The on-demand economy is large, and getting larger. The on-demand economy is attracting more than 22 million consumers annually and around $57 billion in spending. The on-demand economy is beginning to attract a diverse group of consumers.
The largest category of on-demand app development spending is over online marketplaces like eBay, uber, instacart, elance, stylesheet and more. On-Demand online marketplace is ahead amongst food, grocery, and other services. Today On-Demand consumers are nearly twice as likely to be highly innovative Explorers as compared to consumers in the population at large.
At the same time, the on-demand app development economy is meeting the needs of various segments with discomfort and insecurity with the rising technology services, implying the platforms are doing a good job making their services more accessible and avoiding difficulties that traditionally slow the growth of other innovative products and services in the market. The size and rapid growth of the on-demand economy clearly show that consumers are attracted by the user experience, added convenience and other benefits it provides.
The on-demand app development economy is rapidly expanding across the global economy. The reason is quite simple as more and more consumers are attracted towards smartphone technology and have already started using it. The adoption will increase more as users are enjoying the use of this latest technology.
There are various firms that have recognized that the on-demand economy is becoming a big opportunity to miss. On Demand, the economy is the most challenging industry with new business models and new ways of engaging customers across the world. There are various industries which are required to move ahead in an on-demand economy with various new business models and new challenges to face with some creative ways to engage with new customers.