Overview Of Indian Neo Banking Industry and Market Size
Indian Neo Banking Industry was valued at ~XX INR Crore in FY’21, expanding at a CAGR of XX% in between FY’17 and FY’21 on the basis of revenue generated with massive expansion in the adoption of Neo Banking as the mode of payment due to rising industry valuation, trend of contactless payments and the emergence of Neo Banking startups in the industry.
The primary factors driving the market growth is the emergence of preferring no physical interaction, rising internet penetration in the country, growing awareness among the users, controlled, secured and efficient transactions with convenience of use and a highly rewarding experience provided by the market players to their users. The volume of digital payments in India grew by 33% during the financial year 2021-2022. The Market is expected to grow at ~XX cores with the CAGR of XX% by FY’27 and the serviceable addressable market is expected to have huge upside potential. These payments are assisted by advanced technology and are, therefore, quick, simple and convenient.
When these payments are assisted by Neo Banks, they boost the purchasing power of people. On the other hand, consumers too are increasingly being drawn to digital services due surging adoption of contactless payments post COVID-19 which is also contributing in the growth of Neo Banking market by increasing their user base. The smartphone penetration rate in India is projected to increase from 54% in 2020 to 96% in 2040. As more and more people across India, including people in rural areas, use smartphones, they are increasingly exposed to digital payment modes. Gen-Zs and millennials are already comfortable with using them as they grew up with technology.
Merchants are linking themselves to Neo Banks to allow more and more consumers to access and shop for their products easily. Thus, as digital payment modes are forming the bridge between multiple consumers and merchants, they are undergoing exponential growth. Applications are made specifically for SMEs, Gig Economy, Women and Teenagers to increase the financial inclusivity and participation by different sections of the country. The best part of digital services is that they can be carried out instantly anytime anywhere and even on the move. Neo Banks provides 24*7 assistance through their BOT applications.
Overview Of Indian Neo Banking Industry And Market Size
Indian Neo Banking has grown tremendously over the past few years due to the high growth in the number of Neo Banking start-ups, increasing internet penetration, increasing financial literacy among the youth of the country and more. The market is expected to grow at a very high % since the COVID due to the preference of minimising personal touch, increasing online orders from merchants, high internet and technology penetration and more.
Key Segments Covered in Indian Neo banking Industry:-
Indian Neo banking Market
By Type of Accounts
Saving
Business
By Region of Operation
North
West
South
East
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By Type of Application
Personal
Enterprise
Other
By Age of Users
Less than 20
Between 20-40
More than 40
Overview of India Neo banking Industry
Cross Comparison of Indian Neo banking Industry Players
Value Chain Analysis of Neo Banks
Investment Analysis in Neo Banking companies
Neo Banking Industry Analysis
Key Target Audience
Neo Banking Players
Credit Based Neo Banks
Payment Gateway Banks
Banking Institutions Payment System Operators
Associated or affiliated Banks with Neo Banks
Regulatory Bodies for Neo banking Players
FinTechs
Various Card holder providers
New Entrants in Neo banking Space
Potential Neo banking Users
Time Period Captured in the Report:-
Historical Period: FY’2017-FY’2021
Forecast Period: FY’2022-FY’2027F
Indian Neo banking Industry Players/Ecosystem
Neo Banks
InstantPay
NiYO
Freo
EscrowPay Neobank
Open
Avail Finance
RazorPayX
Fi Money
Jupiter
FamPay
Karbon Card
OneBanc
FloBiz
ZikZuk
Akudo
Mahila Money
Payment Gateways
PayU Money
CC Avenue
Paytm
Paypal
Instamojo
EBS
Cashfree
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Key Topics Covered in the Report:-
Overview and Genesis of Indian Neo Banking Market
India Neo Banking Industry Cycle
Overview of Neo Banking Services/ Products
Consumption Expenditure and Borrowing Trends
Socio-Demographic Outlook of India
India Neo Banking Industry Introduction
Ecosystem of Entities in the Indian Neo Banking Industry
Value Chain Analysis of Neo Banking
India Neo Banking Market Sizing on the basis of Revenue and Number of players in the Neo Banking Industry
India Neo Banking Market Segmentation (By Type of Accounts, By Region of Operation, By Type Application and By Age Group of Users).
Cross Comparison of Major Players in Neo Banking Industry
Trends and Developments
Growth Drivers of the Indian Neo Banking Industry
Issues and Challenges in the Indian Neo-Banking Industry
Role of Government and Regulations in the Indian Neo-Banking Industry
Risk Involved and COVID Impact in Business Operations
Porter’s five forces Analysis of the Indian Neo-Banking Industry
SWOT Analysis of the Indian Neo-Banking Industry
Investment Analysis of the Indian Neo Banking Industry
Investment Timeline of the Indian Neo Banking Industry
Investment Segmentation basis of type of Investment, Type of Investor
Increase in number of Neo Banking start-ups
Future Outlook and Projection for Market Sizing
Future Outlook and Projection for Market Segmentation
Computation of Addressable Market
Growth of Digital Lending
Company profile of major Neo Banks’s players operating in the ecosystem (Company Overview, About the Company, Revenue Model, Funding and Investors, Key Features, Fee Structure, Product Offered, Strengths, Recent Developments, Key Takeaways and Financials)
Industry Speaks
Research Methodology
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