According to IMARC Group’s latest report, titled “GCC Mobile Banking Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the GCC mobile banking market share.
The GCC mobile banking market is expected to exhibit a CAGR of 14.2% during 2022-2027. Mobile banking assists in conducting financial transactions remotely through smart devices. It also offers additional services, such as customer support, accounting information and bill payments. As compared to other modes of transactions, mobile banking is a secure and convenient payment solution. Consequently, it is gaining immense traction across the GCC region.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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GCC Mobile Banking Market Trends:
- Increasing internet penetration, in confluence with the boosting sales of devices, represents one of the key factors stimulating the growth of the market in the GCC region.
- The burgeoning banking, financial services and insurance (BFSI) sector is resulting in the escalating demand for prompt financial transaction services.
- This, coupled with the introduction of instant and real-time customer assistance to promote self-service among different banking operations, is strengthening the market growth in the region.
- The governing authorities are undertaking various initiatives to encourage mobile banking services. This is also aiding in tracking financial transactions and reducing the risks of money laundering across the region.
Competitive Landscape With Key Players:
The competitive landscape of the GCC mobile banking market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Abu Dhabi Islamic Bank
- Al Baraka Banking Group B.S.C.
- Al Rajhi Banking and Investment Corporation
- Alinma Bank
- Bank Albilad
- Bank AlJazira
- Bank Dhofar SAOG
- Dubai Islamic Bank
- Kuwait Finance House
- Mashreqbank PSC
- Masraf Al Rayan (Q.P.S.C)
- Qatar Islamic Bank (Q.P.S.C.)
Key Market Segmentation:
The report has segmented the GCC mobile banking market on the basis of type, service, platform, deployment, end user and country.
Breakup by Type:
- Wireless Application Protocol (WAP)
- Standalone Mobile Application
- SMS Banking
- Unstructured Supplementary Service Data (USSD)
- Others
Breakup by Service:
- Transactions
- Customer to Customer
- Customer to Business
- Account information
- Investments
- Support Services
- Others
Breakup by Platform:
- Android
- IOS
- Others
Breakup by Deployment:
- On-cloud
- On-premise
Breakup by End User:
- Individual
- Enterprise
Breakup by Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Oman
- Kuwait
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/gcc-mobile-banking-market
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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