Why should you consider investing in custom web application development for your business? If you are looking for the answer to this question, this write-up is for you!
Custom web application development services are a standard option for businesses of all sizes in today’s world. It’s critical to comprehend why custom web apps are the future of business. This blog post discusses the top 5 industries that benefit from custom web app development.
The process of developing web applications specifically to meet the requirements of an organization is referred to as custom web app development.
Custom application development plays a great role in digital marketing. These applications can manage data, automate processes, and improve customer and employee experience.
Custom web app development has many advantages, but one that stands out is how it streamlines the procedure so your business may have the features it needs and operate smoothly at all times. A custom web application development company prioritizes business needs while continuously extending capabilities.
Customized applications are used extensively in many industries and are adopted for business purposes in a variety of specifications. One of the first businesses to use custom web application development services was Alphabet, followed by Facebook, Dropbox, HubSpot, and Amazon. They have reaped enormous benefits from the improved performance to give their clients a first-rate user experience.
Let’s discover the top 5 industries that have benefited from adapting customized digital solutions to meet their needs.
Top 5 Industries Thriving with Custom Web Application Development
As competition rises, more and more businesses decide to invest in apps after seeing their value. Most of them observed that creating customized solutions is advantageous for their businesses. However, certain industries are growing in this area more rapidly than others. Let’s find those leading industries.
- Healthcare Industry
Thanks to smartphones and the internet, healthcare is becoming a digital solution for people who need it from anywhere and at any time. Both patients and clinicians can easily use these customized healthcare IT solutions.
The purpose of healthcare applications is to give prospects a simple user interface for better managing their medical needs, fitness goals, hospital appointments, monitoring prescriptions and appointments, looking through test results, etc.
Users can communicate easily and keep far better records of their medical information with the help of custom healthcare web apps. Professional clinicians with the help of a top healthcare app development company can design an engaging and dynamic solution.
Custom healthcare app development is spreading like wildfire throughout the sector, whether for patient-centered or corporate workflow management solutions. Telemedicine apps help patients interact with clinicians from a distance, while healthcare CRM software makes it possible to streamline the workflow at the institution.
Growth of Healthcare Industry with Custom Web Application Development
Digital health sector investments have grown dramatically during the past ten years. Compared to just over one billion dollars in 2010, the industry saw investments of over 21 billion dollars in 2020. The demand for telemedicine apps had been rising even before the COVID-19 pandemic, but the pandemic significantly enhanced the need for digital health products to be deployed.
The worldwide market for digital health was estimated at 175 billion dollars in 2019, and by 2025 it is projected to generate close to 660 billion dollars at a CAGR of approximately 25%. (Source: Statista)
People can monitor and manage the status of their health using healthcare applications. For example, to take control and make timely changes, you can monitor key metrics, including caloric intake, exercise, blood sugar levels, and blood pressure.
Have a look at some of the most popular custom healthcare web applications.
According to Surescripts, the largest e-prescribing operator in the nation, the rate of electronic prescriptions in the United States from 2017 to 2021 has increased. E-prescriptions account for 94% of all prescriptions completed in 2021.
Benefits of Custom Healthcare IT Solutions
Benefits for Doctors & Patients
Benefits for Doctor
Improved patient monitoringBetter data securityImproved communication & collaborationStreamlined workflowReduces clinical diagnosis mistakes
Benefits for Patient
Fast access to healthcareEasy PaymentBetter health monitoring & managementReduction in medical costPersonalized healthcare experience
- Finance Industry
With the emergence of Finance Technology (FineTech), the finance sector has eliminated the previous method for communicating with consumers, gathering their feedback, and doing other critical financial duties. Solutions for web development and mobility in the finance industry are one of the great gifts provided by digital solutions.
The financial sector is undergoing a significant change. Customized digital solutions developed specifically for financial service providers wanting to improve business outcomes, benefit clients, and remain competitive are at the heart of this revolution.
Custom web application development services for financial firms have grown in prominence in recent years due to their capacity to address the complicated issues relating to business processes in the financial sector,
Financial services companies have experienced a considerable shift in multiple areas due to the development of fintech technologies. Both startups and established businesses in the Finance industry are looking for technology to change the economic environment or replace outdated systems and become nimbler, whether for corporate operations, customer experience, or even legislation.
Growth of Finance Industry with Customized FinTech Solutions
The global fintech-as-a-service market reached USD 232.14 billion in 2021 and is projected to increase at a CAGR of 17.2% from 2022 to 2030. Solutions for fintech as a service (FaaS) range from card issuance to payment processing to fraud detection. The industry is expanding due to consumers’ increasing preference for digital financial services.
The use of fintech apps, which is renowned for being one of the fastest-growing categories of apps in the US, has increased in step with the constant rise in digital banking systems. By 2026, the global market for digital banking platforms is projected to expand at a CAGR of 11.5 percent.
Due to the worldwide coronavirus (COVID-19) outbreak, Americans spent more time at home and on their phones. More digital banking spread over the area as a result.
Since 2017, the global fintech industry’s revenue has nearly doubled (Deloitte). The global Fintech market generated over $90.5 billion in sales in 2017. Since then, that amount has increased by more than 100%.
Benefits of Custom Web Application Development in Finance Industry
The benefits of using FinTech technologies for a financial institution are as follows:
Benefits of FinTech Solutions
|Financial institutions improve the efficiency of their processes through automation and FinTech implementation that is customized to the needs and nature of business operations.
The development of fintech makes a variety of financial services quicker and simpler. Simple, fast, and easy paperless operations are easily accessible without having to leave the house.
These technologies enable businesses to transfer funds between accounts in several currencies without paying excessive conversion costs. The strength of financial technology is convenience, not cost.
Faster Approval of Loan
Any online loan application is now accepted by lenders who only operate online and can offer same-day funding, a capability made possible by Fintech innovation. Fintech makes it simpler to secure a payday or short-term loan if you need one.
Highly Regulated & Risk-Averse
FinTech is still a young industry but is heavily regulated to provide strong governance and effective risk management. Remember this when selecting a FinTech software solutions provider for your financial institution.
- Education Industry
Modern educational software development greatly influences the evolution of the education sector in the current world. As a result of the digitization of the education industry, we get a wide range of cutting-edge learning tools. Creating e-learning apps is one of the best ways to reach a worldwide audience.
An e-learning application is a software that serves as a learning tutor for the user, enabling them to access educational materials and educate themselves via web or mobile apps at their preferred time and location.
The COVID-19 pandemic stopped our life, but learning continued during that period with eLearning apps. These applications enabled children to continue their education without any hindrance.
With the advent of custom web app development, education providers may deliver intelligent eLearning experiences and promote quality education. Additionally, it has several benefits over conventional classroom teaching strategies, which ignore kids’ learning capacities.
By allowing students to learn at their own pace, eLearning custom web application development companies significantly contribute to raising the standard of education. Tutors can build and post courses here in the shape of micro-nuggets, which are better at helping students understand various ideas.
However, several learning management systems (LMS) allow teachers to deliver hybrid or fully online courses that have all the necessary components of a conventional class.
For instance, websites like Coursera provide a wide variety of courses to anyone who wishes to learn something new about the world. Anything can be learned, including biology, math, programming, etc.
Growth of Education Industry with Custom web application development
Teaching and learning now have new possibilities due to technology. Before the advent of the digital age, classes had to be structured around lectures, discussions, and tangible materials. E-learning solutions provided by Custom web application development companies have positively impacted how we teach and learn.
The global e-learning market is anticipated to grow to approximately $400 billion by 2026. The worldwide e-learning market in 2019 was close to 200 billion dollars. The learning management system (LMS) market brought in almost 18 billion dollars in the same year.
The global digital learning app market recorded a CAGR of 25.4% from 2017 to 2021. According to research, it is expected to have a high growth rate at CAGR of 7.1% between 2022 to 2032.
Benefits of Custom E-Learning Application
Mobility & Portability
The portability of e-learning apps is their best feature.No matter where they are, students may start learning anywhere with just a mobile phone and an internet connection.
Educators can reach a larger audience and communicate frequently with the aid of eLearning. This ensures that everyone using this learning mode receives the same kind of instruction.
One of the most important advantages of learning apps is customization. It provides the most engaging learning opportunities, inspiring students to keep learning.
Unlike traditional classroom instruction, online learning gives you limitless access to the material. This is especially important during the revision phase of exam preparation. Thus, with eLearning, you may quickly attend lectures anytime you choose.
With traditional teaching approaches, it is challenging for educational institutions to focus on each student. However, with the help of online learning tools, teachers can give each student the same amount of attention. Teachers can constantly monitor each student’s performance thanks to online tests and technological tools.
- Travel & Tourism Industry
Custom Travel web application development has evolved into a one-stop shop for its users because you no longer need separate portals for buying tickets, renting cars, getting insurance, making purchases related to travel, etc. You can find everything connected to travel in one location.
Over the past ten years, the travel and tourism sector has entirely transformed. Digital platforms have changed the way individuals think. Besides this custom web application development companies continuously innovate new software and online resources.
When planning a vacation or making reservations for travel, these applications assist users in searching through a wide range of possibilities. This could involve organizing a road trip or reserving hotels using unique smartphone apps.
Tourism planning and the creation of travel apps have increased significantly in response to the enormous advantages of online booking, from where you stay to where you dine.
We now have tools that implement various aspects like event scheduling, flight and hotel booking, auto rental, identifying tourist destinations, and many other things combined into a single app thanks to custom web app development.
Growth of Travel & Tourism Industry with Custom Web Application Development
The total contribution of travel and tourism to the global gross domestic product (GDP) climbed by 21.7 percent in 2021 compared to the prior year after declining dramatically in 2020 as a result of the coronavirus (COVID-19) pandemic.
Travel and tourism contributed 5.81 trillion US dollars to the global GDP in 2021, an increase of about one trillion US dollars from 2020 but a decline from pre-pandemic levels.
Out of this figure, let’s see the contribution of web and mobile applications.
Look at the stats below, which prove the popularity of travel and tourism applications.
- In 2018, 82% of all reservations for travel were done online, without interacting with a live person, via a smartphone app or website.
- 70% of travelers use their smartphones to do travel research.
- Notifications, including trip status updates, were rated as the most helpful by 45% of users of travel apps.
- Travel apps are used at least monthly by 58% of users.
- 33% of consumers utilized a virtual travel assistant to plan and organize their next vacation.
All the above stats depict that the travel & tourism industry is touching the sky with custom web app development.
Benefits of Travelling Applications
Advantages of Using Travel & Tourism Custom Web Apps
A remarkable feature for avoiding risks while traveling is real-time tracking. This has been implemented in private transportation, particularly bus bookings. The ability for people to track the movement of buses and taxis makes the service indispensable.
Better Customer Services
To keep ahead of rivals, nearly every custom web app development company incorporates clever features in travel apps. Some of them are renting a car, planning excursions, purchasing hotel and resort packages, and more. This clever marketing strategy draws hordes of clients.
Easy & Quick Booking
Web apps are the best options for all last-minute arrangements and spontaneous travel decisions. When you make a trip arrangement, you immediately take out your smartphone, open the native travel app, and check your details—from the availability of rooms and flights to the location of ATMs—before leaving.
Digital economies have the advantage of enabling cashless transactions. To guarantee a relaxing trip experience, many mobile travel apps include this capability. With this, every payment can be made anywhere in the world with a tap. These custom web apps also enable paperless transactions, making travel simple
- E-Commerce Industry
Customers now have a distinctive and personalized online buying experience thanks to custom eCommerce development. The custom e-commerce application means creating an e-commerce app from the ground up that is suited to the demands and specifications unique to the business.
Businesses can build apps that reflect their brands and values and provide customers with a seamless and user-friendly buying experience using custom eCommerce development.
Customized solutions help businesses to stand out from the competition and build a robust online presence. In the very competitive internet industry, this can boost brand recognition, increase customer engagement, and significantly increase ROI.
Additionally, custom eCommerce web and app development streamlines the procedure so businesses can have all the necessary features to run successfully and operate smoothly with no problems.
Growth of E-Commerce Industry with Custom Web Application Development
Covid-19 gave e-commerce web applications a great push. In 2020, online grocery sales increased by 54.0% to $95.82 billion. This increased its market share to 7.4% of all supermarket sales and 12.0% of all US e-commerce sales.
In 2022, eBay.com had around 590 million monthly visitors, second behind Amazon.com, with roughly 3.2 billion monthly visitors. Check out the other most visited e-commerce web applications with monthly traffic.
Custom Ecommerce Web Applications with Monthly Traffic
Benefits of E-Commerce Web Applications
Advantages of developing a customized web application for your online store
You have full control over the functionality with custom development. This is so because there is no platform on which custom development is built. The features and capabilities you desire on your website are entirely up to you and built from scratch.
Custom apps allow your company to expand along with them, saving you from upgrading to a more expensive program or dealing with additional license costs. You can add anything you need in the custom eCommerce solutions now or in the future without affecting the app.
Better Customer Relationship
|Data about each consumer will be gathered by integrating an eCommerce app with top-notch customer relationship management software. Offering appropriate goods and services is possible in this way. Moreover, the sales conversion will benefit us as a result.
Multiple Vendor Shipping
|Multiple vendors shipping is another compelling argument for employing a custom eCommerce web app. You can have different vendors by going with a bespoke eCommerce web app. The more vendors you work with, the more likely you will need to employ various carriers and have unique shipping requirements.
Time can be saved by developing a custom eCommerce platform. You can choose to have a website created especially for your company or you can utilize a design you like and modify it slightly to suit your needs. You may save time, increase productivity, and boost the appeal of your website with the help of custom web application development companies.
Find a one-Stop Solution for Custom Web Application Development
According to Statista, around 59% of people worldwide use the internet; thus, developing a robust online presence for your company is essential. As a business owner, if you want to address your requirements on a web application fully, a customized solution is always your greatest option.
However, building a custom web application is not rocket science but needs professional assistance to give your business the tools to function effectively. Hence, make sure to choose a trusted partner who can provide high-quality customized solutions aligned with your business goals.
eLuminous Technologies is a renowned custom web application development company with head offices in India, USA, Australia, and UAE. Together with a group of skilled developers, designers, and project managers, we work directly with customers to develop specialized web applications that cater to their needs and objectives. Talk to our experts!
Author Bio: Avdhoot Vadghule is a fervent writer who aims to create valuable content that offers detailed insights to readers. He believes in utilizing various elements that make the content original, readable, and comprehensible. You can witness him indulging in sports, photography or enjoying a long drive on the city’s outskirts when not writing.