Report : Middle East and Africa Social Trading Platform Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (PC and Mobile), End User (Individual Traders and Professional Traders), and Asset Class (Equity, Commodity, Derivatives, Crypto, and Other)
The equity segment by asset class is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Social Trading Platform Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Platform, End-User, Asset Class, and Country.” The Middle East and Africa social trading platform market is expected to reach US$ 222.68 million by 2028 from US$ 148.88 million in 2021; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa social trading platform market and the factors driving market along with those that act as hindrances.
With the growing population, the number of internet users increased significantly. There are almost 4.7 million internet users worldwide, i.e., 59% of the global population is net-savvy, as per the article published by the DataReportal in January 2021. Among these, 92.6% (4.3 million) users access the internet through mobile devices. The UAE, Denmark, and Sweden are a few countries with the highest internet penetration rate.
A few Middle East & Africa countries, such as Qatar, Oman, and Kuwait, are still in the starting phase of digitalization and the internet penetration is relatively low. However, with increasing awareness, the number is increasing continuously. The significant surge in the internet user base enables industries to transform their business to the digital platform. Therefore, trading companies opt for social trading with the growing internet use, which is a cost-effective approach for trading. Also, during the COVID-19 outbreak, conducting online trading was the best-suitable medium. Thus, growing internet usage will create a massive opportunity for the online trading platform market players.
The Middle East and Africa social trading platform market is segmented into platform, end-user, asset class, and country. On the basis of the platform, the market is bifurcated into PC and mobile. On the basis of end-user, the market is segmented into individual traders and professional traders. Based on asset class, the market is segmented into equity, commodity, derivatives, crypto, and others. Geographically, the market is segmented into the UAE, Saudi Arabia, South Africa, and the rest of the Middle East and Africa.
eToro, A-Trade, MetaQuotes, and PrimeXBT are among the leading companies operating in the Middle East and Africa social trading platform market.
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