Introducing On-Demand Economy

According to the Harvard Business Report, the on-demand economy attracts

22.4 million consumers annually, who spend $57.6 billion on them.

On-demand Economy has rapidly taken over the established business models
by serving consumers with what they want and where they want. According to
the stats, the on-demand or access economy has transformed the way
businesses serve consumers and hence have become the most talked-about
business term of this decade.

With companies like Uber and Airbnb, the on-demand economy took shape in
the US. However, the more amazing fact than this is that 42% of the total adult
US population has used the services of at least one on-demand startup.
On-demand economy

An on-demand economy is an economic activity built by the digital marketplace or

technology companies to fulfill consumer demand via immediate access to goods

and services. The emergence of on-demand services, particularly in the

transportation, retail, lodging, restaurants, and grocery businesses, is built on

mobile technologies – all thanks to on-demand apps!

Growth of on-demand apps

After the high demands for Airbnb and Uber, customers want immediate
satisfaction. Smartphones are the most important game-changer in delivering
smiles and ease to people across the globe.

The biggest spot covered by the on-demand economy is Online marketplace

space which delivers a business of more than $35.5 billion every year. Ground
transportation is the second leading with a business of $5.6 billion, and the
grocery and food delivery marketplace which fetches around $4.6 billion
currently.

Today’s on-demand app economy is a full-fledged industry with resources

working in real-time. Let’s go through the top industries in the USA which are
being disrupted by the on-demand app technology.
Industries that are Driving the On-demand App Economy

 Healthcare
 Food Delivery
 Travel and Tourism
 Logistics
 Retail and Online Marketplace
 Home Services
 Real Estate
 On-demand fuel delivery
Benefits From Business Perspectives:

 Customer Satisfaction
 Easily Scalable And Reduced Cost
 Countless Business Opportunities
 Sustainable Business Model
On-Demand Economy Is Advantageous To Customers

 Customers can track their orders

 Faster and online payment options

 Customers can rate and review products/services

 Faster access to products and services

 The easy, faster, and convenient purchase process

 Personalized experience and best services at cost-effective rates

Limitations Of On-Demand Economy

 Job Insecurity
 Lack of Customer Loyalty
 Personalized Service Is Expensive
Growth of on-demand apps

After the high demands for Airbnb and Uber, customers want immediate
satisfaction. Smartphones are the most important game-changer in delivering
smiles and ease to people across the globe.

The biggest spot covered by the on-demand economy is Online marketplace

space which delivers a business of more than $35.5 billion every year. Ground
transportation is the second leading with a business of $5.6 billion, and the
grocery and food delivery marketplace which fetches around $4.6 billion
currently.

Today’s on-demand app economy is a full-fledged industry with resources

working in real-time. Let’s go through the top industries in the USA which are
being disrupted by the on-demand app technology.