Gurugram, India, Jan. 20, 2023 (GLOBE NEWSWIRE) — KSA Fintech Market is in a growing stage, driven by government initiatives and the availability of modern technology. The Fintech Market in KSA has various players. The total number of Fintechs in KSA is 147.
- The demographic outlook of KSA is changing with the young generation being more tech-savvy and embracing innovation in services.
- A strong indicator of growth in this market is the emergence of new industry verticals such as digital banking, crowdlending, infrastructure increase in digital payments and innovations in the capital market of KSA.
- The increasing growth is due to many government initiatives and regulations such as Digital Banking, Open Banking etc.
Current market positioning: The industry is moving towards digital development and technologies such as AI and ML to improve capabilities. Other government regulations and initiatives are being introduced in the region to support the development of the Fintech industry such as Digital Banks, Open Banking.
Increasing investment activity: Investment activity in the Fintech industry is also increasing every year with many Fintech players entering into partnerships with international Fintech players, investors and other companies to expand into nearby markets, add to existing product lines and achieve Innovation to capture more market.
Increasing Convergence in the Fintech Industry: The KSA Fintech Market is experiencing convergence of the sector, an increase in SME lending via online platforms and the development of new technology. The competition of Fintech firms is increasing due to many non-financial firms such as Telecom, Media etc. incorporating financial solutions on their platforms. This shows the increasing convergence in the Fintech industry.
The dominance of payments and currency exchange: Payments and Currency Exchange will continue to dominate the 23% market share of the KSA Fintech Market with a GTV of more than USD 20 billion in 2027. Lending and Finance will hold a 21% share of the KSA Fintech Market with a GTV of USD 21.25 billion in 2027. Lending and finance experienced an increase in share from 19% in 2022 due to growing popularity of crowdlending among SMEs and increasing need for financing from individuals.
Analysts on Ken Research in their latest publication- “KSA Fintech Market Outlook to 2027 – Driven by government regulations and initiatives and the growing adoption of technology among citizens” by Ken Research provides a comprehensive analysis of the potential of the fintech market in KSA. Increasing investment activity and increasing convergence in the Fintech industry is expected to contribute to market growth during the forecast period. The KSA Fintech Market is expected to grow at a robust CAGR over the forecast period 2022P-2027F.
Key segments covered:-
Segmentation by service vertical
- Payments and currency exchange
- Lending and finance
- Business tools
- Personal financing
- Private fundraising
- The capital market
- Infrastructure
Segmentation by region
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Segmentation after the investment stage
- Series A
- Series B and above
- Early (Pre-seed, Seed)
- Undisclosed
Segmentation after Company Stage
- Testing license
- Active
- The idea stage
- Pre-commercial
Key target group:-
- Banks and financial institutions
- Cash reconciliation companies
- Payment aggregators
- Payment network companies
- Payment interface companies
- M-Wallet Companies
- Young first-generation entrepreneurs
- Payment gateway companies
- PoS terminal companies
- M-PoS terminal companies
Time period captured in the report:-
- Historical period: 2017-2022P
- Base year: 2022P
- Forecast period: 2023F–2027F
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Companies covered:-
Payments and currency exchange:-
- stc pay
- Tweeq
- CLICK PAY
- the goat idea
- NearPay
- neo sprang
- Surepay
- PayTabs
- FOOD
- dinner payments
- CASH
- HYPER PAYMENT
Lending and financial
- Tamara
- tabby
- okay
- FOR US
- Land
Private fundraising-
- FALCOM TOJÁ
- Buthoor
- OSOOL & BAKHEET FUND
- Manafa
Business tools and information supply-
- Foodics
- Flexxpay
- Ear
- wosul
Payment system operators –
- Visa
- Apple pays
- American Express
- Google Pay
Main topics covered in the report:-
- Concise summary
- Global Fintech Market Overview
- MENA Fintech Market Overview
- Overview of the KSA Fintech Industry (Number of Fintechs and Fintech Ecosystem Enterprise Value, 2022)
- Market Size of KSA Fintech Market Based on GTV and Volume of Transactions, 2022
- Market Size of Different Service Verticals of KSA Fintech Market on the Basis of Volume of Transactions, 2022
- Market segmentation (by service vertical, by region, by company phase and investment phase)
- Industry analysis
- SWOT Analysis of KSA Fintech Market
- Growth drivers for the KSA Fintech Market
- Trends and developments in the KSA Fintech Market
- Value chain analysis
- Market segmentations; Competition; Future market size, 2027)
- Competitive landscape
- Future trends and the way forward
- Analyst recommendations
- Case study
- Covid impact
- Research methodology
For more insights on market intelligence, see the link below:-
KSA Fintech Market
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