Once the on-demand Apps started to gear up with the track, there’s no looking back. The remarkable growth has put an end to the discussion regarding the survival of on-demand apps. The tech experts and mobile app marketing experts seem to be discussing the new apps and their positive reviews. Matrix Marketers, a mobile app development company’s research monitors an astronomical pace and the influential effects of this expansion. The impact is clearly visible in various industries apart from IT industry.

Growing On-Demand Economy

The growth of on-demand apps has two main reasons:

• The use of smartphone users is continuously increasing and the people have the mindset that the apps can be a great help to them.
• The on-demand market is capturing the consumable market which is bigger in size and looking ahead to have more benefits.

The latest reports on the growth of on-demand apps show that more than 22.4 million consumers annually and $57.6 billion is earned by the on-demand apps. The largest category of on-demand app users are the people who are connected with the IT related work. The 16.3 million consumers each month spending almost $36 billion annually by using the on-demand apps.

The on-demand services include food, home, health, beauty, transportation, and other similar services.

Think this is just a trend? Majorly the people between the age of 25-48 are using these apps. This means activity and growth should continue for years to come. What’s even more encouraging is that 46 percent of consumers have an annual household income of less than $50,000. This means the on-demand economy isn’t just for the rich class rather it is the other way.

What it Means for the Business World

The question in a common entrepreneur’s mind arises that how he would be benefitted with this growth? They often try to link their business with the on-demand market. But now, the effect of growing economy can be seen in every industry as the trend of using the on-demand apps have grown and have become an integral part of our lives. With this revolutionized transform, the following changes are being felt across the board:

# Emergence of Online Service Marketplaces

The on-demand market is not the only growing market, new marketplaces are coming up in the huge way to drive the business in a new way. The objective of every company is to successfully do the global business. The technology plays a supporting role. The apps are developed as per the specific business requirements by maintaining the uniqueness of doing the business. More and more businesses are discovering their own version of on-demand implementation and it’s creating a ripple effect throughout many industries.

In the coming months, more and more on-demand apps are going to hit the market to fill voids that exist in the respective industries. There is a possibility that some of the apps fall back but they can be further modified.

# Increased Emphasis on Entrepreneurship

The mobile market is witnessing two types of successors: (1) those who prefer to work for other people and find opportunities with companies that have significant growth potential, and (2) those who would like to rule and gain authority by opening their own businesses

The on-demand economy is sort of blurring the lines between these two categories. Entrepreneurship now permeates every level of the business world and it’s possible for professionals to have one foot in both.

These entrepreneurs are coming up with the new ideas and startups are capturing the market. Businesses now have to respect the fact that their employees are exposed to entrepreneurship and may want to experiment with the notion. The full effects of this mindset shift are yet to be seen, but something to keep an eye on.

# Demand for Personalized Work

Customers have gotten a taste of personalization and (not surprisingly) they want more. For businesses that operate in industries where on-demand services haven’t yet taken root, this represents an opportunity to pivot. If you can offer what everyone else is offering, only with better personalization and quicker service, you’ll have a real winner.

The trouble is that you aren’t the only one who understands this. Lots of businesses are working hard to be the first one to market in their niche. As a result, it won’t be long before better personalization is available across the board.

# Workplace Flexibility Becoming More Important

The traditional 9-to-5 workday culture is getting over with the apps designed for the on-demand economy. The surveys reveal that an on-demand worker is likely to work part-time, with 72% of part-timers choosing to work as independent contractors in the on-demand economy to earn more money.

The flexible work environment has brought a lot of complications for the IT and other service providers. As work-life balance has been disturbed to a large extent and sometimes there is difficulty in delivering 24/7 services. On the other hand, we’ve seen businesses respond with remote working policies, flexible scheduling, and even unlimited vacation days. The overall growth will be achieved when the on-demand app marketplace will start benefitting both, the entrepreneurs and the workers How Will the On-Demand Economy Impact You?

We’re officially in a new era of business and the question you should be asking yourself is this: How will it impact me? The on-demand economy isn’t going anywhere. The companies like Matrix Marketers are required to reform their business needs to decide how it can adapt.

This isn’t to say you need to go out and launch an eCommerce marketplace, but you should want to adapt your business model to the changing climate around you. Customers are demanding flexibility, personalization, and responsiveness. At the very least, you must be able to satisfy these desires.

Conclusion

Changes you make now could have a far-reaching impact on your business down the road. Don’t resist change. Instead, recognize this change as an opportunity to grow your business and connect with new customers. To develop customer centric applications and be the part of on demand market by hiring matrix Marketer’s app developers to deliver their best services!