At the tap of a few buttons when you enter an app you can get almost any task completed, starting from ordering meals, to even groceries. This is a revolution, to say the least. Thanks to the on demand services feasibility that the solution has made accessible to customers, the traditional business model of visiting stores and making purchases has been mitigated completely.
The on demand economy has particularly helped businesses to see their expansion taking place. This is courtesy of the support it has provided them in building a brand, followed by aiding them in getting boosted visibility for the offerings they provide.
As you read the article, you will be educated on the metaphorical rise of this industry through statistics. Next, we will list down the industries that have through their adoption of this model observed their prominence going upwards.
Stats and Figures to Cite Growth of On-Demand Economy
According to PwC, the on-demand economy is slated to bring in sales and revenues of $335 billion by 2025. These numbers are testimony to the lucrative potential of on-demand apps.
Check the infographic to take a peek at these figures:
Image source: pwc.com
Look at the graph below to know about the spending done by customers on on-demand services solutions.
Image source: rockresearch.com
Now, take a peek at this graph to check the profits made by mobile apps followed by the number of downloads they have enjoyed as well.
Image source: neoito.com
These attractive numbers are enough testimony to the fact that the on-demand economy has extremely lucrative prospects.
Reasons On-Demand Economy is Disrupting the Business Arena
Through the integration of on-demand services into operations, businesses can get their visibility boosted. They can also build a huge customer base.
Check out the image to know the different reasons for the solution disrupting the business arena.
As you can observe in the above image, the on demand economy has a wide array of unique elements that helps it in disrupting the business world. We have explained them in the pointers.
- Increases prospects as a result of customers relying only on those businesses that make quick offerings possible.
- Drives entrepreneurship model by allowing the on-demand services providers to work at flexible hours and earn on their basis.
- Makes it easy to provide personalized services to users by assessing their data which includes purchase behavior, behavior while using the app, and so on.
- Supports in driving scalability by allowing businesses to fulfill their different requirements with considerable convenience.
- Creates a flexible workplace by ensuring work-life balance is easy to create for the employees who deliver services through on-demand solutions.
Top 7 Industries Disrupted by On-Demand Mobile Apps
In the lines above we have discussed the factors owing to which the on-demand industry has created a disruption. We will now educate you about the industries that have observed their popularity going up courtesy of these solutions.
1. Ride-Sharing
Courtesy of the arrival of Uber in 2009, the ride-sharing industry saw its prominence growing. This model became a path-breaker for the taxi industry to grow and get more users in the long run. The ride-sharing industry courtesy of adopting the Uber clone model saw the users getting the ability to easily locate rides nearby and go to their destination with utmost comfort and safety.
Take a peek at the graph to observe the growth rate in these solutions from 2018 onward along with the apps that have helped the industry in accomplishing these figures.
Image source: mordorintelligence.com
2. Restaurants
Coming second is the restaurants. Thanks to the restaurants integrating the on-demand services, they have been able to manage a wide array of tasks like order management, delivery management, order processing, etc, and most importantly build a strong online presence for themselves.
Check this graph to observe the market size growth from 2022 to 2029 courtesy of the food joints embracing this model.
Image source: businessofapps.com
3. Grocery Industry
HomeGrocer.com was the first online supermarket player to create a model dedicated to online grocery delivery services. There was no looking back after that. Thereafter, we had new apps like Instacart, Grofers, etc. imbibing the model to make grocery delivery swift and quick which in turn has led to this business model being used to the maximum by all business startups.
Take a peek at the pie chart to observe the share of the global online grocery market based on product type.
Image source: grandviewresearch.com
Image source: oberlo.in
Now, check out the graph below to observe the sales that the market shall make in the year 2016 courtesy of the on-demand services integration.
4. Healthcare Industry
After the pandemic, doctor on-demand apps have supported the healthcare industry to gain a huge customer base by allowing them to get connected to patients looking for healthcare services on the go. It has also given support to the industry to automate their operations like patient management, bill management, etc. All these factors and more are responsible for the healthcare industry to imbibe this model.
Take a peek at the graph to get a glance through the revenues that the healthcare industry has been able to generate courtesy of adopting the on-demand model.
Image source: grandviewresearch.com
5. Logistics Industry
Coming fifth on our list of industries that have observed their disruption taking place through the inculcation of the on-demand economy is the logistics industry. Thanks to challenges like booking, issues in warehouse management, tracking, and so on, the solution observed their inception taking place. This was in the quest to ensure that these issues became easy to handle and tackle. Courtesy of this, the profits that the industry is making are huge.
Check out the graph to observe the revenues made by the market courtesy of the on-demand mobile apps having their integration taking place.
Image source: grandviewresearch.com
6. Education Industry
Until the pandemic had stricken globally, offline education was the order of the day for learners. However, after the pandemic started and ended, the online model saw its prominence growing. More and more students got the capability to enjoy a systematic learning experience. It alternatively also made it possible for educators to manage their tasks like lesson management, report card generation, etc simplistically. This in a nutshell has supported the education industry to become a top business too alongside the other industries.
Take a peek at the graph to observe the growth in revenues after the education industry inculcated the on-demand mobile apps.
Image source: grandviewresearch.com
7. E-Commerce Industry
Amazon was the roadrunner in revolutionizing the way online shopping was done by customers alongside acting as a source of support for the retail industry to list out their products online and have its sale done. It has alternatively given support to the business to maintain a higher level of security in payments, make the order checkout process simplified, and ensure that order management is automated. All these factors thereupon have helped the business to earn lucrative prospects and attract more retail industries to digitize their operations.
Check out how the eCommerce industry has observed its revenues going up.
Image source: businessofapps.com
Ready to Dominate On-Demand Space Like a Pro?
The on demand economy has since the inception of Uber observed its prominence growing manifold and encouraged major industries to inculcate the model to their business advantage. All businesses are integrating on demand mobile apps to automate their operations and boost their visibility. This is why it is crucial in case you are a nascent business owner you get the on-demand services apps today.