openPR Logo
Press release

India Cryptocurrency Market to Witness 54.11% CAGR until 2032

01-31-2024 11:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

India Cryptocurrency Market

India Cryptocurrency Market

IMARC Group's report titled " India Cryptocurrency Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ". The India cryptocurrency market size is projected to exhibit a growth rate (CAGR) of 54.11% during 2024-2032.

Factors Affecting the Growth of the India Cryptocurrency Industry:

• Increasing Tech-Savvy Population and Digitalization:

The burgeoning tech-savvy youth population in India, combined with a significant increase in digitalization, is a key driver of the cryptocurrency market in the country. India, with its large base of internet users has shown a rapid adoption of digital technologies, particularly among the younger demographic. The widespread use of smartphones and the internet has created fertile ground for the adoption of digital currencies. This trend is further bolstered by the growing awareness and understanding of blockchain technology among Indians, particularly in urban areas. The initiatives by the Government of India toward digitalization, such as Digital India, have also played a crucial role in this shift, making the population more receptive to new forms of digital financial transactions, including cryptocurrencies.

• Remittances and Cross-border Transactions:

The role of cryptocurrencies in facilitating remittances and cross-border transactions has been a significant factor in their popularity in India. India is one of the largest receivers of remittances globally, with a substantial portion of its population working overseas. Traditional methods of sending money back home are often costly and time-consuming. Cryptocurrencies offer a faster, more efficient, and often cheaper alternative for cross-border money transfers. This advantage is particularly appealing to the Indian diaspora who seek more economical and convenient ways to send funds. Additionally, the decentralized nature of cryptocurrencies provides a level of security and transparency that is sometimes lacking in traditional banking systems. As more people become aware of these benefits, the adoption of cryptocurrencies for remittances and international transactions in India is likely to increase.

• Regulatory Environment and Government Initiatives:

The regulatory environment in India has been evolving and plays a critical role in shaping the cryptocurrency market. Initially, there was significant uncertainty and skepticism from the Indian government and the Reserve Bank of India (RBI) regarding cryptocurrencies. However, the Supreme Court's decision in 2020 to overturn the RBI's ban on cryptocurrency banking has led to a renewed interest and investment in this sector. Since then, there has been a gradual, albeit cautious, shift toward acknowledging the potential of cryptocurrencies and blockchain technology. The Government is exploring ways to create a balanced regulatory framework that ensures consumer protection, prevents illegal activities, and fosters innovation in the crypto space. The ongoing developments in regulatory policies are keenly watched by investors and market participants, as they will significantly influence the future trajectory of the cryptocurrency market in India.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/india-cryptocurrency-market/requestsample

India Cryptocurrency Market Report Segmentation:

Type Insights:

• Bitcoin
• Ethereum
• Bitcoin Cash
• Ripple
• Litecoin
• Dashcoin
• Others

Based on the type, the market has been segmented into Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Dashcoin, and others.

Component Insights:

• Hardware
• Software

On the basis of the component, the market has been bifurcated into hardware and software.

Process Insights:

• Mining
• Transaction

Based on the process, the market has been segregated into mining and transaction.

Application Insights:

• Trading
• Remittance
• Payment
• Others

On the basis of the application, the market has been categorized as trading, remittance, payment, and others.

Regional Insights:

• South India
• North India
• West & Central India
• East India

On the regional basis, the market is divided into South, North, West & Central, and East India.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=9084&flag=C

India Cryptocurrency Market Trends:

The India cryptocurrency market is witnessing the integration of cryptocurrency with mobile payment platforms and fintech services. Given vast mobile user base in India and the popularity of digital wallets, this integration is poised to enhance the accessibility and usability of cryptocurrencies for everyday transactions. This trend is complemented by the growing interest in decentralized finance (DeFi) applications, which offer alternative financial services, such as lending, borrowing, and insurance, without traditional intermediaries.
Additionally, the Indian market is seeing an increased interest in Non-Fungible Tokens (NFTs), driven by the rich cultural and artistic heritage in the country. NFTs are opening new avenues for artists, musicians, and creators to monetize their work in the digital space. Moreover, there is a rising focus on blockchain technology beyond cryptocurrencies, with several Indian startups and established companies exploring its applications in areas like supply chain management, healthcare, and governance.

Note: 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.

Browse More Reports:-

https://www.digitaljournal.com/pr/news/imarc/united-states-electric-bus-market-128616516.html

https://www.digitaljournal.com/pr/news/imarc/norway-aquaculture-market-expanding-cagr-1732024805.html

https://www.digitaljournal.com/pr/news/imarc/indonesia-cybersecurity-market-size-expand-1266669144.html

https://www.digitaljournal.com/pr/news/imarc/united-states-e-invoicing-market-expected-1434740757.html

https://industrytoday.co.uk/it/south-korea-cloud-storage-market-to-expand-at-a-cagr-of-2390-over-2024-2032-imarc-group

Contact US:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release India Cryptocurrency Market to Witness 54.11% CAGR until 2032 here

News-ID: 3367655 • Views:

More Releases from IMARC Group

GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: 5.3%
GCC Pet Food Market Size is Expected to Reach USD 422.9 Million By 2033 | CAGR: …
GCC Pet Food Market Overview Market Size in 2024: USD 266.2 Million Market Size in 2033: USD 422.9 Million Market Growth Rate 2025-2033: 5.3% According to IMARC Group's latest research publication, "GCC Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC pet food market size was valued at USD 266.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 422.9 Million by 2033, exhibiting a
GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | With a 7.50% CAGR
GCC Residential Real Estate Market Size to Worth USD 147.77 Billion by 2033 | Wi …
GCC Residential Real Estate Market Overview Market Size in 2024: USD 73.31 Billion Market Size in 2033: USD 147.77 Billion Market Growth Rate 2025-2033: 7.50% According to IMARC Group's latest research publication, "GCC Residential Real Estate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC residential real estate market size was valued at USD 73.31 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 147.77 Billion by
GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAGR
GCC Drones Market Size to Surpass USD 2,005.3 Million by 2033 | With a 13.3% CAG …
GCC Drones Market Overview Market Size in 2024: USD 588.2 Million Market Size in 2033: USD 2,005.3 Million Market Growth Rate 2025-2033: 13.3% According to IMARC Group's latest research publication, "GCC Drones Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The GCC drones market size was valued at USD 588.2 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 2,005.3 Million by 2033, exhibiting a growth rate of
Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Medical Imaging Market to Surpass USD 70.8 Billion by 2033, at a CAGR of 5.03%
Market Overview: The medical imaging market is experiencing rapid growth, driven by Growing Burden of Chronic and Age-Related Diseases, Expansion of Government-Funded Health Infrastructure and Technological Advancements in Imaging Modalities. According to IMARC Group's latest research publication, "Medical Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global medical imaging market size reached USD 44.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach

All 5 Releases


More Releases for India

India Smart Air Purifier Market Set to Witness Significant Growth by 2035 | Phil …
India smart air purifier market was valued at $125.8 million in 2024 and is projected to reach $298.7 million by 2035, growing at a CAGR of 8.3% during the forecast period (2025-2035). India Smart Air Purifier Market Overview The Indian smart air purifier market is experiencing significant growth, driven by increasing concerns over air pollution and its impact on health. Consumers are increasingly adopting smart air purifiers equipped with advanced features
Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li …
RnM newly added a research report on the Ayurvedic Service market, which represents a study for the period from 2020 to 2026. The research study provides a near look at the market scenario and dynamics impacting its growth. This report highlights the crucial developments along with other events happening in the market which are marking on the growth and opening doors for future growth in the coming years. Additionally, the
12-11-2018 | Health & Medicine
Pasta
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the
Interior Designers India, Designers and Architects India, Interior Design Consul …
Synergy Corporate Interiors Pvt. Ltd. are offer Designers and Architects India Our architects, designers are working an national and international client base. The final design output is then integrated with the various technical and engineering aspects and taken into production. The expression is also individualistic, based on the communication of the correct corporate identity. Our designers, engineers and architects perform any plan successfully combine handy knowledge with creative ideas into
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat …
All the Domain Registration services are at affordable price and assure you for the 100% quality. India Internet offers cheap domain name registration for many domain extensions available. We are a full-service web site solutions provider. We offer a full range of web services including domain registration India, Web Hosting India, Web design, SEO marketing and etc. We offer different standard and different Windows .NET low-cost, full-featured, all-inclusive web hosting and domain
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will