印度加密货币市场评估：依类型、组成部分、流程、最终用户、地区、机会、预测（2018 财年-2032 财年）

印度加密货币市场规模预计将从 2024 财年的 3.0168 亿美元增至 2032 财年的 5.3286 亿美元，在 2025 财年至 2032 财年的预测期内复合年增长率为 7.37%。分散式帐本技术的采用增加，跨国汇款中加密货币的使用增加，数位资产的采用增加，技术创新，公众意识的提高，金融支付系统透明度的需求增加，市值的增加是国内加密货币的成长因素市场。

加密货币（虚拟货币）以数位方式存在，并使用区块链等分散式帐本技术来验证和保护交易。它不是依赖银行来验证交易，而是一个点对点系统，允许用户从世界任何地方发送和接收付款。加密货币有不同类型，每种都有自己的规则。加密货币是去中心化的，用于购买、出售、交换和储存加密货币，因为没有监管机构对其进行管理。

加密货币价格的波动取决于政府政策、经济状况、媒体报告和许多其他因素。银行开始投资加密货币平台并推出基于区块链的系统。印度有超过 1,900 万加密货币投资者，其中 75% 属于 18-35 岁的青年族群。由于区块链技术和数位货币的优势，企业纷纷投资加密货币，与其他企业合作，为用户提供优质服务。

数位资产的激增推动市场成长

加密货币市场表明，数位资产的采用正在增加。随着越来越多的个人和企业认识到加密货币在安全、高效的交易和通膨对冲方面的潜力，加密货币的使用正在扩大。金融机构也越来越多地采用加密货币服务，提高了市场的可信度。它的广泛接受度超越了比特币和以太坊，扩展到提供多样化投资机会的各种山寨币和代币。与传统金融系统相比，加密货币的去中心化性质具有优势，例如较低的交易成本和更高的金融服务可用性，尤其是在银行服务有限的地区。根据《富比士》报道，2024 年 1 月至 2 月，数位资产成长了 80%。过去3个月总交易量增加了100%。根据市场趋势和分析，系统交换的是数位货币，而不是像现金一样的银行存款，因此不需要银行间支付。在加密货币市场中获得更高回报的能力对于在其投资组合中寻求阿尔法的机构投资者来说很有吸引力。机构投资者的采用为加密货币市场带来了稳定性、流动性和可接受性。

财务透明度推动市场扩张

对金融支付系统营运效率和透明度的日益增长的需求正在推动加密货币市场的成长。数位货币是使用区块链技术创建的，该技术允许多个实体储存过去交易的副本。区块链采用加密技术来确保交易的安全性，使敌对行为者难以闯入系统。这种高端证券鼓励投资者和企业参与加密货币市场，提高其整体流动性、稳定性和可靠性。根据Global Crypto Adoption Index 2023，印度在消费者日常生活中草根加密货币采用方面在 154 个国家中排名第一。传统的金融系统通常涉及中介机构，支付过程需要时间，导致高额费用和延误。区块链消除了中介机构的作用，并赋予消费者暂停交易并将其记录在分类帐上的权力。它实现了即时、低成本的国际贸易，这对于跨国公司和个人来说尤其有前途。

本报告研究和分析了印度加密货币市场，提供市场规模和预测、市场动态以及主要参与者的现状和前景。

目录

第一章研究方法论

第二章 专案范围与定义

第三章执行摘要

第四章 客户回馈

• 人口统计（年龄/群组分析 - 婴儿潮世代和 X 世代、千禧世代、Z 世代、性别、收入 - 低收入、中等收入、高收入、地区、国籍等）
• 市场意识和产品讯息
• 品牌知名度和忠诚度
• 购买决策时考虑的因素
• 使用加密货币的目的

第五章 印度加密货币市场展望（2018财年-2032财年）

• 市场规模及预测
  • 金钱金额
• 依类型
  • 比特币
  • 以太坊
  • 繫绳
  • 波纹
  • 其他
• 依组件
  • 硬件
  • 软件
• 依流程
  • 矿业
  • 交易
• 依最终用户
  • 交易
  • 零售、电子商务
  • 银行业
  • 政府
  • 其他
• 依地区
  • 北方
  • 南部
  • 东
  • 西部、中部
• 市占率：依公司划分（2024 财年）

第 6 章 市场测绘（2024 财政年度）

• 依类型
• 依组件
• 依流程
• 依最终用户
• 依地区

第七章 宏观环境与产业结构

• 供需分析
• 价值链分析
• PESTEL 分析
• 波特五力分析

第八章市场动态

• 增长动力
• 成长限制因素（问题、限制因素）

第九节 主要公司状况

• 前 5 名市场领导者的竞争矩阵
• 前 5 名市场领导者的市场收入分析（2024 财年）
• 併购/合资（如适用）
• SWOT 分析（5 家市场公司）
• 专利分析（如果适用）

第10章案例研究

第十一章 开户费用定价分析

第十二章 主要公司展望

• iBlock Technologies Private Limited
• WazirX
• Primestack Private Limited
• Hyperlink Infosystem Private Limited
• Unocoin Technologies Private Limited
• Krypc Technologies Private Limited
• Antier Solutions Private Limited
• Monkhub Innovations Private Limited
• Systango Technologies Limited
• Bitdeal

第十三章 战略建议

第十四章关于我们公司、免责声明

India Cryptocurrency market is projected to witness a CAGR of 7.37% during the forecast period FY2025-FY2032, growing from USD 301.68 million in FY2024 to USD 532.86 million in FY2032. The rise in distributed ledger technology adoption, increasing use of cryptocurrencies for cross-border remittances, rising adoption of digital assets, technological innovations, rising awareness among individuals, rise in the need for transparency in the financial payments systems, and improved market capitalization are some of the factors that have led to the growth of cryptocurrency market in the country.

Cryptocurrency, or virtual currency, exists digitally and uses distributed ledger technology such as blockchain to validate and secure transactions. It does not rely on banks to validate the transactions but is a peer-to-peer system that allows users to send and receive payments from anywhere in the world. Various types of cryptocurrencies exist, each with its own set of rules. Cryptocurrencies are decentralized, as there is no regulatory body governing them, and they are used for buying, selling, swapping, and storing cryptos.

Prices of cryptocurrencies fluctuate due to government policies, economic conditions, media coverage, and many other factors. Banks have started investing in cryptocurrency platforms and launching their blockchain-based systems. India has over 19 million cryptocurrency investors, 75% of whom belong to the youth demographic aged between 18 and 35. With the advantages of blockchain technology and digital currency, companies are collaborating with other companies and investing in cryptocurrencies to offer quality services to their users.

Rise in Adoption of Digital Assets Will Boost the Market Growth

The cryptocurrency market reveals the rise in the adoption of digital assets. As more individuals and businesses identify the potential of cryptocurrencies for secure, efficient transactions, and hedge against inflation, their usage is growing. Financial institutions are growingly incorporating crypto services, incorporating credibility into the market. Its broader acceptance is not limited to Bitcoin and Ethereum, but it extends to a variety of altcoins and tokens that offer diverse investment opportunities. Decentralized feature of cryptocurrencies provides benefits compared to conventional financial systems which include reduced transaction costs and advanced availability of financial services, especially in areas with limited banking access. According to Forbes, deposits saw an 80% increase in digital assets from January to February in FY2024. There was a 100% rise in total transactions over the last three months. Oriented with market trends and analysis, no interbank payments are required as the system exchanges digital currencies instead of bank deposits like cash. The capability for more returns in the crypto market is attractive to institutions seeking alpha in their portfolios. Institutional adoption brings stability, liquidity, and acceptance to the cryptocurrency market.

Financial Transparency Boosting Market Expansion

An increase in the need for operational efficiency and transparency in financial payment systems is driving the growth of the cryptocurrency market. Digital currencies are being created using Blockchain technology which allows multiple entities to keep copies of their historic transactions. It employs cryptographic techniques to secure transactions, making it difficult for hostile actors to hack into the system. The high-end security has drawn investors and institutions to participate in the cryptocurrency market, increasing its overall liquidity, stability, and credibility. According to Global Crypto Adoption Index 2023, India bagged the first position amongst 154 nations in grassroots crypto adoption by consumers for daily life. Traditional financial systems often involved intermediaries and lengthy settlement processes, causing high fees and delays. Blockchain eliminates the middlemen role and consumers have the authority to pause transactions and note them in their ledger. It enables real-time, low-cost international transactions, which is especially promising for global businesses and individuals.

Northern Region of the Country to Dominate the Market Share

The market is dominated by the North, owing to the country's acceptance of cryptocurrency and the increase in the number of cryptocurrency exchanges. The robust regulatory framework, fostering innovation, and investor confidence are the factors boosting the market growth. Institutions are increasingly investing in cryptocurrencies, while retail adoption continues to grow. The leading players in the region are entering into partnerships and collaborating with companies to address the competitive market.

South is emerging at a faster pace in India cryptocurrency market. The region is witnessing high investments in companies developing blockchain technology and innovative solutions for cryptocurrency mining systems that have higher hash rates and reliable power efficiency.

Hardware Dominates the Market

The hardware segment dominated the market. It embraces the physical components and devices used in cryptocurrency transactions and mining, which includes cryptocurrency wallets, which store digital assets securely. Various hardware types are prevalent with distinct features and utilities. Application-Specified Integrated Circuits (APICs) specializes in mining specific cryptocurrencies such as Bitcoin or Ethereum efficiently, while Graphic Processing Units (GPUs) offer versatility with lower efficiency. Understanding these hardware segments aids businesses in approaching customers effectively. The hardware segment is vital to the integrity and efficiency of cryptocurrency networks, as it assists in the computational power needed for mining and ensures the resilience of the underlying blockchain technology. The Bitmain Antminer S19j Pro+ is one of the most powerful and efficient ASIC miners in the market with a power efficiency of 28 J/TH. Software is a fast-growing segment, encompassing a wide range of applications, tools, and platforms that enable the creation and exchange of digital assets.

Bitcoin is Highly Adopted in the Market

Bitcoin has emerged as an extraordinary performer in FYF2023, overshadowing traditional assets. Boasting a 154.37% rise in 2023 it has contributed $530 billion to its market capitalization. Bitcoin is a virtual currency operating as a decentralized alternative payment method in the cryptocurrency market which can be used for accounting, investing, and establishing smart card contracts in the virtual market. The development of Bitcoin Exchange Traded Funds (ETFs) is anticipated to increase the volume of Bitcoin trade during the forecast period in the country. It urges a wide range of investors, from institutional players seeking a store of value to retail investors involved in trading and long-term investment.

Ethereum is the next fastest-growing cryptocurrency in the country driven by its fundamental role in the blockchain revolution, technical expertise, and a macroeconomic environment advanced for disruption. Ethereum is an open software platform that introduced the concept of smart cards and allows users to build a range of decentralized applications.

Future Market Scenario (FY2025 - FY2032F)

According to the Mudrex survey, 45% of users are with retirement plans investing in cryptocurrencies. This interesting insight shows a growing trend of using digital assets in long-term financial goals like a retirement investment strategy. It sheds light on the perception that cryptocurrencies will be the main asset class in the future.

India has emerged as the fastest-growing adopter of cryptocurrency investments in FY2024, as on-chain value received by Indians reached USD 270 billion in FY2024, up 60% year-on-year. These statistics show that the future of the cryptocurrency market has a wide prospect and together with AI tools it will be more innovative, and user-friendly and will act as an important asset class in the future.

Key Players Landscape and Outlook

India cryptocurrency market can be described as a moderately competitive market characterized by the presence of expert players. Market leaders are boosting the competition in the market by seeking several strategies aimed at long-term sustenance, thereby making it challenging for new players to enter the market. The strategies followed by these companies are product innovations, strong focus on research and development activities, geographical expansions, robust partnership agreements, and joint ventures. Moreover, there is a growing emphasis on compliance and regulatory fidelity to address concerns about money laundering and fraud.

WazirX founder Nischal Shetty launched their new venture, Pi42, in February 2024. Pi42 is a crypto-INR futures exchange that will provide a platform for users to invest in crypto tokens without worrying about paying tax. It is registered under the Financial Intelligence Unit-India and is currently providing 5 tokens. Retail investors can now access the cryptocurrency market with leverage up to 20 times with no expiry dates.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Voice of Customer

• 4.1.Demographics (Age/Cohort Analysis - Baby Boomers and GenX, Millennials, Gen Z; Gender; Income - Low, Mid and High; Geography; Nationality; etc.)
• 4.2.Market Awareness and Product Information
• 4.3.Brand Awareness and Loyalty
• 4.4.Factors Considered in Purchase Decision
  • 4.4.1.Type of Cryptocurrency
  • 4.4.2.Minimum Investment
  • 4.4.3.Trading Platform
  • 4.4.4.Account Opening Fees
  • 4.4.5.Portfolio Goals
  • 4.4.6.Risk and Return
  • 4.4.7.Promotional Offers & Discounts
• 4.5.Purpose of Using Cryptocurrency

5.India Cryptocurrency Market Outlook, FY2018-FY2032F

• 5.1.Market Size & Forecast
  • 5.1.1.By Value
• 5.2.By Type
  • 5.2.1.Bitcoin
  • 5.2.2.Ethereum
  • 5.2.3.Tether
  • 5.2.4.Ripple
  • 5.2.5.Others
• 5.3.By Component
  • 5.3.1.Hardware
    • 5.3.1.1.Central Processing Unit
    • 5.3.1.2.Graphics Processing Unit
    • 5.3.1.3.Application-Specific Integrated Circuit
    • 5.3.1.4.Field Programmable Gate Array
  • 5.3.2.Software
    • 5.3.2.1.Mining Software
    • 5.3.2.2.Exchange Software
    • 5.3.2.3.Wallet
    • 5.3.2.4.Payment
    • 5.3.2.5.Others
• 5.4.By Process
  • 5.4.1.Mining
  • 5.4.2.Transaction
• 5.5.By End-user
  • 5.5.1.Trading
  • 5.5.2.Retail and E-Commerce
  • 5.5.3.Banking
  • 5.5.4.Government
  • 5.5.5.Others
• 5.6.By Region
  • 5.6.1.North
  • 5.6.2.South
  • 5.6.3.East
  • 5.6.4.West and Central
• 5.7.By Company Market Share (%), FY2024

6.Market Mapping, FY2024

• 6.1.By Type
• 6.2.By Component
• 6.3.By Process
• 6.4.By End-user
• 6.5.By Region

7.Macro Environment and Industry Structure

• 7.1.Supply Demand Analysis
• 7.2.Value Chain Analysis
• 7.3.PESTEL Analysis
  • 7.3.1.Political Factors
  • 7.3.2.Economic System
  • 7.3.3.Social Implications
  • 7.3.4.Technological Advancements
  • 7.3.5.Environmental Impacts
  • 7.3.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.4.Porter's Five Forces Analysis
  • 7.4.1.Supplier Power
  • 7.4.2.Buyer Power
  • 7.4.3.Substitution Threat
  • 7.4.4.Threat from New Entrant
  • 7.4.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Key Players Landscape

• 9.1.Competition Matrix of Top Five Market Leaders
• 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, FY2024)
• 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 9.4.SWOT Analysis (For Five Market Players)
• 9.5.Patent Analysis (If Applicable)

10.Case Studies

11.Account Opening Fees Pricing Analysis

12.Key Players Outlook

• 12.1.iBlock Technologies Private Limited
  • 12.1.1.Company Details
  • 12.1.2.Key Management Personnel
  • 12.1.3.Products & Services
  • 12.1.4.Financials (As reported)
  • 12.1.5.Key Market Focus & Geographical Presence
  • 12.1.6.Recent Developments
• 12.2.WazirX
• 12.3.Primestack Private Limited
• 12.4.Hyperlink Infosystem Private Limited
• 12.5.Unocoin Technologies Private Limited
• 12.6.Krypc Technologies Private Limited
• 12.7.Antier Solutions Private Limited
• 12.8.Monkhub Innovations Private Limited
• 12.9.Systango Technologies Limited
• 12.10.Bitdeal

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.Strategic Recommendations

14.About Us & Disclaimer

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1.India Cryptocurrency Market, By Value, In USD Million, FY2018-FY2032F
• Figure 2.India Cryptocurrency Market Share (%), By Type, FY2018-FY2032F
• Figure 3.India Cryptocurrency Market Share (%), By Component, FY2018-FY2032F
• Figure 4.India Cryptocurrency Market Share (%), By Process, FY2018-FY2032F
• Figure 5.India Cryptocurrency Market Share (%), By End-user Industry, FY2018-FY2032F
• Figure 6.India Cryptocurrency Market Share (%), By Region, FY2018-FY2032F
• Figure 7.By Type Map-Market Size (USD Million) & Growth Rate (%), FY2024
• Figure 8.By Component Map-Market Size (USD Million) & Growth Rate (%), FY2024
• Figure 9.By Process Map-Market Size (USD Million) & Growth Rate (%), FY2024
• Figure 10.By End-user Industry Map-Market Size (USD Million) & Growth Rate (%), FY2024
• Figure 11.By Region Map-Market Size (USD Million) & Growth Rate (%), FY2024