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市场调查报告书
商品编码
1555045

印度先买后付（BNPL）市场评估：依管道、依公司、依用户细分、依最终用途、依地区、机会、预测（2018 财年-2032 财年）

India Buy Now Pay Later Market Assessment, By Channel, By Enterprise, By Demographic, By End-use, By Region, Opportunities and Forecast, FY2018-FY2032F
出版日期: | 出版商: Market Xcel - Markets and Data | 英文 130 Pages | 商品交期: 3-5个工作天内

价格

印度先买后付（BNPL）市场规模预计将从2024 财年的227.5亿美元增至2032 财年的962.7亿美元，2025 财年至2032 财年的年复合成长率为19.76%。随着电子商务的出现，消费者群体显着成长。随着网路购物的兴起，许多消费者寻找灵活的支付方式，而 BNPL 让他们感到乐观。这种趋势在千禧世代和 Z 世代中尤其明显，他们重视无缝的随选体验。 BNPL 市场的成长是由数位钱包和行动支付的激增所推动的。这种整合可以提供更好的用户体验和更大的采用率，以回应当今消费者以技术为导向的本质。网路购物已成为一种趋势，增加了对 BNPL 解决方案的需求，这些解决方案可以在金融困难时期注入灵活性。 BNPL 提供者与主要零售商之间的策略合作伙伴关係将进一步促进市场成长并增加获得服务和互惠互利的机会。

BNPL 是一种融资选择，允许买家购买产品并先买后付，通常是无息分期付款。 BNPL 服务可在线上和店内结帐处使用，提供灵活的付款方式并吸引了许多买家。 BNPL 的做法迎合了消费者对便利性和财务灵活性的偏好，提供了一种先买后付的方式来立即获取产品。2024年，LazyPay 与 Blinkit 合作，实现无摩擦结帐并使其产品组合多样化。此次合作将使 Zomato 支援的Blinkit 用户能够获得信用额度，而无需向商家支付额外费用。

电子商务与数位支付的激增推动市场成长

经济的数位化和人们使用网路的价格降低推动印度数位销售的成长。先买后付（BNPL）成为电商平台购物时最受欢迎的支付方式之一。电子商务的发展为 BNPL 服务的新客户打开了大门。线上购物者在结帐时使用 BNPL 选项，以方便和灵活地支付购物费用。根据 TRAI 的资料，截至2023年 12月底，网路使用者数量达到 9,616万，而 9月底为 9.1819亿。印度在2023年最后三个月的季成长率为 1.96%。 BNPL 服务与此类线上平台的整合变得更加易于管理，因此，可存取性优势已传递给了巨大的消费者群体。 BNPL 服务有助于提高电子商务交易的平均购买价值。 BNPL 服务为那些高价商品成为其电子商务购物车的一部分并且可能有能力支付全价的消费者提供支援。这因而又会导致销售额和利润的增加。

消费者支出的增加是市场扩张的驱动因素

消费者支出不断增加，为 BNPL 提供者创造了成长机会。根据经济分析局的资料，2023年 12月消费者支出增加至 1,339亿美元。支出增加意味着由于消费者行为的变化，市场向上发展。如果 BNPL 公司目的是促进创新和获取新用户，则必须透过改善客户条件和用户体验来增强其服务产品。金融机构、零售商和电子商务平台并没有忽视这一点，为 BNPL 提供者提供了宝贵的合作机会。透过与 BNPL 公司合作，金融机构可以为其客户提供更大的支付弹性，零售商和电子商务平台可以在结帐时添加 BNPL 选项。

本报告研究和分析了印度先买后付（BNPL）市场，提供市场规模和预测、市场动态、主要参与者的现状和前景等。

目录

第1章 专案范围与定义

第2章 研究方法

第3章 执行摘要

第4章 顾客回馈

  • 产品与市场讯息
  • 品牌识别方法
  • 购买决策时考虑的因素
  • 客户支持
  • 隐私和监管考虑因素

第5章 印度BNPL市场展望（2018财年-2032财年）

  • 市场规模分析与预测
    • 金额
  • 市占率分析与预测
    • 依管道
    • 依公司
    • 依用户层
    • 依最终用途
    • 依地区
    • 市占率分析：依公司（价值）（前 5名公司及其他 -2024 财年）
  • 市场地图分析（2024年）
    • 依管道
    • 依公司
    • 依用户层
    • 依最终用途
    • 依地区

第6章 供需分析

第7章 价值链分析

第8章 波特五力分析

第9章 PESTLE分析

第10章 利率分析

第11章 市场动态

  • 市场驱动因素
  • 市场挑战

第12章 市场趋势与发展

第13章 案例研究

第14章 竞争态势

  • 前 5名市场领导者的竞争矩阵
  • 前 5名的公司的SWOT 分析
  • 前10名主要企业状况
    • Payu Payments Private Limited (Lazypay)
    • One97 Communications (Paytm)
    • Camden Town Technologies Private Limited (Zest Money)
    • Arthashastra Fintech Private Limited (ePayLater)
    • One Sigma Technologies Private Limited (Simpl)
    • Capfloat Financial Services Private Limited
    • Ola Financial Services Private Limited
    • GaragePreneurs Internet Private Limited (Slice)
    • Flexmoney Technologies Private Limited
    • MWYN Tech Private Limited (Money Tap)

第15章 策略建议

第16章 关于本公司，免责声明

Product Code: MX11882

India buy now pay later market is projected to witness a CAGR of 19.76% during the forecast period FY2025-FY2032, growing from USD 22.75 billion in FY2024 to USD 96.27 billion in FY2032. The consumer base has grown much with the advent of e-commerce. As online shopping is becoming pervasive, most consumers are looking for flexible payment arrangements, and BNPL makes them optimistic. This trend is strong amongst millennials and Gen-Z, who care about seamless and on-demand experiences. BNPL market growth is accelerated by the surge of digital wallets and mobile payments, whose integration will allow for better user experience and increased adoption, appealing to today's consumer tech-savviness. Online shopping became a trend, with BNPL solutions in high demand to inject flexibility during tough financial times. Strategic partnerships between BNPL providers and significant retailers further boost market growth, increasing access to services and mutual benefits.

BNPL is a financing option allowing purchasers to buy items and pay for them later, mostly in installments, often interest-free. Available at online and in-store checkouts, the BNPL service offers payment flexibility, attracting many buyers. The mode of BNPL resonates with the consumers' preference for convenience and flexibility in their finances, giving them instant access to products with deferred payments. In 2024, LazyPay partnered with Blinkit to enable smooth checkout and diversify its portfolio. Under this partnership, Zomato-backed Blinkit's users would be able to receive a credit line at no extra cost to the merchant.

Surge in E-commerce and Digital Payments Drives the Market Growth

Digitization of the economy and making the internet cheaper for people are some of the reasons driving the growth of digital sales in India. Buy Now Pay Later is becoming one of the most favored modes of payment while shopping on an e-commerce platform. E-commerce growth opened the doors to new customers for BNPL services. Online shoppers are using BNPL options during checkout as they invoke convenience and flexibility in the way they pay for their purchases. According to TRAI, Internet subscribers reached 96.16 million at the end of December 2023, against 918.19 million at the end of September. India registered a quarterly growth rate of 1.96% during the last three months of 2023. Integrating such online platforms with BNPL services has become more manageable, due to which the accessibility benefit has been passed on to huge consumer segments. BNPL services add up to the increase in the average value of a purchase in e-commerce transactions. BNPL services have empowered its consumers as expensive products become a part of their shopping basket in e-commerce, where they probably could afford to pay the full payment altogether. This further leads to higher sales volume and revenues.

Rising Consumer Spending to Fuel Market Expansion

Consumer spending is on an upward trajectory, and BNPL providers can gain growth opportunities. According to the Bureau of Economic Analysis, consumer spending increased to USD 133.9 billion in December 2023. Higher levels of spending would mean that changes in consumer behaviors set the market moving upwards. BNPL companies have to enhance their offerings by improving customer terms and user experiences if the objective is to foster innovation and draw new users. This has not gone unnoticed by financial institutions, retailers, and e-commerce platforms, which have opened valuable partnership opportunities for BNPL providers. Financial institutions could partner with BNPL companies to extend further flexibility in payment to their clients, while retailers and e-commerce platforms can add BNPL choices at checkout.

Online Segment to Dominate Market Share

The online segment has dominated the market share during the forecast period. A slate of organizations has entered the Buy Now Pay Later market to support the growth aspirations of SMEs in India, from business-to-business e-commerce sites. BNPL itself is an emerging market category for consumers and business leaders alike. Hence, these organizations are avidly pursuing investment rounds to grow their B2B BNPL offerings to a broader range of Indian businesses. In April 2024, BNPL mobile-first platform Simpl announced that it had extended its one-tap checkout convenience on quick commerce startup Zepto to the latter's membership program Zepto Pass. With this, it aims to increase its checkouts on Zepto to 100 million by 2026. This move is aimed at offering fast deliveries along with the convenience of instant checkout and rewards for customers.

North Dominates the Market Share

BNPL has gained popularity in the northern region, especially in the Delhi-NCR, driven by its high population density, robust economic activity, and strong inclination toward digital forms of payment. With a very high affluence level in the region, besides the high rate of technological adoption and consumer preference, it is like a prime market for BNPL services that have witnessed immense leverage and are expected to keep growing.

South is emerging as the fastest region, driven by its vivid start-up ecosystem and increasing e-commerce activity. In 2023, ZestMoney is eyeing profits within six months. The fintech firm is reportedly closing an additional round of funding from existing investors that include Scarlet Digital, Quona Capital, Zip, Omidyar Network India, and Flourish VC. But to drive business continuity, ZestMoney seeks to be a lending service provider (LSP), originating loans in conjunction with banks and NBFCs rather than lending directly from its balance sheet.

Future Market Scenario (FY2025 - FY2032F)

An increasing trend for paying later will bring a positive outlook in the market, especially with an accelerated push into online sales, thereby increasing the share of these solutions from BNPL as consumers seek increased credit for financial flexibility in such uncertain times.

Leveraging AI and machine learning will help to expand India's BNPL market to new heights.

BNPL has been a solid testament to the adaptability of the consumer market, offering a modern solution that matches the preferences and lifestyles of modern shoppers.

Key Players Landscape and Outlook

The leading market players are investing a significant amount in research and development, which includes expanding product lines and thereby growing the buy now pay later services market. These market participants are involved in various strategic activities to increase their footprint, wherein major developments of the market players include new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. For thriving and growing in an increasingly competitive and emerging market environment, buy now pay later services must provide cost-effective products.

Recently in 2024, The National Company Law Tribunal (NCLT) has gone ahead and approved a merger in which Bengaluru-based Slice will amalgamate with Guwahati-headquartered North East Small Finance Bank. After this amalgamation, Slice, with its suite of offerings in prepaid wallets and UPI-based products, would now reach out to offer technology-enabled financial services to the last mile of North East Small Finance Bank's consumers.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

  • 4.1. Product and Market Intelligence
  • 4.2. Mode of Brand Awareness
  • 4.3. Factors Considered in Purchase Decisions
    • 4.3.1. Ease of use and accessibility
    • 4.3.2. Interest rates and Fees
    • 4.3.3. Payment Flexibility
    • 4.3.4. Security
  • 4.4. Customer Support
  • 4.5. Consideration of Privacy and Regulations

5. India Buy Now Pay Later Market Outlook, FY2018-FY2032F

  • 5.1. Market Size Analysis & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share Analysis & Forecast
    • 5.2.1. By Channel
      • 5.2.1.1. Online
      • 5.2.1.2. POS
    • 5.2.2. By Enterprise
      • 5.2.2.1. Large Enterprises
      • 5.2.2.2. Small and Medium Enterprises
    • 5.2.3. By Demographic
      • 5.2.3.1. Generation X
      • 5.2.3.2. Generation Z
      • 5.2.3.3. Baby Boomers
    • 5.2.4. By End-use
      • 5.2.4.1. BFSI
      • 5.2.4.2. Retail
      • 5.2.4.3. Healthcare
      • 5.2.4.4. Leisure and Entertainment
      • 5.2.4.5. Travel and Tourism
      • 5.2.4.6. Others
    • 5.2.5. By Region
      • 5.2.5.1. North
      • 5.2.5.2. South
      • 5.2.5.3. East
      • 5.2.5.4. West and Central
    • 5.2.6. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
  • 5.3. Market Map Analysis, FY2024
    • 5.3.1. By Channel
    • 5.3.2. By Enterprise
    • 5.3.3. By Demographic
    • 5.3.4. By End-use
    • 5.3.5. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Interest Rate Analysis

11. Market Dynamics

  • 11.1. Market Drivers
  • 11.2. Market Challenges

12. Market Trends and Developments

13. Case Studies

14. Competitive Landscape

  • 14.1. Competition Matrix of Top 5 Market Leaders
  • 14.2. SWOT Analysis for Top 5 Players
  • 14.3. Key Players Landscape for Top 10 Market Players
    • 14.3.1. Payu Payments Private Limited (Lazypay)
      • 14.3.1.1. Company Details
      • 14.3.1.2. Key Management Personnel
      • 14.3.1.3. Products and Services
      • 14.3.1.4. Financials (As Reported)
      • 14.3.1.5. Key Market Focus and Geographical Presence
      • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
    • 14.3.2. One97 Communications (Paytm)
    • 14.3.3. Camden Town Technologies Private Limited (Zest Money)
    • 14.3.4. Arthashastra Fintech Private Limited (ePayLater)
    • 14.3.5. One Sigma Technologies Private Limited (Simpl)
    • 14.3.6. Capfloat Financial Services Private Limited
    • 14.3.7. Ola Financial Services Private Limited
    • 14.3.8. GaragePreneurs Internet Private Limited (Slice)
    • 14.3.9. Flexmoney Technologies Private Limited
    • 14.3.10. MWYN Tech Private Limited (Money Tap)

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

15. Strategic Recommendations

16. About Us and 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 Buy Now Pay Later Market, By Value, In USD Billion, FY2018-FY2032F
  • Figure 2. India Buy Now Pay Later Market Share (%), By Channel, FY2018-FY2032F
  • Figure 3. India Buy Now Pay Later Market Share (%), By Enterprise, FY2018-FY2032F
  • Figure 4. India Buy Now Pay Later Market Share (%), By Demographic, FY2018-FY2032F
  • Figure 5. India Buy Now Pay Later Market Share (%), By End-use, FY2018-FY2032F
  • Figure 6. India Buy Now Pay Later Market Share (%), By Region, FY2018-FY2032F
  • Figure 7. By Channel Map-Market Size (USD Billion) & Growth Rate (%), FY2024
  • Figure 8. By Enterprise Map-Market Size (USD Billion) & Growth Rate (%), FY2024
  • Figure 9. By Demographic Map-Market Size (USD Billion) & Growth Rate (%), FY2024
  • Figure 10. By End-use Map-Market Size (USD Billion) & Growth Rate (%), FY2024
  • Figure 11. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024