Kenya’s Prepaid Card and Digital Wallet Markets Forecasted to Surge Through 2028
Dublin, May 21, 2024 (GLOBE NEWSWIRE) — The “Kenya Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The prepaid card and digital wallet sectors in Kenya have exhibited significant growth, according to the latest industry data. With a robust compound annual growth rate (CAGR) of 16.5% from 2019-2023, the market’s expansion is projected to continue at an even more accelerated pace of 18.9% from 2024 to 2028. This surge is expected to see the market’s valuation rise from US$1.70 billion in 2023 to an impressive US$4.12 billion by the year 2028.
Consumer Insights and Spend Dynamics
The comprehensive analysis that has been conducted emphasizes not only market size and forecasts but also provides a deep dive into consumer attitudes, behavior, and spending patterns. Insights into retail spend across various categories highlight the evolving dynamics of consumer engagement with prepaid cards and digital wallets.
Segment Analysis
Market segmentation analysis reveals trends in key areas such as virtual prepaid cards, open loop, and closed loop prepaid cards, providing valuable data on the number of cards in circulation, transaction volumes, load values, and transaction values. Further breakdowns illustrate consumer usage trends across demographic groups such as age, income level, and gender, presenting a nuanced understanding of the market.
Industry Competitiveness
The landscape of the prepaid card and digital wallet market in Kenya is marked by competition and innovation. With market share analysis, stakeholders can grasp the competitive environment and key players’ performance within various prepaid card segments. This includes general purpose prepaid cards, as well as sector-specific offerings like travel forex, meal, and business and administrative expense cards.
Strategic Market Insights
This analysis serves as a valuable resource for formulating informed strategies and capitalizing on identified growth sectors within Kenya’s prepaid card and digital wallet markets. By analyzing key performance indicators and understanding consumer and retail trends, industry participants can optimize their market positioning and enhance their strategic decision-making.
Industry professionals and market observers can anticipate a continued upward trajectory for the prepaid card and digital wallet sectors in Kenya, driven by advances in technology, evolving consumer preferences, and an expanding financial services marketplace.
For more information about this report visit https://www.researchandmarkets.com/r/a9fbfx
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