$20+ Billion Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend 2019-2028 - ResearchAndMarkets.com.

Prepaid card market (value terms) in Nigeria increased at a CAGR of 14.9% during 2019-2023. Over the forecast period of 2024 to 2028, the market is expected to record a CAGR of 16.3%, increasing from US$9.20 billion in 2023 to reach US$20.16 billion by 2028.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Nigeria. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

The prepaid card and digital wallet industry is analyzed comprehensively, providing a detailed view of market size and structure, industry dynamics, market trends, consumer attitudes and behaviors, and the competitive landscape. Digital wallet segments are evaluated based on value, volume, and average transaction value across five key spend categories: retail, travel, entertainment and gaming, restaurant, and recharge and bill payment. This segmentation helps identify primary usage areas and spending patterns of consumers using digital wallets.

Open loop and closed loop prepaid cards are assessed with market estimates and forecasts across 12 segments. The analysis details four essential KPIs: the number of cards in circulation, number of transactions, load value, and transaction value, offering a comprehensive view of the prepaid card market's potential.

A detailed market share analysis by key players in the prepaid card market is included, identifying leading competitors and their market positions. Consumer attitudes and behaviors are drawn from proprietary survey results, identifying and interpreting key prepaid KPIs, including spend by age, gender, and income level. Retail spend is broken down across 11 categories to provide detailed insights into consumer behavior and the changing dynamics of prepaid card spending, offering a granular view of how and where consumers are using prepaid cards.

SOURCE: AGENCIES