Every Industry Will Be Revolutionized To New On Demand Economy Till 2020?
On-demand economy is big and it is getting bigger. Online businessmen and companies using active platforms are attracting the buyers and users to purchase their products and services. It is getting significant attention with the passage of time because it is among the top corporate approaches for startups. The businessmen and economic firms need perfect on demand economic solutions in order to find reasonable market share and attention. What would be the status of on-demand economy in 2020? On demand economic platforms such as UBER, PayPal, Food Suppliers and pharmacies are earning huge incomes just because of the increasing potential of on demand platforms. According to the statistical reports, these companies have earned 13 %, 21%, 30 % and 45 % net growth in the revenue in 2016.
What is current trend?
We have noticed numerous industrial revolutions in last ten years. Ups and downs are part of economic activities but there is a need to handle them in an expert way to get maximum possible profits. This is no longer difficult to bring revolutions in industrial world. It is recommended to use the OD TAP economic solutions in order to find the possibilities to take more benefits of industrial revolutions. Remember, the industrial revolutions are always positive for most of the businessmen, capitalists, investors and companies. However, the turnover strongly depends on the way these people use to take benefit.
Insight center by economic platforms:
While comparing the efficacy of best economic strategies for the development of new industrial revolutions, it is necessary to notice the total profits gained by the economists. Currently, it has been reported that on-demand economy has attracted more than 22.4 million customers who spent $57.6 billion for it. Online marketplaces are the largest or most frequent users of on demand platforms. The examples of Etsy and eBay are more famous. The consumers of these online platforms are around 16.4 million and they are spending $36 billion per year.
Read Also: What Is the Future of On-Demand Economy For Service Industries?
Transportation is another big follower of on-demand economy and platform. The best examples in this industry are UBER and Lyft. Both companies have got a right on demand platform which attracted more than 7.3 million customers with $5.6 billion. As mentioned above, the food companies and suppliers have also enjoyed the on demand platform impact on economy. Food suppliers such as Instacart have gained 5.5 million customers per month spending $4.6 billion.
Successful on demand users:
OD TAP economy platforms have enabled the consumers to become more successful in the economic world. There are so many examples of successful online businessmen and firms with great revenue growth. Task-Rabbit, Elance (Freelancer service) and StyleSeat (Health and Beauty service) gained $8.2 billion per year after modifying the economic platforms and business models.
On demand economy is just starting the journey towards economic growth and industrial revolution. It is attracting a big number of customers. According to the NTRS data, men are the most frequent users of on demand economy (55 %) but 45 % women are also using it. Surprisingly, 49 % users of on demand economy are millennial (Age between18-34) and 22 % are above 55 years old. It shows that all age groups are using platforms for business growth. It is time to understand the scope of economic platforms.
Nationwide distributions of consumers:
In order to see the utilization of economic platforms, it is necessary to see the distribution or utilization of on-demand economy among different nations. More than 63 % Americans and Europeans are using on demand platforms for startups. On the other hand, 17 % of African Americans, 12 % of Asians and 9 % of Hispanic businessmen are using on demand economy and platform. This data is interesting and it shows the complete scope of on demand economy in the world. This data can be used to set and predict the future business prospects in on demand economy.