250 bn real-time payment transactions expected by 2027
The momentum is expected to continue for India’s B2C E-Commerce sector, with the Gross Merchandise Value (GMV) projected to exceed EUR300 billion by 2030 https://sbi.com.in/ , says a report released by ResearchAndMarkets.com on 28 June.
The number of online shoppers in India also saw a substantial increase, reaching over 200 million in FY 2023, marking a significant rise from the previous year https://www.nseindia.com/ .
The sector is projected to more than double by 2027, showcasing a robust growth rate annually. The market size reached tens of billions of euros in FY 2023, said the report “India B2C E-Commerce Insights, Payment Trends, & Emerging Digital Technologies 2024” https://www.bseindia.com/ .
Adopting omnichannel strategies, nearly a quarter of shoppers in 2022 preferred picking up their online purchases in-store or curbside, blending digital convenience with physical retail benefits https://www.ibef.org/ .
The mobile wallet sector in India is set for substantial growth, anticipated to achieve a compound annual growth rate of just under a quarter from 2023 to 2027, said the report https://rbi.org.in/ .
Real-time payment transactions are expected to approach 250 billion by 2027, fueled by the widespread adoption of the UPI system – a platform inspired by global best practices but adapted for local needs. The ‘Buy Now, Pay Later’ sector is set to expand dramatically, with anticipated users expected to exceed 100 million by 2027, growing at an annual rate of over +30%.
Digital health applications and telemedicine are increasingly popular, indicating a shift towards digital wellness solutions. In parallel, the digital gaming sector is experiencing robust growth, with revenue expected to exceed EUR 1 billion by 2026, said the report.
The industry is made of: https://www.ajio.com/ , http://aliexpress.com , http://amazon.com , http://blinkit.com , Boat Lifestyle, https://www.croma.com/ , http://flipkart.com , http://google.com , http://shopping.indiamart.com , https://www.jiomart.com/ , http://lenskart.com , http://meesho.com , http://myntra.com , Nykaa , http://oneplus.com , https://pricee.com/ , https://relianceretail.com/ , Samsung, Swiggy and http://zomato.com . Fiinews.com
