Potential for Fintech Growth: The Emirates has established fintech adoption and growth as its central national priority, shaping the path for digital financial services to become a profound innovation that would modernize the region’s financial status. Fintech in the UAE will be a phenomenal sector reflecting the nation’s regional progress.
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Growing Digital Advancements: Dealers wants to reach online-first car shoppers by investing in an all-encompassing digital marketing solution that leverages mobile, location, and social media. Automotive Financing Companies are increasingly moving towards higher technological advancements to improve operational profits as well as customer experience like, smartTRADE, a Shariah Compliant trade platform designed to facilitate fast and efficient Trade Finance transactions that reduce turnaround time, save operating costs and make international trade financing easy, efficient and secure. Furthermore, Most of the Business Banking active customer base have been on-boarded on “businessONLINE”- the all-new and state-of- the-art comprehensive online banking platform and mobile app, designed for SMEs & Corporate Clients.
Increase in Private Car Services: Large number of people in the UAE are now preferring privately hired cars, as the increase in the oil prices, traffic fines, unavailability of auto parts has resulted in the lower number of potential buyers, leading to a potential increase in the financing of private car services in future. Furthermore, there is also increase in the green car loans, Electric vehicles are an emerging segment in the UAE, as the leading the way for green loans in the country.
Analysts at Ken Research in their latest publication “UAE Auto Finance Market Outlook to 2026F - Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities” by Ken Research observed that UAE Auto Finance Market is in the growing phase. The Potential for Fintech Growth, growing digital advancement, rising automobile demand, flexible model of financing and government initiatives, are some of the factors that will contributed to the UAE Auto Finance market growth over the period of 2021-2026F. It is expected that UAE Auto Finance Market will grow at a CAGR of ~17% for the above forecasted period.
Key Segments Covered:-
UAE Auto Finance Market
By Category of Lenders (by Credit disbursed), 2021 & 2026F
Captive Financing CompaniesUniversal and Commercial BanksNBFCsBy Type Of Vehicles (by Credit disbursed), 2021 & 2026F
Two WheelersThree WheelersFour WheelersBy Type of Ownership (by Credit disbursed), 2021 & 2026F
Used CarsNew CarsBy Category of Vehicles (by Credit disbursed), 2021 & 2026F
Passenger VehiclesCommercial VehiclesBy Duration of Loan (by Credit disbursed), 2021 & 2026F
12 – 14 months25 – 48 months49 – 60 monthsKey Target Audience:-
Banks and its SubsidiariesNBFCsCaptive Finance CompaniesGovernment and InstitutionsAutomobile CompaniesCar DealersGovernment and InstitutionsExisting Auto Finance CompaniesOEM DealershipsNew Market EntrantsInvestorsAuto mobile AssociationsVisit this Link: - Request for custom report
Time Period Captured in the Report:-
Historical Period: 2016-2020Base Year: 2021Forecast Period: 2022 – 2026FCompanies Covered:-
Dubai Islamic BankCommercial Bank of DubaiEmirates NBDHSBCNoor BankAbu Dhabi Islamic BankAl Hilal BankAjman BankADCB Islamic BankArab BankRakBankSharjah Islamic BankEmirates Islamic BankFirst Abu Dhabi BankMashreq BankDunia FinanceReem FinanceSiraj FinanceFinance HouseDubai FirstKey Topics Covered in the Report:-
Executive Summary for UAE Auto Finance Market Outlook to 2026FCountry Overview of UAEUAE Auto Finance Market Overview and GenesisEcosystem of Major Entities in UAE Auto Finance MarketUAE Automotive Market - Major OEM Brands basis Passenger Car SalesObjectives of CaptivesTypes of Car Loans in UAE Auto Finance IndustryValue Chain of UAE Auto Finance IndustryUAE Auto Finance Market SizeUAE Auto Finance Market SegmentationsIndustry Analysis of UAE Auto Finance MarketDecision Making Parameters for selecting Auto Finance VendorsTrends and Developments in UAE Auto Finance MarketChallenges faced by End Users in UAE Auto Finance MarketSWOT Analysis of UAE Auto Finance MarketGovernment Regulations in the UAE Auto Finance MarketCustomer JourneyCOVID 19 Impact on UAE Auto Finance IndustryUAE Auto Finance Aggregator MarketCross Comparison of Major Companies in UAE Auto Finance MarketFuture Outlook and Market Size for UAE Auto Finance Market 2021-2026FAnalyst RecommendationsFor more insights on the market intelligence, refer to below link:-
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