India UPI Apps Industry Statistics, Market Outlook 2024, Share & Growth Analysis Report till 2030

The growing government initiatives such as Digital India and financial inclusion programs boost digital payment solutions i.e., UPI apps, coupled with ongoing adoptions of smartphones and 5G technologies across urban and rural areas of India, propels the growth in India UPI Apps Industry

Analytical Overview of India UPI Apps Industry

The India UPI Apps Market size is projected to grow at a CAGR of around 10.5% during the forecast period, i.e., 2024-30.

Money Transfer segment witnessed lucrative growth as the major application segment in the growing industry in India. The segment comprises both peer-to-peer transactions and peer-to-merchant

Among the two types, the India UPI Apps Market Peer-to-Merchant payments segment is anticipated to seize the largest market share

Increasing Integration of UPI with Financial Services & E-Commerce resulted in exponential growth of India UPI Apps Industry

Cybersecurity & fraud concerns are expected to hinder the India UPI Apps industry

Untapped Rural & Semi-Urban Regions Offering Lucrative Growth Opportunities for further expansion of Indian Market

Government Policies for Digital Payments & Financial Inclusion Driving the UPI Apps Market Growth

One of the renowned consulting, data analytics, and market research firm, Markntel Advisors published the report titled “India UPI Apps Market Research Report: By Type (Peer-to-Peer (P2P) Payments, Peer-to-Merchant (P2M) Payments), By Application (Money Transfer, Bill Payments, Point of Sale, Others), By Transaction Type (Domestic, Cross Border), By End User (BFSI, Retail & E-Commerce, IT & Telecom, Healthcare, Travel & Hospitality, Transportation & Logistics, Media & Entertainment, Others), By Region (North, East, West, and South) and Others Forecast (2024-2030)”, the concerned report comprises an in-depth analysis of the market, featuring insights into the Indonesia construction equipment rental market.

Major Market Players and Recent Updates: Strengthening the Industry Growth

Highlighting the recent update that demonstrates the further growth and market expansion:

• Google Pay in 2024 introduced UPI Circle, a feature allowing users to add family members and friends as secondary users, to make digital payments without linking their bank account.
• Google Pay in 2024 signed a MoU with the National Payments Corporation of India to expand the use of UPI to other countries. This will help Indian travelers to make payments in foreign countries using UPI.

Top UPI Apps companions in the Indian Market are as follows:

• PhonePe,
• Google Pay,
• Paytm,
• BHIM App,
• Amazon Pay,
• MobiKwik,
• CRED,
• Axis Pay,
• Imobile Pay,
• PayZapp,
• Freecharge, and others

Key Report Highlights:

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Frequently Asked Questions (FAQs)-

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What leading factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & India UPI Apps adoption?
5. How has the competition been shaping up across the country?
6. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

Contact Us:

MarkNtel Advisors

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Email: [email protected]

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