A short-term trend, a bubble or a hype that is soon going to end, many such questions strike our mind when we hear about the On-Demand Economy. There are many questions but the answer is HERE!
According to the “Harvard Business Review Report”, the On-Demand economy is attracting more than 22.4 million consumers annually, which itself give answer to many such questions.
Entrepreneurs now no longer have to worry about storefronts, staffs or even printing impressive business cards. The rise of On-Demand marketplaces has enabled business owners to access a large customer base by pulling out their smart phones.
How Does On-Demand Economy Work?
On-Demand Model has thrived through the law of supply and demand. It has revolutionized commercial behavior in cities around the world. The model comprises a number of companies that offer different services. For instance, On-Demand apps like Uber and Zomato are perfect for anyone who is looking for a means of transportation. This has opened doors to the real-time fulfillment of goods and services, which consumers have embraced with an unprecedented frequency.
What Is The Growth of On Demand Economy?
Anyone who finds themselves using their smart phone to call a taxi or order for food is benefitting from the On-Demand Economy. The concept of on-demand goods and services is not new; therefore, the economy has capitalized on the height of this frenzy. It is no secret that consumers are willing to pay a premium for comfort and convenience.
This desire for immediate gravitation has allowed the On Demand economy to thrive. It is not just giants like Zomato and Uber that are gaining from this. An influx of upcoming companies is also successfully providing convenience in their own niche. According to research, this will be a $57 billion by 2018. The On-Demand economy grew from $22 billion in 2015 to $34 billion by 2016. The economy has helped in solving unemployment problems that plague different countries. This only means that the economy has never been better. Upcoming Business on the On Demand Economy Although a number of bleak pessimists still think that the On Demand Model is a bubble that will soon burst, any upcoming businesses have decided to capitalize on this economy. The most popular businesses include deliveries, massage services, hair and makeup, selling gadgets and real estate. Due to the nature of the services that these businesses offer, many individuals find the On Demand Model successful.
According to the Cruchbase Analysis, the total funds raised by different start-ups to have Uber-like services are below:
Upcoming businesses are also growing on rapidly due to the ready customer-base that is in need of the services that are offered. On-Demand companies keep pushing the boundaries for convenience.
How Can Miracle Studios Help?
Because Miracle studios has Jerry which a is a pre-built, plug and play, customizable On-Demand Solution script which helps launch your next big idea for an Uber-like project.
It does not matter what industry you are in and from which part of the world you are starting from, Jerry can be easily modified to suit your needs and provide best of user-experience.