( MENAFN - GlobeNewsWire - Nasdaq) UAE BNPL market skyrockets to $14.6 billion by 2027, fueled by 43.8% CAGR & e-commerce boom.
Fashion & electronics lead (45% share). Millennials & Gen Z drive usage (68%). Report empowers stakeholders for responsible, tech-driven, and collaborative BNPL growth in UAE.
Gurugram, India, May 23, 2024 (GLOBE NEWSWIRE) -- The United Arab Emirates Buy Now, Pay Later (BNPL) market is on a phenomenal growth trajectory! Ken Research's report, UAE Buy Now, Pay Later Market Outlook to 2027: A $14.6 Billion Boom Fueled by Digital Transformation , explores this dynamic landscape. The report predicts a stellar future, with the market value expected to reach a staggering $14.
6 billion by 2027 , propelled by a robust 43.8% CAGR . This press release unveils the key factors driving this surge and offers valuable insights for BNPL providers, merchants, consumers, and stakeholders seeking to capitalize on the opportunities within the UAE's BNPL market.
E-commerce Boom Propels BNPL Adoption: A significant driver of the UAE BNPL market is the country's thriving e-commerce sector. Rising internet penetration, increasing smartphone usage, and a growing preference for online shopping are creating a fertile ground for BNPL adoption. Consumers appreciate the convenience and flexibility offered by BNPL services, allowing them to spread out payments for their online purchases.
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