IMARC Group, a leading market research company, has recently releases report titled 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. The study provides a detailed analysis of the industry, including the GCC mobile bankingmarket share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the GCC Mobile Banking Market?
The GCC mobile bankingmarket size is expected to exhibit a growth rate (CAGR) of 13.1% during 2024-2032.
Request for a PDF sample of this report: https://www.imarcgroup.com/gcc-mobile-banking-market/requestsample
GCC Mobile Banking Market Trends and Drivers:
The GCC mobile banking market is primarily augmenting by the widespread adoption of smartphones and the elevating high internet penetration. Additionally, the expanding tech-savvy population is escalating the demand for convenience and efficiency in banking services, which is also augmenting the market growth across GCC. In line with this, the digitalization of financial services and the development of smart cities are stimulating the adoption of mobile banking, as it enhances financial inclusion and streamlines banking operations, which is further stimulating the market. Furthermore, consumers and businesses are extensively using digital banking solutions to manage their finances amidst the COVID-19 pandemic restrictions on physical movement, thereby accelerating the market growth.
In addition to this, the widespread integration of advanced technologies such as artificial intelligence (AI), blockchain, and biometric authentication to improve security, personalize customer experiences, and streamline transaction processes are emerging trends in the GCC mobile banking market. Besides this, banks are increasingly adopting these technologies to offer innovative services, such as chatbots for customer service, blockchain for secure and transparent transactions, and biometric authentication for enhanced security measures, which is acting as another growth-inducing factor. Apart from this, the growing emphasis on introducing user-friendly and accessible mobile banking apps, owing to a diverse customer base, including those with disabilities, is expected to bolster the GCC mobile banking market over the forecasted period.
Leading Companies Operating in the GCC Mobile Banking Industry:
- 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)
- Qatar Islamic Bank (Q.P.S.C.)
Key Market Segmentation:
The report is organized into distinct sections as follows:
By Type:
- Wireless Application Protocol (WAP)
- Standalone Mobile Application
- SMS Banking
- Unstructured Supplementary Service Data (USSD)
- Others
On the basis of type, the market is segmented into Wireless Application Protocol (WAP), Standalone Mobile Application, SMS Banking, Unstructured Supplementary Service Data (USSD) and others.
By Service:
- Transactions
- Customer to Customer
- Customer to Business
- Account information
- Investments
- Support Services
- Others
On the basis of service, the market is segmented into Transactions (Customer to Customer and Customer to Business), Account information, Investments, Support Services and others.
By Platform:
- Android
- IOS
- Others
Android is the largest segment in the GCC Mobile Banking market by platform due to the widespread adoption of Android-based smartphones among consumers in the region, making it the preferred platform for accessing mobile banking services.
By Deployment:
- On-cloud
- On-premises
On the basis of deployment, the market is segmented into On-Cloud and On-Premises.
By End User:
- Individual
- Enterprise
On the basis of end user, the market has been divided into Individual and Enterprise.
By Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Oman
- Kuwait
Saudi Arabia is the largest segment due to its large population, high smartphone penetration rate, and proactive government initiatives promoting digitalization and mobile banking services in the country.
Ask Analyst for Customization and Explore full report with TOC List of Figures:https://www.imarcgroup.com/request?type=reportid=3092flag=C
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
ContactUS:
IMARCGroup
134N4thSt.Brooklyn,NY11249,USA
Email:sales@imarcgroup.com
TelNo:(D)+911204330800
UnitedStates:+1-631-791-1145|UnitedKingdom:+44-753-713-2163
