The latest report published by IMARC Group, titled “Ghana 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 Ghana mobile money market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Ghana mobile money market size reached a value of US$ 92 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 494 Billion by 2027, exhibiting a CAGR of 32.5% during 2022-2027.
Industry Overview and Application:
Mobile Money is a digital technology that allows to store, send, and receive cash using different accounts or phone numbers linked with smartphones. It is an unaffiliated privately owned facility that is mainly operated by mobile money operators. Currently, mobile money employs various wireless technologies, such as quick response (QR) code scanning, near-field communication (NFC), and SMS-based transactional payment methods. These methods allow instant transactions, reduce fraudulent activities, including corruption or data breaching and provide pecuniary services. Consequently, mobile money is used to perform person-to-person (P2P) and business-to-business (B2B) transactions.
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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Ghana Mobile Money Market Trends:
The Ghana mobile money market is primarily driven by the increasing need for secured online payment applications that can help with cash transactions, top-ups, bill payments, ticketing, and purchasing goods. Additionally, the rising penetration of high-speed internet connectivity, expansion in the mobile money agent network, and the extensive uptake of mobile devices are favoring the market growth. Moreover, the introduction of EMI (electronic money issuers) guidelines and mobile money interoperability for enhancing the efficiency and accessibility of money transfers through various applications are propelling the market growth. Furthermore, the implementation of favorable regulations by the Ghana government to promote the usage of mobile money systems to eliminate the risks of money laundering and theft is propelling the market growth. Other factors, such as rapid digitization, steadfast advancements in the banking, financial services, and insurance (BFSI) sector, and the integration of artificial intelligence (AI) and big data solutions, are supporting the market growth.
Ghana Mobile Money Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the Ghana 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:
Key Market Segmentation:
The report has segmented the Ghana mobile money market on the basis of technology, business model, transaction type.
Breakup by Technology:
Breakup by Business Model:
Breakup by Transaction Type:
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Key Highlights of the Report:
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