DUBLIN--(BUSINESS WIRE)--The "Africa & Middle East Buy Now Pay Later Business and Investment Opportunities - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics - Q3 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The BNPL payment industry in Africa & Middle East has recorded strong growth over the last four quarters, supported by increased ecommerce penetration along with the impact of economic slowdown due to disruption caused by Covid-19 outbreak.
According to the publisher, BNPL payments in the region are expected to grow by 74.6% on an annual basis to reach US$13,053.4 million in 2022.
Medium to long term growth story of BNPL industry in Africa & Middle East remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 36.1% during 2022-2028. The BNPL Gross Merchandise Value in the region will increase from US$7,475.3 million in 2021 to reach US$82,971.0 million by 2028.
BNPL providers are targeting the B2B segment to drive the next growth phase in South Africa
Globally, BNPL providers are targeting the B2B segment to drive the next growth phase after gaining widespread popularity among consumers over the last two years. Similar trends are visible in South Africa, where BNPL providers target the B2B segment in 2022.
As the credit demand among SMEs grows in South Africa in times of global economic uncertainties, the publisher expects more firms to enter into the B2B BNPL segment in South Africa in short to medium-term.
The global pandemic-induced lockdowns and social distancing measures accelerated the consumer shift to online payment and other digital financial services. Following the worldwide pandemic epidemic, markets like Saudi Arabia also have experienced a rapid increase in short-term credit options, such as buy now pay later (BNPL).
While Gen Z and millennials have been the early adopters of the BNPL payment method in Saudi Arabia, the trend is expected to accelerate among consumers across different age groups over the next three to four years.
Domestic BNPL firms are considering regional expansion to drive market share and growth
In 2022, the adoption of deferred payment services is expected to grow significantly, especially in the United Arab Emirates. Consequently, domestic BNPL firms are considering regional expansion to capitalize on the high growth potential of the Middle Eastern BNPL industry.
UAE-based BNPL startups are raising funding rounds to support the expansion of their firm across the region
The BNPL market is expected to record accelerated growth amid growing consumer demand in the Middle East and North Africa region. Consequently, firms are raising funding rounds to capitalize on the trend and expand their market share by extending their presence in more Middle Eastern countries.
Scope
Country reports in this bundled offering provide in-depth analysis of Buy Now Pay Later industry. Below is a summary of key market segments:
BNPL Market Size and Spending Pattern
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later Operational KPIs
- Buy Now Pay Later Revenues, 2019 - 2028
- Buy Now Pay Later Share by Revenue Segments
- Buy Now Pay Later Merchant Commission, 2019 - 2028
- Buy Now Pay Later Missed Payment Fee Revenue, 2019 - 2028
- Buy Now Pay Later Pay Now & Other Income, 2019 - 2028
- Buy Now Pay Later Accounts, 2019 - 2028
Buy Now Pay Later Market Share Analysis by Key Players (40+Players)
Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
- Online Channel
- POS Channel
Buy Now Pay Later in Retail Shopping: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Home Improvement: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Other: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Reasons to buy
- In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.
- Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.
Companies Mentioned
- valU
- Fawry
- Valeo
- Sympl
- Splitit
- Jifiti
- Sunbit Israel
- Charge After
- Fundbox
- Aspira
- Lipa Later
- Miti
- Flexpay Technologies
- Julla
- PayQart
- CD Care
- Buynowpaylater.com
- Jumia Flex
- Carnon
- Tabby
- Tamara
- Cashew Payments
- Spotii
- Postpay
- Mobicred
- More Tyme
- Payflex
- Pay Just Now
- PayUp
- Tabby
- Zip
- Spotii
For more information about this report visit https://www.researchandmarkets.com/r/pag3e1
