IMARC Group, a leading market research company, has recently releases report titled “India Fintech Market Report by Deployment Mode (On-Premises, Cloud-Based), Technology (Application Programming Interface, Artificial Intelligence, Blockchain, Robotic Process Automation, Data Analytics, and Others), Application (Payment and Fund Transfer, Loans, Insurance and Personal Finance, Wealth Management, and Others), End User (Banking, Insurance, Securities, and Others), and Region 2024-2032”. The India fintech market size is projected to exhibit a growth rate (CAGR) of 18.27% during 2024-2032.

A substantially growing economy, high utilization of smartphones, as well as investments in digital infrastructure, are the factors responsible for the growth of the India fintech market. Additionally, the market is propelling due to the rising adoption of smartphones and widespread internet access that has democratized financial services, availing a broad segment of the population. This digital revolution is facilitated by supportive policies by government authorities, such as the Digital India initiative, which encourages digital payments and the formalization of the financial sector. Moreover, the adoption of innovative technologies like blockchain, artificial intelligence, and machine learning in fintech solutions is enhancing the security and efficiency of transactions, fostering trust and wider acceptance among consumers, and contributing to the expansion of the market.

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India Fintech Market Trends and Drivers:

Another significant driver of the India fintech market is the regulatory environment that promotes innovation through sandbox approaches, allowing startups to test their products in controlled environments. This regulatory support has led to a surge in the number of fintech startups and has encouraged venture capital and private equity investments in the sector, thereby escalating the market.

Furthermore, the push by the government authorities of India for financial inclusion through schemes like the Jan Dhan Yojana has expanded the customer base for fintech services, making financial products more tailored and accessible, which is acting as another growth-inducing factor. The rise of neo-banking platforms, offering user-friendly interfaces and customer-centric solutions, is also reshaping the financial landscape, which is anticipated to drive the India fintech market over the forecasted period.

India Fintech Market Segmentation:

Deployment Mode Insights:

• On-Premises
• Cloud-Based

Technology Insights:

• Application Programming Interface
• Artificial Intelligence
• Blockchain
• Robotic Process Automation
• Data Analytics
• Others

Application Insights:

• Payment and Fund Transfer
• Loans
• Insurance and Personal Finance
• Wealth Management
• Others

End User Insights:

• Banking
• Insurance
• Securities
• Others

Regional Insights:

• North India
• South India
• West and Central India
• East India

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Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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