The on-demand economy has rapidly transformed the way consumers access goods and services. Powered by technological advances, particularly in mobile applications, real-time data, and logistics, the on-demand economy has redefined consumer expectations, ushering in a new era of immediacy across various industries.
Several trends have emerged showing that modern consumers prioritize speed, convenience, personalization, and flexibility more than ever before. A study by PwC indicated that 73% of global consumers prioritize convenience in their purchasing decisions today. Consumers have now come to expect instant satisfaction from service providers, and a McKinsey study found that 20-30% are willing to pay premiums for same-day or instant delivery. Additionally, the rise of urbanization and the rapid adoption of mobile phones have provided further impetus to these cultural transitions. In short, the on-demand economy is not just here to stay but will continue to grow to become the norm.
At the heart of this shift are four key sectors: E-commerce, Quick Commerce, Ride-hailing, and Food Delivery. Collectively, these four sectors contributed to a combined global TAM of ~US$6Trn in 2023 and is estimated to go up to ~US$10Trn by 2030.
The realization of this potential US$10 trillion opportunity is not only real but rapidly unfolding. At the center of this massive growth potential lies data—the most valuable asset in unlocking success within these sectors. Data enables companies to understand customer behavior, optimize operations, and personalize experiences in ways that drive both customer satisfaction and profitability. Advanced analytics, AI, and machine learning allow businesses to scale efficiently, delivering services faster, more cost-effectively, and precisely when consumers need them. For companies aiming to achieve long-term dominance, access to and intelligent use of data is the key to harnessing the full potential of the on-demand economy.
Anakin is perfectly positioned to capitalize on this exponential growth opportunity. As businesses in E-commerce, Quick Commerce, Ride-Hailing, and Food Delivery sectors vie for market share along with an increased focus on profitability, as they go for public listing, market expansion, and consolidation with ambitions of becoming a super app, real-time data on competitors' pricing strategies and product offerings have become invaluable. Access to this data enables companies to make dynamic pricing decisions, optimize product selections, and stay competitive in a rapidly shifting landscape.
We see a unique ~US$10Bn opportunity for us in this market. As companies in these sectors grow and face increasing competition, they are actively seeking data-driven solutions to gain a competitive edge. This has created a strong demand for partners who can provide real-time competitor pricing and information, which is crucial for optimizing their strategies. Driven by a strong tech team constantly innovating to stay ahead of the curve and offer new and flexible solutions, we are uniquely placed to meet the evolving needs of these industries, helping clients stay agile, informed, and ahead of the competition in this dynamic landscape.
Today, companies are increasingly confronted with a critical build vs. buy decision when it comes to their data requirements. While building in-house solutions may seem appealing, many are realizing that managing vast and complex data, especially in real-time, requires significant engineering resources and expertise. This is where Anakin comes in. Our advanced technology stack, coupled with a team of seasoned engineers, allows us to deliver high-quality, scalable solutions, enabling businesses to focus on growth while we manage the complexity behind the scenes.