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GCC Mobile Payment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The GCC mobile payment market size reached US$ 24.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 85.1 Billion by 2027, exhibiting a growth rate (CAGR) of 22.8% during 2022-2027.

Mobile payment aids in transferring funds using a smartphone and internet connection. During the transaction, a code is generated and sent over the air (OTA) or manually by the user. As a result, mobile payment is relatively more secure, convenient and easy to use than conventional methods. At present, the rising sales of smartphones and the increasing penetration of the internet are positively influencing the demand for mobile payment services in the GCC region.

The increasing adoption of contactless payment services, on account of the sudden outbreak of the coronavirus disease (COVID-19), represents one of the significant factors impelling the market growth in the GCC region. Moreover, with the rising number of expatriate workers, the demand for mobile payment is escalating in the region as it reduces the time and saves costs for conducting cross-border payments. Apart from this, several companies are collaborating with financial institutions to transfer salary to their employees via mobile payment solutions. For instance, Ooredoo QSC, a telecommunication company, collaborated with Qatar National Bank (QNB) to offer a hassle-free way of disbursing salaries to their employees while reducing accounting and administration costs.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC mobile payment market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on mode of transaction and application.

Breakup by Mode of Transaction:

  • WAP
  • NFC
  • SMS
  • USSD
  • Others
     

Breakup by Application:

  • Entertainment
  • Energy and Utilities
  • Healthcare
  • Retail
  • Hospitality and Transportation
  • Others
     

Breakup by Country:

  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • Kuwait
  • Bahrain
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Mode of Transaction, Application, Country
Countries Covered Saudi Arabia, UAE, Qatar, Bahrain, Oman, Kuwait 
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 payment 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 payment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the mode of transaction?
  • What is the breakup of the market based on the application?
  • 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 payment 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 Payment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Mode of Transaction 
    6.1    WAP
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    NFC
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    SMS 
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    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 Application
    7.1    Entertainment
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Energy and Utilities
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Healthcare
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Retail
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Hospitality and Transportation
        7.5.1    Market Trends
        7.5.2    Market Forecast
    7.6    Others
        7.6.1    Market Trends
       7.6.2    Market Forecast
8   Market Breakup by Country
    8.1    Saudi Arabia
        8.1.1 Market Trends
        8.1.2 Market Breakup by Mode of Transaction
        8.1.3 Market Breakup by Application
        8.1.4 Market Forecast
    8.2    UAE
        8.2.1 Market Trends
        8.2.2 Market Breakup by Mode of Transaction
        8.2.3 Market Breakup by Application
        8.2.4 Market Forecast
    8.3    Qatar
        8.3.1 Market Trends
        8.3.2 Market Breakup by Mode of Transaction
        8.3.3 Market Breakup by Application
        8.3.4 Market Forecast
    8.4    Oman
        8.4.1 Market Trends
        8.4.2 Market Breakup by Mode of Transaction
        8.4.3 Market Breakup by Application
        8.4.4 Market Forecast
    8.5    Kuwait
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Bahrain
        8.6.1 Market Trends
        8.6.2 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Policy and Regulatory Landscape
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players

List of Figures

Figure 1: GCC: Mobile Payment Market: Major Drivers and Challenges
Figure 2: GCC: Mobile Payment Market: Sales Value (in Billion US$), 2016-2021
Figure 3: GCC: Mobile Payment Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: GCC: Mobile Payment Market: Breakup by Mode of Transaction (in %), 2021
Figure 5: GCC: Mobile Payment Market: Breakup by Application (in %), 2021
Figure 6: GCC: Mobile Payment Market: Breakup by Country (in %), 2021
Figure 7: GCC: Mobile Payment (WAP) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: GCC: Mobile Payment (WAP) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: GCC: Mobile Payment (NFC) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: GCC: Mobile Payment (NFC) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: GCC: Mobile Payment (SMS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: GCC: Mobile Payment (SMS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: GCC: Mobile Payment (USSD) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: GCC: Mobile Payment (USSD) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: GCC: Mobile Payment (Other Mode of Transactions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: GCC: Mobile Payment (Other Mode of Transactions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: GCC: Mobile Payment (Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: GCC: Mobile Payment (Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: GCC: Mobile Payment (Energy and Utilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: GCC: Mobile Payment (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: GCC: Mobile Payment (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: GCC: Mobile Payment (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: GCC: Mobile Payment (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: GCC: Mobile Payment (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: GCC: Mobile Payment (Hospitality and Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: GCC: Mobile Payment (Hospitality and Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: GCC: Mobile Payment (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: GCC: Mobile Payment (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Saudi Arabia: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Saudi Arabia: Mobile Payment Market: Breakup by Mode of Transaction (in %), 2021
Figure 31: Saudi Arabia: Mobile Payment Market: Breakup by Application (in %), 2021
Figure 32: Saudi Arabia: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: UAE: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: UAE: Mobile Payment Market: Breakup by Mode of Transaction (in %), 2021
Figure 35: UAE: Mobile Payment Market: Breakup by Application (in %), 2021
Figure 36: UAE: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Qatar: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Qatar: Mobile Payment Market: Breakup by Mode of Transaction (in %), 2021
Figure 39: Qatar: Mobile Payment Market: Breakup by Application (in %), 2021
Figure 40: Qatar: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Oman: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Oman: Mobile Payment Market: Breakup by Mode of Transaction (in %), 2021
Figure 43: Oman: Mobile Payment Market: Breakup by Application (in %), 2021
Figure 44: Oman: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Kuwait: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Kuwait: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Bahrain: Mobile Payment Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Bahrain: Mobile Payment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: GCC: Mobile Payment Industry: SWOT Analysis
Figure 50: GCC: Mobile Payment Industry: Value Chain Analysis
Figure 51: GCC: Mobile Payment Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: GCC: Mobile Payment Market: Key Industry Highlights, 2021 and 2027
Table 2: GCC: Mobile Payment Market Forecast: Breakup by Mode of Transaction (in Million US$), 2022-2027
Table 3: GCC: Mobile Payment Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: GCC: Mobile Payment Market Forecast: Breakup by Country (in Million US$), 2022-2027
Table 5: GCC: Mobile Payment Market: Competitive Structure
Table 6: GCC: Mobile Payment Market: Key Players


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