On-Demand‌ ‌Economy‌

How‌ ‌On-Demand‌ ‌Economy‌ ‌is‌ ‌Driving‌ ‌the‌ ‌Service‌ Industries?‌

Not so long ago, an idea came into action that disrupted the Taxi Industry. The fact is that one idea is now 11 years old with a net worth of $75.5 billion.

Not only that, it is the crucial point wherein the thought of an online on-demand economy came into action.

Uber

The main root of all the disruptions that came across the on-demand economy. However, it started with the taxi industry, but with passing time affected almost every industry you can think of. Especially, after the pandemic – the on-demand thing is replacing the traditional business as people are habituated to the on-demand services. 

To make it more clear to you let us go through some of the important statistics.

  • 63% of the on-demand service providers say that they are happier with the outcomes of the business. 
  • The transportation industry has raised more than 64% of its funds online through on-demand companies. 
  • By 2025, it is expected that the on-demand economy marketplace value will be around $335 billion. 
  • Millennials consume the highest part of the on-demand economy – 48%.  

Now, you know that the emergence of the on-demand thing has forced us to redefine the industries by implementing on-demand. To put it short, on-demand service across the globe has enforced the growth in every industry with its implementation. 

In this article, we have come up with the top 6 industries that observed a revolution with an on-demand thing. Let’s deep dive into it for more details. 

Keep reading the article to know about the top on-demand business ideas if you’re planning for a startup. 

6 Industries That Got a Boost With Implementation of On-Demand Service 

Transportation Industry

The point from where the on-demand service app idea came into action. The highest growth of the on-demand economy is observed in the transportation business.

According to one of the reports, the highest funding – 75% has gone to the top 3 on-demand transportation startups. The highest funding goes to the king of on-demand startups that is Uber. 

Besides all, there is a huge potential for the new startups to come up with their own on-demand transportation service and hit the market. In fact, it is observed that nowadays, Uber is receiving heavy challenges from emerging startups. 

Be it about on-demand taxi apps or trucking & shipping apps, each sector of the transportation industry is going digital with on-demand implementations.       

Travel Industry

Are you aware of Airbnb’s success? It is one such travel and accommodation app that has changed the way people book their accommodation while traveling. 

On-demand services in the travel industry have made it easy for people to travel across the globe. You don’t need to worry about anything – be it about booking flight tickets or finding a place to stay.   

If you’re already in this field or planning for a startup then it is an ideal time to grab an on-demand economy trend and build your startup with its implementation. 

Besides Airbnb, other apps that have observed success are Vacasa, Sonder, and so on.         

On-Demand Food Delivery

Just imagine – you’re planning to go to a restaurant for dinner. However, could not make it up due to some reason. What would you do next? Order food online or just cancel the plan? 

About 70% of the people will go for a food delivery app to order food online. Especially after the pandemic, people fear going to a restaurant, and as an alternative prefer to order food through an application. 

The research found that the US and UK are observing tremendous growth in the food delivery business. So, all this shows that on-demand food delivery businesses are one of the best startup ideas you can follow.

On-Demand Fuel Delivery

The on-demand economy made it possible for many traditional businesses to come out of their comfort zone, and try something out of the box. A unique and new concept that is booming in the market. You can even call it one of the best on-demand service app ideas ruling in the market.    

In the last few years, on-demand fuel delivery has become an emerging startup in various sectors of the world. You can seamlessly refill your vehicle anytime and anywhere with just a few taps on your smartphone. A few most popular on-demand delivery apps are Filld, Booster, Yoshi, and so on. 

While interviewing, it was found that these companies were able to satisfy their customer needs with convenient, fast and safe fuel delivery service. Moreover, they even observed an increase in the sale with this new method of business. 

Healthcare Industry

One of the industries that were in desperate need of an on-demand thing. The on-demand service app idea in the healthcare industry has brought a huge relaxation to the doctors as well as patients. Whether it is about medicine delivery or doctor consultation, on-demand is enforced in each part of the healthcare industry. It shows that medicine or doctor, both are just a few clicks away from you. 

With on-demand, many issues in healthcare have been solved. The users don’t need to rush to the hospital then and now taking the reports or checkups. Popular on-demand apps in this industry are Doctor on Demand, Practo, HealthTap, and so on. 

Professional Services

One of the broadest sectors that benefited from on-demand services. End users are really enjoying these services sitting at their home. A few professional that become popular with on-demand are,   

  • Mechanic
  • Electrician
  • Pest Control
  • Household work
  • Baby Sitting
  • Plumbing
  • Carpentry

This vertical comes with a plethora of options for the end-users to get their task done. They can hire a professional for the household work at any time and from anywhere. Open the application, book your service, and get the job done at your convenience.

Adding more to it, we can say that on-demand professional services come with new opportunities for employment. A key advantage of the on-demand economy in this sector. Some of the best professional service apps available in the market are Handy, Homeflock, TaskRabbit, Thumbtack, and more. 

  So, that’s all on the industries/sectors that faced advantages of the on-demand economy. Except for the one mentioned here, there are so many other fields that are implemented on-demand and get fruitful results. 

Are You Ready to Build Your Business With an On-Demand Economy?    

The on-demand economy continues to disrupt the industries with its amazing benefits. If you run a traditional business then it is high time to make it digital with on-demand services. 

Though always remember with advanced technology coming into action there is always tough competition going in the market. Henceforth, you need to come up with unique ideas and functionalities that could attract users to your platform.                  

The best thing you can do here is to get in touch with the best software development company and talk to their experts. Let them work on your on-demand service app ideas, and share the solution with you. 

That’s all for an on-demand economy!

Chris Watson

Chris is the Writer and Journalist. He loves to deep dive into the ins and outs of the technologies. His aim is to share the knowledge by writing on the technical about Business, eCommerce, Startup, Enterprise IoT, AR, VR, and other Smart Technologies. To describe him in one word, he is a writer focused on Tomorrow’s World.

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