Top Trends of On-demand Economy for 2020
With every passing day, the on-demand economy is getting a boost and has shared major part of the world. The valid reasons of on-demand economy success in the form of quickest growth rate, increase in ROI, and efficient streamlining of the business operations, have developed a keen interest among businessmen to invest in on-demand service business. Entrepreneurs, businessmen, startups, as well as established businesses are focusing towards transforming their businesses into on-demand platforms.
On-demand service apps are improving day by day by introducing advanced features which are bringing more comfort to the people’s lives. The current stats reveals that a large number of established businesses as well as startups have turned their businesses into on-demand using apps or platform.
Statistics showing on-demand Economic Revolution:
On-demand industry has brought a revolution in the economy. Here are some facts regarding on-demand economic revolution:
1. More than 51% of on demand economy users have gained increase in profits.
2. Americans have invested $45 million in the on-demand economy.
3. On-demand Economy is disrupting the conventional systems and incomes of workers.
4. Statistical reports show that 65% of employees have raised their profits using on-demand systems.
5. 46% employees declare On-demand economy working schedules comfortable.
On Demand Economy 2020 Trends:
Corporate giants have made huge funding and investments in this domain. Investors invested $8.6 billion in 2016 and Airbnb received funding of $2.4 billion. Investment options in the on-demand economy has increased after seeing the huge profits and customer behavior towards on-demand services.
Growth Rate of On Demand Economy:
On-demand economy is growing faster and with the passage of time, more capitalists are ready to invest in this field. Therefore, businessmen which are using on-demand solutions have higher chances of fast business promotion. No doubt, there are various challenges for businessmen and entrepreneurs but it is easier to handle them.
How to leverage on-demand business?
On-demand economy is booming and bringing reforms and revolutions. The successful regulation of on-demand businesses of Uber, Airbnb, JustEat, Amazon and other popular names is encouraging a large number of entrepreneurs in moving towards on-demand business. The procedure is quite simple. All it requires is restructuring your business and get a new platform to manage your business using an app. A reliable on-demand app development company can help you in achieving your business goal.
The on-demand systems work with the help of on-demand apps containing various features to fulfill your business delivery process. It includes a variety of features such as easy accessibility, instant payment and delivery of services. Services can be of home cleaning, food delivery, online grocery shopping, finding tutor online, delivery and logistics services, and a lot more.
It works just like Uber in which you can place order for a ride or like you order food item from your home using food delivery app from your mobile or a website and food company delivers it within the set time frame.
Also Read: Why On-demand Economy is highly Sustainable?
What benefits you can get from on-demand app or on-demand Ecosystem?
On-demand economy is not limited to the popular giants like Uber, Paypal, and eating ventures. It is possible to adopt it in a variety of businesses. Entrepreneurs are coming up with new ideas to implement them in on-demand economy.
Moreover, it is not limited to getting only a single service from an app. As an entrepreneur, you can get on-demand ecosystem to manage the entire set of services like if you run a construction business, an on-demand ecosystem can help you in managing contractors, suppliers, customers, and services providers. It makes easier for all the associated people to get or deliver the required services using a single platform or ecosystem.
- 1. Relatively low price for customers
2. Instant availability of necessary products and services
3. Instant communication between customers and suppliers.
Also Read: Market Approaches for On-demand Business Startups
On-Demand Economy Service Business in Real-Estate:
On-demand app for real-estate enables property dealers to connect with the customers via an app. Real estate businessmen show up the property in which they deal using the app and customers can choose any of them depending on the location and price. After that, they can contact the real-estate company to complete their dealings. It is a great way to shortlist the property before buying them.
Artificial intelligence in Real Estate:
With the passage of time, there is a continuous improvement in technology introducing artificial intelligence into a large number of businesses. Artificial intelligence can serve great customer experience by providing the most appropriate results based on customer’s choice.
Recent case studies reveal that conventional real-estate industry will no longer last beyond 2022 as these apps enable connecting the sellers and buyers and offer a wide variety of features.
Also Read: 6 Disruptive Tech Trends in Real Estate Industry
On-Demand Construction App:
Finding a construction company for building home or plaza or interior designing is a tedious and time consuming task which can become easier using the on-demand construction app.
The on-demand approach facilitates the customers by providing services using the app where users can contact the relevant person and get the quote of getting the particular services. They can communicate with contractors, request for quotations and ensure safe payments for getting the services.
Business Intelligence On-Demand:
Business intelligence on-demand can be one of the most revenue-generating services as companies are interested to know the ways in drawing traffic to their sites. Business intelligence is becoming necessary for SMEs and large scale companies to flourish well using the right strategies based on data intelligence.
The knowledge of business intelligence can be available via on-demand app. You can offer user-friendly software-as-a-service tools to provide competitive advantage to companies who are lacking BI expertise.
Machine learning and Artificial intelligence both have been a major part of mobile apps. Wearable technology is also improving and now a few big names have invested in wearable app development. 2020 promises to bring more wearable that might include movement trackers, watches and more.
IoT (Internet of Things):
IoT is making the procedures of delivering goods and services faster using the on-demand ecosystem. If faster deliveries happen without compromising on the quality of food, it means there will be more money for the business.
Chatbots:
Chatbots are improving the business by communicating with customers that build trust among them regarding the particular brand. The secret behind the success of on demand economy services lies in faster availability of products, instant communication, and showing them complete visibility of order status.
Delivery through Drones:
Drone delivery will be becoming possible soon in the coming years. On demand service app will integrate with drones for delivery.
Factors Responsible For Creating On Demand Service Apps Market:
Ease:
Customers prefer easy availability of the products to select and order immediately.
Quick Delivery of Services:
People prefer quick delivery of services which has become possible with on-demand apps and ecosystems.
Specified Time:
Customers want to know the particular time to get their delivery and a given time duration.
Quality Services:
Quick and quality delivery of services is one of the influencing factor to build trust among people.
Quick and Easy Payment Mode:
This is an important feature that improves the user experience and encourage them to keep using on-demand services.
Awareness of Services:
People should be aware of the availability of on demand economy services to make it reachable to everyone who can be interested in such services.
Conclusion:
Every entrepreneur wants to add success to their business. It is on-demand right now. On-demand economy is booming faster and businesses who still are unaware of its benefits or have not implemented it into their business should move ahead now using on-demand platform to compete the world and beat the competition. Contact us today for getting on-demand services app to make your business profitable and efficient.
