The latest report published by IMARC Group, titled “Tanzania Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the Tanzania mobile money market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Tanzania mobile money market size reached a value of US$ 54.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 120.4 Billion by 2027, exhibiting a CAGR of 14.2% during 2022-2027.
Industry Overview and Application:
Mobile money is a type of electronic wallet service that enables users to send, manage, and receive capital with the help of internet-enabled smartphones. As compared to conventional transactions, mobile money is secure, easy to use, hassle-free, and can be accessed from any location within proximity to the mobile signal range. Apart from this, it does not require cash, cheques, and credit/debit cards for money transfers and eliminates the risk of various fraudulent activities. As a result, mobile money is gaining immense traction amongst users to transfer, deposit, or withdraw funds between banks or accounts and pay bills for various goods and services.
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.
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Tanzania Mobile Money Market Trends:
The increasing proliferation of mobile phones and internet users, and the increasing demand for secured monetary transaction platforms, especially during the COVID-19 pandemic, to perform contact-less payments are attributing to the mobile money market growth. Such technologies enable service providers to exchange and utilize account holders’ information for executing money transfers instantly without any inconvenience. Moreover, the widespread use of mobile money accounts for storing, borrowing, and insuring funds, as well as accessing various financial services offered by mobile operators, such as mobile insurance, micro-loans, medical coverage, and credit services, is propelling the market growth. Furthermore, the numerous initiatives being undertaken by banking institutions to sensitize consumers regarding the availability of several financial services and their benefits are contributing to market growth.
Tanzania Mobile Money Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the tanzania 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 (Vodacom Tanzania Limited)
- Tigo Tanzania (MIC Tanzania Public Limited Company)
- Airtel Money Tanzania Limited
Key Market Segmentation:
The report has segmented the tanzania mobile money market on the basis of technology, business model and transaction type.
Breakup by Technology:
- USSD
- Mobile Wallets
- Others
Breakup by Business Model:
- Mobile Led Model
- Bank Led Model
Breakup by Transaction Type:
- Peer to Peer
- Bill Payments
- Airtime Top-ups
- Others
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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.
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