On-demand apps have disrupted several industries in a very short span of time. That’s not just speculation. In 2015, the on-demand economy was worth approximately $22 billion annually. Now it’s worth closer to $60 billion. Thanks to on-demand apps, users can now get rides, order food, schedule doctor visits, and much more, all without leaving their homes or even making phone calls. It’s easy to see why these products have attracted so many customers so quickly.
That said, there are still some businesses that haven’t adapted to the changing times. They consider the on-demand economy to be merely a passing fad, or they don’t think it’s relevant to their industries.
This is a mistake. On-demand apps are here to stay, and that’s why looking into developing an iOS app or Android app is more important than ever.. The following points explain what we should expect the future of on-demand apps to look like, and why no business owner should ignore this trend.
Investment Remains Consistent
The amount of money users spend in the on-demand economy every year isn’t the only indication these products are growing increasingly popular. Investment in the sector has also grown consistently.
The amount of funding investors provide on-demand startups with is noteworthy as well. The analysis linked to above points out that funding for on-demand startups is typically higher than for other mobile products.
That said, the report also indicates certain markets within the greater on-demand economy have become crowded. Food delivery is one example.
This doesn’t mean the on-demand sector’s growth is going to slow any time soon. Instead, it simply means the on-demand sector is expanding to other industries.
The Future of On-Demand Apps
Again, on-demand apps have disrupted more than just the rideshare and food delivery markets. They’re also making plenty of other daily tasks easier than ever. On-demand apps allow users to order flowers, schedule visits at the salon, find babysitters, and much more. Users are turning to them to get laundry done more quickly. Thanks to on-demand apps, the practice of doctors making house calls is even coming back. There are few industries in which the potential for on-demand disruption is limited.
This trend is likely to continue. By the end of 2019, the number of smartphone users in the United States alone is predicted to reach nearly 250 million.
Additionally, millennials and members of Generation Y are playing an increasingly significant role in the overall economy. They’ve grown up in a digital world. Thus, they’ve learned to expect convenient and efficient service. That’s exactly what on-demand apps provide.
That’s why all business owners should consider how they can start developing products which meet these expectations. According to statistics, the on-demand economy is going to keep growing at a steady pace. Getting involved sooner rather than later is key to remaining competitive.