{"id":13295,"date":"2018-10-30T11:44:56","date_gmt":"2018-10-30T06:14:56","guid":{"rendered":"https:\/\/mobisoftinfotech.com\/resources\/?p=13295"},"modified":"2026-04-14T16:20:13","modified_gmt":"2026-04-14T10:50:13","slug":"all-about-on-demand-economy-and-the-industries-being-disrupted-by-it","status":"publish","type":"post","link":"https:\/\/mobisoftinfotech.com\/resources\/blog\/all-about-on-demand-economy-and-the-industries-being-disrupted-by-it","title":{"rendered":"All about On-demand Economy and the Industries Being Disrupted by It"},"content":{"rendered":"

Nine years ago, two young entrepreneurs collaborated in San Francisco to launch a mobile application through which the users can order a ride with a few taps on their smartphone. The app identifies the GPS location, sends the request to the driver and the cab reaches to the spot. Little did they know that the start-up will create a disruption in the four-thousand-year-old traditional business model. <\/span><\/p>\n\n\n\n

Fast forwarded to 2018, as the app is close to completing its first decade of operations, it has almost become a household name. It has disrupted the ground transportation industry, witnessed explosive growth globally and has become the <\/span>highest valued private tech company in the world<\/span><\/a>. The company is none other than Uber, founded by Travis Kalanick and Garret Camp, which broke new grounds in the traditional business ecosystem.  <\/span><\/p>\n\n\n\n

The last decade witnessed the emergence of numerous such start-ups and apps giving rise to the on-demand economy. Started with food delivery and car rentals, on-demand phenomenon is now visible in healthcare, pharmacy, grocery, home, and many other hyperlocal services, enabling users to have immediate access to products and services using their smart devices. <\/span><\/p>\n\n\n\n

Driven by the technological advancements and fuelled by the urge of the new generation for instant gratification, the on-demand economy is booming rapidly. Read more to know about the rise of the on-demand economy and how you can capitalize on this transformation.<\/span><\/p>\n\n\n\n

What is On-demand Economy?
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On-demand economy<\/span><\/a> is defined as the economic activity created by digital marketplaces that fulfill consumer demands via immediate and convenient access to goods and services. It is sometimes referred to as \u2018access economy.\u2019 <\/span><\/p>\n\n\n\n

The on-demand companies continue to disrupt the traditional business models and it shows no signs of slowing down. The Harvard Business Review, in its report in 2016, has estimated that the on-demand business models are attracting more than <\/span>22.4 million<\/span><\/a> consumers annually and generates revenue worth <\/span>57 billion<\/span><\/a>. As per the prediction of PWC, the on-demand economy will reach a whopping <\/span>US$335 billion by 2025<\/span><\/a>.<\/span><\/p>\n\n\n\n

3 Technologies That are Great Enablers of On-demand Economy<\/b><\/p>\n\n\n\n

The on-demand economy is a manifestation of various technological advancements that have happened over the course of time. The proliferation of API\u2019s has enabled developers to come up with secure and feature-rich apps within a limited budget. However, there are majorly three technological advancements that are considered to be the great enablers of the on-demand economy. They are:<\/span><\/p>\n\n\n\n