5 Industries that Favor On-demand Development Economy

86.5 million US people have used On-demand services while 45 million have served a service in the On-demand sector. Another 22.4 million users have revealed that they have spent an amount of $57.6 billion on On-demand services - a major factor because of which On-demand mobile app economy is going to hit $335 Billion by 2025. All these statistics on the multi-billion on-demand mobile economy shows that what introduced by Uber has become the future of every business vertical. Every business and industry is looking forward to riding into the Uber for X wave. And users also showing a green card to the idea of investing in On-demand app development.

But, this is not a one-sided affair.

While On-demand economy is disrupting different business verticals, various industries are also encouraging the idea of ‘real-time’ accessibility.

Many industries have embraced On-demand services as a part of their exceptional customer satisfaction strategy and, as a ripple effect, have brought an impact on the future of On-demand economy. Some of those prevalent industries are:

Taxi Booking and Services

Unlike the traditional taxi business, the On-demand economy made it possible for drivers to run a taxi business even without having a single taxi of their own.

As showcased by Uber, the On-demand taxi booking business model helped the taxi businesses, drivers and users connect each other at the same platform - making it possible for drivers to cater to the needs of the users under the label of taxi business company. And in this way, encouraged all of them to enjoy the convenience and better outcomes.

Due to this, the Taxi booking and services domain has supported the proliferation of On-demand economy.

Food Ordering and Delivery

Similar to Taxi booking arena, the food ordering and delivery industry also promoted On-demand economy. The food-related businesses were struggling with limited options available for serving the customers with an exceptional experience, and that too confined to their physical location and timings.

But, with the advent of On-demand economic model, these businesses found newer ways to cater to the needs of users beyond their premises. They received a way to serve their target audience in lesser time and cost, improve their online presence and drive long-term success. Two examples of this type of collaboration of food ordering and delivery business with On-demand technologies are Swiggy and UberEats.

Home Services

Another industry that favored On-demand mobile app economy is Home services. This is because, in the earlier scenarios, the users were supposed to travel long distances to look for services, bring them to their home, office etc. to get the services like plumbing, painting, etc. But with the adoption of On-demand concept, the process has become easier and quicker. On one side, users found an escape from the hassle of searching for the best service providers around while, on the other side, home services providers got more opportunities to make their business.

Employment

With the employment sector gradually drifting from hiring a full-time employee for a short-term task of recruiting someone for a short time interval, the challenges to find the right employee/job were increasing. In such a situation, On-demand job portals emerged out as a bridge connecting the two and making it possible to drive better opportunities at lower cost and investment for both the ends. Because of this, the employment sector also took a step further to support On-demand app development.

Healthcare

Healthcare industry, one of the largest industries in the marketplace, has undergone various transformations and added value to our lives. But, these rapid transformations and benefits were still confined to a particular time span. In other words, these healthcare services were not available to those in need in real-time. This resulted in the introduction of On-demand healthcare services.

The On-demand technologies made it easier for the healthcare providers to fix an appointment, provide consultation services, assist doctors and medical trainee in critical cases, handle an emergency, and even acknowledge home visit requests. In this way, the On-demand services have served the healthcare industry with the much-required features, which encouraged the Healthcare practitioners to contribute to On-demand economy.

Now as we have seen what industries are supporting On-demand economy and the statistics indicating its brighter future, it is quite possible that you will be interested in investing in On-demand economy and in determining how to succeed your On-demand business in Crowded app market.

So, taking the same thought forward, we will look directly into what are the different business models to consider for a successful On-demand business, which are as follow:-

Instant Delivery vs Scheduled Delivery Model

One of the prime factors you have to look into is deciding what timeline will be associated with offering the services - will you serve Real-time product/service or offer it at some scheduled time.

Own Fleet or Partner’s

Another business model that is quite popular in the On-demand economy is related to deciding whether you will get into partnership with some fleet or let them manage it on their own.

Anonymity vs Choice

The third business model that we have experienced via apps like Uber and Zomato is anonymity and choice. In the former business model, you choose the mode of service/product but have no option to pick the driver (service provider). While, in the latter form, like what we see in the case of Zomato, you can not only choose the dish (product/service) you want but also pick the restaurant (service provider) you want to be served from.

All of these business models serve you with their specific characteristics and benefits. So, it is good to determine which one is apt for your business based on the requirement and customer behavior. But, if you find difficulty in determining the same, the safest way is to get in touch with a reputed On-demand app development company and then get started with the development process.