| |JANUARY 202419AI and Semiconductor Projects to Get a BoostWith the Union Budget making it through, there will be a major boost to AI and semiconductor projects. Reducing reliance on imports for semiconductors and promoting more IP-led innovation in the design of chips and electronics systems might take the hot seat this year. Additionally, the government will most probably promote the sharpening of homegrown cloud computing and AI infrastructure expertise and skills.Satellite Internet ServicesLast year, Reliance Jio was permitted to offer satellite internet services. Other companies are believed to follow suit this year.Edtech Sector May Undergo Major ConsolidationThis year, the edtech sector is anticipated to undergo a considerable consolidation, with the acquisition of unicorns probably on the main agenda. Combined with an emphasis on sustainable business models and the market's booming growth from the pandemic, there is limited space for the extravagant VC funding that was previously flourishing. Therefore, an interesting combo of offline and online models could be coming through, especially in the areas of skill development and test preparation.The Arrow of Electric Vehicle Segment's Shares Could be Pointing UpAfter Ola Electric, Ather Energy, Revolt, Pure EV, and other startups continued to increase their market share last year, the nation's traditional automakers are also joining the club amid ongoing the EV revolution. The industry will most probably pour more funds in areas like battery technology and charging infrastructure as the EV battlefield expands beyond two-wheelers.Extended Reality's First Steps In RetailExtended reality (XR) technology is already revolutionizing the retail space in the nation by giving local Kirana shops a sci-fi feel. It is anticipated that XR integration would create the "phygital" retail segment by bridging the gap between online convenience and offline experience.Quick Commerce - It's Either More Competition or More AcquisitionLast year, quick commerce was the star of the show, but several new businesses have been observed abandoning the dark store model in favor of a retail-first strategy with delivery as an add-on. To capitalize on this trend, companies like FirstClub, The New Shop, and others are expanding their market footprint and raising funds. Also, it may not be news if some of these companies either end up competing or being acquired by giants.Fintech Could be Preparing for a World Without UPIThe nation's payment apps might be preparing for a world without UPI. Fintech companies are observed to have sought to diversify by providing credit, wealth management, payment aggregator, and foreign remittance services, even if UPI remains the foundation of digital payments. With an eye toward the NRI market and the Indian diaspora, which has become accustomed to UPI, startups are only going to investigate more into cross-border payment methods. This, in turn, will highlight the need for data portability across hybrid environments
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