IMARC Group, a leading market research company, has recently releases report titled “GCC Fintech Market Report by Deployment Mode (On-premises, Cloud-based), Technology (Application Programming Interface, Artificial Intelligence, Blockchain, Robotic Process Automation, Data Analytics, and Others), Application (Payment and Fund Transfer, Loans, Insurance and Personal Finance, Wealth Management, and Others), End User (Banking, Insurance, Securities, and Others), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the GCC fintech market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the GCC fintech market?

The GCC fintech market size is projected to exhibit a growth rate (CAGR) of 17.6% during 2024-2032

What is fintech?

Fintech, short for financial technology, refers to the innovative use of technology to provide financial services and enhance efficiency in the delivery of financial products. This rapidly evolving sector encompasses a wide range of applications, including mobile banking, digital payments, robo-advisors, blockchain technology, and crowdfunding platforms. Fintech companies leverage advanced software, data analytics, and cutting-edge technologies to streamline traditional financial processes, making them more accessible, cost-effective, and user-friendly. The industry's growth is fueled by a desire for faster, more convenient financial services, increased connectivity, and a shift towards digital solutions. Fintech has disrupted traditional banking and financial institutions, fostering a more competitive and dynamic landscape that caters to the evolving needs of consumers and businesses in the modern digital age. At present, fintech is gaining immense traction across the GCC countries due to its ability to offer innovative and convenient financial solutions, streamline traditional processes, and meet the growing demand for accessible digital services.

Request for a sample copy of this report: https://www.imarcgroup.com/gcc-fintech-market/requestsample

What are the growth prospects and trends in the GCC fintech industry?

The GCC fintech market is primarily driven by rising demand for fintech solutions due to the expanding youthful and tech-savvy population in the Gulf region adopting digital financial services. Apart from this, several favorable government initiatives and regulatory reforms create a conducive environment for fintech startups and innovation, promoting financial inclusion and economic diversification is fueling market growth. Moreover, the heightening emphasis of GCC on e-commerce and digital payments and a rising preference for cashless transactions that drives the development of fintech payment solutions and mobile wallets is propelling market growth. Besides this, the region's increasing appetite for wealth management and investment services has catalyzed the growth of robo-advisors and digital investment platforms. Additionally, the shift toward digital banking and contactless payments amid the coronavirus (COVID-19) pandemic has accelerated the adoption of fintech. Furthermore, rising strategic partnerships between traditional financial institutions and fintech startups that foster collaboration and innovation are contributing to market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Deployment Mode Insights:

  • On-premises
  • Cloud-based

Technology Insights:

  • Application Programming Interface
  • Artificial Intelligence
  • Blockchain
  • Robotic Process Automation
  • Data Analytics
  • Others

Application Insights:

  • Payment and Fund Transfer
  • Loans
  • Insurance and Personal Finance
  • Wealth Management
  • Others

End User Insights:

  • Banking
  • Insurance
  • Securities
  • Others

Country Insights:

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

Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same 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.

IMARC Group’s 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 company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal