India's Three-Party Payment Licence: the fastest growing trending business in India by 2022

India has long been known for its thriving manufacturing and tech industries, which have played a major role in many businesses having to close in recent years. Many others have found ways to attract homebound audiences and expand their business during the healthcare crisis. As a result, there is a lot of talk about various industries taking over the market in the coming year. As the new normal is established, one needs to keep a close eye on the changing dynamics of the industrial world.

Here are some of the leading trending industries in India in 2022:

Top trending companies in India

Education Technology (Edtech)

The emergence of the new coronavirus has provided a once-in-a-lifetime opportunity for the education technology (EdTech) sector in India. The regular face-to-face connection between teachers and students suffered a major setback and the shift to non-traditional online learning methods happened almost overnight. This shift has pushed the EdTech industry to the forefront and it has received the necessary financial and legislative support for growth in FY 2021-2022.The soaring growth of the EdTech industry is reflected in the massive inflow of funds, acquisitions and formation of new startups in the previous financial year.

Electronic commerce (Ecommerce)

E-commerce growth in India slowed down in 2020 despite the new crown outbreak. However, forecasts for this year as well as 2022 suggest strong growth and levelling off through 2025. E-commerce revenues will grow at a compound annual growth rate (CAGR) of slightly more than 18% per year between 2021 and 2025 to reach $120.1 trillion (or Rs 8.8 trillion), according to research by GlobalData, a London-based data analytics firm. The e-commerce channel is currently on a rapid upward trend based on credit card payment rates and GlobalData's e-commerce statistics.

Financial Technology (Fintech)

While it's not new, the evolution of the tech industry has led to the emergence of new types of careers and services. For example, according to Statista, financial apps emerged as one of the most prominent areas of entrepreneurship last year. With the proliferation of mobile devices, a large portion of the population has come to rely on digitisation for everyday tasks. While some people previously resisted adopting advanced digital lifestyles, in 2022, many will have to learn how and where to pay bills and manage finances using mobile apps rather than computers. As a result, hundreds of new apps are being added to app shops every day, including collection and payment apps.

Digital & Social Media Marketing

Many organisations are exploring ways to remain attractive in the electronic age, especially with the widespread availability of smartphones. As a result, there has been a dramatic increase in the number of young people pursuing branding jobs and becoming marketing experts. In addition, as having a presence on social media has become a necessity, this huge emerging sector will continue to create wealth for established companies turning to young advertisers to stay ahead of the market.

online game

Gaming has become a very popular and successful industry in India due to technological advancements in internet access, mobile phone usage and video game consoles. With gamers focusing on live streaming on YouTube and Stutter, more and more gaming companies are opening and producing better and higher quality games. Similarly, the internet gambling industry continues to expand in this area, with justgamblers.com alone noting that 15 new sites have been launched in the past year.

Artificial Intelligence and Automation

Today, more homes have access to AI software such as Amazon's Alexa and Google Centre that rely on voice activation to perform different functions. This has opened the door for India and facilitated the establishment of local businesses that specialise in developing this technology and integrating it to simplify use or even repair knowledge. Restaurants and other companies are also adopting automation, from menu ordering to replacing employees with trained robots. As this industry grows, economists predict more jobs in programming, maintenance and other related fields.

Pharmaceuticals and Digital Health

The epidemic also wreaked havoc on the healthcare sector. Patients who regularly visited their doctors were suddenly unable to do so and had to rely on video calls with their health-care providers. At the same time, access to medicines became difficult and the healthcare system was overburdened as many pharmacies closed and had fewer staff. This has triggered a technological change in the healthcare industry globally, especially in India, which has a large population. This has opened the door for new businesses to enter the market, such as those that help hospitals efficiently store and process patient information, transfer files and schedule meetings, among other services.Nidhi Jain, president of KareXpert, pointed out in a discussion on financialexpress.com that these healthcare tech firms will continue to grow into a trillion-dollar industry.

To know more about the trending industry, visit PayU India.