MarkNtel Advisors recently published a detailed industry analysis of the Saudi Arabia Digital Wallet Market. The report covers growth trends, regional marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Saudi Arabia Digital Wallet Market (2023-2028)
The Saudi Arabia Digital Wallet Market size is valued at around USD 421 million in 2024 and is projected to grow at a CAGR of around 8.80% during the forecast period, i.e., 2023-28.
Saudi Arabia Digital Wallet Market Driver:
Growth of E-Commerce Platforms– The improved internet infrastructure and widespread adoption of smartphones in Saudi Arabia have led to a boost in internet penetration across the country. The increased internet accessibility in the country has served as an opportunity for the e-commerce platforms like Noon, Carrefour, etc., to widen consumer reach & increase market penetration. Moreover, the changing consumer preference for online shopping due to convenience & wider product accessibility is leading to the growth of e-commerce platforms in Saudi Arabia. According to MasterCard, in 2021, the country witnessed a rise of approximately 77% in online shopping.
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What segments define the Saudi Arabia Digital Wallet market from 2023- 2028? How do these segments contribute to market dynamics and growth?
-By Type
-Proximity- Market Size & Forecast 2018-2028F, USD Million
-Remote- Market Size & Forecast 2018-2028F, USD Million
-By Technology
-Near Field Communication- Market Size & Forecast 2018-2028F, USD Million
-QR Code- Market Size & Forecast 2018-2028F, USD Million
-Text-Based/Short Message Service- Market Size & Forecast 2018-2028F, USD Million
-Digital Only- Market Size & Forecast 2018-2028F, USD Million
-By Wallet Type
-Open- Market Size & Forecast 2018-2028F, USD Million
-Closed- Market Size & Forecast 2018-2028F, USD Million
-Semi-Closed- Market Size & Forecast 2018-2028F, USD Million
-By Industry Vertical
-Banking, Financial Services, and Insurance (BFSI)- Market Size & Forecast 2018-2028F, USD Million
-Hospitality- Market Size & Forecast 2018-2028F, USD Million
-Media & Entertainment - Market Size & Forecast 2018-2028F, USD Million
-Retail & E-Commerce- Market Size & Forecast 2018-2028F, USD Million
-Energy & Utilities- Market Size & Forecast 2018-2028F, USD Million
-Telecommunication- Market Size & Forecast 2018-2028F, USD Million
-Others (Healthcare, Gaming, etc.)- Market Size & Forecast 2018-2028F, USD Million
-By End User
-Personal- Market Size & Forecast 2018-2028F, USD Million
-Business/Corporate- Market Size & Forecast 2018-2028F, USD Million
-By Ownership
-Banks- Market Size & Forecast 2018-2028F, USD Million
-Telecom Operators- Market Size & Forecast 2018-2028F, USD Million
-Device Manufacturers- Market Size & Forecast 2018-2028F, USD Million
-Tech Companies- Market Size & Forecast 2018-2028F, USD Million
Explore the Complete Saudi Arabia Digital Wallet Market Analysis Report – https://www.marknteladvisors.com/research-library/saudi-arabia-digital-wallet-market.html
By Region
-Central
-East
-West
-South
Who are the leading key players shaping the Saudi Arabia Digital Wallet Market landscape?
STC Pay, Geidea Solutions, Hala, UrPay, Mobily Pay, Alinma Pay, Friendi Pay, Liv KSA, Meem, Mada Pay, Quick Pay, HyperPay and Others
Questions Addressed in this Study
1.What factors are driving the Saudi Arabia Digital Wallet Market growth?
2.What are the key insights into the current trends in the Saudi Arabia Digital Wallet Market?
3.What is the current size of the Saudi Arabia Digital Wallet Market, and how is it projected to change in the future?
4.What is the future outlook for the Saudi Arabia Digital Wallet Market in terms of technological advancements and market expansion?
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