Africa & Middle East Buy Now Pay Later Business Report 2024: BNPL GMV will Increase from $12.6 Billion in 2023 to Reach $32.6 Billion by 2029 - Firms are Raising Capital to Meet the Growing Demand

DUBLIN, Feb. 16, 2024 /PRNewswire/ -- The "Africa & Middle East Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q1 2024 Update" report has been added to  ResearchAndMarkets.com's offering.

BNPL payments in the region are expected to grow by 22.4% on an annual basis to reach US$15.5 billion in 2024.

The medium to long-term growth story of the BNPL industry in the region remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 16.1% during 2024-2029. The BNPL gross merchandise value in the region will increase from US$12.6 billion in 2023 to reach US$32.6 billion by 2029.

The comprehensive landscape of the Buy Now Pay Later (BNPL) industry in Africa and the Middle East is expected to achieve significant growth in the upcoming years, according to a newly added research publication on our website. As a pivotal financial mechanism, BNPL is revolutionizing consumer credit systems by allowing more flexible payment options for shoppers in various sectors.

Exponential Growth Anticipated in BNPL Sectors Across Diverse Markets

The latest research offering brings to light the buoyant expansion of the BNPL market within these regions, with an anticipated annual growth rate of 22.4%, projecting a market size of US$15.5 billion by 2024. This ascent reflects the increasing acceptance of BNPL services among a wide demographic base in these rapidly evolving economies.

Strategic Investments and Partnerships Fuel Market Evolution

Key findings from the multi-report databook suggest that BNPL firms are embarking on massive capital-raising ventures, carving a path for installment payment solutions to flourish, especially within the Middle East's competitive landscape. These financial inflows are anticipated to catalyze innovation and meet the surging consumer credit demand.

Lucrative Opportunities Identified Across End-Use Sectors

In-depth analyses indicate a diversified spread of BNPL adoption across several end-use industries, ranging from retail shopping to travel, and from healthcare to automotive services. The granular examination of over 75 KPIs across different countries provides stakeholders with a well-rounded understanding of market dynamics and consumer behavior within the sector.

Banking and Regulatory Frameworks Adapt to Consumer Adoption Uptrends

The reports also lay emphasis on the evolving regulatory landscapes in countries like the UAE and Saudi Arabia. Central Banks are revising policies to accommodate and supervise the burgeoning BNPL services while ensuring consumer protection and market sustainability. This alignment between fintech innovation and regulatory oversight is poised to support long-term market growth.

Enhanced Market Share Analysis by Leading BNPL Providers

• Detailed segmentation of BNPL services by business models, sales channels, and distribution models offers a thorough market share analysis.
• Strategic alliances in the African market such as those in South Africa point towards increased coverage and distribution of BNPL services across the continent.

Consumer Attitudes and Spending Patterns Underpinning Growth Trajectory

Nuanced insights into consumer attitudes underscore the potential for accelerated adoption of BNPL services, with data outlining key demographic segments, spending patterns, and transactional behaviors. This understanding aids businesses in tailoring their strategies to consumer needs and preferences, as well as preparing for anticipated shifts in the marketplace.

The aggregated data spanning eight key regional reports underscores the fast-paced environment of BNPL transactions in Africa and the Middle East. Stakeholders, investors, and financial institutions are offered a rich repository of data, insights, and forecasts, helping to navigate the Buy Now Pay Later landscape with confidence and strategic foresight.

As e-commerce platforms continue to see a surge in consumer traffic and evolving shopping habits, the BNPL model is set to play an instrumental role in shaping the future of online and offline retail experiences. Business leaders and decision-makers equipped with this new research are better positioned to capitalize on emerging trends within the BNPL ecosystem.

A Bundled Offering Combining 8 Reports - 1 Regional Databook and 7 Country Databooks

• Africa & Middle East Buy Now Pay Later Business and Investment Opportunities (2020-2029) 
• Egypt Buy Now Pay Later Business and Investment Opportunities (2020-2029) 
• Israel Buy Now Pay Later Business and Investment Opportunities (2020-2029)
• Kenya Buy Now Pay Later Business and Investment Opportunities (2020-2029)
• Nigeria Buy Now Pay Later Business and Investment Opportunities (2020-2029)
• Saudi Arabia Buy Now Pay Later Business and Investment Opportunities (2020-2029)
• South Africa Buy Now Pay Later Business and Investment Opportunities (2020-2029)
• United Arab Emirates Buy Now Pay Later Business and Investment Opportunities (2020-2029) 

Scope

BNPL Market Size and Spending Pattern, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later Revenue Analysis, 2020-2029

• Buy Now Pay Later Revenues
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Revenue by Merchant Commission
• Buy Now Pay Later Revenue by Missed Payment Fee Revenue
• Buy Now Pay Later Revenue by Pay Now & Other Income

Buy Now Pay Later Operational KPIs & Statistics, 2020-2029

• Buy Now Pay Later Active Consumer Base
• Buy Now Pay Later Bad Debt

BNPL by Purpose, 2020-2029

• Convenience - Short Term Loans
• Credit - Long Term Loans

BNPL by Business Model, 2020-2029

• Two-Party (BNPL offered by retailers)
• Three-Party BNPL Offering

BNPL by Merchant Ecosystem, 2020-2029

• Open Loop System
• Closed Loop System

BNPL by Distribution Model Analysis, 2020-2029

• Standalone
• Banks & Payment Service Providers
• Marketplaces

Buy Now Pay Later Market Share Analysis by Key Players

BNPL Analysis by Channel, 2020-2029

• Online Channel
• POS Channel

Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029

• 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, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029

• 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, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Others: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Sales Uplift by Product Category
• Share by Age Group
• Share by Income
• Share by Gender
• Adoption Rationale
• Average Monthly Expense segments

For more information about this report visit https://www.researchandmarkets.com/r/kgl76g

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