India Mobile Payment Market Share, Size, Growth, Opportunity and Forecast 2020-2025

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

India Mobile Payment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The India mobile payment market is currently witnessing robust growth. Mobile payment refers to the process of transferring funds in exchange for products or services using a tablet or smartphone and payment instruments, such as a bank account, debit or credit card, gift cards and mobile wallet. As it is secure, convenient and easy-to-use, it is gaining traction over other forms of payments in India.

The rising sales of smartphones, in confluence with the increasing penetration of the internet, represents one of the key factors bolstering the growth of the mobile payment market in India. Moreover, loyalty and incentive programs associated with mobile payment solutions are contributing to the market growth. Apart from this, several companies are collaborating with financial institutions to provide innovative features. For instance, Google is supporting Unified Payment Interface (UPI) services from several Indian banks under its Google Pay app. Furthermore, the thriving e-commerce sector and the increasing utilization of contactless methods for making payments due to the mass outbreak of the coronavirus disease (COVID-19) are anticipated to influence the market growth in the coming years. On account of these factors, the market is expected to continue its robust growth during the forecast period (2020-2025).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the india mobile payment market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, mode of transaction and application.

Breakup by Mode of Transaction:

WAP
NFC
SMS
USSD
Others

Breakup by Application:

Entertainment
Energy and Utilities
Healthcare
Retail
Hospitality and Transportation
Others

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Questions Answered in This Report:

How has the India mobile payment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the India mobile payment market?
What are the key regional markets?
What is the breakup of the market based on the mode of transaction?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the India mobile payment market and who are the key players?
What is the degree of competition in the industry?