The mobile app industry is very close to experiencing a massive transition.
This transition promises a complete restructuring of the manner in which mobile apps have been currently serving their customers to date.
From the app users’ point of view, this transition promises significantly higher customer-centric and diversified app services.
Among numerous trends that are playing their part in this transition, there are few that are predominantly driving it.
Let’s have a look at these major trends and how are they actually transitioning the mobile app industry.
Real-time and personalized value offering is slowly becoming a huge trend among the business world, and IOT is the major driving factor behind this.
Apps connected to IOT devices would have the potential to re-engineer the manner in which they serve their customers in the near future.
This involves serving the customer with highly personalized information exactly when he needs it.
The above picture shows those service categories that would be most influenced by IOT development in the future.
Now let’s talk about a potential use-case of IOT integration into mobile apps.
“How a fitness wearable app would provide services to its customers in the future”:
Let’s say a consumer is using a fitness wearable devices like Fitbit to track his daily calorie consumption and calorie burn.
He has stated “Fat Loss” as his primary goal in his fitness app.
In such a scenario, an IOT device that is connected to the fitness wearable would be able to provide the customer with unique personalized information.
The IOT based device would track information from the fitness wearable and proximity data through beacons, and provide notifications/e-mails based on the consumer’s location.
For example, information regarding the nearest affiliated fitness supplement stores that are operating in proximity to the customer’s location.
The app can also suggest purchasing certain supplements related to the customer’s fat loss goal, like whey protein or fat cutters.
Implementing AI is gradually becoming a necessity for businesses.
It’s quite harmless to say that we have been experiencing an over-exposure of mobile apps nowadays.
Of the 5 million apps that are operating in Google and Apple stores, a customer can find innumerable apps even from the most niche service categories.
Due to this, the scope of creating an app that is highly unique and different from its contemporaries has diminished greatly.
Therefore Mobile app development firms nowadays are looking for mannerisms in which they can beat the competition when it comes to actual services provided by these apps.
This primarily includes:
The ideal solution to this is to create AI backed Chatbots that have the required emotional quotient to analyze the customer’s query and reply accordingly.
However, creating a chatbot is not the real challenge.
Providing them with an appropriate emotional quotient is.
Without an emotional quotient, chatbots would turn out to be nothing but a mechanized human customer executive.
The following graph shows the major functions that customers expect a chatbot to perform in the future:
It can be seen that one of the most dominant expectations (35%) among today’s customers is that future chatbots should have the ability to solve customer queries or complaints.
Therefore Smart chatbots are going to be the most sought after offering from AI in the future.
The future would see smart chatbots being integrated with apps that perform relatively more complex and hardcore services for the user.
As per a PWC report, the overall market revenue of the on- demand app economy is going to increase from 14 billion as of 2014 to 335 billion by 2025.
This extravagant leap in the revenue generation is a great indication of the manner in which on-demand apps have made their customer’s life, multiple times easier.
Every On-Demand app performs its operations based on a core functionality:
That is providing a solution that requires almost negligible efforts from the consumer’s side.
The idea of getting a service delivered and barely moving a muscle has appealed to today’s consumer in a humongous manner.
So what is that monstrous change that the on-demand app economy would experience in the very near future?
Well, it’s a massive diversification in its service portfolio.
Here are three new service categories that are touted to create a strong impact in the On-Demand app industry, along with the existing major players.
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