Favorable government initiatives, increasing number of smartphone users, growing mobile internet penetration and rising acceptance of mobile payments to drive UAE mobile wallet market through 2022

According to TechSci Research report, “UAE Mobile Wallet Market By Application, By End User, Competition Forecast & Opportunities, 2014 – 2022”, mobile wallet market in the UAE is forecast to exhibit a CAGR of 24% during 2017-2022. Key factors expected to drive the market include increasing number of government initiatives towards a cashless economy, rising smartphone user base, and growing adoption of technology in various industry verticals ranging from government to telecoms, retail, utilities, etc. Moreover, increasing immigrant population and growing support of the banking industry to facilitate transactions through the m-wallet would fuel the UAE mobile wallet market in the coming years.

Browse 9 market data Tables and 25 Figures spread through 104 Pages and an in-depth TOC on "UAE Mobile Wallet Market"

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Retail sector accounted for the largest share in the country’s mobile wallet market in 2016 and is expected to maintain its market dominance during the forecast period, as Emirati consumers are increasingly shopping online through different e-commerce platforms, consequently, the number of online transactions is expected to grow at a robust pace. Moreover, the country’s northern region holds the lion’s share in the mobile wallet market, backed by huge population base and growing internet penetration rate in the region. Additionally, a large number of customers in the region are increasing using mobile wallet for remittance purposes.

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“Mobile wallet is an important aspect of the UAE Smart Government initiative, as it is expected to drive the digital payments framework in the country. More than 90 services provided by government departments have been identified that will be provided using mobile phones and other advanced technological tools. These developments, in addition to technological advancements supporting the entire digital framework, would further boost mobile wallet market in the country through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“UAE Mobile Wallet Market By Application, By End User, Competition Forecast & Opportunities, 2014 – 2022” has evaluated the future growth potential of the mobile wallet market and has also provided the statistics and information on market structure, size, share and future growth of the market. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing in the UAE mobile wallet market.

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