Market Overview:
The GCC mobile banking market is expected to exhibit a CAGR of 14.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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 sub-segment of the GCC mobile banking market, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on type, service, platform, deployment and end user.
Breakup by Type:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- 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:
Breakup by Deployment:
Breakup by End User:
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 |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| 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$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699 |
| 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?
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 Market Breakup by Type
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 Trends
9.1.2 Market Forecast
9.2 On-premises
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$), 2016-2021
Figure 3: GCC: Mobile banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: GCC: Mobile banking Market: Breakup by Type (in %), 2021
Figure 5: GCC: Mobile banking Market: Breakup by Service (in %), 2021
Figure 6: GCC: Mobile banking Market: Breakup by Platform (in %), 2021
Figure 7: GCC: Mobile banking Market: Breakup by Deployment (in %), 2021
Figure 8: GCC: Mobile banking Market: Breakup by End User (in %), 2021
Figure 9: GCC: Mobile banking Market: Breakup by Country (in %), 2021
Figure 10: GCC: Mobile banking (Wireless Application Protocol) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: GCC: Mobile banking (Wireless Application Protocol) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: GCC: Mobile banking (Standalone Mobile Application) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: GCC: Mobile banking (Standalone Mobile Application) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: GCC: Mobile banking (SMS Banking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: GCC: Mobile banking (SMS Banking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: GCC: Mobile banking (Unstructured Supplementary Service Data) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: GCC: Mobile banking (Unstructured Supplementary Service Data) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: GCC: Mobile banking (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: GCC: Mobile banking (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: GCC: Mobile banking (Transactions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: GCC: Mobile banking (Transactions) Market: Breakup by Type (in %), 2021
Figure 22: GCC: Mobile banking (Customer to Customer) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: GCC: Mobile banking (Customer to Customer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: GCC: Mobile banking (Customer to Business) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: GCC: Mobile banking (Customer to Business) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: GCC: Mobile banking (Transactions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: GCC: Mobile banking (Account information) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: GCC: Mobile banking (Account information) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: GCC: Mobile banking (Investments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: GCC: Mobile banking (Investments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: GCC: Mobile banking (Support Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: GCC: Mobile banking (Support Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: GCC: Mobile banking (Other Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: GCC: Mobile banking (Other Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: GCC: Mobile banking (Android) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: GCC: Mobile banking (Android) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: GCC: Mobile banking (IOS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: GCC: Mobile banking (IOS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: GCC: Mobile banking (Other Platforms) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: GCC: Mobile banking (Other Platforms) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: GCC: Mobile banking (On-cloud) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: GCC: Mobile banking (On-cloud) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: GCC: Mobile banking (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: GCC: Mobile banking (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: GCC: Mobile banking (Individual) Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: GCC: Mobile banking (Individual) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: GCC: Mobile banking (Enterprise) Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: GCC: Mobile banking (Enterprise) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Saudi Arabia: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Saudi Arabia: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: United Arab Emirates: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: United Arab Emirates: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Qatar: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Qatar: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Bahrain: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Bahrain: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Oman: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Oman: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Kuwait: Mobile Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Kuwait: Mobile Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: GCC: Mobile banking Industry: SWOT Analysis
Figure 62: GCC: Mobile banking Industry: Value Chain Analysis
Figure 63: GCC: Mobile banking Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: GCC: Mobile Banking Market: Key Industry Highlights, 2021 and 2027
Table 2: GCC: Mobile Banking Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: GCC: Mobile Banking Market Forecast: Breakup by Service (in Million US$), 2022-2027
Table 4: GCC: Mobile Banking Market Forecast: Breakup by Platform (in Million US$), 2022-2027
Table 5: GCC: Mobile Banking Market Forecast: Breakup by Deployment (in Million US$), 2022-2027
Table 6: GCC: Mobile Banking Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 7: GCC: Mobile Banking Market Forecast: Breakup by Country (in Million US$), 2022-2027
Table 8: GCC: Mobile Banking Market: Competitive Structure
Table 9: GCC: Mobile Banking Market: Key Players