Super Apps in South East Asia: An Enriching Platform for Entrepreneurs

Fulfilling needs have become much easier for people in today's time. They instantly open applications on their devices and satisfy their purposes by performing some taps on their mobile phones. Later, the requirement for these apps went on rising among the people.

Hence they started utilizing them in a significant manner, such that its revenue is expected to hit a revenue of $613 billion by 2025. But, there were many innovative solutions by individual enterprises that were launched for people, and they could not install every app on their devices due to the limited amount of storage available on their mobiles.

Later, the on-demand app came into the market and earned significant fame among the people very soon. It is because they provided people with a marketplace of particular services available across the entire town registered into these solutions, so they don't have to download various applications for the same purpose on their devices. Alongside, the entrepreneurs are also eased with managing their businesses as they can perform any operations through their mobile phones. 

Apart from this, entrepreneurs possessing any business category can register themselves on these platforms as they are introduced to almost every market segment. There are on-demand platforms available in the market, whether it is banking, restaurant, grocery, retail, transport, taxi, or any other sector. Later, a revolutionary upgraded solution of 'Multiservices' or 'Super Apps' came into the market, and every detail about them is discussed in detail. Let's go through it.

What are Super Apps? 

They are on-demand apps, which are modified to some extent by integrating the various market business sectors under a single hood, and are known as 'Super Apps.' The people receive access to a range of services under a single application, as they can select any service from different services provided to them.

Within a shorter time, these apps gained immense popularity among people as they started preferring to use these solutions to meet their specific requirements, and they are satisfied significantly through them. The demand for these platforms rose in the regions where they are not popular enough. According to Insider Intelligence, there are 173 million people in the US who prefer the use of these applications for daily purposes.

Also, in Russia, due to the rising importance of Super Apps worldwide, the multi-services market value is assumed to reach the figure of $134 billion by 2025, which is 163% of the value of 2020.

Source: Statista

The above image indicates the rise of super apps in Russia till 2025 by comparing it with the year of the pandemic. Moreover, these solutions were first brought to the Asian region, and their usage gradually spread towards the southeast and became a red spot in a shorter span as many multiservice platforms were launched. Now to know each of them, consider the next section.

Renowned Names Of Super Apps of SouthEast Asia:

If we consider SouthEast Asia, currently, there are two giants ruling the multiservice market. To know both of them in detail, they are mentioned below:

Gojek

It is an Indonesian company founded in Jakarta by Nadiem Makarim, Kevin Aluwi, and Michaelangelo Moran in 2010. Initially, Gojek was providing the 2 services of ride-sharing and courier delivery services to their customers with a troop of 20 'Ojeks' (Drivers). Later, they started offering multiple services to their consumers and are currently operating their business in over 8 countries. One of the reasons behind such success is its highly optimized business model, which contains attractive value propositions and customer segments that help to beat their rivals.

Grab

The company is serving multiple services to the people of almost entire South East Asia. However, Grab was founded in 2012 by Anthony Tan and Tan Hooi Ling. Formerly, it was offering ride-sharing services with the name of 'MTeksi' headquartered in Kuala Lumpur and later shifted to 'Singapore' and started offering various services to people within a few time. Currently, they cater 20 different services to the people and operate their business in 8 countries and 400+ metropolitan areas.

These are giants in the multiservice industry of SouthEast Asia. Despite having a huge competition in the market, Gojek and Grab are still the topmost names in the multi-services industry. Now, which benefits can entrepreneurs receive through these platforms are mentioned next.

Scopes for Local Entrepreneurs through Super Apps:

According to the perspective of Entrepreneurs, there are many benefits of enrolling the business in the multiservice platforms, as they can get several advantages due to the higher preference of people for using these applications. Let's go through each of them stated below:

Fetch Higher User Base

The venture can gather a massive user base as the people would like to visit the platform due to the accessibility to a wide range of services through a solution. Not only because of access to various services but also the design plays a major role in retaining the customers to the application and getting higher conversions. In short, as an entrepreneur, if you want a significant amount of users to visit your business, the super apps can probably help you effectively.

Improves Business Manageability

Entrepreneurs can operate their business efficiently at their fingertips by utilizing these platforms. It's because they can access the various components of their venture, including managing users, employees' earnings, stock, analyzing workers' activity, and many other components essential for running an enterprise smoothly. 

Increases Business Reach

It would help increase the venture's reach through different options provided to the entrepreneurs, including referrals, ads posted through various social media platforms, and many other ways offered to them. All the methods mentioned probably help the business turn into a renowned brand and stretch the reachability to more targeted audiences.

Makes Enterprise More Scalable

The business can handle any amount of users registering into the platform, as the entrepreneurs are provided a solution with robust build quality. Besides that, they can also customize the specifications according to the needs of their enterprises. All these factors collectively help the venture to become more scalable than ever before.

Conclusion:

From the above discussion, you might have got an idea about Super Apps, its certain advantages to your enterprise, and also must have thought about registering your business into these platforms to raise the profit margins rapidly. If yes, then it would be the best choice for your venture to gain greater conversions and reduce the daily hassles of your business.