The global digital remittance market is expected to grow from USD 1,556.15 million 2017 to USD 7,822.65 million by the end of 2024 at a Compound Annual Growth Rate (CAGR) of 25.95%.
“Rising digitization and smartphone usage is one of the factors largely attributing to the growth of digital remittance market globally”
The factors attributing to the growth of the market are rising digitization and smartphone usage, adoption of transparent and secure banking and financial services, increase in migrants remission, and reduced remittance cost and transfer time. However, some factors such as inadequate infrastructure and connectivity, and cybersecurity concern may hinder the market growth. The global digital remittance market is expected to showcase the opportunities such as an increase in internet usage, technology innovation, focus on customer satisfaction, and the influence of blockchain technology. In the near future, the market may face the possible challenges in the growth due to and lack of awareness and guidance. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the global digital remittance market.”Banks Digital Remittance: The highest growing remittance channel for the global digital remittance market”
On the basis of remittance channel, the global digital remittance market is studied across Banks Digital Remittance and Digital Money Transfer Operators. Among all these remittance channels, the Banks Digital Remittance is projected to hold the largest market share while the Digital Money Transfer Operators has the potential to grow the market with the highest CAGR in the forecast period.”Inward Digital Remittance: The highest growing remittance type for the global digital remittance market”
On the basis of remittance type, the global digital remittance market is studied across Inward Digital Remittance and Outward Digital Remittance. Among all these remittance types, the Inward Digital Remittance is projected to hold the largest market share while the Inward Digital Remittance has the potential to grow the market with the highest CAGR in the forecast period.”Personal: The highest growing end user for the global digital remittance market”
On the basis of the end user, the global digital remittance market is studied across Business and Personal. Among all these end users, the Personal has captured the maximum market share while the Personal has the opportunity to emerge with the highest CAGR.”Americas: The highest growing geography for the global digital remittance market”
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On the basis of geography, the global digital remittance market is studied across the Americas, (United States, Brazil, Canada, Mexico, and Argentina) Europe, Middle East & Africa, (United Kingdom, Germany, France, Saudi Arabia, United Arab Emirates, Italy, and Russia) and Asia-Pacific (China, Japan, India, and Australia). Among all these geographies, the Asia-Pacific is showing the maximum growth in the near future with the highest CAGR while the Americas is dominating the market with the highest market size.
“Azimo Limited: The potential growing player for the global digital remittance market”
The key players profiled in the global digital remittance market are Azimo Limited, Digital Wallet Corporation, InstaReM PTE limited, MoneyGram International, Inc., OrbitRemit Global Money Transfer Limited, PayPal Holdings, Inc., Remitly, Inc., Ria Financial Services Ltd., TNG Limited, The Western Union Company, Toastme Pte Limited, TransferGo Ltd., TransferWise Ltd., WorldRemit Ltd., and coins.ph Pte. Ltd.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the global digital remittance market.
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global digital remittance market.
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the global digital remittance market.
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the global digital remittance market.
5. Competitive Assessment & Intelligence: Provides exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global digital remittance market.
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TABLE OF CONTENT
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
2. Research & Forecasting
2.1. Research Methodology
2.1.1. Research Instruments
18.104.22.168. Secondary Instrument
22.214.171.124. Primary Instrument
2.1.2. Research Approaches
126.96.36.199. Bottom-up Approach
188.8.131.52. Top-down Approach
2.1.3. Research Reliability & Validity
2.1.4. Research Assumptions
2.1.5. Vendor Inclusion Criteria
2.2. Forecasting Methodology
2.2.1. Methodology for Market Estimation & Forecasting
2.2.2. Significance and Importance of the Market Estimation & Forecasting
3. Executive Summary
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