The year 2020 will witness the growth and utilization of advanced technologies in every sphere. As smartphones are an integral part of our lives, on-demand services are becoming a crucial part of user experience. On-demand mobile apps with many different app technologies are transforming market place trends.
For a business, on-demand services it provides must be a favorable experience for their customers. These days’ customer value convenience, low costs, and trustworthy quality. On demand app development services allow the business to provide services that can easily be reproduced to high ROI. Vertical platforms are focusing on straightforward products and services to meet customer demands.
The business report indicates that on-demand services in the United States nearly crossed a $1 billion industry in 2019. Presently, horizontal marketplaces are offering a wide range of goods and services to large mobile users. On-demand services will soon become the standard of the marketplace.
Future of the ‘On-Demand’ Economy
Uber and Airbnb are some of the best examples that define the on-demand market. Harvard Business Reports that the on-demand economy invites 22.4 million consumers annually. Using cutting-edge technologies on-demand app development services is trying to eliminate friction between the buyers and sellers.
Businesses in various segments are building mobile apps to enable service utilizing a wide digital spectrum. On-demand mobile app development services have been the game-changer, and the handiness they have brought for customers is amazing.
On-demand services: food delivery, taxi booking, healthcare, grocery, home care services, and other hyperlocal services are trending the market all around the world. This usage will grow this year as digitization takes place at higher levels.
2020 will be the year for businesses to target the new potential customers who are stepping into this sector. Advanced technology is changing the way we live and that is why businesses are investing more than before. Gradually, businesses are realizing the potential in diverse industry segments and consumers are embracing the benefits of this new economy.
The number of mobile phone users has surpassed 5 billion marks as of 2019. This can give an idea to the startups and enterprises who are thinking about investing in on-demand services.
Untapped Potential in the On-Demand Services Sector
Today on-demand apps have become deep-rooted in the service industry. Successful businesses that got early into on-demand mobile app development are more likely to become market disruptors.
A report published on Business Wire reported that the global online on-demand home services market will grow at a CAGR of close to 49% between 2017-2021. This shows that there is immense scope for on-demand services to expand into new industry segments.
The year 2020 will see on-demand apps being more integrated with travel, fitness, healthcare and similar industries allowing the business to pursue their potential customers. Thus, disrupting existing markets, on-demand services would benefit the brands from the use of mobile technology to keep their operations efficient.
The on-demand industry is headed to improve user experiences leading to current market disruption. The industry experts believe that established businesses will try to partner with disruptive on-demand businesses. The future of on-demand services will require much more due-diligence concerning the customer services considering the entire user journey both online and offline.
These days’ vertical marketplaces target highly specific problems and customer segments. With the help of the tech trend such a market focus on straightforward products and services that people need on a daily or weekly basis. With on-demand services businesses in various segments can ensure that their marketplaces can always meet customer demand. There are several businesses in the market to solve customer problems, the ones that provide solutions faster and make it a more convenient win in the ‘on-demand’ economy 2020.