Want to Start On-Demand App Based Business? Learn Top 5 Industries Backing Exponential Growth of the On-Demand Economy
It was not long ago that we set our hands-on smartphones for the first time. It felt magical to touch the screen and choose the service we wanted to access with our bare hands. Never had we imagined that one day this piece of technology would become the primary tool to connect us with the outside world. But the shift has occurred and the on-demand economy is partly responsible for the same.
With the advent of mobile phones, before a decade we wished if we could just tap our fingers and services or products are made available to us. The already established on-demand app development industry has invested resources in understanding the pains of their consumers and embedding technology with their current services. As of today, businesses and start-ups have realized the importance of offering their services through the means of a mobile or web app.
With the unfathomable success of apps such as Uber, there came an evolution in the on-demand economy. Whether it’s the healthcare industry or cab-hailing or the logistics sector, on-demand services are improving the lives of people by providing ample benefits such as convenience, affordability, scalability, and profitability.
This blog is all about which industries are contributing to the growth of the on-demand economy and the basics of developing an app. If you wish to create an app for your business, this is the perfect blog for you. So…Read-on!
The functionalities that the on-demand apps provide are not the only reason that is fueling the on-demand economy. Consumers today are so time-pressed that they’ve adopted these services from the launch. Other than this there are various vertices that act as a catalyst in increasing the demand for the on-demand economy.
Here are some of the stats that can shed some light on the market and the future of the on-demand economy.
The preceding statistics speak volumes for the current market scenario and the future that the on-demand economy holds. Let’s learn the industries that are contributing heavily to the on-demand market.
- The on-demand sector is predicted to grow from 213 billion USD in 2017 to 435 billion USD in 2021. The CAGR is expected to be 49%.
- Around 22.7 million people have used the on-demand apps generating revenue worth 57.6 billion USD.
- 49% of the users using the on-demand market are millennials.
- 55% of the users are male and 45% of them have a 4-year college degree.
- 46% of the on-demand consumers have an annual income of fewer than 50,000 USD.
- 54% of the customers live in the suburbs while 18% live in the inner city.
Top 5 Industries Contributing to the On-Demand Economy:
Now, that you’ve learned the top industries fueling the on-demand economy, let’s dive into knowing how to prepare to enter the on-demand app industry.
Travel & Tourism:
How you start your own On-demand App Based business?
Choosing the Right Industry:
Come up with a Business Model:
Market Research & Analysis:
Hire an Experienced App Development Company:
Why Choose Technource as your On-Demand App Development Partner?
Technource has been serving the professional IT sector for 9+ years and has made a few valuable contributions as a mobile app development company. We’ve successfully launched numerous mobile and web apps for our clients around the globe.
We have an enthusiastic and expert team of developers, designers, QAs, and other talented individuals that make it possible to deliver complex projects on time. We provide our services in web and mobile app development.
The native languages we work with are JAVA & Swift while we work with cross-platform techs such as Ionic, Flutter, and React Native. We also make use of Industry 4.0 techs to inculcate advanced features in our client’s app. Our work can be observed on our website in the form of the case studies that we’ve posted.
Now, you have a clear idea of the industries that are flourishing in the on-demand market. The numbers we observed for the same say a promising story of the on-demand economy’s future. If you’re a start-up or an experienced investor willing to invest in the on-demand business, there won’t be a better time than this. You can gain other essential insights on the same by signing up for a free consultation on our website. We will get back to you as soon as possible. Let’s join hands and change lives for the better.
+1 (302) 319-9825
+1 (302) 319-9825