The State of On-demand economy is nearing USD 57 billion as the year 2018 ends. The economy grew from USD 22 billion (2015) to USD 34 billion in 2017. Thus, the numbers look promising for the on-demand sector. If we don’t talk about the number, this market has offered better convenience than other sectors this year.
Slowly, startups are rising to be the competitors in this sector. The state of the on-demand economy right now serves only 7% of its potential market. thus, there is still a lot of room for new startups that provide on-demand services and a wide variety of industries waiting to be disrupted. The future is not only bright for big players but also for startups. And the employees engaged in this sector are satisfied than earlier. According to the report, 51% of people who offered services in on-demand economy admitted that their financial situation has improved in the past year.
The state of on-demand sector covers so many verticals from laundry to uber like apps that as of 2018 86.5 Million Americans were using on-demand services this year. The global economy has accepted the rise of this modern market and wants to reap the benefits before the competitions stiffen. Hence, investors are interested in startups around the world who offer something innovative.there was a total of $10,293 Billion until the end of the year 2017!
On-demand economy is accepting of startups when compared with other industries.being a newfound market, startup have huge potential to reach success. The state of the on-demand economy gets better with each passing year.2019 will be the year of bigger growth and technology trends that will benefit the customer The rise in awareness has brought in an increase in the perceived advantage that users are getting by using the on-demand services. This means that the growth of this modern economy is inevitable in the coming years.
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