Examples of Mobile/Web Apps & IoT Disrupting Entire Industries
Today, some of the biggest digital platforms around the world include Netflix, Airbnb, Uber, and Whatsapp. They are the top and most common platforms that people use today.
These apps all run swiftly, however, these digital platforms are disrupting traditional industries along the way.
To begin, these digital platforms all run under a shared economy. They depend on employee resources and profits from the services provided to keep working. These corporations get revenue from their innovation and the publics need for them.
Moreover, services like Amazon, Etsy, and Walmart Marketplace have millions of sellers and are seen globally. These digital platforms are automated to ship individual orders, handle returns and answer customer questions. This makes it harder for other platforms to succeed.
As well, by this year, 20.4 billion devices will be connected to the IoT. These devices collect and share data through internet connectivity. They can connect beyond smartphones and computers to lightbulbs, microwaves, and wearable fitness devices.
These IoT devices can negatively impact society because of the disruption of privacy and security people will have.
Airbnb Mobile App
Furthermore, the popularity of Airbnb has rapidly grown throughout the world. It has over 6 million listings in 81,000 cities worldwide. The hotel industry is seeing the drawbacks of this phenomena, seeing less revenue and occupancy.
In fact, for every increase in the supply of Airbnb rentals, hotel revenues are seeing a revenue drop. Currently, it is hard to enforce Airbnb regulations, and local economies are continuing to see a drop in revenue.
Uber and Lyft Apps
Today, taxi drivers cannot make enough money to pay their bills and mortgage. They are not working long enough hours, and do not have enough work for the week. Taxi drivers who have had work for decades are now relying on apps like Curb.
This digital platform lets riders find a professional taxi driver near them, but still cannot compete with the demands of Uber or Lyft. Now, Uber and Lyft are seeing numerous legal battles from the consequences of “disrupting the market”.
Furthermore, Netflix, the world’s leading streaming entertainment digital platform, has disrupted traditional business models. Platforms like Netflix and Amazon Prime have enormous audience bases, attract top talent, and are taking the spotlight in award ceremonies.
As the top choice for entertainment, it uses “data driven decisions” to engage viewers for long periods of time. It also has a variety of genres that cater to each audience.
WhatsApp, Facebook Messenger, and WeChat
Moreover, digital platforms such as WhatsApp, Facebook Messenger, and WeChat have won over consumers with captivating customer experiences. Their product simplification and network upgrades also attract high amounts of customers.
In essence, these digital paltforms have features that adapt to the modern world. However, telecom industries are suffering because they are unable to compete win over consumers.
Venmo and Zelle
Digital payment platforms such as Venmo and Zelle make it easy to pay a phone bill and split a check. They have made going to the nearest ATM something of the past.
Banks are being disrupted and are seeing that consumers are now moving money through themselves. Banks are beginning to fund apps like Zelle, which is an identifiable brand in this day and age. It lets consumers transfer funds from one bank account to another.
Venmo and Zelle are continuing to grow as people are recognizing these digital ways to pay. Banks are reevaluating their existing “payment systems” to adapt to this landscape.
The Big Picture
All in all, these IoT platforms, apps, and software have turned into today’s biggest corporations. While they run quickly and cater to people’s needs, they are disrupting traditional alternatives in the market. These include hotels, taxis, telecommunication services, and banking industries.
People are experiencing unemployment and companies are losing profits being unable to adapt to these disrupting platforms. Meanwhile, major IoT industries are make more advancements and continue to offer cheap and popular services that cater to the public’s needs.