Published On: January 6, 2022
Last Updated: May 17th, 2022
Not long ago, me, along with few of my friends, were enjoying the underdogs triumphing the Barclays Premier League.
Watching Leicester City winning the title was like witnessing a history.
But, in this process, we skipped dinner time, and we were in no mood to get out and hunt for food. One of my friends shouts aloud abruptly ‘Pizza … anyone’?
He considered our silence in affirmation and within few seconds he shouts once more – ’20 minutes guys… pizzas will be here before the presentation ceremony starts’.
And I was like ‘what the heck you just did?’. He simply replied ‘Zomato App bro; they will deliver from the Pizza hut.’
This does not end here, he sent me a link over the WhatsApp and said ‘add this referral code, and I will get a discount on my orders once you download this app.’ I am like ‘Cool, sounds great buddy.’
This is the beauty of on-demand mobile apps. These apps sit inside your pocket to cater to each and every need of yours within the minutes.
On-demand economy is the result of technology companies thriving on the consumer demand by providing them with the immediate goods and services.
The all-intuitive digital mesh layer drives the supply by piling on the current substructure system.
This new repertoire of on-demand app-based services are making the lives of urban elites more resourceful by offering conveniency; from meal deliveries to even car-washing and laundry pick-up, from chauffeur-driven vehicles to plumbers.
All this gets materialized instantly with the mere taps of your fingers. Most of these mobile applications are controlled by billions of dollars in funding — consider the transportation startup Uber who alone has raised $5 billion.
There is a multitude of specialists who are for the most part regarded as self-employed entities driving the force with excellence and passion.
There are plenty of companies falling under the different category and service offerings that are redefining the growth at a highly accelerating pace.
The technology majorly defines the on-demand business services in the new age economy.
It is nothing more than the creative manifestation of technological innovation in alignment with the evolution of consumer behavior.
There is no doubt whether the on-demand economy can revolutionize the way people are living and transacting on the day-to-day basis, because… all this is happening.
While you are reading this blog, millions of people across the globe are either contemplating on generating the on-demand services or in the process of reaping its advantages.
Although, the real question is ‘when’ will these services be better utilized by the consumers outside of the technocratic fraternity and be resourceful to the larger masses and not just in the urban markets.
To dig down the reason for the growth of the on-demand services, let us take a look on the triggers which forced the expansion drastically with the help of a survey.
This study gives us an insight into the consumer behavior in the fastest growing online market – China.
When inquired about the reason why would they choose to buy the food items, the results yield kind of interesting statistics
Not only in China but in the survey of 250 Whole Foods and Trader Joe’s customers, led by the motive of measuring the component for the success of on-demand apps, the “convenience of delivery” tops the list.
As per the research done by Statista, on-demand apps are estimated to grow at a CAGR of 6.58 resulting in a projected market at a volume of US 565 billion $ in the year 2022-2026.
Off late, applying the successful Uber’s model has become very popular as every new app-based on-demand business model tries heavily to leverage on the popularity of framework.
Must read: Roadmap to Uber-Like Taxi App Development
There are countless attempts by the bright young mind across the globe, promising the VCs and Angels that they have the ability to become next “the Uber of X,” where X is anything the young minds want to gain expertise in doing something.
These bunch of tech savvy geeks has come a long way to reach out to the people and impacting their lives.
In this process, they have created a cut-throat competition with the plethora of on-demand companies offering the time-starved urban professionals the timely resources with the help of job-starved urban worker.
The on demand service apps have remarkably evolved the way of business operations by enabling themselves in becoming the fast-moving technology companies.
The mushrooming of these companies created a competitive market which resulted into transforming the sluggish industries with the technological innovation.
These industries are the prime examples of how mobile app technology redefined these industries with the advent of the on demand mobile apps and the efforts of mobile app developers.
Here, the large part of the growth is because of how the application of new technology added value to the already existing infrastructure.
To simply put up in the words of Steve Schlafman, Principal at RRE Ventures “Welcome to the uberification of our service economy.”
The On-Demand service apps are one of the empowering a revolutions of the 21st century without any doubt.
It will not come out as a surprise if very soon we will be reaping the benefits of on-demand services where every imaginable service will be available at the tap of a button. Time to get ready.
On-demand apps have become a future trend for ease of business as it provides more opportunity to give your customers a customized experience to avail of their desired services at their convenience.
An excellent on-demand app development company provides your business with the best solution to introduce a new on-demand app.