Middle East Fintech Market Growth, Size, Trends, Share, Revenue, Demand and Future Outlook

Middle East Fintech Market Size– By Service proposition- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Middle East Fintech Market Size– By Service proposition- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Jan 2024 Report ID: BFSI2406 Pages: 1 - 157 Formats*:     
Category : BFSI
Middle East Fintech Market Introduction and Overview 

According to SPER Market Research, the Middle East Fintech Market is estimated to reach USD XX billion by 2033 with CAGR of 10.26%.  

The report includes an in-depth analysis of the Middle East Fintech Market, including market size and trends, product mix, applications, and supplier analysis. A portmanteau of "financial technology," "fintech" describes businesses that use new technology to supply financial services in competition with more established financial ways. Big data, blockchain, cloud computing, and artificial intelligence are considered the "ABCD" (four essential areas) of fintech. Technologies aimed at improving public accessibility to financial services include the use of smartphones for mobile banking, investing, borrowing, and crypto currencies.

  • October 2022: Forbes Middle East reports that Tamara had three million active users as of October 2022, having completed transactions of USD 267 million in 2021.
  • June 2022: The company most recently unveiled PayTabs SwitchOn, an integrated payments and transaction processing platform, PT Touch, the first SoftPOS solution in MENA, and Paymes, a social commerce network to facilitate payments for small companies. 
Middle East Fintech Market
Market Opportunities and Challenges

The Middle East and North Africa's financial sector greatly benefits from fintech services. In the Middle East and North Africa, startups find refuge in the fintech sector. By 2022, there will be roughly 465 financial startups in the Middle East. There were fifteen fintech companies operating in Jordan, Egypt, and Lebanon—seventeen in Lebanon and fifteen in Jordan. UAE was home to the corporate offices of all five of the top-financed insurance companies. The success of the United Arab Emirates has increased the opportunities for insurtech and insurance to grow in the Middle East. Prospective insurance options could help close those disparities, especially in the United Arab Emirates, where most low-wage workers lack insurance.

The dynamic nature of the fintech sector frequently presented regulatory obstacles for these organizations. While regulatory frameworks were being built, the rate of development differed among the region's nations. Regulations and compliance standards that are unclear could provide challenges and impede the expansion of fintech companies. There were issues in some Middle Eastern regions because they lacked sophisticated financial infrastructure. This includes problems including uneven degrees of technological adoption, poor financial infrastructure, and restricted access to digital payment systems. Financial services are becoming more digitalized, which has increased the industry's vulnerability to cybersecurity attacks. In order to safeguard client data and foster confidence, fintech companies have to make large investments in strong security measures.

Middle East Fintech Market


Market Competitive Landscape
The entertainment and leisure market in the United Arab Emirates has a thriving and dynamic competitive landscape. Numerous domestic and foreign businesses are vying for a piece of this profitable market. The entertainment and leisure market is made up of a number of industries, such as movie theatres, water parks, indoor theme parks, arcades, live events, concerts, sports events, and more. Leading companies in the film business provide cutting edge theatres with cutting edge technology and first access to new movies. Some of major players are Tamara, Liv. ,Pepper, PayTabs, Tabby, Sarwa, Ila Bank, Bayzat, Eureeca, Cwallet and various others.

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments coveredBy Service proposition
 Regions covered
Bahrain, Egypt, Iran, Israel, Qatar, Saudi Arabia, United Arab Emirates, Rest of MENA

 Companies CoveredTamara, Liv. , Pepper, PayTabs, Tabby, Sarwa, Ila Bank, Bayzat, Eureeca, Cwallet and various others.
COVID-19 Impact on Middle East Fintech Market
The epidemic hastened the uptake of online shopping and digital financial services. Lockdowns and other social distancing measures caused people to migrate to digital platforms for financial services such as banking and payment processing. Regulations have changed in a few places to make room for the expansion of digital banking and fintech. Governments realized how crucial fintech was to keeping financial services running during the pandemic and accelerating the recovery of the economy. A change in consumer behaviour was brought about by the crisis, with more consumers adopting online banking and digital payments. Adoption of fintech companies with creative solutions and intuitive platforms surged.

Key Target Audience:
  • Tourists
  • Entrepreneurs and Small Businesses
  • Government and Regulatory Bodies
  • Financial Institutions and Banks
  • Retail Consumers
  • Corporate Sector
  • Insurance Sector
  • Islamic Finance Community
  • E-commerce and Retail Industry
  • Media and Advertising Agencies
Our in-depth analysis of the Middle East Fintech Market includes the following segments:
By Service proposition:
  • Digital Lending & Lending Marketplaces
  • Money Transfer and Payments
  • Online Insurance & Insurance Marketplaces
  • Savings and Investments
  • Other Service Propositions
  • By Region:
  • Bahrain
  • Egypt
  • Iran
  • Israel
  • Qatar
  • Saudi Arabia
  • United Arab Emirates
  • Rest of MENA
  • Key Topics Covered in the Report:
    • Middle East Fintech Market Size (FY’2023-FY’2033)
    • Overview of Middle East Fintech Market
    • Segmentation of Middle East Fintech Market By Service Proposition (Digital Lending & Lending Marketplaces, Money Transfer and Payments, Online Insurance & Insurance Marketplaces, Savings and Investments, Other Service Propositions)
    • Statistical Snap of Middle East Fintech Market 
    • Expansion Analysis of Middle East Fintech Market 
    • Problems and Obstacles in Middle East Fintech Market 
    • Competitive Landscape in the Middle East Fintech Market 
    • Impact of COVID-19 and Demonetization on Middle East Fintech Market 
    • Details on Current Investment in Middle East Fintech Market 
    • Competitive Analysis of Middle East Fintech Market 
    • Prominent Players in the Middle East Fintech Market 
    • SWOT Analysis of Middle East Fintech Market
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Middle East Fintech  Market 

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Middle East Fintech  Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East Fintech  Market 

    7. Middle East Fintech  Market, By Service proposition (USD Million)
    7.1. Middle East Fintech  Market Value Share and Forecast, By Service proposition, 2023-2033
    7.2. Digital Lending & Lending Marketplaces
    7.3. Money Transfer and Payments
    7.4. Online Insurance & Insurance Marketplaces
    7.5. Savings and Investments
    7.6. Other Service Propositions

    8. Middle East Fintech  Market  Forecast, 2019-2033 (USD Million)
    8.1. Middle East Fintech  Market  Size and Market Share

    9. Middle East Fintech Market, By Service proposition, 2019-2033 (USD Million)
    9.1. Middle East Fintech Market Size and Market Share By Service proposition (2019-2026)
    9.2. Middle East Fintech Market Size and Market Share By Service proposition (2027-2033)

    10. Middle East Fintech  Market, By Region, 2019-2033 (USD Million)
    10.1. Middle East Fintech  Market Size and Market Share By Region (2019-2026)
    10.2. Middle East Fintech  Market Size and Market Share By Region (2027-2033) 
    10.3. Bahrain
    10.4. Egypt
    10.5. Iran
    10.6. Israel
    10.7. Qatar
    10.8. Saudi Arabia
    10.9. United Arab Emirates
    10.10. Rest of MENA 

    11. Company Profile
    11.1.  Bayzat
    11.1.1. Company details
    11.1.2. Financial outlook
    11.1.3. Product summary 
    11.1.4. Recent developments
    11.2. Cwallet
    11.2.1. Company details
    11.2.2. Financial outlook
    11.2.3. Product summary 
    11.2.4. Recent developments
    11.3. Eureeca
    11.3.1. Company details
    11.3.2. Financial outlook
    11.3.3. Product summary 
    11.3.4. Recent developments
    11.4. Liv
    11.4.1. Company details
    11.4.2. Financial outlook
    11.4.3. Product summary 
    11.4.4. Recent developments
    11.5. PayTabs
    11.5.1. Company details
    11.5.2. Financial outlook
    11.5.3. Product summary 
    11.5.4. Recent developments
    11.6. Pepper
    11.6.1. Company details
    11.6.2. Financial outlook
    11.6.3. Product summary 
    11.6.4. Recent developments
    11.7. Sarwa 
    11.7.1. Company details
    11.7.2. Financial outlook
    11.7.3. Product summary 
    11.7.4. Recent developments
    11.8. Tabby
    11.8.1. Company details
    11.8.2. Financial outlook
    11.8.3. Product summary 
    11.8.4. Recent developments
    15.9  Tamara
    15.9.1 Company details
    15.9.2 Financial outlook
    15.9.3 Product summary 
    15.9.4 Recent developments 
    15.20  Others

    16 List of Abbreviations

    17 Reference Links

    18 Conclusion

    19 Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Middle East Fintech Market is projected to reach USD XX Billion by 2033, growing at a CAGR of 10.26% during the forecast period.
    Middle East Fintech Market grew in market size from 2023. The Market is expected to reach USD XX Billion by 2033, at a CAGR of 10.26% during the forecast period.
    Middle East Fintech Market CAGR of 10.26% during the forecast period.
    You can get the sample pages by clicking the link -Click Here
    Middle East Fintech Market size is USD XX Billion from 2023 to 2033.
    Middle East Fintech Market Segment is Covered By Service proposition
    The Middle East region is anticipated to have the highest market share in Middle East Fintech Market.
    The key players in the market include Companies Covered Tamara, Liv. , Pepper, PayTabs, Tabby, Sarwa, Ila Bank, Bayzat, Eureeca, Cwallet and various others.
    portmanteau of "financial technology," "fintech" describes businesses that use new technology to supply financial services in competition with more established financial ways.
    Not able to find what you are looking for? Need customization in the existing report?
    Click Here

    Join Our SPER Panel

    Our Global Clients

    Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
    SPER-Astellas Pharma
    SPER-Citi Bank
    SPER-Microsoft
    SPER-EY
    SPER-Sanofi
    SPER-p&g
    SPER-Johnson & Johnson
    SPER-SIEMENS
    SPER-LOREAL
    SPER-Pfizer
    SPER-IPSOS
    SPER-Heineken
    SPER-IQVIA
    SPER-Kankar IMRB
    SPER-PWC
    SPER-Astellas Pharma
    SPER-Citi Bank
    SPER-Microsoft
    SPER-EY
    SPER-Sanofi
    SPER-p&g
    SPER-Johnson & Johnson
    SPER-SIEMENS
    SPER-LOREAL
    SPER-Pfizer
    SPER-IPSOS
    SPER-Heineken
    SPER-IQVIA
    SPER-Kankar IMRB
    SPER-PWC

    SPER

    Market Research

    We are the leading, full-service global market research and consulting company.

    Certificates
    iso-1 iso-1 iso-1 ESOMAR
    Secure Payments
    SPER Payment Options
    Contact HR

     [email protected]

     +91-742-898-5650