インドのフィンテック市場の評価：展開モード・技術・用途・エンドユーザー・地域別の機会および予測 (2018-2032年)

インドのフィンテックの市場規模は、2024年の641億8,000万米ドルから、予測期間中は16.85%のCAGRで推移し、2032年には2,230億6,000万米ドルの規模に成長すると予測されています。

同市場は、技術の統合によって提供されるさまざまな金融サービスによって急成長しています。インドのフィンテック市場は、スマートフォンの普及率の上昇、デジタル決済の拡大、デジタル金融包摂を推進する政府の取り組みなどの要因によって、近年著しい成長を遂げています。インドのフィンテック市場の主な促進要因の1つは、キャッシュレス経済への政府の後押しです。UPI (Unified Payments Interface) の導入やDigital Indiaキャンペーンなどの導入がデジタル決済の普及を後押しし、フィンテック企業はより多くの人々にサービスを提供しやすくなっています。

市場は多様性に富んでおり、各社は決済や融資のソリューション、デジタルウォレット、保険、資産管理など、幅広い金融商品やサービスを提供しています。今日では、多くの企業がデジタル専業で事業を展開し、技術を活用して業務を効率化し、顧客により迅速で効率的なサービスを提供しています。金融機関と各国の規制当局との協力関係が増加する中、保険会社や銀行は、時代遅れのOSではなく、最先端技術を日常業務に急速に採用しつつあり、フィンテック市場の事業機会につながっています。

インドにおけるスマートフォン普及率の上昇が市場成長を牽引：

インドではスマートフォンの普及が進んでおり、フィンテック市場の成長の大きな原動力となっています。インドのスマートフォンユーザーは2023年1月時点で7億人を超え、そのうち農村部の4億2,500万人が利用しています。フィンテック企業にとって、これはモバイル技術を活用した革新的な金融商品やサービスを提供する大きな機会となっています。

当レポートでは、インドのフィンテックの市場を調査し、市場の定義と概要、市場規模の推移・予測、各種区分・地域別の詳細分析、産業構造、市場成長への影響因子の分析、ケーススタディ、競合情勢、主要企業のプロファイルなどをまとめています。

目次

第1章 調査手法

第2章 プロジェクトの範囲と定義

第3章 エグゼクティブサマリー

第4章 COVID-19がインドのフィンテック市場に与える影響

第5章 顧客の声

• 顧客の人口統計
• 市場と製品/サービスのインテリジェンス
• ブランドリコールとロイヤルティ
• ブランド選択の理由
• 使用頻度
• 平均取引額
• よく使われる機能/サービス
• 消費者が経験する痛みの領域

第6章 インドのフィンテック市場の見通し

• 市場規模・予測
• 市場シェアと予測
  • 展開モード別
  • 技術別
  • 用途別
  • エンドユーザー別
  • 地域別

第7章 インドのフィンテック市場マッピング、2024年

• 展開モード別
• 技術別
• アプリケーション別
• エンドユーザー別
• 地域別

第8章 価格分析

第9章 マクロビジネス環境の範囲

• バリューチェーン分析
• 需給分析
• 輸出入分析
• ポーターのファイブフォース分析
• PESTEL分析

第10章 市場力学

• 動向・発展
• 成長推進因子
• 成長抑制因子

第11章 ケーススタディ

第12章 競合情勢

• 主要5社の市場企業のSWOT分析
• 主要5社の市場リーダーの競合マトリックス
• 主要5社の市場リーダーの市場収益分析（%、2022年）
• 合併と買収/合弁事業（該当する場合）

第13章 競合の見通し

• One97 Communications Limited
• PhonePe Private Limited
• Razorpay Software Private Limited
• Pine Labs Private Limited
• Policybazaar Insurance Brokers Private Limited
• Lendingkart Technologies Pvt. Ltd.
• One MobiKwik Systems Limited
• Dreamplug Technologies Private Limited
• ACKO Technology and Services Private Limited
• InCred Financial Services Limited

第14章 戦略的提言

第15章 当社について・免責事項

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1.India Fintech Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2.India Fintech Market Share (%), By Deployment Mode, FY2018-FY2032F
• Figure 3.India Fintech Market Share (%), By Technology, FY2018-FY2032F
• Figure 4.India Fintech Market Share (%), By Application, FY2018-FY2032F
• Figure 5.India Fintech Market Share (%), By End User, FY2018-FY2032F
• Figure 6.India Fintech Market Share (%), By Region, FY2018-FY2032F
• Figure 7.By Deployment Mode Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8.By Technology Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9.By Application Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 10.By End User Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 11.By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024

India's fintech market is expected to witness a CAGR of 16.85% during the forecast period FY2025-FY2032, growing from USD 64.18 billion in FY2024 to USD 223.06 billion in FY2032. The market is rapidly growing due to various financial services offered with the integration of technology. India's fintech market has seen significant growth in recent years, driven by factors such as an increase in smartphone penetration, growth in digital payments, and government initiatives to promote digital financial inclusion. One of the key drivers of the fintech market in India has been the government's push towards a cashless economy. Initiatives such as the introduction of the Unified Payments Interface (UPI) and the Digital India campaign have helped to increase the adoption of digital payments, making it easier for fintech companies to offer their services to a wider audience.

The market is highly diverse, with companies offering a wide range of financial products and services, including payment and lending solutions, digital wallets, insurance, and wealth management. Nowadays, many companies operate on a digital-only basis, using technology to streamline operations and offer faster and more efficient services to customers. With the increase in the number of collaborations between financial institutions and national regulatory bodies, insurance companies and banks are rapidly adopting cutting-edge technology use in day-to-day operations rather than using outdated operating systems, thus leading to the FinTech market opportunities.

Increasing Smartphone Penetration in India to Drive Market Growth

India's increasing smartphone penetration has been a significant driver of growth for the fintech market. India has over 700 million smartphone users, including 425 million in rural areas, as of January 2023. It has created a massive opportunity for fintech companies to leverage mobile technology to offer innovative financial products and services. Mobile banking, digital wallets, online lending, and investment services are some of the ways that increase smartphone penetration, driving the growth of the fintech market in India. Moreover, comprehensive growth in the distribution network of smartphone companies has made smartphone devices easily available for end-users. For example, Samsung and MI are major mobile phone brands in rural India, owing to their pan-India distribution channel, making online payments accessible to the rural population via their mobile phones. Moreover, the increase in the use of smartphones and the expansion in faster connectivity have enabled retailers and customers to receive and make payments through their smartphones leading to growth in the fintech market.

Rising Demand for Digital Payments

With the government actively promoting a cashless economy, there has been a surge in demand for digital payment solutions such as mobile wallets, payment gateways, and online payment platforms. Retail digital payments in India grew from 162 crore transactions in FY2012-13 to over 14,726 crore transactions in 2023-24. The rise in digital payments and wallets was triggered after demonetization and continues to operate the payment landscape in the country. Companies are leveraging this trend by offering innovative digital payment solutions that are faster, more convenient, and more secure than traditional payment methods. Mobile wallets have become increasingly popular in India, with companies such as Paytm, PhonePe, and Google Pay gaining millions of users in recent years. August 2023 recorded the highest-ever volume of UPI transactions at 10.58 billion. In addition to mobile wallets, there has been a significant increase in demand for online payment platforms and payment gateways as well.

Cloud Revolution in Indian Fintech

The fintech industry in India is expanding quickly, especially in the realm of cloud-based services. Companies in this sector are turning towards cloud technology to boost their security, scalability, and overall efficiency. The shift is motivated by the desire for affordable and adaptable solutions that can manage large amounts of financial data securely. Cloud computing offers additional benefits, in addition to Machine Learning (ML) and Artificial Intelligence (AI), which have transformed banking to cost reduction and improved performance of its products and services. Fintech companies can increasingly develop and launch creative solutions and respond swiftly to the growing market needs.

Future Market Scenario (2025- 2032F)

India fintech market is projected to witness continuous expansion in the coming years, propelled by the rising embrace of digital technologies, government support, and shifting consumer choices.

In the future, we can expect major progress in technologies such as artificial intelligence, blockchain, and data analytics in the fintech industry. It will result in the development of more creative and advanced fintech solutions and services.

Regulations will play a significant role in influencing the future of India's fintech market, emphasizing the importance of competition, safeguarding consumers, and ensuring data privacy.

India's FinTech sector has secured a remarkable 14% share of global funding, making it a strength to be evaluated with on the global stage.

Fintech companies in India will continue to focus on promoting financial inclusion by reaching underserved populations, offering tailored products and services, and leveraging technology to bridge the gap between traditional banking and unbanked or underbanked segments of society.

Key Players Landscape and Outlook

The research focuses on top competitors in the Indian fintech market. Due to the increased number of companies in the fintech business, the Indian fintech market is fragmented. Fintech firms sponsored by foreign investors are actively competing in the industry and challenging current market competitors in India. The market is being driven by government moves towards smartphone usage, a cashless economy, and other considerations.

Pine Labs acquired a proprietary enterprise platform from Bengaluru-based Saluto Wellness Private Limited in January 2023 to strengthen its services across employee rewards and recognition, customer loyalty programs, and channel partner programs for SMEs and large enterprises.

Lendingkart Technologies Private Limited acquired the digital lending platform Upwards Fintech Private Limited to provide finance to the underserved through robust technology. Upwards provides facilities such as automated loan underwriting and disbursement process; crunching the timeline for the process to a few hours rather than days.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Impact of COVID-19 on India Fintech Market

5.Voice of Customer

• 5.1.Customer Demographics (Gender, Age, Income, Profession, etc.)
• 5.2.Market and Product/Service Intelligence
• 5.3.Brand Recall and Loyalty
• 5.4.Reasons of Brand Choice
  • 5.4.1.Brand Name and Market Presence
  • 5.4.2.Reliability and Security
  • 5.4.3.Features and Service Available
  • 5.4.4.Application User Interface
  • 5.4.5.Integrity of Various Platforms
  • 5.4.6.Offers and Discounts
• 5.5.Usage Frequency
• 5.6.Average Transaction Value
• 5.7.Frequently Used Features/Services
• 5.8.Pain Areas Experienced by the Consumer

6.India Fintech Market Outlook, FY2018-FY2032F

• 6.1.Market Size & Forecast
  • 6.1.1.By Value
• 6.2.Market Share & Forecast
  • 6.2.1.By Deployment Mode
    • 6.2.1.1.On-Premises
    • 6.2.1.2.Cloud
  • 6.2.2.By Technology
    • 6.2.2.1.Application Programming Interface (API)
    • 6.2.2.2.Artificial Intelligence (AI)
    • 6.2.2.3.Block Chain
    • 6.2.2.4.Robotic Process Automation
    • 6.2.2.5.Data Analytics
    • 6.2.2.6.Others
  • 6.2.3.By Application
    • 6.2.3.1.Payment and Funds Transfer
    • 6.2.3.2.Loans
    • 6.2.3.3.Wealth Management
    • 6.2.3.4.Insurance and Personal Finance
    • 6.2.3.5.Others
  • 6.2.4.By End User
    • 6.2.4.1.Banking
    • 6.2.4.2.Insurance
    • 6.2.4.3.Securities
    • 6.2.4.4.Others
  • 6.2.5.By Region
    • 6.2.5.1.North
    • 6.2.5.2.South
    • 6.2.5.3.East
    • 6.2.5.4.West and Central

7.India Fintech Market Mapping, FY2024

• 7.1.By Deployment Mode
• 7.2.By Technology
• 7.3.By Application
• 7.4.By End User
• 7.5.By Region

8.Pricing Analysis

9.Macro-Business Environmental Scope

• 9.1.Value Chain Analysis
• 9.2.Demand and Supply Analysis
• 9.3.Import Export Analysis
• 9.4.Porter's Five Force Industry Analysis
  • 9.4.1. Threat of New Entrants (Emerging Players)
  • 9.4.2.Threat of Substitutes (Other Substitutes for Perfumes)
  • 9.4.3.Competitive Rivalry
  • 9.4.4.Bargaining Power of Suppliers
  • 9.4.5.Bargaining Power of Consumer
• 9.5.PESTEL Analysis
  • 9.5.1.Political Factors
  • 9.5.2.Economic Overview
  • 9.5.3.Social Implications
  • 9.5.4.Technological Advancements
  • 9.5.5.Environmental Impact
  • 9.5.6.Legal Policies & Regulatory Bodies

10.Market Dynamics

• 10.1.Trends & Developments
• 10.2.Growth Drivers
• 10.3.Growth Inhibitors

11.Case Studies

12.Competitive Landscape

• 12.1.SWOT Analysis of Key Five Market Players
• 12.2.Competition Matrix of Key Five Market Leaders
• 12.3.Market Revenue Analysis of Key Five Market Leaders (in %, 2022)
• 12.4.Mergers & Acquisitions/ Joint Ventures (If Applicable)

13.Competition Outlook

• 13.1.One97 Communications Limited
  • 13.1.1.Company Details
  • 13.1.2.Products & Services
  • 13.1.3.Financials (As reported)
  • 13.1.4.Key Market Focus & Geographical Presence
  • 13.1.5.Recent Developments
  • 13.1.6.Key Management Personnel
• 13.2.PhonePe Private Limited
• 13.3.Razorpay Software Private Limited
• 13.4.Pine Labs Private Limited
• 13.5.Policybazaar Insurance Brokers Private Limited
• 13.6.Lendingkart Technologies Pvt. Ltd.
• 13.7.One MobiKwik Systems Limited
• 13.8.Dreamplug Technologies Private Limited
• 13.9.ACKO Technology and Services Private Limited
• 13.10.InCred Financial Services Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed during the course of work

14.Strategic Recommendations

15.About Us & Disclaimer