The beauty of On-Demand mobile app development is that they have changed the traditional business model by serving people with what they want within minutes. Companies like Airbnb and Uber are shaping the on-demand economy of the US. It is surveyed that 42% of total adults in the US have used the services of at least one on-demand startup.
They best fit in any mobile device user’s pocket and cater services within a few minutes. From meal deliveries to car-washing, from laundry pick-up to plumbers and chauffeur-driven vehicles, all these on-demand apps are making the lives of urban Haute monde convenient in a few taps or clicks.
From the success of an on-demand taxi app like Uber, which was an entirely different concept first launched in San Francisco, the company on July 3, 2019, had a market cap of $74.6 billion.
Similarly,
FoodPanda, an online on-demand food delivery app was established in 2012 and made the idea world-famous quickly. The revenue made in the FY 2018 was 72.13 crore, because of the Siggy and Zomato in the market. FoodPanda incurred 227.95 crore losses in March 2018.
But still this idea was a hit and gave rise to other platforms and are making good revenue - Swiggy, 442 crores in FY 2018 and Zomato jumped up to three-fold to $205 million.
With the huge success of these apps, many on-demand app development companies were propelled to build similar apps. The technology today is defining the on-demand business services as a new age economy.
After a lot of failures came out about Airbnb and with lots of struggle the idea was accepted first by people and today it has over 2 million listings in over 190 countries. The company estimates to have 25.5 billion worth and is still continuing to grow.
There is no doubt that these on-demand services are capable of revolutionizing the way people are living and transacting on a daily basis. Not just consumers, these on-demand app development services have remarkably transformed the sluggish industry’s ways to operate their business.
Who wouldn't want to avail services at their door-step? Today, another on-demand service app is the dominating services ecosystem in India - Urban Clap. Urban Clap redefined the concept of local services and servicemen being hired in India.
This on-demand
iOS app development agency made hiring local servicemen easy- be it reliable plumber or yoga trainer or photographer or local salon services or more. Urban Clap currently has a list of 107 services listed on its platform allowing customers to request services online through their website or mobile application.
The Future Of On-demand Service App Development Seems Quite Bright
According to Harvard Business Review, every year the On-Demand industry attracting more than 22.4 million consumers, and spending is about $57.6 billion (Source: Yourstory). It is also recorded that the online market is the most spending market - with 16.3 million consumers on average spending $36 billion every year (Source: Yourstory).
There have been countless attempts by the bright young minds across the globe with the ability to build the next level Uber or Airbnb or FoodPanda etc.
- Transport Industry
- Salon Industry
- Grocery Industry
- Entertainment Industry
- Gift or Flower Industry
- Laundry Industry
- Restaurant Industry
- Garage Industry
- Healthcare Industry
- Babysitting Industry
These industries are prime examples of how mobile app technology is redefining them. Although a multitude of companies has adopted an on-demand application to reach consumers easily there are businesses that stand behind the fence to wait for it to drop.
What Does The On-Demand Mobile App Development Stats Have To Say?
The market of the on-demand industry has been and is growing progressively. One of the forecasts for growth was determined by 7.6 million in 2020. Moreover, the on-demand labor market is expected to grow by 18.5 % a year over the next 5 years.
This growth is the result of the companies and businesses planning for creating stability in their future. 79% of existing on-demand providers said their on-demand activity is part-time. And it is estimated that this will double by next year (Source: BusinessWire).
Further, the global online on-demand food delivery app market will hit $161.74 billion by 2023 (Source: GlobalNewsWire)
The investment rounds focused on funding on-demand app development startups. The newcomers that started their business with $74 billion funds in the year 2014 reached $10,293 billion in 2017. Moreover, the PwC report states that on-demand websites and apps will significantly reach the value of $ 335 billion by the year 2025.
Almost 60% of US users are ready to pay extra or shipping/delivery charges to get their products delivered the same day. This stats is the proof of the people getting adaptive of the on-demand industry. Thus to meet the need of the customer 65% of the retailers' offer and deliver the product the same day.
What To Expect More Of On-demand Services?
Not only an on-demand app development is making customers contented and happy but giving new opportunities. It is a great platform to empower students, workers and embrace more flexibility into their processes opt for jobs for a short span of time.
The current on-demand employees were happy and satisfied. The on-demand industry has made 68% of employees happy after its foundation and growth and 70% are satisfied with their work profile.
We might see an initiative of the “hyperlocal model” o make the user experience far more comfortable and memorable. This model will focus on speed, quality and provide multiple options to stay hooked. After the development of e-Scooter in San Francisco, investors and other on-demand service app development companies have the forethought to invent their own.
Since in the US 40% of the population face a lack of storage problems and 30% of the citizens have extra space. To resolve the issue for both, an app was crafted named Cuft. This app is a low-cost alternative to traditional self-storage. People with extra space in their homes, garages, backyards can rent out space and make money.
To Conclude
The scenario indicates that if an entrepreneur is planning to earn rapidly, instead of operating a business in a traditional way,
on-demand app development is a brighter way. Business owners will be pushing their efforts in order to connect with more customers knowing the market will have intense competition. This will bring in more personalization, higher investments over on-demand app development.
