“GCC Mobile Payment Market: Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2021-2026” provides a deep and thorough evaluation of the GCC mobile payment market based on its segments including type, end use and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.
Report Metrics
Historical Year: 2015-2020
Base Year: 2020
Forecast Year: 2021-2025
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Mobile payment refers to the process of transferring funds using an internet connection and a smartphone. A code is generated during the transaction and sent manually by the user or over the air (OTA). As a result, mobile payment is more convenient, secure, and easy to use than traditional methods. At present, the increasing internet penetration and the rising sales of smartphones are catalyzing the demand for mobile payment services in this region.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
GCC Mobile Payment Industry Trends and Drivers:
The elevating adoption of contactless payment services, owing to the sudden outbreak of the coronavirus disease (COVID-19), is primarily driving the GCC mobile payment market. Additionally, with the growing number of expatriate workers, the demand for mobile payment is escalating as it saves costs and reduces the time for conducting cross-border payments. Furthermore, several companies are collaborating with various financial institutions to transfer salaries to their employees via mobile payment options. Besides this, the expanding e-commerce sector and the rising availability of biometric identification features for more security are anticipated to bolster the GCC mobile payment market over the forecasted period.
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- GCC Mobile Payment Market Segmentation:
The market is segmented in on the basis of type, end use and region.
- Type
- End use
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape:
The report also provides insights on the competitive landscape of the GCC mobile payment industry with the leading players profiled in the report.
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