Researched Amazing Facts about On-Demand Apps Economy


Written by Hemendra Singh on September 12, 2018 | Updated on: September 12, 2018


Researched Amazing Facts about On-Demand Apps Economy

The app development market is increasing at rocket speed. Many startups are rising in this industry. Mobile apps occupy 54% of time spent on digital media. 6.6 million apps are present in the app store. Though popular types of apps are entertainment, music, games, social networking apps, messenger apps, there is one more name with increasing popularity called on-demand apps. On-demand apps economy market is taking a great pace with positive revenue.

There are 86.5 million Americans who have used an on-demand service. 10,293 billion US dollars were invested in the fourth quarter of the year 2017. There are various reasons why on-demand app development is getting so popular. The main reason is that these apps offer extreme ease to the end users.

Not just it is easy to use the on-demand app, but it also easily get real-time service at the doorstep. These apps can be about food delivery, grocery delivery, cab booking. Ola, Big Basket, Uber, Uber Eats, Urbanclap are the favourite on-demand apps. It is incredibly convenient for users to use on-demand apps.

Stats about On-Demand apps economy

#1 Investors are watching On-demand app industry:

Since the apps are so promising, many angel investors invest in such on-demand apps. On-Demand app development company can get the resources they need to grow further. In the year 2014 74 Billion US dollars were invested in the on-demand app market, and in the year 2017, the amount invested reached 10,293 Billion US dollars.

The significant number of fundings for on-demand app development is received from the Seed or Angel Investors.

On-Demand Apps Economy global deal

#2 Increase in revenue:

As the number of investors is increasing, the on-demand apps economy is also increasing. Before a decade, these apps were just in the form of startups. However, now the market has expanded so much that the revenue has reached the sky.

This equation involves some users, time spent on these apps, review, ratings. Since the app is so easy to use and offers excellent real-time service, the revenue is increasing. The app is using mainly by millennials.

As per a report generate by BIA/Kelsey, the on-demand apps economy revenue was $22 billion in 2015, and it will reach $57 billion by the end of this year.

On Demand apps economy estimated

#3 Time spent on these on-demand apps:

Between 2016 and 2017, the number of on-demand users is increasing since users are spending more time on ordering/booking on-demand service app.

In line with the data collected by the National Technology Readiness Survey in the U.S., it was predicted that the sum total spending on the on-demand mobile app services would rise from $48 billion in 2016 to $75.7 billion in 2017.

U.S. consumer expenditures in in-demand apps economy

On-Demand Apps Economy consumer spending

About the National Technology Readiness Survey (NTRS)

The NTRS has tracked technology behaviors in the U.S. since 1999.

Housing items, transportation, food delivery, etc. showed great hikes in on-demand apps. There are 56 million on-demand app users in the current year. Rockbridge estimates that this number will increase and reach 93 Million by the time we hit 2022.

On-Demand Apps Economy app users

#4 What impresses the users most:

There are various features of on-demand applications. It is essential to conduct a survey which indicates what feature is doing the best. So that app development company can work more on that feature and enhance the functionalities.

20% of users in the US have used on-demand industry in 2016. Now the number has increased to 34% by the end of 2017.  The feature that allows users to find service online on the app is the most loved feature.

70% of users stated that this is the most useful feature. 62% of users love online paying and tracking the order or delivery person feature. It is easy to book and track the service delivery person.

#5 Type of users of on-demand mobile apps:

Through a survey conducted by research company, Rockbridge found that most of the users belong to the urban areas. From the total percentage of users of on-demand apps, 59% of the on-demand users are male.

The highest number of users falls in millennials category.

55% of users are between 25 – 44 years age group.

54% of users live in the suburb, and 18% reside in the inner city.

The annual income of 68% users is around $50,000, whereas 47% belonged to a household income of $75,000 minimum. 45% of users are educated.

On-Demand Apps Economy user category

#6 Early Adopter Class of Users:

What is the meaning of early adopter? These are the people who are tech-savvy who comes under “techno-ready” segment and has a fear of missing out. These people keep an eye on what is new in the technology world and want to try everything new. There were 41% of early adopters of on-demand apps in the year 2017.

The on-demand app development market is growing day by day and these are the stats proving so.


Latest Blogs

Get the latest insights of technologies, trends, and market. Learn More and Stay Ahead.

Why are Chatbots the Future of Marketing and Business Automation?

In this digital world, we came across different platforms whether web development, mobile app development or others to put your business in front of the global audience. When web development…

5 Major Importance of Sales Force Automation Software

What is the Sales Force Automation?

Did not get that? A Sales Force Automation is termed as the process of decreasing the human efforts and implementing an artificial…

Flutter Guide 101: Future of Cross Platform App Development

The tech world is ever-evolving and we witness this almost every day with the emergence and fall of new technologies in the market. However, nowadays the sector that’s pulling major…

We would be happy to hear from you, Please fill in the form below or mail us your requirements on







Attach any File!


Get In Touch

Renowned mobile app development company delivering user-engaging mobile applications for multiple industry verticals.

MAIL TO OUR SALES DEPARTMENT
OUR SKYPE ID
USA USA

Atlanta

925 Battery Ave SE,

Atlanta, GA, United States 30339

Cincinnati

727 Forum Apartments, Apt #705W, Martin Luther King Dr W,

Cincinnati, OH 45220

Tel +1-315-381-4100

UK UK

6 Petersham Cl,

SM12SZ

Sutton, United Kingdom

Tel +44-776-907-2392

AUSTRALIA AUSTRALIA

Unit 2, 32 Homebush Road,

Strathfield, New South Wales Australia -2135

Tel +61-2-8003-4196

DUBAI DUBAI

Apartment 512 Building 49, Discovery gardens,

Dubai, UAE

Tel +971-564840150

INDIA INDIA

P. No.31, Shree Krishna Tower, Nirman Nagar- E, Ajmer Road, Opposite Asopa Hospital,

Jaipur (Raj.) India-302019

Tel +91-72970-00999

DMCA.com Protection Status Protected by Copyscape