Beyond Dawlish
Markntel Advisors’ report, GCC P2P Payment Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the GCC P2P Payment presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
GCC P2P Payment Market Research Report & Market Summary:
The GCC P2P Payment Market is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30. The prevalence of smartphones, fast internet connectivity, and sophisticated mobile apps has resulted in the widespread acceptance of convenient digital payment alternatives in the Gulf Cooperation Council (GCC) region. The tech-savvy population in the region shows a greater inclination towards utilizing digital platforms for financial transactions, contributing to the expansion of digital payment services.
%u2705In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/gcc-p2p-payment-market.html
GCC P2P Payment Market Dynamics:
Key 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.
GCC P2P Payment Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
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)
Smartcard/NFC transactions have emerged as the dominant force in the P2P (Peer-to-peer)/Digital Payment Market in the GCC region, holding the largest share, and this trend is expected to continue in the coming years as well. This is attributed to the growing issuance of chip cards by banks & the widespread availability of mobile app-based debit card payment methods, such as Google Pay, Samsung Pay, etc., creating a substantial demand for NFC/Smart Cards.
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)
The expansion of digital payments in the retail and e-commerce sectors has been notable in recent times. The increasing prevalence of online shopping & the widespread adoption of e-commerce platforms have significantly contributed to the surge in digital payment usage in the region. In GCC countries, the ratio of internet users to the population has surged to 98.2%. Consumers are increasingly favoring the convenience & efficiency offered by digital payment methods when making purchases online or in physical retail stores. The integration of digital payment options at checkout counters has become commonplace, which would assist in enhancing the market size.
By Country
- Saudi Arabia
- The UAE
- Qatar
- Kuwait
- Oman
- Bahrain.
The UAE is projected to lead the GCC P2P Payment Market during the forecast period as the country's government has launched new regulations that encourage the entry of the payment ecosystem in the country. The growing e-commerce industry led to increased adoption of digital payment methods in the UAE. According to MasterCard, a payment technology corporation states that 88% of the residents in the United Arab Emirates (UAE) use one or more emerging payment methods.
As indicated in the latest market research report published by Markntel Advisors, “GCC P2P Payment Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the GCC P2P Payment industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/gcc-p2p-payment-market.html
Top Companies Operating 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
*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*
Other Report:
- The Global Information Technology as a Service (ITaaS) Marketsize was valued at USD48 Billion in 2022 and is projected to grow at a CAGR of around 28% during the forecast period 2023-28.
- The Global Drone Inspection and Monitoring Market size was valued at around USD5Billion in 2022 & is estimated to grow at a CAGR of about 11.32% during the forecast period 2023-28, says MarkNtel Advisors.
Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & GCC P2P Payment Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
About Us –
We are a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Contact Us –
Email: sales@marknteladvisors.com
Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511
Address Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India
