In-Depth Analysis of the GCC P2P Payment Market: 2024-2030 Forecasts
MarkNtel Advisors has recently released an in-depth study on the GCC P2P Payment Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
How big is the Keyword Industry?
The India Spark & Glow Plugs Market size is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30.
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Who are the top players in the GCC P2P Payment Market?
- Paypal
- Apple Pay
- Venmo
- Cash App
- Google Pay
- Square Cash
- Zelle
- Noon Pay
- Mamo Pay
- Ziina Pay
- MoneyGram International, Inc.
- Beyon Money
- Others
GCC P2P Payment Market Segmentation:
By Transaction Mode
- Short Message Service (SMS)- Market Size & Forecast 2019-2030, (USD Million)
- Mobile Apps- Market Size & Forecast 2019-2030, (USD Million)
- Smartcard/NFC (Near field communication)- Market Size & Forecast 2019-2030, (USD Million)
- Others (Bank Transfers, Digital Wallets, etc.)- Market Size & Forecast 2019-2030, (USD Million)
By Location
- Remote Payment- Market Size & Forecast 2019-2030, (USD Million)
- Proximity Payment- Market Size & Forecast 2019-2030, (USD Million)
By End User
- Retail & E-Commerce- Market Size & Forecast 2019-2030, (USD Million)
- Travel & Hospitality- Market Size & Forecast 2019-2030, (USD Million)
- Transportation & Logistics- Market Size & Forecast 2019-2030, (USD Million)
- BFSI- Market Size & Forecast 2019-2030, (USD Million)
- Healthcare- Market Size & Forecast 2019-2030, (USD Million)
- Others (IT & Telecom, Media & Entertainment, etc.)- Market Size & Forecast 2019-2030, (USD Million)
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Regional/ Countries Insight:
- Saudi Arabia
- The UAE
- Qatar
- Kuwait
- Oman
- Bahrain
What are the primary market drivers influencing the growth of GCC P2P Payment Market?
GCC P2P Payment Market Driver:
Prospering E-commerce Industry Driving the Rapid Development of Digital Payment in Gulf Countries – The surge in the e-commerce industry in GCC countries like the UAE, Saudi Arabia, Kuwait, Bahrain, etc., is fueling a significant transformation of the consumer experience and prompting the rise of digital payments. Several factors have contributed to the buoyant growth of the e-commerce sector in the region. These include the increasing popularity of social commerce & significant investments in infrastructure, such as efficient fulfillment centers, initiatives by the Dubai Free Zones Council, and strategic partnerships, like the collaboration between Noon.com and eBay.
This further underscores effort to capitalize on the expanding market landscape, setting the stage for a promising future for the e-commerce sector in the UAE and the wider GCC region. These factors led to the increasing demand for online shopping, which fueled a surge in the population of online buyers in the GCC, with the number of online shoppers projected to approach 60%. Further, aiding in thriving the Digital Payment Market across the GCC countries.
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Gain a Competitive Edge with Market Research Report
- The GCC P2P Payment Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the GCC P2P Payment Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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