UAE Mobile Wallet Market By Application (Bill Payment, Mobile Recharge & Mobile Bill Payments, Utilities & Money Transfer & Others), By End User (Retail, Telecom, Media & Entertainment, Transportation & Others), Competition Forecast & Opportunities, 2014 – 2022

UAE mobile wallet market stood at $ 530 million in 2016 and is projected to grow at a CAGR of 24% to surpass $ 2.3 billion by 2022, on the back of growing smartphone and internet penetration in the country. Government initiatives towards a cashless and digitalized economy, emergence of Bring Your Own Device, and a huge number of people without bank accounts are some of the other factors expected to provide lucrative growth opportunities to mobile wallet providers in the UAE during forecast period. Moreover, increasing youth population, which is tech-savvy, coupled with growing number of retailers accepting mobile wallet payments and installing POS, and rising support of the banking industry would fuel the country’s mobile wallet market in the coming years.

Years considered for this report:

Historical Years: 2014-2015

Base Year: 2016

Estimated Year: 2017

Forecast Period: 2018–2022

Objective of the Study:

• To define, segment, describe and forecast the UAE mobile wallet market on the basis of application, end user, region and company.
• To analyze and forecast the UAE mobile wallet market size.
• To scrutinize the detailed market segmentation and forecast the market size, in terms of value, by segmenting the UAE mobile wallet market into northern and southern regions.
• To identify the drivers and challenges for the UAE mobile wallet market.
• To strategically profile leading players driving innovation and technological advancements in the UAE mobile wallet market.

Some of the major players operating in the UAE mobile wallet market are Trriple Payments LLC, Beam Wallet, Bridg, Cardtek International LLC, Emirates Integrated Telecommunications Co., Emirates Telecommunication Corp., Mashreq Bank, Emirates NBD, OMA Emirates LLC, and Network International LLC, among others.

 TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of country-wide mobile wallet solution providers. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the product offerings or variants and regional presence of major mobile wallet providers.

TechSci Research calculated the UAE mobile wallet market size using a bottom-up approach, where data for different components for standard application was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and these were externally validated through analyzing historical data of mobile wallet market to arrive at the overall market size. Various secondary sources such as company websites, annual reports, World Bank website, government websites, press releases,  white papers, investor presentations and financial reports were also reviewed by TechSci Research.

Key Target Audience:

• Mobile Wallet solution providers and other stakeholders
• Associations, organizations, forums and alliances associated with mobile wallet market
• Government bodies such as regulating authorities and policy makers

·         Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as mobile wallet providers, companies, customers and policymakers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, the UAE mobile wallet market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

• Market, by Application:

• Bill Payment
• Mobile Recharge & Mobile Bill Payments
• Utilities & Money Transfer
• Others

      •       Market, by End User:

• Retail
• Telecom
• Media & Entertainment
• Transportation
• Others

• Market, by Region:

• North
• South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies providing mobile wallet services in the UAE.

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:

•         Profiling of five more players in the UAE market
•          Further bifurcation in the regional market