インドの証券仲介市場の評価：サービス・タイプ・モード・取引タイプ・エンドユーザー・地域別の機会および予測 (2018-2032年)

インドの証券仲介の市場規模は、2024年の31億5,000万米ドルから、予測期間中は7.24%のCAGRで推移し、2032年には55億1,000万米ドルの規模に成長すると予測されています。

信頼性が高く、迅速かつ効率的な注文執行に対する需要の高まり、有利な政府規制の台頭、Demat口座の需要の増加、市場監督の必要性といった要因が、インドの証券仲介市場の成長を後押ししています。また、金融サービスにおけるAIとアルゴリズムの出現も、予測期間中の市場成長に有益な機会を提供すると予想されています。

インドの証券仲介市場は、投資家に代わって株式やその他の有価証券の売買を促進することに焦点を当てた金融産業分野です。同市場には、富裕層、個人投資家、個人投資家など、さまざまな関係者が存在します。証券仲介業者は、株式の買い手と売り手の仲介役を務め、顧客に代わって注文を執行し、証券取引所やその他の取引プラットフォームへのアクセスを提供します。The Securities and Exchange Board of India (SEBI) が定める規制では、認定要件、コンプライアンス基準、投資家保護戦略など、証券会社の業務を規制しています。証券仲介業者市場は、個人や機関投資家の資本形成、価格発見、投資機会を促進することで、金融市場の機能において重要な役割を果たしています。

Demat口座と仲介業務の増加が成長を牽引：

National Security Deposit Limited (NSDL) は、仲介業者のウェブサイトを通じたオンライン証券売買のため、インドで運営されているすべての電子Demat口座を定期的に標準化しています。2024年3月のDemat口座総数は1,514万カロールインドルピーに増加しました。また、Motilal Oswal Financial Servicesによると、前月の新規口座開設数は310万カロールインドルピーに急増しました。これらの動向は、個人投資家による株式購入の増加や、証券仲介市場における有価証券の発行と売却の増加を示しています。 主要な預託機関であるCDSLとNSDLは前年同月比11.9％増となり、総計は1億1,450万カロールインドルピーから1億5,140万カロールインドルピーとなっています。

当レポートでは、インドの証券仲介の市場を調査し、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 顧客の声

• 人口統計
• 市場認知度と製品情報
• ブランド認知度とロイヤルティ
• 購入決定時に考慮される要素
• 投資の根拠
• アプリケーションの使用頻度
• 使用媒体
• 顧客サポート

第5章 インドの証券仲介市場の展望

• 市場規模・予測
• サービス別
  • 注文執行
  • アドバイス
  • その他
• タイプ別
  • フルサービス仲介業者
  • ディスカウント仲介業者
  • ロボアドバイザー
  • 仲介業者・ディーラー
• モード別
  • オフライン
  • オンライン
• 取引タイプ別
  • 短期取引
  • 長期取引
• エンドユーザー別
  • HNI (富裕層)
  • 個人投資家
  • 機関投資家
• 地域別
  • 北部
  • 南部
  • 東部
  • 西部・中央部
• 市場シェア：企業別、2024年

第6章 市場マッピング、2024年

• サービス別
• タイプ別
• モード別
• 取引タイプ別
• エンドユーザー別
• 地域別

第7章 マクロ環境と産業構造

• 供給需要分析
• 規制の枠組みとコンプライアンス
• バリューチェーン分析
• PESTEL分析
• ポーターのファイブフォース分析

第8章 市場力学

• 成長促進因子
• 成長阻害因子 (課題・制約)

第9章 主要企業の情勢

• 市場リーダー上位5社の競合マトリックス
• 市場リーダー上位5社の市場収益分析
• M&A・ジョイントベンチャー (該当する場合)
• SWOT分析 (参入5社)
• 特許分析 (該当する場合)

第10章 口座開設と年会費の分析

第11章 ケーススタディ

第12章 主要企業の展望

• Angel Broking Limited
• Nextbillion Technology Private Limited
• ICICI Securities Ltd.
• RKSV Securities India Private Limited
• Motilal Oswal Financial Services Ltd.
• Zerodha Broking Ltd.
• Sharekhan Limited
• IndiaInfoline Finance Limited
• Paise Capital Ltd.
• SBICAP Securities Ltd.

第13章 戦略的提言

第14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 Security Brokerage Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2.India Security Brokerage Market Share (%), By Service, FY2018-FY2032F
• Figure 3.India Security Brokerage Market Share (%), By Type, FY2018-FY2032F
• Figure 4.India Security Brokerage Market Share (%), By Mode, FY2018-FY2032F
• Figure 5.India Security Brokerage Market Share (%), By Trading Type, FY2018-FY2032F
• Figure 6.India Security Brokerage Market Share (%), By End-users, FY2018-FY2032F
• Figure 7.India Security Brokerage Market Share (%), By Region, FY2018-FY2032F
• Figure 8.By Service Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9.By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 10.By Mode Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 11.By Trading Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 12.By End-users Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 13.By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024

India Security brokerage market is projected to witness a CAGR of 7.24% during the forecast period FY2025-FY2032, growing from USD 3.15 billion in FY2024 to USD 5.51 billion in FY2032. Factors such as the rise in demand for trustworthy, fast, and efficient order execution, the rise of favorable government regulations, increasing demand for demat accounts, and the need for market supervision primarily drive the growth of India security brokerage market. On the contrary, the emergence of AI and algorithms in financial services is expected to provide profitable opportunities for market growth during the forecast period.

India security brokerage market is a financial industry segment focused on facilitating the buying and selling of stocks and other securities on behalf of investors. The market involves various participants such as high net-worth individuals, retail, and individual investors. Securities Brokerages act as intermediaries between the buyers and sellers of stocks. They execute orders on behalf of clients, providing access to stock exchanges and other trading platforms. Regulations set by the Securities and Exchange Board of India (SEBI) regulate the operations of brokerage firms, including accreditation requirements, compliance standards, and investor protection strategies. The security brokerage market plays a crucial role in the functioning of financial markets by facilitating capital formation, price discovery, and investment opportunities for individuals and institutions alike.

Increasing Demat Account and Brokerage Business Drives Growth

National Security Deposit Limited (NSDL) regularly standardizes all the electronic Demat accounts operating in India for buying and selling securities through brokerage websites online. The total number of demat accounts increased to INR 15.14 million in March 2024. According to Motilal Oswal Financial Services, new account additions soared to INR 31 Lakhs in the previous month. These developments indicate an increase in the purchase of stocks by retail investors and an increase in the stock broking market in the issue and sale of securities. The major depositories, CDSL and NSDL experienced an 11.9 percent YoY surge, bringing the total tally to INR 15.14 crore from INR 11.45 crore.

Investments in Real Time Promotes Growth

Utilizing an online security brokerage platform makes real-time monitoring of investments much easier. Users have access to a strong set of tools and resources made ready for use by various online trading organizations. These resources provide users with information that can be used to make their trading transactions more successful. online trading platforms could easily monitor the performance of their assets, owing to real-time stock data. Traders can keep a record of their portfolio performance and determine the necessary changes required to get a suitable outcome. Traders can generate real-time trading notifications to implement their strategy. Software trading helps to keep a record of storing and making trading records accessible. Through digital data, traders can study their previous businesses, learn from their mistakes, and find the best solutions. Thus, this factor drives the growth of India security brokerage market.

Western India to Dominate the Market While Northern is the Fastest Growing

According to region, the stock broking market is divided into four regions - North, South, East, and West and Central. Mumbai, in the west region, comprises the well-known stock markets in India - the National Stock Exchange and the Bombay Stock Exchange. It is the biggest hub for traders and accounts for 50% of volume in NSE and BSE. The north region is the fastest-growing region. Region-wise, North India is on top with a registered investor base of 31 million as of January 2024, followed by West at 28 million, South at 18 million, and East at 10 million which involved buying and selling securities, such as stocks, bonds, and derivatives, on behalf of investors.

Order Execution Segment Dominated the Market

Based on services, India's security brokerage market includes order execution, advisory, and others. The order execution segment dominated the market in FY2024. This is attributed to the fact that the popularity of online Securities Brokerages has significantly brought down the cost of buying and selling stocks. Order execution is greatly dominated by liquidity and financial market structure. It is typically faster and more successful in highly liquid marketplaces with more buyers and sellers. On the contrary, illiquid markets can cause execution to slow down or price slippage. They do market analysis and risk calculations and recommend investment decisions to their clients according to their needs.

Online Segment Dominated the Market

Based on the trading mode, the online segment dominated the market in FY2024. The dominance is due to factors such as technological advancements, investor education, user-friendly trading platforms, and the demand for fast and effective order execution. Users can get real-time data on the transactions in online trading. It enables traders to book profits in small price changes easily rather than in the traditional method. It allows individuals to trade in stocks and securities with convenience from their homes. It offers enhanced transparency and speedy execution of orders fostering a dynamic trading environment. Online trading has lowered the risk of entry barriers attracting investors from broader demographics. The trend in online trading is going to soar heights and will boost the economy of the country.

Future Market Scenario (FY2025 - FY2032)

Integrated investment enables businesses to offer customers routes to funds and stocks. It allows companies to merge stock market investing capabilities into their existing product offerings. API-based brokerage firms are trending by providing APIs to manage end-to-end flows such as opening demat accounts, trading, management, and market data.

API-based trading is converting the way clients convey with brokers and bolsters other fintech companies to build products on top of these APIs. AI algorithms and ML will help computers action the real-world data by inputs through social feeds, photos videos, text, and voice.

Key Players Landscape and Outlook

The top security brokerage firms in India are growing and adapting to the fast-paced environment by diving into advanced technology in the trading field. They are using API, AI, and ML tools to provide a user-friendly environment in trading and instant access to market data and everything for individuals and investors. With the increased use of AI, the decision-making facility has increased a plethora.

In a recent development within the discount brokerage sphere, Nextbillion Technology Private Limited's fintech startup, Groww has become India's leading brokerage platform, by the number of active investors. According to NSE, Groww bragged an impressive 6.63 million active investors at the end of September 2023. It uses Google Kubernetes Engine to manage unpredictable spikes happening at unpredictable times. The company uses Preemptible Virtual Machines which reduces hardware costs by one-third.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Voice of Customer

• 4.1.Demographics (Age/Cohort Analysis - Baby Boomers and GenX, Millennials, Gen Z; Gender; Income - Low, Mid and High; Geography; Nationality; etc.)
• 4.2.Market Awareness and Product Information
• 4.3.Brand Awareness and Loyalty
• 4.4.Factors Considered in Purchase Decision
  • 4.4.1.Broking Firm
  • 4.4.2.Type of Service
  • 4.4.3.Commission
  • 4.4.4.Account Minimum
  • 4.4.5.Account Opening Fees
  • 4.4.6.Features and Reliability
  • 4.4.7.Promotional Offers & Discounts
• 4.5.Investment Rationale
• 4.6.Frequency of Application Usage
• 4.7.Medium of Usage
• 4.8.Customer Support

5.India Security Brokerage Market Outlook, FY2018-FY2032

• 5.1.Market Size & Forecast
  • 5.1.1.By Value
• 5.2.By Service
  • 5.2.1.Order Execution
  • 5.2.2.Advisory
    • 5.2.2.1.Portfolio Management
    • 5.2.2.2.Investment Advisory
    • 5.2.2.3.Financial Planning
    • 5.2.2.4.Others
  • 5.2.3.Others
• 5.3.By Type
  • 5.3.1.Full-Service Brokers
  • 5.3.2.Discount Brokers
  • 5.3.3.Robo-Advisors
  • 5.3.4.Brokers-Dealers
• 5.4.By Mode
  • 5.4.1.Offline
  • 5.4.2.Online
• 5.5.By Trading Type
  • 5.5.1.Short-term Trading
  • 5.5.2.Long-term Trading
• 5.6.By End-users
  • 5.6.1.HNIs
  • 5.6.2.Retail Investors
  • 5.6.3.Institutional Investors
• 5.7.By Region
  • 5.7.1.North
  • 5.7.2.South
  • 5.7.3.East
  • 5.7.4.West and Central
• 5.8.By Company Market Share (%), FY2024

6.Market Mapping, FY2024

• 6.1.By Service
• 6.2.By Type
• 6.3.By Mode
• 6.4.By Trading Type
• 6.5.By End-users
• 6.6.By Region

7.Macro Environment and Industry Structure

• 7.1.Supply Demand Analysis
• 7.2.Regulatory Framework and Compliance
  • 7.2.1.Securities & Exchange Board of India (SEBI) Guidelines and Policies
  • 7.2.2.RBI Guidelines and Policies
  • 7.2.3.Monetary and Fiscal Policies
  • 7.2.4.Taxation Policies
• 7.3.Value Chain Analysis
• 7.4.PESTEL Analysis
  • 7.4.1.Political Factors
  • 7.4.2.Economic System
  • 7.4.3.Social Implications
  • 7.4.4.Technological Advancements
  • 7.4.5.Environmental Impacts
  • 7.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.5.Porter's Five Forces Analysis
  • 7.5.1.Supplier Power
  • 7.5.2.Buyer Power
  • 7.5.3.Substitution Threat
  • 7.5.4.Threat from New Entrant
  • 7.5.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Key Players Landscape

• 9.1.Competition Matrix of Top Five Market Leaders
• 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, FY2024)
• 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 9.4.SWOT Analysis (For Five Market Players)
• 9.5.Patent Analysis (If Applicable)

10.Account Opening and Annual Fee Analysis

11.Case Studies

12.Key Players Outlook

• 12.1.Angel Broking Limited
  • 12.1.1.Company Details
  • 12.1.2.Key Management Personnel
  • 12.1.3.Products & Services
  • 12.1.4.Financials (As reported)
  • 12.1.5.Key Market Focus & Geographical Presence
  • 12.1.6.Recent Developments
• 12.2.Nextbillion Technology Private Limited
• 12.3.ICICI Securities Ltd.
• 12.4.RKSV Securities India Private Limited
• 12.5.Motilal Oswal Financial Services Ltd.
• 12.6.Zerodha Broking Ltd.
• 12.7.Sharekhan Limited
• 12.8.IndiaInfoline Finance Limited
• 12.9.5Paise Capital Ltd.
• 12.10.SBICAP Securities Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.Strategic Recommendations

14.About Us & Disclaimer