GCC P2P Payment Market Poised for a 8.68% CAGR | Market Segment By Transaction Mode, Location, End User and Forecast 2030

Latest Market Study report by MarkNtel Advisors: Leading market research company, Title "GCC P2P Payment Market- By Transaction Mode (Short Message Service (SMS), Mobile Apps, Smartcard/NFC (Near field communication), Others (Bank Transfers, Digital Wallets, etc.)), By Location (Remote Payment, Proximity Payment)" and other forecast 2024-30".

This detailed report provides a thorough look at the industry, covering key aspects like the GCC P2P Payment Market Size, its growth in share, development, and the top companies involved. It examines what's driving the market, using historical, current, and projected data, as well as emerging trends, technology updates, important insights, recent developments, potential limitations, and other factors that will influence the industry's direction in the future.

How Big is the GCC P2P Payment Industry?

GCC P2P Payment Market is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30.

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Factors Influencing the Growth of the GCC P2P Payment Industry:

Prospering E-commerce Industry Driving the Rapid Development of Digital Payment in Gulf Countries - The surge in the e-commerce industry in GCC countries like the UAE, Saudi Arabia, Kuwait, Bahrain, etc., is fueling a significant transformation of the consumer experience and prompting the rise of digital payments. Several factors have contributed to the buoyant growth of the e-commerce sector in the region. These include the increasing popularity of social commerce & significant investments in infrastructure, such as efficient fulfillment centers, initiatives by the Dubai Free Zones Council, and strategic partnerships, like the collaboration between Noon.com and eBay.

This further underscores effort to capitalize on the expanding market landscape, setting the stage for a promising future for the e-commerce sector in the UAE and the wider GCC region. These factors led to the increasing demand for online shopping, which fueled a surge in the population of online buyers in the GCC, with the number of online shoppers projected to approach 60%. Further, aiding in thriving the Digital Payment Market across the GCC countries.

Name of Leading GCC P2P Payment Companies in the Market

 > Paypal

 > Apple Pay

 > Venmo

 > Cash App

 > Google Pay

 > Square Cash

 > Zelle

 > Noon Pay

 > Mamo Pay

 > Ziina Pay

 > MoneyGram International, Inc.

 > Beyon Money

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Segmentation Summary - GCC P2P Payment Market

The breakdown of the GCC P2P Payment market into different segments provides a quick overview. It helps businesses understand what customers prefer and where they are located. By dividing the market into smaller groups based on purchasing habits and geography, companies can improve their business strategies. This summary offers a straightforward guide to better understanding the market.

By Transaction Mode

 > Short Message Service (SMS)- Market Size & Forecast 2019-2030, (USD Million)

 > Mobile Apps- Market Size & Forecast 2019-2030, (USD Million)

 > Smartcard/NFC (Near field communication)- Market Size & Forecast 2019-2030, (USD Million)

 > Others (Bank Transfers, Digital Wallets, etc.)- Market Size & Forecast 2019-2030, (USD Million)

By Location

 > Remote Payment- Market Size & Forecast 2019-2030, (USD Million)

 > Proximity Payment- Market Size & Forecast 2019-2030, (USD Million)

By End User

 > Retail & E-Commerce- Market Size & Forecast 2019-2030, (USD Million)

 > Travel & Hospitality- Market Size & Forecast 2019-2030, (USD Million)

 > Transportation & Logistics- Market Size & Forecast 2019-2030, (USD Million)

 > BFSI- Market Size & Forecast 2019-2030, (USD Million)

 > Healthcare- Market Size & Forecast 2019-2030, (USD Million)

 > Others (IT & Telecom, Media & Entertainment, etc.)- Market Size & Forecast 2019-2030, (USD Million)

Geographically Insight: GCC P2P Payment Market

Geographically, the GCC P2P Payment Market expands across:

 * Saudi Arabia

 * The UAE

 * Qatar

 * Kuwait

 * Oman

 * Bahrain

Of all, The UAE is projected to lead the GCC P2P Payment Market during the forecast period as the country's government has launched new regulations that encourage the entry of the payment ecosystem in the country.

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