Press release
India Banking-as-a-Service (BaaS) Market to Surge: Expected to Hit USD 30.19 Billion by 2030 with a 13.2% CAGR
India Banking-as-a-Service (BaaS) Market
India Banking-as-a-Service (BaaS) Market Overview:
Banking-as-a-Service (BaaS) is an end-to-end digital banking procedure that enables seamless execution of web-based financial services. Available on demand and scheduled efficiently, BaaS integrates multiple service providers into a single streamlined procedure, ensuring compliance with local banking regulations. Banking institutions have been hesitant to provide online services for a long time due to concerns about sensitive data and security, as well as the performance of complicated processes. However, as the world became more digital, banks went a step further and began offering Banking as a Service (BaaS). Banking-as-a-service companies are becoming more common these days.
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India Banking-as-a-Service (BaaS) Market Dynamics:
The integration of AI analytics is a major driver of the India Banking-as-a-Service (BaaS) Market. AI applications in banking encompass several key areas are Speech Recognition and NLP, Service Robotics, Machine Learning, Computer Vision, and Biometrics. These advancements contribute to the efficiency and effectiveness of financial services, driving the growth of the India Banking-as-a-Service (BaaS) Market. The favorable government policies and regulations regarding banking services are the main drivers of the BaaS market in the country. Report covers the India Banking-as-a-Service (BaaS) Market trens like UPI recorded 4.2 billion transactions worth USD 103 billion in October 2021. According to the RBI, India's FOREX reserves reached USD 640 billion as of October 2021. India is evolving into a vibrant environment where finance start-ups might become billion-dollar unicorns.
The India Banking-as-a-Service (BaaS) Market is poised for robust growth, driven by technological progressions, increasing AI integration and evolving regulatory frameworks. The sector's rapid expansion reflects its critical role in the digital transformation of India's financial services industry.
India Banking-as-a-Service (BaaS) Market Scope:
Market Size in 2023 USD 12.67 Bn.
Market Size in 2030 USD 30.19 Bn.
CAGR 13.2% (2024-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 255
No. of Tables 120
No. of Charts and Figures 115
Segment Covered by Type, Enterprise, and Service
Report Coverage India Banking-as-a-Service (BaaS) Market Share, Size & Forecast by Revenue | 2024-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.
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India Banking-as-a-Service (BaaS) Market Segmentation:
By Type
API-based BaaS
Cloud-based BaaS
By Enterprise
SMEs
Large Enterprises
By Service
Banking IaaS
Banking as a Platform
FinTech SaaS
NBFCs
Some of the current players in the India Banking-as-a-Service (BaaS) Market are:
Instamojo
Razorpay
Paytm
Policybazaar
Shiksha Finance
PineLabs
ZestMoney
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Key questions answered in the India Banking-as-a-Service (BaaS) Market are:
What is the CAGR of the India Banking-as-a-Service (BaaS) Market in the forecast period (2024-2030)?
What are the drivers of the India Banking-as-a-Service (BaaS) Market?
Who are the key players in India Banking-as-a-Service (BaaS) Market?
Which segment has lucrative growth opportunities in the India Banking-as-a-Service (BaaS) Market?
Key Offerings:
Past Market Size and Competitive Landscape
India Banking-as-a-Service (BaaS) Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
India Banking-as-a-Service (BaaS) Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Stellar Market Research:
Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace, and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.
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