On-demand App Development and Market Analysis
It is not surprising for businesspersons to ponder on acquiring on-demand app development services. Even a little business acumen is sufficient to agree that on-demand economy is all set to rule the corporate world. However, only experienced and tech-savvy entrepreneurs can tell apart the excellent app development companies from ordinary ones.
Besides app development, this article also shares valuable insights from the on-demand industry. Since on-demand economy is too big for a brief overview, there are relevant links which redirect to the specific industries.
On-demand Apps Market
The collective market for on-demand apps is well over a trillion dollar now. The statistics from 2017 reveal that consumers in the US alone spent $57 billion through on-demand apps (BIA/Kelsey). Moreover, 49% of users are millennial. This remarkable interest indicates that conventional businesses will cease to prosper by 2025. Harvard Business Review unveils that 22 million customers of traditional services are adopting on-demand services annually.
However, it would be unwise to investigate these numbers as an aggregate because there are multiple on-demand industries. Considering separately, each industry is growing at an incredible pace.
The global market volume of on-demand transportation was peaking at $75b by the end of 2017. The analysts forecast a CAGR of 19.8% during the period of 2018-2025. Thus, by the mid of next century, the volume will be well over a quarter of a trillion dollar. Researchers believe that Traffic congestion, increasing fuel costs, and depleting parking spaces are primary drivers of this growth (Grand View Research, 2018).
Find out more on ODTap on-demand taxi app development
Video on-demand is one of the fastest growing industries due to the significant improvement in internet speeds. Commercialization of 5G will further boost this industry. The statistics of 2018 indicate that 55% of video viewers in the US are using paid streaming services. Besides, 48% of consumers are accessing TV content through online streaming (Deloitte, 2019). Netflix, Youtube and a bunch of other streaming services are success stories. The eSport market is also expected to reach over 600 million worldwide fans $1.5 billion by 2020.
Read more about on-demand video app development
This is only a small glimpse of two industries. Following are some of the other on-demand industries with massive growth potential.
The detailed classification of the on-demand economy creates over 50 distinct industries. However, the generalization based on identical features enables us to bring down the number to 10 industries.
Healthcare is one of these industries. The consumers are spending $4.6 billion in the industries of on-demand food and grocery delivery collectively. This number does not include customer to customer parcel delivery. Moreover, online food delivery market in the US will reach $24b by 2023 if it continues to grow at the current rate.
To investigate further, hit on-demand delivery app development
The health industry is also witnessing transformation toward on-demand doctor systems. Instead of having patients visit health center, a parallel on-demand solution enables customers to seek services at home. Many health centers allow scheduling an appointment through mobile app. Some doctors physically visit the patient while others schedule a virtual visit by using AR technology.
By incorporating AI, healthcare companies can also provide the ability of intelligent medicine prescribing software. Doctor on-demand facility assists both patients and healthcare staff in scheduling and other management chores.
There is a wide array of on-demand industries including, but not limited to beauty and wellness, laundry services, home chores, and logistics and shuttle service. Since every conventional industry is evolving into its on-demand counterpart, the world is on the trajectory leading to on-demand everything. This is not a far-fetched concept. The pace of advancement and short innovation cycle indicate that the upcoming decade belongs to everything on-demand.
On-demand Mobile App Development
The analysts at ODTap were able to forecast this growth in on-demand economy half a decade back. Consequently, we introduced working frameworks for businesses in each of these industries. The aspiring businesspersons can acquire these off-the-shelf frameworks to rebrand as their own business. A number of case studies speak the volume of our successful services.
The availability of comprehensive frameworks and their robust testing allow us to give a precise quote on app development. One can calculate the on-demand app development cost by appropriately specifying the features and scope.
Our developers use a combination of Node.js, AngularJS, and MongoDB. They also use top tools from the software industry for native Android and iOS app development.
Impact of on-demand economy
On-demand industries are arguably causing more rapid change than any other businesses in recorded history. In just over a decade, the traditional businesses which ruled for centuries are facing disruption. Transportation, delivery management, and retail are the most affected traditional industries. It is notable that none of these industries stopped existing. Instead, they have evolved into on-demand parallels.
Consequently, traditional businesses are either facing termination or merging into other businesses. On-demand industries are also giving rise to the gig economy. The workers associated with this economy are working on multiple jobs with short duration.
An aspect that enables companies to attain profits by manifolds is to reach customers worldwide. For instance, a patient in South America may acquire services of a doctor in North America without having to travel. An on-demand tutor can teach students across the seas. Thus, the business does not remain confined to a certain region. Instead, a smartphone and internet connection is enough for customers to acquire on-demand services.
Let’s Prosper Together
One of the core principles of entrepreneurship in this smart age is to incorporate appropriate technologies. The case studies from various industries indicate that integrating on-demand software systems revolutionize businesses. In an ocean of companies offering software development, only a few on-demand app developers are capable of understanding the needs of businesses and building corresponding apps.
ODTap does not only claim to build the best on-demand apps. It offers demos to test software and case studies of our successful business apps. Contact us if you intend to revamp your business or start a new one with on-demand applications.