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The Kenya Mobile Money Market to reach US$ 315.8 Billion by 2027, exhibiting a growth rate (CAGR) of 20.46% during 2022-2027.
SHERIDAN, WY, USA, September 20, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Kenya Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″ the Kenya mobile money market size reached US$ 89.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 315.8 Billion by 2027, exhibiting a growth rate (CAGR) of 20.46% during 2022-2027.
Mobile money is an online payment service that stores, manages, receives, and transmits money using different accounts linked with smartphones. It involves finding a provider, setting up an account, and entering account and recipient details as common steps to operate the application. As compared to conventional transaction methods, mobile money is a more secure, instant, easy to use, and flexible platform that enables users to perform person-to-person (P2P) monetary transfers. Apart from this, it operates under financial regulations, provides various pecuniary services to users during humanitarian disasters, and reduces corruption.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Get a Free Sample Copy of this Report: https://www.imarcgroup.com/kenya-mobile-money-market/requestsample
Kenya Mobile Money Market Trends:
One of the key factors driving the market growth in Kenya is the increasing proliferation of smartphone users and the rising need for secure online payment applications. Mobile money is widely adopted across several industrial verticals for business-to-business (B2B) transfers and bill payments. Moreover, the favorable initiatives being undertaken by the Republic of Kenya to promote the uptake of mobile money to achieve the objective of a cashless economy, improve tax collection, and ensure transparent transactions are propelling the market growth. Additionally, the extensive utilization of point-of-sale (POS) terminals by merchants and the advent of near-field communication (NFC) smart cards to ensure faster transactions are favoring the market growth. Apart from this, the increasing internet penetration, lack of financial institutions across the country, and strategic collaborations amongst key players to launch mobile money with enhanced security features are supporting the market growth.
Competitive Landscape with Key Players:
The competitive landscape of the Kenya Mobile Money Market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• M-Pesa (Vodafone Group) • Equitel Inc. • MobiKash Afrika Limited • Airtel Money
The report has segmented the Kenya Mobile Money Market on the basis of technology, business model, transaction type.
• Mobile Led Model • Bank Led Model
• Peer to Peer • Bill Payments • Airtime Top-ups • Others
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1446&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021) • Market Outlook (2022-2027) • Market Trends • Market Drivers and Success Factors • Impact of COVID-19 • Value Chain Analysis • Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson IMARC Services Private Limited +1 6317911145 email us here
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