Some of the key benefits of using Ruby on Rails for web development include:

Time Efficiency: Rails includes many ready-made plugins and modules, which allow developers to build applications faster.

Consistency: Rails encourages developers to follow standardized file storage and programming conventions, keeping a project structured and readable.

Cost-effective: Being an open-source framework, Ruby on Rails is free to use. It runs on Linux, which is also open-source.

Quality: The Ruby language encourages the development of high-quality code. It's readable, relatively easy to write, and its self-documenting nature makes it a good choice for long-term projects.

Testing: Rails has strong support for testing, with test cases ready to be defined. It leads to fewer bugs and more stable apps.

Ruby on Rails can be used to build a variety of web applications, including:

E-commerce Platforms: Rails is often used to build online marketplaces due to its scalability and security features.

Social Networking Sites: The speed and ease of Rails development make it ideal for creating social networking platforms.

Content Management Systems: Rails can be used to develop robust and flexible CMS for various needs.

Streaming Sites: Rails can handle live streaming and video content, making it suitable for building video streaming sites.

Here are some factors to consider when choosing a Ruby on Rails development company:

Portfolio: Review the company's previous work to assess its capability and expertise in Ruby on Rails.

Experience: Check the company's experience in Ruby on Rails development. A more experienced company is likely to deliver better results.

Client Reviews: Client testimonials and reviews can give you an insight into the company's reliability and quality of work.

Technical Expertise: Make sure the company has a team of expert Ruby on Rails developers.

Cost: While cost should not be the only deciding factor, ensuring their pricing aligns with your budget is important.

The cost of Ruby on Rails development services can vary widely based on several factors, including the project's complexity, the number of features, the developers' experience level, and the development team's geographic location. It isn't easy to provide a specific cost without detailed project information.