An Insight into Industries Disrupted by On-Demand Technology
Many traditional businesspersons were wise enough to identify the glorious future of the on-demand economy and incorporated technology. Unfortunately, some of them seized to exist because they failed either to identify the evolving trends or denied them. Although the on-demand technology caused disruption and revolution in many industries, yet it affected some of them more than the others. The evolution may have botched some businesses, but it also boosted many others resulting in millions of new jobs and substantial relief for the consumers.
Following six industries have disrupted the most by on-demand technology:
The traditional transportation businesses are the chief victims of on-demand technology. Earlier, commuters had to walk to the taxi stand to seek cab services. Some taxi-owners shared their contact numbers with the frequent travelers so that the customers may call them to pick them at their doorstep. However, there was no way to track the drivers. At times, the drivers refused by stating an excuse. Besides, the drivers surcharged for picking the passenger at the location of their choice.
The introduction of on-demand taxi services redefined traveling by taxi. Now, the travelers schedule a ride by few taps on the mobile app, and the driver is bound to start the fare meter once he/she reaches the passenger’s location. Each of the mobile modules of the app contains a range of features. Thus, riders do not have to keep separate devices for communication and invoice.
The facilities for drivers to track passengers’ location and for passengers to trace the vehicle significantly reduce the time consumption.
2. Home Services
A decade back in time, many people struggled to address the petty home issues including sanitary, electric and plumbing problems. They used to avoid the hassle of searching the markets for electricians and other home service providers. The professionals used to mint money as they wished because the consumers had no choice but to avail services.
The advent of the on-demand economy brought a huge relief for consumers. An industry expert with recognized certification arrives at home upon booking over the app. The worker is under constant monitoring by the contract executives. The monitoring allows them to ensure the security of home-owner as well as the worker. Besides, the service seeker can track the location of the worker to estimate the arrival time.
3. Delivery Management and Logistics
The urban settlers barely find time to walk up to post office or courier service provider. Apart from excessive time wastage, traditional delivery services also charge highly. The consumers are uncertain about the delivery status.
The on-demand contractors enable the consumers to acquire courier services while sitting in the comfort of their homes and workplaces. This facility brought down the consumption of resources of both time and money. One the user book service over through their mobile app, they can start tracking the delivery agent. They can also view the real-time location of agent once the parcel is handed over the agent till the time when the item is delivered at destination. The conventional logistics industry may have disrupted, but the means of logistics have instead evolved.
The surveys to determine the most tedious household chores reveal that over 80% of people consider doing laundry as the most boring task. Some consumers outsource the work to their nearest service providers, but it still consumes a considerable time whereas the contractor will charge a hefty amount of money.
The on-demand space revolutionized the industry by introducing relevant mobile applications. The contractors pick and return the clothes at the location shared by the user. The service providers cover the entire cities. So the consumer can acquire the contractor of one’s choice without traveling a meter. Thus, the on-demand laundry industry ensures that people no longer have to perform the petty task of doing laundry.
5. Real Estate
Relocation is frequently occurring in the cities. Many residents and business executives postpone the plan of finding homes and offices to avoid spending their valuable time. Some traditional real estate dealers share pictures of homes if an aspirant is unable to travel to the place. However, people can barely decide about renting or purchasing a place by looking at pictures.
The virtual and augmented reality technologies are making rounds in various industries. Real estate is one of those industries. The people can virtually travel to a place by using the augmented reality mobile apps. The apps enable them to look around the site in-depth because the apps provide a 3D view. The apps offer a panoramic view of the pictures which enable the aspirants to eliminate the doubts.
6. Retail Industry
Retail is one of the chief industries disrupted by on-demand technology. The on-demand shopping is such a massive industry that it has produced multiple billion dollar companies around the world including Amazon and Alibaba. The e-commerce is, arguably, the most significant industry evolved by on-demand services. Only a couple of decades back, there was no way to shop except traveling to the relevant market. Initially, some companies offered e-commerce through websites but started mobile apps later to enable the buyers to virtually travel to markets by smartphones.
Many startups have followed the footsteps of Amazon to offer similar services, and most of them have remained successful. The odds of failure are low because the industry is far from being saturated as consumer demand is continuously increasing. The only reason for failure is the lack of efficiency of apps to perform as good as other systems.
The on-demand economy is still under the evolutionary process. The investment in this technology is going to bring an exponential return. The surviving traditional businesses will not be able to continue for long. Research forecasts that the traditional services will soon be obsolete as the on-demand software will engulf the entire market. By incorporating technology into an enterprise or initiating a startup, the entrepreneurs can grab a major part of sales.
2019 can be the best year for you to starting and growing your business. Contact us today to seek assistance in developing your dream on demand business. Happy new year!