The tech companies and trends to watch in 2022

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After a year dominated by crypto, NFTs and the metaverse, what can we expect from tech in 2022?

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ech companies have flourished during the pandemic. As billions of people move their lives more online, myriad opportunities open up for startups.

Grocery delivery apps have increasingly grown from nothing to a billion-dollar industry, cybersecurity has boomed, and fintech growth has boomed. Tech companies have helped remote and hybrid working function, encouraged youth to invest in stocks, and helped bring crypto into the mainstream. Oh, and Mark Zuckerberg got everyone talking about the Metaverse.

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Entrepreneurs have taken advantage of these opportunities due to the huge inflow of capital. Investment in European technology alone exceeded $100 billion in 2021. UK companies raised a total of £26 billion this year, up from £11.5 billion in 2020.

Henry Lane Fox, CEO of Founders Factory and founder of LastMinute.com, said: “We are finishing 2021 better than how we started, despite the current challenges of the pandemic.”

What will happen in 2022 after one year of development? Here’s what top VCs, analysts, economists and business experts are expecting:

Crypto and Web3 will be the “defining component” of 2022

Twitter founder Jack Dorsey questions Web3’s logic

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Twitter founder Jack Dorsey questions Web3’s logic

, Reuters

Web3 may seem like a gobbledygook to many. But the idea is already so embedded in the tech ecosystem that Twitter founder Jack Dorsey caused minor uproar by questioning the concept, adding that it was excited to venture capital investors.

What is web3? Think internet but add blockchain. Web3 will allow users to control and own assets, such as data, by registering them on the blockchain.

It aims to renegotiate the balance of power away from tech giants such as Facebook and YouTube, and to “decentralize” the world wide web. Ownership and control will be exercised by the cryptocurrency, so the theory goes.

(Web 1 and 2, in case you were wondering, refer to the early stages of the Internet, where sites like Yahoo were dominated, followed by the rise of platform businesses like Facebook and Twitter.)

Jambu Palanappian, managing partner at Canadian VC giant Omars Ventures, said: “We believe the intersection of these two disciplines will be a defining component of next year, as we see clients become more widely adopted and how regulators change the category. chose to approach.

“We are seeing crypto potentially becoming a niche part of finance and financial services to become a mainstream asset class, legitimized by both investors and regulators. The idea of ​​a decentralized financial system… is becoming much more compelling. Is.”

Climate Tech Firms Will Be “Super Hot”

Teen climate activist Greta Thunberg at COP26 summit

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Teen climate activist Greta Thunberg at COP26 summit

, the countryside

COP26 inspired everyone to talk and invest in climate technology and “clean” technology – technologies that provide eco-friendly solutions to everyday tasks or help remove carbon from the atmosphere.

“Anything to Do with Climate” [tech] The next 24 months are going to be super hot,” said Martin Davis, chief executive officer of Molten Ventures (formerly Draper Esprit), a London-listed venture capital firm, recently.

David Grimm, Director of Investments at the UCL Technology Fund, said: “We’re going to see startups developing clean transportation go from strength to strength.”

He predicts that hydrogen will “finally begin to fulfill its potential” in clean transport.

NFTs (Fungible Tokens) Will Enter the Gaming World

NFTs – unique digital images secured on the blockchain – were the biggest trend in consumer technology this year, a huge industry growing from almost nothing to attention from the likes of Adidas and Damien Hirst. Collectors, investors and speculators have poured $27 billion into the market this year, according to purchase tracker Chainalysis.

“NFTs are set to move from NFT 1.0 to NFT 2.0 in 2022,” says Jay Wilson, investment director at London-based venture capital firm AlbionVC.

“As NFT becomes a cultural phenomenon such as [Facebook/Instagram’s] Like and share in the decade before them, we are ready for a new era of NFT 2.0 with more depth and creativity.”

He and his colleagues expect to see more adoption of NFTs in the gaming sector, “wider spread” in music, fashion and video, and new applications such as lending.

Adelfa founder Eddie Pinkster hopes to see NFTs branded within games like Minecraft.

Buy-now, pay-later continues to explode

Klarna founder Sebastian Simiatkowski

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Klarna founder Sebastian Simiatkowski

, Klarna. Dave Bennett / Getty Images for

Buy now, pay later – the online challenger to credit cards – has exploded in the UK during the pandemic, with more than 5 million people using it to shop for over £2 billion in the UK alone, according to FCA research Is.

Sweden’s Klarna has led but everyone wants a piece: Monzo launched its own BNPL product earlier this year and Barclays recently launched its own version with Amazon.

Ian McLennan, partner at investment manager Triple Point Ventures, expects the momentum to continue next year.

“Neobanks can accelerate the adoption of BNPL and other new financial products as they drive to profitability in the coming years,” he added.

The increased growth of “Buy Now, Pay Later” products (BNPL) is inevitable as fintechs strive to engage younger customers.

Elsewhere in fintech, GlobalData is predicting a boom in so-called super apps like China’s WeChat or Revolut, which offer multiple services in one place. GlobalData’s Amrit Dhami said the value of mobile wallet transactions in the US alone will exceed $266 billion next year.

Health tech “one of the hottest areas”

If the pandemic has highlighted one thing, it is how vulnerable our healthcare system is to disease or disease progression. According to many investors, the solution is investment in new health care technologies.

Investment in digital health solutions has increased in 2021 due to the increasing focus on wellness and the shift to virtual doctor appointments during the pandemic.

Kievan Vakili, associate professor of strategy and entrepreneurship at the London Business School, said health technology, including technology aimed at improving mental health, will be “one of the hottest areas” next year.

“The pandemic has brought into perspective several shortcomings in existing health care provision around the world and entrepreneurs have been quick to target these gaps with various creative ideas,” Vakili said. “Governments and healthcare providers have also become more receptive to these innovative health care solutions given the increasing pressure on them.”

Expect continued interest in Femtech: technology aimed at helping women through decades of postpartum, menopause, and menstrual cycles, during which women’s health research fell at the bottom of the priority pile. Frost & Sullivan predicts that the sector will grow to $50 billion by 2025.

The ‘bonfire’ of rapid grocery apps

Rapid Delivery Startup Zapp

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Rapid Delivery Startup Zapp

, zap – press image

Venture capital investors poured large sums of money into startups in the grocery delivery space in a booming 2021. Apps like Getir, Gorilla, Zap and Gopuff are competing aggressively for market share.

Many experts believe the sector will consolidate in 2022, meaning some firms will be bought out by rivals or fall by the wayside. Andrew Gwynn, an analyst at Axen BNP Paribas, said: “Consolidation is a given, it’s a question of speed … for some of these operators their primary objective is to be bought.”

Harry Briggs, managing partner at OMERS Ventures, called the situation a “bonfire.”

He added: “We’ve started to see signs of this in late 2021, with cost cuts and big valuations following the knee-jerk acquisition, and I think this downward trajectory will continue into 2022.”

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