Making Money From The On-demand Economy!
Monday May 27, 2019,
4 min Read
Startups have been a beacon for dreamers who bring some of the most unique solutions to the world. With the markets’ tectonic shift towards convenient technology, it has become a gruesome task for entrepreneurs to purvey to.
Leading dictionaries describe convenience as a state of performing tasks with ease. But in today's technological ecosystem, convenience can be defined as a means to get things done with ease. With ideas flowing like a river, the potential to achieve unforeseeable marvels seems possible.
What are on-demand services? And why are they so great?
You would have heard of apps like Uber, Lyft, UberEats and others which are crowned as some of the leading on-demand service providers in the market. They offer numerous services including taxi on call, 24/7 food delivery and much more to their users.
Let’s take a look at the stats on how progressive the on-demand industry is,
- As of now the worth of the global taxi market is $108 billion
- Ride-hailing apps handle 15 million trips per day globally.
- The number is expected to reach a whopping 97 million trips by 2030.
- Revenue in the ride-hailing market is expected to reach a revenue of US$26,315m by 2023.
On-demand services are basically an advanced solution designed and developed to deliver users with on-the-go services without the need to wait. These services remove the dependence from the traditional ecosystem and bridge the gap between service seekers and service providers.
They are titled great for the convenience they offer their customers. With the age of smart devices such as mobiles, tabs, smartwatches and other devices, users can call a taxi within minutes, get food delivered to their offices, enjoy a special manicure at their home or get a leaking pipe fixed from a professional. All this is made possible with dedicated apps or an all-in-one app available on leading online app stores.
What industries can on-demand services cater to?
A ready-to-serve application can be designed, developed and customized to fulfill any needs that are present or may be present ahead. The following industries are digitized,
The transportation industry is currently the most lucrative business with great potential of on-demand service for taxi, trucks, cycles, boats, ships and other means of transport.
The industry is witnessing a growing demand for doorstep delivery of food. With numerous individual restaurants and big chains, the market is getting highly competitive.
On-demand applications help in catering to the growing needs by offering service providers the right platform to connect with service seekers. Via the app, users can choose from a number of service providers with special filters such as ratings, reviews, prices, location, etc. and decide accordingly.
This industry has been serving millions for generations. With dedicated on-demand services, a service provider can connect with service seekers directly and fulfill the delivery requests as per schedule.
With the dating industry entering the age of technology, the needs and expectations of users are evolving simultaneously. With a dedicated dating service providing app coupled with an advanced match-making algorithm, this industry could witness a massive shift from traditional dates to the next-gen meet-up.
With new names getting added to movies, music, shows, etc., the industry is set to grow exponentially. On-demand services can cater to this industry by offering a stage for entertainers to get connected with their audience.
Of all the industries, the Transport sector has undergone drastic transformations after the advent of apps in it. There are many popular players earning bounteous revenue from the alluring on-demand transport industry. Some of the popular players are,
Startups and entrepreneurs are proliferating every day and a few emerge to be successful because of their unique business strategies. Thus the on-demand market supports anyone with a unique idea.
Wish to enter the advantageous on-demand world with an app like Gojek/Uber/Lyft? I bet now is the right time to enter the market with an advanced app. Contact us for more info!