GCC Mobile Banking Market Size, Share and Forecast 2032

GCC Mobile Banking Market Report by Type (Wireless Application Protocol (WAP), Standalone Mobile Application, SMS Banking, Unstructured Supplementary Service Data (USSD), and Others), Service (Transactions, Account information, Investments, Support Services, and Others), Platform (Android, IOS, and Others), Deployment (On-cloud, On-premises), End User (Individual, Enterprise), and Country 2024-2032

Report Format: PDF+Excel | Report ID: SR112025A3092

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Market Overview:

The GCC mobile banking market size is expected to exhibit a growth rate (CAGR) of 13.1% during 2024-2032.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Growth Rate 2024-2032	13.1%

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.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC mobile banking market report, along with forecasts at the regional and country levels from 2024-2032. Our report has categorized the market based on type, service, platform, deployment and end user.

Breakup by Type:

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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-premises

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.).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Type, Service, Platform, Deployment, End User, Country
Countries Covered	Saudi Arabia, UAE, Qatar, Bahrain, Oman, Kuwait
Companies Covered	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.)
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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 the 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?

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