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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

GCC Mobile Banking Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The GCC mobile banking market grew at a CAGR of around 14% during 2015-2020. Mobile banking refers to a digital service offered by banks to conduct financial transactions remotely via smart devices, such as smartphones and tablets. It also provides additional services, such as investment advice, customer support, accounting information, remote check deposits, bill payments, etc. Mobile banking offers secured and convenient payment solutions in comparison to the conventional transaction methods. In GCC countries, mobile banking solutions have gained prominence with the increasing adoption of digitalization trends pertaining to financial services.

The high internet connectivity along with the rising penetration of smart devices, such as smartphones and tablets, is primarily driving the market for mobile banking. The expanding banking, financial services, and insurance (BFSI) industry in the GCC region has led to the growing demand for convenient and prompt services to complete financial transactions. As a result, several banking institutions are introducing instant and real-time customer assistance techniques to promote self-service banking operations. Additionally, the rising integration of numerous advanced technologies, such as artificial intelligence (AI), blockchain, wireless application protocol (WAP), etc., with banking solutions for providing user-friendly interfaces, is also augmenting the market growth. Furthermore, several government bodies, particularly across the region are introducing numerous initiatives to promote mobile banking services for tracking financial transactions and mitigating the risks of money laundering. With the emergence of FinTech technologies, several banks in the GCC region are investing in upgradations of their mobile applications to provide customized product offerings and streamlined customer experience, which are expected to further drive the market for mobile banking in the coming years. Looking forward, IMARC Group expects the GCC mobile banking market to continue its strong growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC mobile banking market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, type, service, platform, deployment and end user.

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
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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), and Qatar Islamic Bank (Q.P.S.C.).

Key Questions Answered in This Report:

  • How has the GCC mobile banking market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on GCC mobile banking market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the service?
  • What is the breakup of the market based on the platform?
  • What is the breakup of the market based on the deployment?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the GCC mobile banking market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    GCC Mobile Banking Market 
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6       Market Breakup by Type
    6.1    Wireless Application Protocol (WAP)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Standalone Mobile Application
        6.2.1 Market Trends
        6.2.2 Market Forecast 
    6.3    SMS Banking
        6.3.1 Market Trends
        6.3.2 Market Forecast 
    6.4    Unstructured Supplementary Service Data (USSD) 
        6.4.1 Market Trends
        6.4.2 Market Forecast                   
    6.5    Others
        6.5.1 Market Trends
        6.5.2 Market Forecast 
7    Market Breakup by Service
    7.1    Transactions
        7.1.1 Market Trends
        7.1.2 Major Types                   
           7.1.2.1 Customer to Customer
              7.1.2.1.1 Market Trends
              7.1.2.1.2 Market Forecast
            7.1.2.2 Customer to Business
               7.1.2.2.1 Market Trends
               7.1.2.2.2 Market Forecast
        7.1.3 Market Forecast
    7.2    Account information
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Investments
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Support Services
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast                  
8    Market Breakup by Platform
    8.1    Android
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    IOS
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Deployment
    9.1    On-cloud
        9.1.1 Market Trend
        9.1.2 Market Forecast
    9.2    On-premise
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by End User
    10.1     Individual
        10.1.1 Market Trends     
        10.1.2 Market Forecast
    10.2    Enterprise
        10.2.1 Market Trends
        10.2.2 Market Forecast          
11    Market Breakup by Country
    11.1    Saudi Arabia
        11.1.1 Market Trends
        11.1.2 Market Forecast
    11.2    UAE
        11.2.1 Market Trends
        11.2.2 Market Forecast
    11.3    Qatar
        11.3.1 Market Trends
        11.3.2 Market Forecast
    11.4    Bahrain
        11.4.1 Market Trends
        11.4.2 Market Forecast
    11.5    Oman
        11.5.1 Market Trends
        11.5.2 Market Forecast
    11.6    Kuwait 
        11.6.1 Market Trends
        11.6.2 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Abu Dhabi Islamic Bank 
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
        15.3.2     Al Baraka Banking Group B.S.C
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
           15.3.2.3 Financials
        15.3.3      Al Rajhi Banking and Investment Corporation
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
           15.3.3.3 SWOT Analysis
           15.3.3.4 Financials
        15.3.4     Alinma Bank
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
           15.3.4.3 Financials
        15.3.5     Bank AlBilad
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 Financials
        15.3.6     Bank AlJazira
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
        15.3.7     Bank Dhofar SAOG
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
        15.3.8     Dubai Islamic Bank
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
        15.3.9     Kuwait Finance House
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 SWOT Analysis
           15.3.9.4 Financials 
        15.3.10     Mashreqbank PSC
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials 
        15.3.11     Masraf Al Rayan (Q.P.S.C)
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 SWOT Analysis
           15.3.11.4 Financials 
        15.3.12      Qatar Islamic Bank (Q.P.S.C.)
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 SWOT Analysis
           15.3.12.4 Financials 

List of Figures

Figure 1: GCC: Mobile banking Market: Major Drivers and Challenges
Figure 2: GCC: Mobile banking Market: Sales Value (in Million US$), 2015-2020
Figure 3: GCC: Mobile banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: GCC: Mobile banking Market: Breakup by Type (in %), 2020
Figure 5: GCC: Mobile banking Market: Breakup by Service (in %), 2020
Figure 6: GCC: Mobile banking Market: Breakup by Platform (in %), 2020
Figure 7: GCC: Mobile banking Market: Breakup by Deployment (in %), 2020
Figure 8: GCC: Mobile banking Market: Breakup by End User (in %), 2020
Figure 9: GCC: Mobile banking Market: Breakup by Country (in %), 2020
Figure 10: GCC: Mobile banking (Wireless Application Protocol) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: GCC: Mobile banking (Wireless Application Protocol) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: GCC: Mobile banking (Standalone Mobile Application) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: GCC: Mobile banking (Standalone Mobile Application) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: GCC: Mobile banking (SMS Banking) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: GCC: Mobile banking (SMS Banking) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: GCC: Mobile banking (Unstructured Supplementary Service Data) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: GCC: Mobile banking (Unstructured Supplementary Service Data) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: GCC: Mobile banking (Other Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: GCC: Mobile banking (Other Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: GCC: Mobile banking (Transactions) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: GCC: Mobile banking (Transactions) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: GCC: Mobile banking (Customer to Customer) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: GCC: Mobile banking (Customer to Customer) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: GCC: Mobile banking (Customer to Business) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: GCC: Mobile banking (Customer to Business) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: GCC: Mobile banking (Account information) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: GCC: Mobile banking (Account information) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: GCC: Mobile banking (Investments) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: GCC: Mobile banking (Investments) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: GCC: Mobile banking (Support Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: GCC: Mobile banking (Support Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: GCC: Mobile banking (Other Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: GCC: Mobile banking (Other Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: GCC: Mobile banking (Android) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: GCC: Mobile banking (Android) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: GCC: Mobile banking (IOS) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: GCC: Mobile banking (IOS) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: GCC: Mobile banking (Other Platforms) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: GCC: Mobile banking (Other Platforms) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: GCC: Mobile banking (On-cloud) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: GCC: Mobile banking (On-cloud) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: GCC: Mobile banking (On-premise) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: GCC: Mobile banking (On-premise) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: GCC: Mobile banking (Individual) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: GCC: Mobile banking (Individual) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: GCC: Mobile banking (Enterprise) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: GCC: Mobile banking (Enterprise) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Saudi Arabia: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Saudi Arabia: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: United Arab Emirates: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: United Arab Emirates: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Qatar: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Qatar: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Bahrain: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 55 Bahrain: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Oman: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Oman: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Kuwait: Mobile Banking Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Kuwait: Mobile Banking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: GCC: Mobile banking Industry: SWOT Analysis
Figure 61: GCC: Mobile banking Industry: Value Chain Analysis
Figure 62: GCC: Mobile banking Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: GCC: Mobile Banking Market: Key Industry Highlights, 2021 and 2026
Table 2: GCC: Mobile Banking Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: GCC: Mobile Banking Market Forecast: Breakup by Service (in Million US$), 2021-2026
Table 4: GCC: Mobile Banking Market Forecast: Breakup by Platform (in Million US$), 2021-2026
Table 5: GCC: Mobile Banking Market Forecast: Breakup by Deployment (in Million US$), 2021-2026
Table 6: GCC: Mobile Banking Market Forecast: Breakup by End User (in Million US$), 2021-2026
Table 7: GCC: Mobile Banking Market Forecast: Breakup by Country (in Million US$), 2021-2026
Table 8: GCC: Mobile Banking Market: Competitive Structure
Table 9: GCC: Mobile Banking Market: Key Players

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