Uganda Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others), and Region 2024-2032
The Uganda mobile money market size reached US$ 104.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 960.1 Billion by 2032, exhibiting a growth rate (CAGR) of 27.1% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 104.7 Billion
Market Forecast in 2032
US$ 960.1 Billion
Market Growth Rate 2024-2032
27.1%
Mobile money allows subscribers to transfer money and make payments for services and products via mobile phones. Mobile money is gaining popularity in Uganda as they offer enhanced security features and convenience to users.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Mobile money adoption is growing at a strong pace in Uganda. In an underdeveloped financial infrastructure in the country with a large number of people having no formal bank account, the mobile money market in Uganda leverages the ubiquity of mobile phones and the convenience offered by the service to the consumers. Mobile money facilitates faster money transfer, safe and secure transaction, affordability and cross border money transfer. Increasing internet penetration in the country has also supported the growth of the market. Mobile money in Uganda has overtaken cash pick-up and bank deposits as the favored method to receive money. Moreover, increasing awareness, urbanization and ever-changing technology has further encouraged the adoption of mobile money services in the country. The ease of using an application on mobile phones for making a transaction have made people familiar with the innovations, thereby fueling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Uganda mobile money market report, along with forecasts for the period 2024-2032. Our report has categorized the market based on technology, business model and transaction type.
Breakup by Technology:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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USSD
Mobile Wallets
Others
Currently, USSD holds majority of the market share in the Uganda mobile money market.
Breakup by Business Model:
Mobile Led Model
Bank Led Model
Currently, mobile led model holds the largest share in the Uganda mobile money market.
Breakup by Transaction Type:
Peer to Peer
Bill Payments
Airtime Top-ups
Others
Currently, peer to peer transaction type holds the highest share in the market.
Competitive Landscape:
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:
MTN Group Limited (MTN Uganda)
Bharti Airtel Limited
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Technology, Business Model, Transaction Type
Companies Covered
MTN Group Limited (MTN Uganda) and Bharti Airtel Limited
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The Uganda mobile money market was valued at US$ 104.7 Billion in 2023.
We expect the Uganda mobile money market to exhibit a CAGR of 27.1% during 2024-2032.
The rising internet penetration, along with the increasing consumer awareness towards various benefits associated with mobile money, such as ease of accessibility, 24/7 availability, security, lower transaction costs, etc., is primarily driving the Uganda mobile money market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of mobile money over conventional cash-based methods across the nation for conducting financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.
Based on the technology, the Uganda mobile money market has been segmented into USSD, mobile wallets, and others. Currently, USSD holds the majority of the total market share.
Based on the business model, the Uganda mobile money market can be divided into mobile led model and bank led model, where mobile led model currently exhibits a clear dominance in the market.
Based on the transaction type, the Uganda mobile money market has been categorized into peer to peer, bill payments, airtime top-ups, and others. Currently, peer to peer accounts for the largest market share.
Some of the major players in the Uganda mobile money market include MTN Group Limited (MTN Uganda) and Bharti Airtel Limited.
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