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. 

• On-demand Ground Transportation

The taxi transportation industry is one of the first few industries to be disrupted by the on-demand economy. Uber, the technology-led business model has raised a $40bn business. Many existing cab industries have launched their own mobile apps making it easy for their customers to book a cab.

• On-demand Fuel delivery 

On-demand fuel delivery is app-based services work like Uber for fuel. With a fuel delivery app solution in place, your users can order for fuel at any time and from anywhere. 

• On-demand food delivery app

The food delivery industries are one of the leading on-demand app industries. Online food delivery service works on removing the barrier between the merchants and the customers.

• On-demand Healthcare app

The healthcare industry is becoming one of the most chosen destinations for entrepreneurs who want to build an empire in the on-demand space. On-demand apps have changed the way patients interact with doctors and have also made it possible for them to order prescribed medicines to be delivered at their doorstep.

Conclusion

At times, when COVID-19 is spreading rapidly across the worldwide affecting millions of individuals as well as businesses, transform your business into an on-demand economy service is the best option for you to save it from coronavirus effect.