WHAT ARE ON-DEMAND SERVICES?
On demand services can be defined as the services that help users use the resources at run time whenever and wherever needed. This can be done through the provision of cloud computing technology that helps in easy provision, access and deployment of applications that provide the best of components just as enterprise architecture. On demand services are an emerging trend these days as these services allow the flexibility in scaling the necessary resources whenever the target audience needs them. In another 100 years, economists will look back to the 21st century as the foundational years for the on-demand services phenomenon. What we witness about the on demand services today is just barely a fraction of what this technology will grow up to be in the coming century. Massive innovations in the aspects like on demand delivery, transportation of its services and its supply chain is believed to have an immense impact on the companies who have succumbed to these on demand services presently and even for the companies of the future.
INDUSTRIES THAT DRIVE THE ON DEMAND ECONOMY Having replaced the traditional business models in a sky rocketing speed, the on demand economy is the fastest way that has changed and paved the new path of business. Great amount of investments have been poured into these on demand businesses so that it emerges as an uphill battle with the old business model that has been reigning in the market scenario since time immemorial. Let us see the industrial sectors that have influenced themselves through the adoption of the on-demand business techniques:
- TRANSPORTATION AND TRAVEL
With the proliferation of the mobile devices and applications, a rise in the demand of on demand transportation has witnessed a surging need. This figure is expected to reach $290.3 billion by 2025. Technology has played a key role in developing the core needs of transportation and travel on demand services. That is why this on-demand service can provide advantages like accurately locating the customer for initiating the on-demand transaction, helps to match demand with available supply, optimizing the sequencing algorithms that account for real time and status of traffic conditions and finally advance features that help customers to get every update about their seamless driving experience. Following are some of the main services that the on- demand transformation and travel applications provide:
- E-Hailing: Helps a user to take a ride from his exact location specified in the app.
- Car Rental: These are generally offered by agencies where a customer can use a rental car for a few hours or for a few weeks.
- Car Sharing: A model of car rental, here the individuals rent the car for a short span of time or may be even for a few hours.
- Station Based Mobility: This helps an individual to share a car by using the full seating capacity of the car.
- FOOD DELIVERY
The on demand services have brought some metamorphic changes in the food industry as well. This is being done with the help of a major psychological appeal of promising us to buy good food within limited or no efforts. Convenience is the main feature of any on demand service and this has been looked after with great consideration in these food chains available through mobile apps. The following are some of the greatest advantages today’s customers get though the on demand food chain services:
- Decision Convenience by making food in a jiffy and helping customers to choose easily too.
- Access Convenience where the food is made fast and easy to acquire.
- Transaction Convenience for target audience for easy pay through numerous payment online gateways.
- Benefit Convenience of getting food from more than one restaurant
- Post Benefit Convenience of making the food fast and easy to re-purchase.
- HEALTH CARE
The global healthcare industry is undergoing sea changes where healthcare organizations are making the most of their efforts in delivering the best of services. The main point of concern is dealing with instant service in specialized expertise cases for the cure of many illnesses. In this aspect on demand services is playing a role that ameliorates for the society where health is considered the biggest wealth. On demand services have been helping many people to schedule an instant appointment with a doctor or even arrange a doctor’s visit to the patient’s place by following some simple steps on the healthcare apps. These apps usually have sound affiliations with reputed hospitals and even help the target audience to order their medicines online for getting it delivered at their doorstep. These on demand services in the health sector have gained gigantic success and have thereby attracted many investors attention lately.
- PROFESSIONAL SERVICES
On demand services have left an impact on the professional services sector too as the global web content, search portals and social media market grew at a rate of 13% in the historic period and is expected to reflect an 11.8% growth rate from 2016 to 2020. With the provision of revamped social media presence by on demand services, the professional services firms have t harness the power of social media so that the main goal and vision is rightfully achieved. On demand services have the maximum potential in these sectors because it covers areas like mechanic, carpentry, electrician, pest control, baby sitting and plumbing.
- E COMMERCE
On demand services, in the sector of eCommerce, has made the advantage of getting quick deliveries possible as these services believe that time is the most important currency in the era of Internet purchasing. As all consumers expect to shop from any part of the globe, they expect immediate shipping to be an extension of their immediate gratification. This requires realization of the commercial scenarios and accepting the challenges posed by logistics for speedy shipping. All these are ensured by the on demand services in the sector of eCommerce too.
FUTURE OF ON DEMAND ECONOMY The features like strong, capability and extreme resilience gets reflected through the on-demand economy as it has been embedded with technology as well. This new economy has been trying to make services affordable, easy to avail and convenient too. Startups that have been taking baby steps in this on demand sector will slowly consume smaller startups too to emerge as a bigger enterprise and leave an impact on the on demand services economy.Two major reasons that make on demand services a burning need in today’s times is due to the advantages of having the power of mobility and availability of immense business opportunities. The power of mobility helps the customers to achieve ease and speed from these on demand apps thereby helping every sector of industries to take new shape. On the other hand, business opportunities help in incorporating these new technologies in order to shape their businesses according to the new trends of time and needs of target customers.
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