Saudi Arabia Digital Lending
market is expected to grow at a steady rate during the forecast period. Oil is
the major revenue-generating industry of Saudi Arabia therefore, to reduce the
dependency and diversify other revenue-generating sources leading authorities
are promoting the growth of new business solutions. The presence of dynamic
entrepreneurs in the country requiring huge financial support is the major
driver in the forecast period. The role of incubators and funding is crucial
for the development of budding companies thereby fueling the growth of the
digital lending market. Digitization of the financial lending process ensures
error-free financial records with no human error and helps in better analysis
and monitoring of the financial transactions. The government is launching
supportive initiatives to promote the growth of entrepreneurs in the country by
ensuring the smooth operation of start-ups with the introduction of favorable
policies and income tax rebates. High internet penetration and proliferation of
smart devices are influencing the digital lending market growth. Rising
awareness about cybersecurity and technological advancements leading to
enhanced protection during online transactions with providing extra security
layers is fostering the growth of the digital lending market. The presence of
business-friendly regulations in the country owing to the lower number of days
and easy procedures required to start a business are contributing to fuel the
growth of the digital lending market.
Saudi Arabia Digital Lending
market is segmented into component, deployment mode, business model, end user,
regional distribution, and company. Based on deployment mode, the market can be
divided into on-premise and cloud. The cloud segment is expected to witness
growth during the forecast period, 2022-2026. With cloud solutions,
applications can be accessed from a remote location at any time. Cloud
solutions are cost-effective in nature and provide a high level of security to
the system which is the major reason for its preference over its
counterpart.
The major players operating on the
Digital Lending market are Nucleus Software, FIS, Inc, Temenos
AG, Fiserv, Inc., Newgen Software Technologies Limited, Arabian Hala Co., Saudi
Fintech Company, Sulfah, Forus, Saudi Arabian Monetary Authority, and others.
Major companies are developing advanced technologies and launching new services
to stay competitive in the market. Other competitive strategies include mergers
& acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the
Study:
- To analyze and estimate the market size of Saudi
Arabia Digital Lending market from 2016 to 2019.
- To estimate and forecast the market size of Saudi
Arabia Digital Lending market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Saudi Arabia Digital
Lending market based on component, deployment mode, business model, end
user, regional distribution, and company.
- To identify dominant region or segment in the Saudi
Arabia Digital Lending market.
- To identify drivers and challenges for Saudi
Arabia Digital Lending market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia Digital Lending market.
- To identify and analyze the profile of leading
players operating in Saudi Arabia Digital Lending market.
- To identify key sustainable strategies adopted
by market players in Saudi Arabia Digital Lending market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the service providers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service providers, distribution channels and presence of all
major players across the globe.
TechSci Research calculated the market size of Saudi Arabia Digital Lending market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Digital lending service provider
companies
- Market research and
consulting firms
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums, and
alliances related to Digital Lending market
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as service providers, suppliers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, Saudi Arabia Digital
Lending market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Saudi Arabia Digital Lending Market, By Component:
- Solution
- Loan Origination
- Decision Automation
- Portfolio Management
- Loan Servicing
- Risk and Compliance Management
- Loan Management
- Business Process Management
- Others
- Service
- Saudi Arabia Digital Lending Market, By Deployment
Mode:
- Saudi Arabia Digital Lending Market, By Business
Model:
- Customer Driven
- Staff Driven
- Saudi Arabia Digital Lending Market, By End User:
- BFSI
- Insurance
- Credit Unions
- Peer-to-Peer Lenders
- Retail Banking
- Others
- Saudi Arabia Digital Lending Market, By Region:
- Western Region
- Northern & Central Region
- Eastern Region
- Southern Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia Digital Lending market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Saudi Arabia Digital
Lending market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]
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