Rise of On-demand Applications in COVID-19 Era- Key Beneficiaries of On-demand Economy
COVID-19 pandemic has remained undefeated since the first known case was reported in November 2019 in China. Though the entire world battles against it, the outbreak is still powerful enough to disrupt our ways of living. In the lockdown like situation everywhere, people are forced to remain at home and find it difficult to get the necessary services or products. Thankfully, advancing technology has given us a 360-degree solution for this problem in the form of on-demand applications.
It all started with an on-demand ridesharing app Uber. Today, almost all major industry sectors including real estate, retail, logistics, healthcare, hospitality, and entertainment count upon on-demand apps for providing services or sending products at their customers’ doorstep. The on-demand app development company can bring dedicated apps for various services like grocery and food delivery, home maintenance, etc. Be it a startup, SME, or a large enterprise, the on-demand mobile app development company can assist every industry to make the most of a thriving on-demand economy.
The on-demand apps offer comfort and convenience to the users while meeting their demands efficiently. These apps facilitate people who are at home or at work to order any products or services online. The mobile app development company can integrate advanced features in the app and make it ready to serve hundreds of thousands of people at once. The on-demand app makes the difference in this corona age by providing convenience, cost-efficiency, and scalability.
Quick Facts about On-demand Apps
- FoodBoss app has recorded over 16% rise in profit in March
- Instacart has recorded 218% rise in the number of daily downloads
- Walmart Grocery has surpassed Amazon with a 160% increase in the number of downloads
- Domino’s Pizza and healthcare platform CVS have hired over 20k delivery persons
Today, more than 22.4 million people spend around $57.6 billion in various on-demand segments like transportation, online marketplace, food/grocery delivery, and other necessary services. It is predicted that the on-demand economy will reach $435.41 billion in the year 2021 with a CAGR of 49%. Many entrepreneurs consult the on-demand app development company to leverage the benefits of a thriving on-demand economy and boost their business.
Let’s make a list of major beneficiaries of on-demand apps.
Top Beneficiaries of On-demand Apps
The biggest beneficiary of the on-demand economy is the retail sector. Be it a grocery, food items, or anything else, people tend to give orders online in this COVID-19 era. Both retail and online marketplaces have implemented the on-demand concept effectively to maintain the supply chain, improve the shopping experience, and enhance the delivery process. Customers can readily place an order through an app and receive it speedily.
The second biggest beneficiary sector is healthcare. During the lockdown or quarantine season, people need of medical care and medications. The adoption of the on-demand concept has fulfilled these requirements with the features like real-time appointment booking, on-demand consultation, instant data sharing, and home delivery of medicines.
Nationwide lockdowns have made it impossible to dine out. Millions of people need food while remaining at their homes in this corona age. Many restaurants offer delivery takeouts, but people prefer to get the delivery of food at their homes in this turbulent time. The on-demand food delivery apps can come to the rescue in such a situation. Restaurants can send food packages to their customers’ doorsteps using the food delivery apps.
Taxi-hailing apps like Uber and Lyft have changed the way we travel. We can book the cab instantly and pay online securely. When relaxations from the lockdown are given, people can move from one area to another easily using these cab-booking apps during the corona age. Many entrepreneurs want to implement an Uber-like model, and as a result, Uber clone apps are in trend these days.
The banking and insurance sectors are ready to combat the situation arises due to the COVID-19 pandemic. The BFSI sector is the biggest contributor to the on-demand app economy. The on-demand mobile app development company can provide quick, secure, and cost-effective app solutions for the finance sector.
The courier and logistics industry is gone through radical changes in their processes with the advent of on-demand courier delivery app. Uber Freight and Convoy apps have helped companies to get rid of the traditional logistics model, which is full of booking and delivery hassles. Thanks to the on-demand app, customers can track their orders in real-time and get the parcels at their doorsteps.
- Real Estate
People who want to buy a new home or want a house for rent prefer virtual visits due to movement restrictions in COVID-19 age. The on-demand real estate app can assist people to get this benefit while eliminating the need for middlemen. The real estate app offers a robust platform to buyers and sellers alike while saving their time and effort. Also, the digitized offer and submission can make the entire process simple, safe, and swift.
- Home Services
As per one estimate, the on-demand home services app market can reach $1574.8 billion in the five years between the year 2020 to 2024. Many startups have started providing home services including home cleaning, laundry, interior design, maintenance, and other professional services using the on-demand apps. People can book necessary services using such apps and the companies can generate revenue by providing these services.
If you have a brilliant idea for providing on-demand services, you can do enough market research and make a roadmap before consulting the mobile app development company. The app developer can transform your on-demand startup idea into a user-friendly app.
The growing demands of people during this quarantine season need to be addressed effectively. A feature-rich on-demand application can help your company to satisfy your customers with improved services. The on-demand app can provide products and services right at the doorstep and meet your customers’ expectations. It can generate more revenue for our business. All you need to find a reputed and reliable on-demand app development company to bring a user-friendly app.
Suria International is a leading mobile app development company based in Singapore. We have an in-house team of experienced developers who can build robust on-demand apps with desired features. If you own a startup or want to expand your existing business through on-demand services, simply send us an email at email@example.com. We will be glad to develop high-end, customized on-demand app solutions for your enterprise.