Add 2 More Reports For 20% off

Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Saudi Arabia Fintech Market Outlook

The Saudi Arabia fintech market size reached approximately USD 39.91 billion in 2023. The market is assessed to grow at a CAGR of 13.7% between 2024 and 2032 to attain a value of around USD 125.01 billion by 2032.

Key Trends in the Market

Fintech, variously known as financial technology, refers to the integration of different technologies into financial processes and services. It supports businesses and consumers to improve their financial operations. Fintech is revolutionising the investment, banking, and insurance sectors while enhancing consumers’ access to various financial services.

  • Some Saudi Arabia fintech market trends include advanced technology infrastructure in the country, the rising accessibility to cloud services and 5G network, and the growing demand for financial services, such as asset management, investments, and insurance, among others.
  • Saudi Arabia boasts a high number of various investors such as venture capitalists and ranks high on ease of doing business index and liberalised business regulations. Such factors, coupled with rapid digital transformation and rising foreign direct investments in fintech start-ups, are aiding the Saudi Arabia fintech market demand.
  • The Saudi Arabian government has also introduced various initiatives to build a technology-driven economy and create a cashless ecosystem. It has developed organisations such as Saudi Fintech to support fintech initiatives and encourage the use of fintech solutions by small and medium-sized enterprises.
  • Advancements in technologies like blockchain, hyper-automation, the Internet of things (IoT), artificial intelligence, and cloud computing, among others, are expected to revolutionise the Saudi Arabia fintech market growth in the forecast period. Such technologies can enhance the productivity of fintech firms, surge client engagement, automate various tasks, and improve the efficiency of various services.

Market Analysis

Based on deployment mode, the market is segmented into on-premises and cloud. On the basis of technology, the Saudi Arabia fintech market segmentation includes application programming interface (API), artificial intelligence, blockchain, robotic process automation, and data analytics, among others. By application, the market segmentation includes banking, trading, taxation, and insurance, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia fintech market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

  • Raqamyah Crowdfunding 
  • Sure Global Tech
  • Salfa 
  • SkyBand 
  • Nakhla Information Systems Technology Company (Tamara) 
  • Saudi Digital Payment Company 
  • HyperPay Inc. 
  • PayTabs Group 
  • Halalah Trading Company 
  • Others

Market Share by Application

As per the Saudi Arabia fintech market analysis, banking accounts for a significant market share due to the increasing number of smartphone payment transactions. Banks, government agencies, and corporations, among others, are also attempting to develop various fintech banking services such as lending, e-wallets, and financial transactions.

With the surging demand for enhanced convenience and accessibility among consumers, banks are increasingly deploying fintech solutions to provide seamless online services such as EMIs and bill payments, among others.

Market Share by Technology

APIs, also known as application programming interfaces, represent a major portion of the Saudi Arabia fintech market share. Fintech firms use APIs to develop new services and facilitate data exchange and sharing between different software to offer a comfortable experience to users. They also play an important role in the development of payment-processing solutions while automating processes like data governance and compliance checks.

Competitive Landscape

Raqamyah Crowdfunding, established in 2017, is a company that uses innovative technologies to connect SMEs seeking affordable and fast finance with financers. The company also supports financers to earn attractive returns, and its crowdlending financing platform is licensed by the Saudi Central Bank.

Sure Global Tech is a company that provides various solutions in the field of information security and technology. Established in 2004, it is one of the largest Saudi Arabian providers of consultative and technical solutions for both private and public enterprises. Through its new company SurePay, the company forayed into the fintech business.

Saudi Digital Payment Company is a fintech company that is engaged in the development of interoperable and secure national payment infrastructure. The company aims to create a digital economy by leveraging innovative technologies and providing secure and innovative digital financial services.

Other Saudi Arabia fintech market players include Salfa, SkyBand, Nakhla Information Systems Technology Company (Tamara), HyperPay Inc., PayTabs Group, and Halalah Trading Company, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Deployment Mode
  • Technology
  • Application
Breakup by Deployment Mode
  • On-premises
  • Cloud
Breakup by Technology
  • Application Programming Interface (API)
  • Artificial Intelligence
  • Blockchain
  • Robotic Process Automation
  • Data Analytics
  • Others
Breakup by Application
  • Banking
  • Trading
  • Taxation
  • Insurance
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Raqamyah Crowdfunding 
  • Sure Global Tech
  • Salfa 
  • SkyBand 
  • Nakhla Information Systems Technology Company (Tamara) 
  • Saudi Digital Payment Company 
  • HyperPay Inc. 
  • PayTabs Group 
  • Halalah Trading Company 
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 39.91 billion.

The market is assessed to grow at a CAGR of 13.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 125.01 billion by 2032.

The major market drivers are the rising demand for financial services, the advanced technology infrastructure of the country, and a high number of various investors in the country.

The key trends aiding the market are the surging demand for enhanced convenience and accessibility among consumers and technological advancements and innovations.

The major applications of fintech are banking, trading, taxation, and insurance, among others.

The significant deployment modes of fintech are on-premises and cloud.

The major players in the market are Raqamyah Crowdfunding, Sure Global Tech, Salfa, SkyBand, Nakhla Information Systems Technology Company (Tamara), Saudi Digital Payment Company, HyperPay Inc., PayTabs Group, and Halalah Trading Company, among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63-287-899-028, +63-967-048-3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124