Indian Mutual Funds Market Sees 31.8% Growth in Online Searches: Report

The latest Search Trends Report on India’s mutual funds market for FY 2025 reveals key insights into evolving customer behavior and search trends. The findings, backed by advanced analytics and nearly two decades of industry expertise, highlight opportunities for brands to strengthen their digital presence in this competitive sector.

Techmagnate, an SEO-first Digital Marketing Agency has released findings of its proprietary Search Trends Report on India’s Mutual Funds market for FY ‘25. 

Using advanced analytics and almost two decades of expertise, the agency investigates how searches and customer behaviour in Mutual Funds across India are evolving, which corresponding brands can then use to establish a dominant digital presence. 

To create its latest report, Techmagnate analyzed more than 17000 keywords spanning several key search categories – branded and non-branded keywords, types of queries, search volumes, and many more – in order to identify real opportunities for growth. 

The research has been conducted for FY’25 using Google’s Keyword Planner. The data reflects Pan-India search volumes only, except where city-level data has been showcased. Additionally, search volumes on Google Web Search for app-related keywords have been taken into account. 

The report also includes a list of the top AMC players and downloaded apps that dominate the market and online searches, and hold the highest share of voice.

Sarvesh Bagla, Founder and CEO, Techmagnate says, “In today’s fast-paced financial services industry, understanding the dynamics of evolving customer behaviour is crucial for stakeholders, be it asset management companies, banks or third party aggregators. 

Our report is like a  digital tool for brands trying to make it in the world of mutual funds. I found it interesting that cities such as Lucknow, Jaipur and Indore are experiencing a considerable surge in search volumes.

Brands should recognize these changing trends and adjust their strategies to engage effectively with growing markets in big cities and up-and-coming urban areas”.

He further adds, “In today’s knowledge-driven world, Techmagnate’s report arms brands with the information needed to adapt and succeed. With each takeaway, a clear path forward emerges. Brands that apply these insights stand to thrive in the ever-changing landscape of mutual funds. 

By understanding what customers are looking for, they can make sure they’re on the right track in their digital marketing strategies. If they embrace these insights, brands can position themselves as leaders, earn the trust of investors and drive sustained growth”.

Key highlights from the Search Trends Report 

1. The total search volume for Mutual Funds has grown by 31.80% from FY'24 (226.65 L) to FY'25 (298.74 L), indicating a significant increase in interest or demand within the market.

2. The top three AMC players (HDFC Mutual Fund, SBI Mutual Fund, and ICICI Prudential Mutual Fund) have captured over 75% of the total search volume market share, signifying strong brand dominance. SBI Mutual Fund has achieved the highest yearly growth (31.30%) among the top five brands. Axis Mutual Fund is the only major brand to report a decline in search volume (-8.57%) signaling potential challenges from competition or with visibility.

3. The ‘Mutual Fund SIP’ keyword bucket dominates with a 58.64% market share indicating a sharp increase in consumer awareness. On the other hand, with a monthly search volume of 450k, ‘SWP Calculator’ has stood out as the top keyword customers are searching for.

4. As the most downloaded app, Groww exhibited the highest growth of 52.40%, as compared to Angel One, mStock, Zerodha Kite and INDmoney, indicating a substantial increase in user engagement. This surge in app downloads underscores a broader shift in user behavior towards mobile-centric platforms.
   
   The convenience, accessibility, and user-friendly interfaces offered by these apps seem to resonate with a growing audience. There’s a rise in the importance of adapting to this mobile-first trend in the financial services sector, where customers increasingly prefer the flexibility and on-the-go access provided by mutual fund apps.

5. Prominent metropolitan hubs like Delhi, Mumbai, and Bengaluru remain at the forefront of online searches, constituting a substantial portion of the search activity. Mumbai remains the top city by search volume, commanding the largest market share at 17.95L followed by Delhi and Bengaluru. Pune has grown the fastest among Tier-1 cities, with a 36.23% jump, while in Tier-2 cities, Lucknow and Bhopal registered the fastest growth at 38.46%, highlighting them as high-potential cities for expansion. 

6. The report highlights a significant shift in search behavior, where people are increasingly using  specific brand names as against non brands. The search volume for branded Mutual Fund apps has seen a 46.2% increase, showcasing this notable change. Customers are now more likely to directly search for specific brands like Groww, Angel One, mStock etc. This shift indicates a move towards focusing on individual brands.

7. Online platforms like ET Money, Mutual Funds Sahi Hai, Bajaj Finserv, ICICI and Angel One have emerged as the top five prominent influencers dominating Google search with the highest share of voice (SOV).