According to a recent PwC report, India is one of the fastest-growing economies in the world, but there exists a significant gap in accessing formal credit, especially when compared to other developed nations. Banks and financial institutions are helping fill this gap by introducing new payment products and instruments that make it easier for users to access formal credit. Recently, these institutions have shifted their focus towards instruments like credit cards. Credit card issuance has grown in the country by 20% annually over the last four years. The number of credit cardholders increased from 29 million in March 2017 to 62 million in March 2021. New FinTech players are also disrupting the market by introducing new and innovative products and offerings to consumers. slice is one such new fintech player focusing on India’s youth.
>>>The Indian tech market has seen a spate of unicorns recently. Gurugram, Haryana-based Pristyn Care is a healthcare-focused startup that recently joined the Unicorn club. The company focuses on providing improved healthcare services in Indian cities.
>>>The global online recruitment market is expected to grow at 7% CAGR from $29.3 billion in 2021 to $47.3 billion by 2028. Santa Monica-based ZipRecruiter (NYSE:ZIP) went public earlier this year, and continues to deal with the uncertainties of the pandemic world.
>>>The US-based IT consulting market is estimated to grow 2% to reach $525 billion in 2021. Despite the tumultuous market conditions, ThoughtWorks (Nasdaq: TWKS) recently had a stellar IPO performance. The IT consulting firm has been expanding its market presence through acquisitions and partnerships.
>>>The global identity and access management market is projected to grow at 15% CAGR from $12.15 billion in 2019 to $31.9 billion by the year 2026. San Francisco-based ForgeRock (NYSE: FORG), a key player in the industry, recently went public and its stock seems to be having a strong run.
>>>The Customer Engagement Solutions market was estimated to grow at 10% CAGR from $12.56 billion in 2021 to $21.95 billion driven by the increasing adoption of AI and machine learning, rapid deployment of IoT and connected infrastructure solutions. New York-based Braze (NASDAQ: BRZE), a leading player in this market, went public last month.
>>>The global Artificial Intelligence (AI) market is expected to grow at 40% CAGR from $62.35 billion in 2020 through to 2028. Tom Siebel’s C3.ai (NYSE: AI) Is making big inroads in this market through partnerships and product innovation.
>>>According to a recent report by Verified Market Research, the global enterprise collaboration market size is projected to grow at 9% CAGR from $29.45 billion in 2020 to $53.3 billion by 2028. Smartsheet (Nasdaq: SMAR) recently announced its third-quarter results that continued to outpace market expectations.
>>>Recently eSignature player DocuSign (Nasdaq: DOCU) announced its third-quarter results that surpassed market expectations. But its outlook for the fourth quarter was disappointing, which sent its stock down by more than 40%.
>>>The global cloud database and Database as a Service market is forecast to grow at 15% CAGR from $12.54 billion in 2020 to 2028. MongoDB (Nasdaq: MDB), a leading player in the market, recently reported its third-quarter results that continued to surpass market expectations.
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