Middle East & North Africa Digital Payments Market 2020-2025 - High Proliferation of Smartphones and Internet Penetration to Drive Market Growth - ResearchAndMarkets.com
The "Middle East & North Africa Digital Payments Market - Growth, Trends, Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Middle East & North Africa Digital Payments Market is expected to grow at a CAGR of 6.5% over the forecast period 2020-2025. Over time, the digital payment industry has recorded robust growth, with new providers, new platforms, and new payment tools being launched in the region.
The landscape of digital payment across the region is changing rapidly and fuelling the market growth, owing to unsettling digital transformation. The stores and services across the region are rapidly adopting and integrating mobile payment applications, such as PayPal (News - Alert), Samsung Pay, Apple Pay, and Google Pay to accept payments. Owing to changing lifestyles, daily commerce, and rapid growth in online retailing, this trend is expected to continue during the forecast period in the region.
The market studied is expected to flourish, owing to the robust proliferation of the smart phones and internet. The internet penetration rate has been recording a healthy growth over the past few years, and is expected to continue traversing the same trajectory, owing to increasing investments by internet service providers in the region. In Qatar, 75% of the population has a mobile phone, the UAE 73%, and Saudi Arabia 60%.
Key Market Trends
High Proliferation of Smartphones and Internet Penetration to Drive the Market Growth
The Middle East & North Africa Digital Payments Market is moderately concentrated. The competitive rivalry in the market studied is moderate, as a good number of players prevail. Despite the existence of several companies in the market studied, firms are required to keep innovating their products, in order to gain a sustainable competitive edge over their rivals and provide product differentiation. Some of the key developments in the market are:
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.2 Enablement Programs by Key Retailers to Bridge the Gap Between Physical and Digital World
4.2.3 Launch of Real-Time Payment Systems in Key GCC and North African Countries
4.2.4 Growing Emphasis on Customer Satisfaction and Convergence of Global Trends in the Region
4.3 Market Restraints
4.3.1 Operational Challenges Involving Cross-Border Payments and Relative Lack of Digital Literacy in Key Emerging Countries in the Region
4.4 Value Chain Analysis
4.5 Porters Five Force Analysis
4.6 Key Regulations and Standards in the Digital Payment Industry
4.7 Assessment of Impact of COVID-19 on the Middle East & North Africa Digital Payments Market
4.8 Key Base Indicators
4.8.1 Digital Literacy
4.8.2 Population Index
4.8.3 Strong Presence of Expatriate Workers in the Middle East Region
4.9 Major Case Studies & Implementation Use-Cases
5 CURRENT PAYMENT LANDSCAPE IN MIDDLE EAST & NORTH AFRICA
6 MARKET SEGMENTATION
6.1.1 Saudi Arabia
6.1.6 Rest of Middle East (Iran, Iraq, Kuwait, Qatar, Bahrain)
6.1.7 Rest of North Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Paypal Holdings Inc.
7.1.2 Samsung Corporation
7.1.3 ACI Worldwide Inc.
7.1.4 CIB Bank
7.1.5 Alphabet Inc. (Google Pay)
7.1.6 Apple Inc.
7.1.7 First Data
7.1.9 Mastercard (MasterPass)
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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