Which industry is booming in 2022?

The most recent worldwide pandemic did not completely prevent the unusually rapid expansion of the Indian economy, but it did slow it down significantly. A great number of sectors and organizations have discovered a formula for success, and they are continuing to expand their operations by opening up additional sites, branches, or otherwise adjusting to the changing business climate. Even when things start to go back to normal, you can anticipate to see these businesses thriving even more than before. The rise of these businesses provides the government with reason to believe that the economy will make a speedy recovery, particularly given the fact that the government is actively working to foster this expansion.

The nation has long been recognized for its rapidly expanding manufacturing and technology sectors, both of which have shown to be quite useful during the last two years, when a large number of enterprises have been forced to close their doors. There are a great number of other businesses that have found out how to expand their brands and appeal to a population that is housebound as a result of a health problem.

1. Developing New Technologies

This has been going on for quite some time, but the manner in which the technology sector has developed has paved the way for new kinds of professions and new kinds of services. According to Statista, one of the most popular categories of start-ups that occurred in the previous year was the development of financial applications. Because of the proliferation of smartphones, a significant portion of the general population has started to depend on digitalization for day-to-day activities. This year has pushed many people of older generations to learn how to pay bills and meet their financial demands not only from a computer but also via smartphone applications. This is despite the fact that older generations have opposed the changeover to a lifestyle that is technologically competent. The app store adds hundreds of new applications every day, including ones that save money for a rainy day, apps that show subscriptions and make it simple to cancel them, apps that collect invoices and make it easy to pay them, and apps that do other things like that.

2. Marketing using Electronic and Social Media Platforms

Again, this is mostly due to the proliferation of smartphone technology, as a result of which many companies are finding out methods to remain desirable in the digital realm. Because of this, there has been a significant increase in the number of young people who are considering jobs in advertising and who are studying algorithms in order to become marketing specialists. There is a huge market that is emerging, and it will continue to make money as long as older companies look to younger advertisers in the hopes of remaining relevant to the economy. This market has emerged as a result of the fact that it is now absolutely essential to have a presence on social media.

3. Playing Games and Wagering on the Internet

Gaming has become an incredibly popular and lucrative sector in India as a result of recent technological advancements in areas such as internet access, the use of mobile phones, and video game consoles. As a result of the continued emphasis placed by gamers on the production of live streams on platforms like YouTube and Twitch, an increasing number of gaming businesses are entering the market and developing games of an increasingly superior quality. In a similar vein, the internet gambling sector has continued to expand, with justgamblers.com stating that 15 new casinos have started up in simply the last year alone. This highlights a similar trend.

4. Machine learning and robotics

There are now more homeowners than ever before that have the ability to outfit their properties with artificial intelligence technology, such as Google hubs or Amazon's Alexa, which are activated by voice commands to carry out a variety of tasks. Because of this, India has been given new opportunities and has seen an increase in the number of locally based businesses that specialize in either the production of this technology, the aggregation of it to make it simpler to use, or even the training of technicians who are knowledgeable about how to repair these technologies. The ordering of food from a menu to the replacement of human employees with highly trained robots are just two examples of the ways in which restaurants and other types of companies are using automation. Economists have a theory that the growth of this business will result in an increase in the number of occupations that revolve around programming, maintaining, or otherwise upgrading the automation.

5. The Role of Technology in the Pharmaceutical and Healthcare Industries

The healthcare business was also severely impacted by the pandemic's disruptive effects on life. Elderly folks who were used to visiting their physicians at regular intervals were suddenly unable to accomplish much and were forced to communicate with their healthcare providers via the usage of video conferencing. As a result of pharmacies being shuttered or having a reduced number of workers, it became more difficult to get medicine. At the same time, the healthcare system couldn't keep up with the number of people who needed treatment. Since of this, the healthcare business has undergone a digital revolution all over the globe, but particularly in India, because the country has such a vast population and digitization has become an absolute must there. Because of this, there is room in the market for new firms that assist healthcare facilities in safely storing and processing patient information, transferring papers, scheduling appointments and other services, and more. According to statements made by Nidhi Jain, founder of KareXpert, in an interview with financialexpress.com, these digital healthcare enterprises would continue to grow into an industry worth one billion rupees.