Technology is taking over or changing the way the world runs, there is rarely any industry that is not changing due to the constant technological advancement. Applications are a perfect example of disruption in the industry.
If you are an entrepreneur the term “disruption” might be familiar to you. Many innovative companies like Airbnb, Uber, Netflix, who challenged the norms and broke established business models, changed their respective industries.
This disruption was majorly caused by putting the power into the hands of smartphone users which forced the long-standing players of the industries to alter their traditional way of thinking or become irrelevant.
Let’s take International calling as an example: Earlier people used to pay tons of money to talk to those who were abroad. Even calling cards that allowed you to save some money on international calls didn’t help Skype transformed the industry by offering free calls abroad,
According to some of the best mobile app development companies, 6 indicators tell us if an industry is ripe for disruption. These indicators being:
- Inconsistency in Pricing
- Outdated technology
- Long Supply Chains
- Inconvenience caused for the customers
- Masses can’t afford the product or service
- Customers have no trust
During the 2010s it wasn’t just phone companies that had to suffer due to disruption but many industries from restaurant delivery to banking to booksellers were all influenced by the disruption caused in their industry.
Let’s take a look at industries that are on the verge of disruption in 2021.
1. Healthcare
Healthcare is one of the most expensive and inefficient industries in the world. Missed appointments, faults in systems, pharmacy trips, and massive queues for prescriptions are some of the problems that need solutions in this industry. Online appointments and consults for less urgent matters are some of the new disruptions caused by apps.
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2. Moving
There are no clear market leaders in the industry and is worth nearly 1 billion USD. On average a domestic move in India costs nearly 60,000 or upwards. The standards of pricing and service are not set differing from each other and brand loyalty is nowhere to be found. All these factors make it an industry ripe for disruption.
3. Fashion and Clothing
Shopping for clothes online has gained huge popularity over the past few years. Previously you would go to the high street and shop for clothes physically, which was tiring and time-consuming.
Thanks to apps and websites that offer price comparisons, discounts, free delivery, etc. shopping for clothes can effectively be done on your mobile from the comforts of your home.
So, to sum it all up, we believe that many industries are ripe for disruption and if you as an entrepreneur desire to make loads of money from your app, the secret to success is targeting the right industry for disruption.
