State of India Mobile App Market 2026

State of India Mobile App Market 2026Report

– All Rights Reserved2Chart title goes here01India Remains Unmatched in Mobile App ScaleIndia continues to be the world’s largest mobile app market by volume. While downloads have stabilized since 2025, overall activity remains structurally strong, reflecting a mature but resilient user base.02Growth Shifts from Acquisition to HabitAs smartphone adoption matures, growth is no longer install-led. India’s leading apps now compete on frequency, retention, and everyday utility—turning payments, commerce, content, and mobility into daily habits.03Non-Gaming Apps Anchor the EconomyNon-gaming apps now underpin India’s app economy. Finance, short-form entertainment, education, AI, and quick commerce drive monetization through subscriptions, high-frequency usage, and service-led value beyond entertainment spend.04Localization And Regionalization Define Category LeadersIndia’s fastest growth comes from Tier-2 and Tier-3 cities. Apps that localize language, pricing, logistics, and content outperform metro-first strategies and capture the next wave of long-term users.05Incumbents Defend Scale, Challengers Gain ShareCategory leaders retain scale, but momentum favors focused challengers. Across commerce, finance, and mobility, mobile-native players win share by solving specific, high-frequency needs better than broad incumbents.06Execution Defines Leadership in IndiaIn India’s competitive app market, leadership depends on execution—not reach alone. Winners pair scale with differentiation through speed, affordability, video-first formats, or localized use cases that sustain repeat engagement.Executive Summary | India App Market Key Takeaways

– All Rights Reserved3Executive Summary | 2025 India Mobile App Landscape at a Glance Hours Per Day3.4Average Time Spent per UserYoY GrowthiOS & Android Across 60+ Markets (Excludes China)>12 minutes Per waking hour+2.4%Per Month23# of Apps Used per userYoY GrowthiOS & Android Across 60+ Markets (Excludes China)8 unique apps used each day per user on average+3.0%Billion25.5New App DownloadsYoY GrowthiOS & Google Play48,000 apps downloaded per minute in 2025+4.0%Billion$1.0In-App Purchase (IAP) RevenueYoY GrowthiOS& Google Play. Revenue is gross, inclusive of any percent taken by the app stores.USD $2,000 spent per minute in 2025+27%Trillion1.23Total Hours SpentYoY GrowthiOS & Android Phones >840 hours on average for every person in India in 2025+9.0%

– All Rights Reserved4ContentsMacro Mobile Trends: India’s App Market Outlook for 2026 Top Rankings: India’s Leading Apps in 2025 Shopping Apps: Digital Retail Expands Beyond Tier-1 Cities Food Delivery & Quick Commerce: Speed, Frequency, and Urban Habit Formation Financial Services: Mobile-First Growth Across Investing, Credit, and Banking Entertainment Apps: Short-Form Content Redefines Mobile Consumption Education & Jobs: Video-First Learning Accelerates Engagement and Spend Emerging Segments: Mobility and Social Discovery Embed Into Digital Routines Conclusion11 17 21 28 34 47 51 55 62

– All Rights Reserved5Sensor Tower Introduction/OverviewSensor Tower is the leading source of mobile app, digital advertising, retail media, and audience insights for the largest brands and app publishers across the globe. With a mission to measure the world’s digital economy, Sensor Tower’s award-winning platform delivers unmatched visibility into the mobile app and digital ecosystem, empowering organizations to stay ahead of changing market dynamics and make informed, strategic decisions. Founded in 2013, Sensor Tower’s mobile app insights have helped marketers, app, and game developers demystify the mobile app landscape with visibility into usage, engagement, and paid acquisition strategies. Today, Sensor Tower’s digital market insights platform has expanded to include Audience, Retail Media, and Pathmatics Digital Advertising Insights, helping brands and advertisers understand their competitor’s advertising strategies and audiences across web, social, and mobile.Press Inquiries: press-apac@sensortower.com Business Inquiries: sales@sensortower.com

– All Rights Reserved6Sensor Tower | Our Customers Indian market leaders trust Sensor Tower insights to grow their business

– All Rights Reserved7Sensor Tower SolutionsSensor Tower App Advertising Insights For those who need visibility into paid user acquisition strategies. Enjoy insight into: global and regional share of voice (SOV) across apps and the biggest mobile app ad networks, top advertisers, publishers, creatives, and more.Sensor Tower App Performance Insights For those who need visibility into the mobile app ecosystem. Enjoy insight into: app rankings, downloads, and revenue; active users, demographics, retention, sessions, and time spent; app ratings and reviews, keywords, search ads, and more.Sensor Tower Audience Insights For those who need visibility into your existing, competitor, and potential new audiences. Enjoy insight into: which apps consumers are actually interacting with (app engagement) AND which ads they’re seeing (ad exposure).Sensor Tower Pathmatics Digital Advertising Insights For those who need visibility into the digital ad ecosystem. Gain insight into: ads served, spend and impression estimates, SOV, and more across key channels, like: Facebook, Instagram, X (formerly Twitter), OTT, YouTube, display, video, and others.

– All Rights Reserved8Sensor Tower SolutionsSensor Tower Pathmatics Retail Media Insights For those who need industry-first insight into on- and off-site retail media network investments Enjoy insight into: ad spend, media mix, share of wallet, impressions, and SOV for brands and products across retailers – gaining a coveted view into the co-branded digital ad ecosystem and retail media networks.Sensor Tower Advanced Usage Insights For those who need the deepest look into app user engagement. Enjoy insight into: sessions per user; time spent; time of day; days used per time period; new, retained, resurrected, and churned user trends; and cohort usage overlap.Gaming Insights For those who need the deepest look into the mobile gaming ecosystem. Enjoy insight into: downloads, revenue, RPD, and ARPDAU beyond the top-level category (Lifestyle & Puzzle) and can drill deeper into genres (Puzzle, Arcade, etc.) and sub-genres (Swap, Word, etc.).Sensor Tower Video Game Insights Discover top game trends on PC and Console platforms Get deep insights into key metrics like sales, revenue, DAU, and MAU for over 140,000 PC and Console games across 100+ global markets. Analyze shifts in player behavior to uncover critical intelligence on player acquisition and retention.

– All Rights Reserved9Sensor Tower Executive SummaryThis report delivers a comprehensive view of India’s mobile app ecosystem, highlighting how scale is translating into engagement and monetization across key verticals. It examines recent trends in app downloads, consumer spend, and time spent across major categories such as shopping, financial services and quick commerce, alongside fast-emerging segments such as short-drama, education and mobility. Leveraging Sensor Tower’s App Performance and Advertising Insights, the report also explores how leading apps are driving growth through category-specific strategies—ranging from regional expansion and product specialization to partnerships and digital advertising. Together, these insights illustrate how India’s mobile market is evolving from acquisition-led growth toward more sustainable, value-driven app ecosystems.Clarification on Revenue and Downloads Data Sensor Tower’s revenue figures are derived from estimated in-app purchase (IAP) revenue on the App Store and Google Play, excluding ad revenue, revenue from third-party Android app- store sales, and direct payment revenue from developers’ websites and other channels. Unless explicitly stated as net revenue, the revenue figures shown represent gross revenue (before platform deduction). Sensor Tower’s downloads figures are derived from estimated downloads on the App Store and Google Play, excluding pre-installs, duplicate downloads, and downloads from third-party Android app-store. Google Play is not available in Mainland China.

– All Rights Reserved10Sensor Tower’s Pathmatics empowers you to uncover insights into the digital advertising ecosystem, minimize ineffective ad spend, and enhance the precision of your advertising campaigns. With Pathmatics, you gain visibility into the digital advertising landscapes across markets including the United States, Australia, Brazil, Canada, France, Germany, Italy, India, Japan, Mexico, New Zealand, Spain, South Korea, and the United Kingdom. Pathmatics provides comprehensive estimates on ad placements, spending, impressions, and share of voice (SOV), as well as in-depth analysis of brands’ advertising strategies on platforms like Facebook, Instagram, X (formerly Twitter), YouTube, and TikTok, across formats such as display banners, videos, mobile, and OTT. Pathmatics collects digital ad samples from the web and utilizes statistical sampling methods to estimate the impressions, cost-per-thousand impressions (CPM), and expenditure associated with each creative.Sensor Tower Data & MethodologyDigital Advertising Channels Supported by Pathmatics Across MarketsDesktop Display and VideoFacebook InstragramLINELinkedinMobile App Ad NetworksMobile Display and VideoOTTPinterestRedditSnapchatTikTokXYouTubeUnited States············Australia········Brazil······Canada··········France·······Germany··········India·····Italy······Japan······Mexico···New Zealand····South Korea····Spain·······United Kingdom···········

– All Rights Reserved11Macro Mobile Trends India’s App Market Outlook for 2026

– All Rights Reserved12India remains the world’s largest mobile market, generating around 25 billion downloads annually . Growth stabilized in 2025 as the market matured, with volumes expected to remain resilient and positive into 2026—supported by sustained usage, retention, and repeat engagement across essential, habit-forming apps.DownloadsMobile App Trends in India 2021 – 2026FIndia: The World’s Largest Mobile Market Enters a Value-Driven PhaseSource: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: Sensor Tower’s data is based on estimates from App Store and Google Play, excluding pre-installs, re-downloads, and third-party Android stores. Revenue is gross — inclusive of any percent taken by the app stores.$0M$300M$600M$900M$1,200M$1,500M202120222023202420252026F0B10B20B30B202120222023202420252026FGamesApplications (Non Games)Total IAP Revenue0B500B1000B1500B202120222023202420252026FWith scale firmly in place, India has entered a monetization-led phase. Annual IAP revenue surpassed $1 billion in 2025 and is projected to reach $1.25 billion by end of 2026 . Growth is increasingly driven by premium services, subscriptions, and higher-value users, with non-gaming apps accounting for a rising share of total consumer spend.Engagement reinforces this transition, with total annual time spent exceeding 1.3 trillion hours by 2026 . Non-gaming apps underpin this growth by embedding daily use across payments, commerce, communication, and services—IAP RevenueTotal Time Spent (Hours) $1.25B $1.04B $0.82B $0.65B $0.57B $0.52B 26.2B 25.5B 24.6B 25.9B 26.9B 27.4B 1300B 1230B 1130B 1010B 890B 800B

– All Rights Reserved13India’s mobile app downloads remain anchored by Utilities and Productivity , which account for over one-third of total installs in 2025. Media & Entertainment and Social Media continue to contribute meaningful volume, while Shopping , Jobs & Education , and Financial Services remain important to overall demand. This mix reflects a mature market where essential, everyday apps sustain scale as category breadth expands.Download growth is increasingly driven by faster-rising categories rather than the largest ones. Generative AI leads absolute growth, followed by Media & Entertainment , Jobs & Education , Food Delivery Services , and Social Discovery , highlighting rising demand for content, learning, and connection. Credit & Financial Services also continue to outpace the broader market, reinforcing India’s shift toward utility-led scale complemented by emerging use cases.India Top App Categories by Downloads Growth 2025 vs 2024 Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined, excluding pre-installs, re-downloads, and third-party Android stores. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.India Top App Categories by Downloads5.7 B-2%Truecaller1.5 B+20%Kuku TV1.4 B-17%Instagram751.4 M-10%Meesho647.7 M+39%Seekho609.3 M+22%Navi601.5 M+205%ChatGPT584 M+9%Astrotalk 531.6 M+45%FRND447 M-10%NoiseFitDownloadsYoY#1 App By Downloads Utilities and Productivity Media & Entertainment Social Media Shopping Jobs & Education Credit & Financial Services Generative AI Lifestyle & Services Social Discovery Health & Wellness 0B1.5B3B4.5B6B20252024+404 M+205%ChatGPT+246.5 M+20%Kuku TV+183.3 M+39%Seekho+169.6 M+72%Blinkit+164.3 M+45%FRND+108 M+22%Navi+90.1 M+32%DigiLocker+48.5 M+9%Astrotalk+45.7 M+34%Rapido+44.6 M+16%Kotak Bank: 811GrowthYoY#1 App By DownloadsGenerative AIMedia & EntertainmentJobs & EducationFood Delivery ServicesSocial DiscoveryCredit & Financial ServicesLaw & GovernmentLifestyle & ServicesCarpooling & RidesharingConsumer Banking0M125M250M375M500MGrowth in DownloadsWhich Categories are Driving Downloads Growth In India? Utility-led Downloads as Generative AI and Emerging Categories Drive Growth

– All Rights Reserved14India’s in-app purchase revenue remains concentrated in a small set of scaled categories. Utilities & Productivity leads in 2025, driven by subscription-led services such as cloud storage, while Media & Entertainment and Social Media continue to monetize content consumption at scale. Together, these categories anchor India’s paid app economy.At the same time, monetization models are broadening across emerging subgenres. Generative AI delivers outsized IAP growth from a smaller base, while Shopping stands out as platforms increasingly sell premium memberships and content via in-app subscriptions. Amazon ’s use of IAP to distribute bundled benefits and content subscriptions highlights how commerce apps are converting scale into recurring revenue.India Top App Categories by IAP Revenue Growth 2025 vs 2024 Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. Revenue is gross — inclusive of any percent taken by the app stores. Apps classified using Sensor Tower’s taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.India Top App Categories by IAP RevenueWhich Categories Drive Revenue in India—and Where Is Growth Accelerating? Utilities and Media Anchor Revenue as Growth Diversifies Utilities and Productivity Media & Entertainment Social Media Dating Generative AI Social Discovery Jobs & Education Health & Wellness Lifestyle & Services Shopping $0M$125M$250M20252024$200.2 M+53%Google One$122.6 M+43%Sony LIV$84.4 M+30%YouTube$55.6 M-1%Bumble $48.4 M+242%ChatGPT$35.7 M-30%ChillChat $34.5 M+15%LinkedIn$16.1 M+21%Dancefitme$13.5 M+33%FlashGet Kids$13.4 M+358%Amazon ShoppingIAP RevenueYoY#1 App By RevenueUtilities and ProductivityMedia & EntertainmentGenerative AISocial MediaShoppingJobs & EducationLifestyle & ServicesHealth & WellnessSports EntertainmentConsumer Finance$0M$35M$70MGrowth in IAP Revenue+$69.4 M+53%Google One+$36.7 M+43%Sony LIV+$34.3 M+242%ChatGPT+$19.6 M+30%YouTube+$10.5 M+358%Amazon Shopping+$4.6 M+15%LinkedIn+$3.4 M+33%FlashGet+$2.8 M+21%Dancefitme+$2 M+85%FanCode+$1.1 M+16%TradingViewGrowthYoY#1 App By Revenue

– All Rights Reserved15India’s total mobile time spent remains concentrated in Social Media and Utilities & Productivity, reflecting deeply embedded daily usage. Messaging, search, and core utility apps continue to command the largest share of attention, reinforcing their role as the foundation of India’s mobile engagement.Growth, however, is coming from newer behaviors. Generative AI shows the fastest time-spent expansion, while Media & Entertainment , Travel , Food Delivery , and Mobility apps benefit as users deepen usage around convenience, content, and on-demand services. Together, these categories are extending engagement beyond communication into lifestyle and task-driven use cases.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.Which Categories Drive Engagement? Generative AI, Food Delivery, and Rideshare Gain Momentum in IndiaIndia Top App Categories by Time Spent Growth 2025 vs 2024 India Top App Categories by Total Time Spent Social Media Utilities and Productivity 0B450B900B20252024 Media & Entertainment Travel & Tourism Shopping Generative AI Digital Wallets & P2P Payments Jobs & Education Investing & Financial Management Lifestyle & Services Food Delivery Services 0B25B50B879.5 B+10%WhatsApp Messenger173.4 B+4%GoogleHoursYoY#1 App By MAU41.2 B+11%JioHotstar9.9 B+9%Google Maps9 B-5%Flipkart6.1 B+423%ChatGPT6 B+4%PhonePe 4.6 B-1%LinkedIn1.7 B-13%Groww1.5 B+19%Astrotalk1.4 B+56%SwiggySocial MediaUtilities and Productivity0B40B80BGrowth in Time Spent (Hours)Generative AIMedia & EntertainmentTravel & TourismFood Delivery ServicesCarpooling & RidesharingDigital Wallets & P2P PaymentsLifestyle & ServicesSocial DiscoveryCredit & Financial Services0B2.5B5B+78.3 B+10%WhatsApp Messenger+7.3 B+4%GoogleGrowthYoY#1 App By MAU+4.9 B+423%ChatGPT+3.9 B+11%JioHotstar+832.7 M+9%Google Maps+511.1 M+56%Swiggy+312.9 M+41%Rapido+243.8 M+4%PhonePe+234.9 M+19%Astrotalk +164.9 M+16%FRND+164 M+35%Bajaj Finserv

– All Rights Reserved16Across India’s app ecosystem, usage remains male -skewed in most categories, with the imbalance most pronounced in Dating, Travel & Tourism, Generative AI, and Media & Entertainment , where men account for roughly 70–80% of users . Shopping is the closest to gender parity, while Jobs & Education and Social Media show comparatively higher female participation —reflecting broader, utility-driven and everyday engagement patterns.India gender group percentage By Category Q4 2025 Age splits reinforce India’s youth-led app economy. The 18–24 and 25–34 cohorts dominate across nearly all categories, particularly in Dating and Generative AI , which skew heavily under-35. By contrast, Financial Services, Travel, and Utilities attract a relatively older mix, with a larger share of users aged 35–44 and above — highlighting how life stage, income, and use-case maturity increasingly shape category adoption.India age group percentage By Category Q4 2025 Who Uses Mobile Apps? India’s App Audiences Skew Young and Male— Source: Sensor Tower Audience Insights. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape. Gender represented as Male and Female only and is not representative of all gender identities.0%25%50%75%100%ShoppingJobs & EducationSocial MediaFinancial ServicesFood & DiningUtilities and ProductivityMedia & EntertainmentGenerative AITravel & TourismDating & Social DiscoveryMaleFemaleGenerative AIDating & Social DiscoveryMedia & EntertainmentFood & DiningSocial MediaJobs & EducationTravel & TourismShoppingFinancial ServicesUtilities and Productivity0%25%50%75%100%18–2425–3435–4445–5455+ 20% 27% 28% 29% 30% 32% 32% 32% 41% 43% 80% 73% 72% 71% 67% 68% 68% 68% 59% 57% 2% 1% 1% 1% 1% 1% 1% 1% 1% 1% 7% 6% 6% 6% 6% 6% 5% 5% 4% 5% 22% 23% 23% 23% 23% 21% 22% 21% 20% 19% 39% 43% 41% 43% 42% 40% 40% 43% 51% 39% 30% 27% 29% 28% 29% 31% 32% 30% 24% 37%

– All Rights Reserved17Top Rankings India’s Leading Apps in 2025

– All Rights ReservedDownloads Growth1ChatGPTAI Assistant482Kuku TVShort Drama4373SeekhoProfessional Development224Story TVShort Drama5PerplexityAI Assistant6BlinkitGrocery Delivery417JioHotstarOTT Streaming88Google GeminiAI Assistant459InstamartGrocery Delivery10QuickTV Short Drama11AadhaarFaceRD2FA & Passwords9412mAst LiteVideo Editing26813NaviFinancial Services4614EditsVideo Editing15bigbasketGrocery Delivery581InstagramSocial Media2ChatGPTAI Assistant483Kuku TVShort Drama4374MeeshoShopping25JioHotstarOTT Streaming86FacebookSocial Media37SeekhoProfessional Development228PhonePeDigital Wallets & P2P Payments39WhatsAppSocial Messaging510FlipkartShopping311SnapchatSocial Media212TruecallerCalling & SMS413BlinkitGrocery Delivery4114Google GeminiAI Assistant4515Airtel ThanksTelecom318India’s 2025 Breakout Apps Highlight New Growth Engines Across Content, Commerce, and LearningIndia’s most downloaded apps in 2025 show where user momentum is forming next. Established social platforms still underpin reach, but growth is increasingly coming from AI tools, short-form video, quick commerce, financial services and practical learning apps built around clear, repeatable use cases. Short-drama platforms such as Kuku TV and Story TV reflect rising demand for episodic, mobile-native viewing. Alongside apps like ChatGPT , Seekho , and Instamart , adoption is being driven by immediacy and utility—signaling a shi ! toward apps that solve specific needs quickly rather than maximize passive browsing time.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined, excluding pre-installs, re-downloads, and third-party Android stores. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.2025 India Top 15 Mobile Apps by Downloads Unified • Jan 1, 2025 – December 31, 2025 vs PreviousDownloadsvs Previous

– All Rights Reserved19India’s Top Revenue Apps Show Monetization Shifting Toward Subscriptions and Premium ServicesIndia’s top-grossing apps in 2025 highlight a clear shi ! toward paid, subscription-driven models. Utilities and productivity services—led by Google One and ChatGPT — anchor the revenue rankings, while platforms such as LinkedIn , YouTube , and Sony LIV demonstrate sustained willingness to pay for professional tools, premium content, and enhanced digital experiences. Revenue growth, meanwhile, is being driven by habit-forming platforms that convert scale into recurring spend. Subscription-led apps like ChatGPT and Amazon Prime Video continue to accelerate paid adoption, while OTT and short-drama platforms—including DramaBox and Dramawave — underscore how mobile-first entertainment is translating engagement into repeat monetization.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. Revenue is gross — inclusive of any percent taken by the app stores. Apps classified using Sensor Tower’s taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.2025 India Top 15 Mobile Apps by Revenue Unified • Jan 1, 2025 – December 31, 2025 1Google OneCloud Storage2ChatGPTAI Assistant93LinkedInJobs & Education14YouTubeSocial Media15Sony LIVOTT Streaming26FacebookSocial Media97Amazon ShoppingShopping238Amazon Prime VideoOTT Streaming219JioHotstarOTT Streaming310InstagramSocial Media111Bumble Dating712TruecallerCalling & SMS213TinderDating514CanvaPoster & Card Design215GmailEmail2vs PreviousRevenue1Google OneCloud Storage2ChatGPTAI Assistant93Amazon ShoppingShopping234FacebookSocial Media95Amazon Prime VideoOTT Streaming216Sony LIVOTT Streaming27YouTubeSocial Media18SnapchatSocial Media69InstagramSocial Media110GmailEmail211WePlaySocial Media1412DramaBoxShort Drama213TeraBoxCloud Storage1114DramawaveShort Drama33215Hinge Dating AppDating2vs PreviousRevenue Growth

– All Rights Reserved20India 2025: Utility-Led Platforms Anchor Scale as OTT and AI Drive GrowthIndia’s active user base in 2025 remains anchored by communication and utility apps that sit at the core of daily mobile behavior. WhatsApp , YouTube , Instagram , Facebook , Telegram , and PhonePe continue to rank among the largest apps by MAU, reflecting their role in messaging, content consumption, and everyday transactions at national scale. User growth, by contrast, is being shaped by how o !en apps fit into daily routines. Entertainment platforms like JioHotstar sustain usage through live sports and regional exclusives, while AI assistants such as ChatGPT are becoming everyday productivity companions. These behaviors underscore how frequency and utility—not installs alone—are driving engagement gains.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.2025 India Top 15 Mobile Apps by Active Users Unified • Jan 1, 2025 – December 31, 2025 1GoogleBrowsers2WhatsApp MessengerSocial Messaging3Google ChromeBrowsers4YouTubeSocial Media5GmailEmail6Google MapsNavigation & Maps7Google MessagesCalling & SMS28InstagramSocial Media19FacebookSocial Media110Google CalendarCalendars & Tasks11TelegramSocial Messaging112PhonePe Digital Wallets & P2P Payments113TruecallerCalling & SMS14JioHotstarOTT Streaming415Digital WellbeingUtilities13vs PreviousMonthly Active Users1Digital WellbeingUtilities132JioHotstarOTT Streaming43Google MessagesCalling & SMS24ChatGPTAI Assistant735GoogleBrowsers6Samsung One UI HomeUtilities97Google GeminiAI Assistant388WhatsApp MessengerSocial Messaging9Google ChromeBrowsers10Google CalendarCalendars & Tasks11YouTubeSocial Media12InstagramSocial Media113Gmail Email14TelegramSocial Messaging115Google PhotosPhoto Galleries1vs PreviousMonthly Active Users Growth

– All Rights Reserved21Shopping Apps Digital Retail Expands Beyond Tier-1 Cities

– All Rights Reserved22India’s Shopping Apps: Engagement Strengthens as Consumer Behavior EvolvesDownloads across general shopping and e-commerce apps moderated further in 2025, declining modestly versus 2024 as acquisition cooled among broad, multi-category retail platforms. In contrast, Apparel and Beauty Retail proved more resilient, with both categories continuing to post positive growth—highlighting sustained demand for specialized, category-led shopping experiences. Engagement trends are increasingly polarized. While total time spent across general shopping apps declined slightly versus 2024, Beauty Retail continued to grow, supported by deeper adoption across Tier-2 and Tier-3 cities, even as broad e-commerce platforms saw sharper pullbacks. This divergence signals a shi ! toward fewer, more specialized apps with higher-intent usage, strengthening long-term foundations for monetization and customer value.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.0B0.5B1B1.5B2022202320242025Shopping (General)ApparelBeauty RetailShopping Apps Downloads Trend in India 2022-20250B4B8B12B2022202320242025-8%-3%-5%YoY Growth+17%+16%-5%0M20M40M60M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q40M150M300M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q4Shopping Apps Total Time Spent Trend in India (Hours) 2022-2025-10%+5%+3%YoY Growth-8%0M140M280M+14%0B1.5B3B-5%

– All Rights ReservedApparel and Beauty Retail Emerge as Key Growth Drivers in India’s Shopping AppsIndia’s core shopping apps remain largely stable, reflecting a mature, highly competitive market where incumbents such as Meesho , Flipkart , and Amazon continue to defend scale through pricing, assortment breadth, and logistics rather than rapid user expansion. Momentum, however, is increasingly concentrated in Apparel and Beauty, where consumer behavior favors higher-intent, specialized experiences. Fashion platforms like Myntra and AJIO remain anchors, while international and niche players gain traction. In Beauty, apps led by Nykaa and Purplle —alongside fast-rising challengers such as Pilgrim , Innovist , and Kult —highlight growing demand for brand-led discovery, sampling, and repeat purchasing, extending engagement beyond general retail.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.23Top Shopping Apps By Downloads in India Unified • Jan 1, 2025 – December 31, 2025 1Meesho2Flipkart3Amazon14Shopsy15JioMart Online66Snapdeal7OLX India28POP179CityMall10FirstCry3vs PreviousShopping (General)1Myntra – Fashion Shopping App2AJIO Online Shopping App3Nykaa Fashion – Shopping App4SHEIN5Savana – UK Fashion6Lenskart : Eyeglasses & More27LimeRoad: Online Fashion Shop18H&M9Bewakoof – Online Shopping App310Pantaloons-Online Shopping App41Nykaa – Beauty Shopping App12Purplle Online Beauty Shopping13Tira: Online Beauty Shopping4Smytten-Try Samples & Shop15Mamaearth: Beauty Skincare App16My Forever India7Pilgrim India48Innovist: Hair, Skin, Sun Care179Vilvah Store Skin & Hair Care310Kult – Makeup/Beauty Shopping7ApparelBeauty Retailvs Previousvs Previous

– All Rights ReservedTier-2 and Tier-3 Cities Power the Next Phase of Beauty and Fashion GrowthBeauty and fashion apps are increasingly drawing growth from Tier-2 and Tier-3 cities, where adoption is accelerating faster than in India’s largest metros. For several leading platforms, regional users now account for over one-third of total active users—signaling a structural shi ! in where engagement and scale are being built. This shi ! is especially pronounced among beauty-led players. Purplle stands out with one of the stronger Tier-2/3 skews in the category, translating into outsized regional growth. Cities such as Kochi , Kozhikode , and Patna are emerging as key demand centers, highlighting how localized assortments, value positioning, and regional marketing are redefining the growth playbook for fashion and beauty apps in India.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined.24Share of Tier 2-3 Metros Total Active Users Among Key India Shopping Apps December 2025, MAU Growth 2025 vs 2023 Top Metros Among Key Shopping Apps MAU Growth 2025 vs 2023MeeshoPurplleFlipkartJioMart OnlineMyntra – FashionNykaa – BeautyTiraTier 1 1Delhi-NCRDelhi-NCRDelhi-NCRDelhi-NCRDelhi-NCRDelhi-NCRDelhi-NCR+97%+122%+30%+23%+51%+50%+96%2KolkataKolkataKolkataMumbaiMumbaiMumbaiMumbai+91%+60%+17%-1%+38%+99%+33%3MumbaiChennaiMumbaiKolkataKolkataKolkataKolkata+93%+135%+33%+45%+43%+89%+128%Tier 2- 31PatnaKochiPatnaPatnaPatnaPatnaDehradun+66%+185%+23%+69%+60%+180%+226%2LucknowKozhikodeLucknowBhubaneswarLucknowLucknowLucknow+47%+111%+1%+45%+77%+177%+160%3JaipurPatnaJaipurJaipurJaipurJaipurPatna+70%+123%+13%+41%+53%+149%+201%0%10%20%30%40%50%+67%+112%+25%+41%+71%+122%+102% 30.8% 31.6% 32.9% 36.4% 37.6% 38.0% 38.6%

– All Rights Reserved25Purplle’s MAU growth is being driven by Kochi and Kozhikode , where user expansion now outpaces several larger metros. This highlights rising beauty adoption in Tier-2 cities that are often overlooked in national expansion strategies.From Metros to Heartland: Purplle’s Tier-2 and Tier-3 Beauty PlaybookPurplle is a digital-first beauty platform built around curated discovery, accessible price points, and regional relevance—positioning it well to capture beauty demand beyond India’s largest metros. Purplle’s recent growth highlights a deliberate shift toward Tier-2 and Tier-3 cities, where regional adoption, state-wide advertising, and localized messaging are driving stronger user expansion than in several major metros.This usage growth is supported by a clear increase in advertising activity across the entire state of Kerala , rather than a narrow city-led strategy. By broadening spend beyond top metros, Purplle has strengthened brand visibility and sustained acquisition across multiple regional markets simultaneously.Purplle’s campaigns in Kerala lean heavily into localized creatives, using regional language, cultural cues, and everyday beauty use cases. This localization has helped improve relevance and engagement, reinforcing Purplle’s ability to convert regional awareness into active, repeat users.Source: Sensor Tower Mobile App Insights, Pathmatics Digital Advertising Insights as of January 15, 2026.Creative Gallery for Purplle India

– All Rights ReservedIndia’s Black Friday Moment Is Taking Shape—And Snitch Shows What’s PossibleSnitch is a digital-first men’s fashion brand in India, known for trend-led collections, fast drops, and a strong app-centric commerce strategy that blends performance marketing with localized fulfillment. Snitch ’s 2025 Black Friday campaign became a breakout moment, delivering the app’s highest-ever daily active users and a significant MAU spike. The performance signals a shi ! in India’s retail landscape, where global deal-driven moments are increasingly e ffective when paired with strong merchandising and app-first execution. Growth extended beyond the event as weekly active users climbed following the rollout of Snitch’s 60-minute delivery service in Bengaluru. The outsized city-level impact highlights how fast, localized fulfillment can materially li ! engagement and convert short-term demand spikes into sustained usage.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. 26SNITCH Black Friday 2025 Event Impact on Active Users and Downloads November 2025 SNITCH 60 Minute Delivery Rollout Impact on Active Users November 2025

– All Rights ReservedMatching Payments to Shoppers: Why Partner Fit Matters More Than DiscountsPayment partnerships are increasingly central to conversion, but e ffectiveness depends on audience fit. Nykaa ’s ICICI Bank tie-ups and AJIO ’s SBI card o ffers deliver scale and trust, yet their bank partners skew older and more traditional than the apps’ core shoppers—and user expectations. Leading shopping apps in India now over-index toward under-25 users, especially in beauty and fashion. In contrast, emerging payment wallets such as FamApp , POP , and SuperMoney attract younger, high-engagement audiences. Aligning with these platforms can better match shopper profiles, improving relevance, frequency, and checkout conversion.Source: Sensor Tower Mobile App Insights as of January 15, 2026. 27Share of Age Group Among Major India Shopping Apps Q4 2025 Share of Age Group Among Emerging India Digital Wallet & Payment Apps Q4 2025 Share of Age Group Among Partner Payments Brands In Select India Shopping Apps Q4 2025

– All Rights Reserved28Food Delivery & Quick Commerce Speed, Frequency, and Urban Habit Formation

– All Rights Reserved29India’s quick commerce landscape was shaped first by early digital grocery pioneers such as BigBasket and Grofers (rebranded as Blinkit in 2021), which built trust and habitual ordering for daily essentials. Though not designed for ultra-fast delivery, these platforms established the reliability and usage patterns that later enabled frequent, on-demand grocery consumption. The category’s inflection point came with the emergence of Zepto , which redefined consumer expectations by scaling a 10-minute delivery-first model. This speed-led disruption rapidly accelerated adoption and forced incumbents to respond. Food delivery platforms soon converged on the space, with Zomato’ Blinkit and Swiggy’s launch of Instamart , both leveraging existing logistics networks and high-frequency users to compete directly in instant delivery. Today, quick commerce has evolved into a tightly contested arena where native players and food delivery incumbents compete head-to-head for the same everyday consumption moments.Source: Sensor Tower Mobile App InsightsIndia’s Quick Commerce Race: From Early Disruptors to Platform ConvergencebigbasketCountry DelightBlinkitZeptoSwiggyInstacart

– All Rights ReservedQuick Commerce and Food Delivery Becomes India’s Mobile-First Growth EngineFood delivery apps surpassed 530 million downloads in 2025, evolving from convenience-led services into core, habit-driven platforms. As quick commerce and food delivery platforms increasingly converge and compete, food delivery has strengthened its position as a mobile-first growth engine, anchored in everyday consumption. Engagement reached nearly 2 billion hours in 2025 , up 55% year over year, reinforcing food delivery apps as high-frequency destinations. Their scale and intent-rich usage have made them essential marketing partners, enabling brands to reach consumers at moments of discovery, purchase, and repeat engagement.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.Food & Dining Services Apps Downloads Trends in India 2022-2025Food & Dining Apps Total Time Spent Trends in India (Hours) 2022-20250M200M400M600M2022202320242025Food Delivery ServicesFood & Dining Services (General)0M40M80M120M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q4-11%+72%+24%YoY Growth+40%+55%0B1B2B20222023202420250M100M200M300M400M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q4-1%YoY Growth+17%+30%+37%+55%30

– All Rights ReservedQuick Commerce Secures Scale While Restaurant Brands Drive Habitual UseIndia’s Food Delivery rankings in 2025 highlight an increasingly competitive quick commerce landscape. Blinkit lead the category by downloads, with Zepto , Instamart , and BigBasket close behind. The sustained momentum of 10-minute delivery reflects how speed and convenience have become core expectations, driving frequent, utility-led usage across urban consumers. In contrast, fast food and casual dining remain firmly brand-led. Platforms such as Zomato provide scale, but restaurant brands including Domino’s , KFC , McDonald’s , and Burger King continue to dominate engagement through their own apps. These brands benefit from strong recall, loyalty programs, and repeat purchase behavior, reinforcing habitual use beyond logistics-driven competition.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.31Top Food & Dining Apps By Downloads in India Unified • Jan 1, 2025 – December 31, 2025 1Blinkit: Groceries & more22Zepto: Groceries in minutes13Instamart: Groceries & more4bigbasket: 10 min Grocery App5Swiggy: Food Instamart Dineout36Mera Ration 2.017Swiggy Delivery Partner App8magicpin:Food|Fashion|Delivery29DealShare: Online Grocery App310Country Delight: Milk Delivery4vs PreviousFood Delivery1Zomato2Domino’s Pizza – Food Delivery3KFC4BURGER KING App25Pizza Hut16McDonald’s17McDelivery8Licious: Chicken, Meat & More19La Pino’z – Order Pizza Online110EazyDiner: Eatout & Save1Food & Dining Services (General)

– All Rights Reserved320%10%20%30%JulyAugustSeptemberOctoberNovemberDecember0M10M20MJulyAugustSeptemberOctoberNovemberDecemberInstamart MAU Growth July to December 2025 Share of Zepto Users Using Instamart July to 2025 Instamart sustained steady MAU growth in the second half of 2025 by running a dense calendar of activation moments, spanning promotional sales, festive campaigns, and the “No Fee November” free-delivery push. Rather than relying on one-o ff spikes, these frequent events kept users returning month a !er month, li !ing active usage from July through December. This engagement strategy also translated into competitive share gains. As Instamart increased usage frequency, overlap with Zepto’s user base rose meaningfully—from around 15% in July to roughly 25% by December. The rising cross-usage highlights how retention-led tactics are enabling Instamart to pull demand from rival quick-commerce platforms, reinforcing the shi ! from pure acquisition toward share capture and habitual use.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. Instamart Accelerates Retention Through Event-Led Engagement 25.08% 24.13% 21.73% 19.34% 18.04% 15.96%

– All Rights Reserved33Following a year as one of the largest advertisers in quick commerce, Zepto intentionally pulled back on aggressive acquisition in 2025. As a result, its download momentum softened relative to peers like Blinkit , Instamart , Swiggy , and BigBasket —but this was a strategic tradeoff, not a loss of relevance. Zepto Shifts From Scale to Stickiness—And Wins the Retention Game Zepto, one of India’s fastest-growing quick commerce players, built its early lead through aggressive acquisition and ultra-fast delivery. In 2025, the company pivoted from scale to stickiness—prioritizing retention, reliability, and everyday value over raw download growth.To drive stickiness, Zepto expanded beyond groceries into high-frequency lifestyle categories. Partnerships with brands like Decathlon and Libas extend 10-minute delivery into sporting goods and fashion across 50+ cities—reframing quick commerce as a channel for immediacy, discovery, and everyday lifestyle needs, not just essentials.The payoff is clear in engagement. Despite fewer new installs, Zepto clearly outperforms the category on D1–D60 retention, maintaining a significantly higher share of returning users than the average of its closest competitors. This gap highlights how value-led improvements—speed, consistency, and everyday utility—are driving deeper engagement Zepto D1 to D60 Retention vs. Top 5 Quick Commerce Apps December 2025 Zepto Average of Next Top 4 AppsBlinkit Instamart SwiggybigBasket Zepto Download Trends Top 5 Quick Commerce Apps India, 2024 – 2025 Source: Sensor Tower App Performance Insights as of January 15, 2026. Notes: Sensor Tower’s data is based on estimates from App Store and Google Play, excluding pre-installs, re-downloads, and third-party Android stores Creative Gallery for Zepto

– All Rights Reserved34Financial Services Mobile-First Growth Across Investing, Credit, and Banking

– All Rights Reserved35India’s digital finance ecosystem has shi !ed away from bank-led platforms toward mobile-first fintechs. As cashless payments became mainstream, UPI adoption concentrated around non-bank apps—led by PhonePe , followed by Paytm and Google Pay —pushing banks out of the primary engagement layer. This shi ! is clearest across sub-segments. Groww leads investments with no major bank in among the top category ranks, while Bajaj Finserv dominates digital lending. Despite UI overhauls, banks are still used mainly for core utilities, underscoring a structural handover of discovery, frequency, and engagement to mobile-native platforms.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.India’s Financial Apps Have Gone Mobile-First —Banks Are No Longer the Default Gateway 20162017201820192020202120222023202420251Paytm: Secure UPI PaymentsPaytm: Secure UPI PaymentsGoogle PayGoogle PayGoogle PayPhonePe UPI, Payment, RechargePhonePe UPI, Payment, RechargePhonePe UPI, Payment, RechargePhonePe UPI, Payment, RechargePhonePe UPI, Payment, Recharge2True Balance-Personal Loan,UPIGoogle PayPaytm: Secure UPI PaymentsPhonePe UPI, Payment, RechargePhonePe UPI, Payment, RechargeGoogle PayPaytm: Secure UPI PaymentsPaytm: Secure UPI PaymentsGoogle PayNavi: UPI, Insurance & Loans3Freecharge UPI & Bill PaymentsPhonePe UPI, Payment, RechargePhonePe UPI, Payment, RechargePaytm: Secure UPI PaymentsPaytm: Secure UPI PaymentsPaytm: Secure UPI PaymentsGoogle PayGoogle PayPaytm: Secure UPI PaymentsPaytm: Secure UPI Payments4MobiKwik: BHIM UPI & WalletBHIM Bharat’s Own Payments AppBHIM Bharat’s Own Payments AppLoan Online Personal Loan App – CashBeanYONO SBI: Banking & LifestyleYONO SBI: Banking & LifestyleBajaj Finserv: Loans, UPI & FDBajaj Finserv: Loans, UPI & FDBajaj Finserv: Loans, UPI & FDGoogle Pay5Yono Lite SBI – Mobile BankingTrue Balance-Personal Loan,UPIYONO SBI: Banking & LifestyleYONO SBI: Banking & LifestyleDhani: UPI, Cards & BillsDhani: UPI, Cards & BillsYONO SBI: Banking & LifestyleNavi: UPI, Insurance & LoansGrowwBajaj Finserv: Loans, UPI & FD6PhonePe UPI, Payment, RechargeYono Lite SBI – Mobile BankingDhani: UPI, Cards & BillsKreditBee: Personal Loan AppGoogle Pay for BusinessUpstox Old – Stocks, MF & IPOsbob World:Banking & ExperienceYONO SBI: Banking & LifestyleBHIM Bharat’s Own Payments AppKotak Bank: 811 Mobile App7axio: Expense Tracker & BudgetMobiKwik: BHIM UPI & WalletYono Lite SBI – Mobile BankingBHIM Bharat’s Own Payments AppBHIM Bharat’s Own Payments AppGrowwKreditBee: Personal Loan AppGrowwYONO SBI: Banking & Lifestylesuper.money – UPI by Flipkart8Money View मनी मैनेजरKotak Bank (Old)Bajaj Finserv WalletBajaj Finserv WalletLoan Online Personal Loan App – CashBeanCoinSwitch: Buy Bitcoin CryptoGrowwAngel One: Stocks, Mutual FundAngel One: Stocks, Mutual FundGroww9iMobile: Loan, Cards & BankingFreecharge UPI & Bill PaymentsPaytm for BusinessDhani: UPI, Cards & BillsYono Lite SBI – Mobile BankingBajaj Finserv: Loans, UPI & FDNavi: UPI, Insurance & LoansKreditBee: Personal Loan AppNavi: UPI, Insurance & LoansYONO SBI: Banking & Lifestyle10HDFC Bank MobileBanking AppHDFC Bank MobileBanking AppHDFC Bank MobileBanking AppYono Lite SBI – Mobile BankingBajaj Finserv WalletCRED: UPI, Credit Cards, BillsKotak Bank (Old)Moneyview: UPI, Personal LoansKreditBee: Personal Loan AppIPPB Mobile BankingTop Finance Apps By Downloads in India Unified • 2016 – 2025

– All Rights ReservedIndia’s Finances Apps Shift From Wallet-Led Scale to Deeper Financial Engagement Financial services app downloads in India continued to grow in 2025, but at a moderating pace versus earlier years. Growth has increasingly shifted away from Digital Wallets & P2P Payments, which saw softer momentum, toward Credit & Financial Services and Consumer Banking, reflecting rising demand for lending, credit access, and full-service mobile banking. Engagement growth has outpaced acquisition. Total time spent across financial apps increased sharply, led by Digital Wallets and Investing & Financial Management, as users expand from transactional payments into savings, investments, and credit management. This divergence signals a structural transition from single-purpose wallets to higher-frequency, multi-product financial behavior anchored in mobile-first platforms.Source: Sensor Tower Mobile App Insights as of January 15, 2026. Notes: iOS and Google Play combined. App categories are defined by Sensor Tower’s App IQ Taxonomy, which includes custom-tailored groupings to reflect the dynamic market landscape.Financial Services Apps Downloads Trends in India 2022-2025Financial Services Apps Total Time Spent Trends in India (Hours) 2022-2025360B2B4B6B8B10B20222023202420250B1B2B+31%+2%+35%YoY Growth0M100M200M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q4+35%+1%+7%+4%-13%0B0.5B1B1.5B2B2022202320242025Credit & Financial ServicesDigital Wallets & P2P PaymentsConsumer BankingInvesting & Financial ManagementOthers0M60M120M180M2022 Q12022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42024 Q12024 Q22024 Q32024 Q42025 Q12025 Q22025 Q32025 Q4-1%+10%+3%+21%+16%+1%-12%YoY Growth-22%

– All Rights Reserved371PhonePe UPI, Payment, Recharge2Paytm: Secure UPI Payments13Google Pay14super.money – UPI by Flipkart55BHIM Bharat’s Own Payments App16FamApp by Trio: UPI & Card17MobiKwik: BHIM UPI & Wallet28CRED: UPI, Credit Cards, Bills9PayZapp UPI Wallet, Pixel Card310BharatPe UPI Payment, Loan App14vs Previous1super.money – UPI by Flipkart52FamApp by Trio: UPI & Card13BharatPe UPI Payment, Loan App144bob इ Pay 45eRupee by SBI186Kredit.Pe: Get Cashback on UPI817SDPay – Discover, Buy, Earn638Recharge Raahi9Google Wallet210AnnapurnaPay255Top Digital Wallets & P2P Payment Apps By Downloads in India Unified • Jan 1, 2025 – December 31, 2025 DownloadsDownloads GrowthIndia’s UPI app landscape in 2025 remains anchored by incumbents such as PhonePe , Paytm , and Google Pay, which continue to dominate downloads and defend scale through ubiquity and trust. Rank movement among leading wallets remains limited, reflecting a mature payments market where penetration is high and switching costs are low. Downloads growth, however, is being driven by newer, incentive-led and specialized players. Apps such as super.money , FamApp , and BharatPe are gaining traction by layering rewards, credit, and value-added services on top of UPI payments, while long-tail entrants show sharp rank gains off smaller bases. Source: Sensor Tower Mobile App Insights as of Januar