Increasing internet penetration has allowed customers to access financial remittance services. Moreover, an increase in payment automation and digitalization is anticipated to create growth opportunities over the forecast period. Moreover, an increasing number of economic migrants traveling from developing economies to developed economies searching for better work opportunities is predicted to contribute to market growth.
MARKET DYNAMICS
The rising necessity for secure, safer, and quicker cross-border monetary transactions is one of the major factors driving the growth of the digital remittance market. Moreover, the rising smartphone penetration, attached to the growing number of digital-savvy customers opting for digital remittances, is anticipated to drive the market.
MARKET SCOPE
The "Global Digital Remittance Market Analysis to 2028"? is a specialized and in-depth study of the digital remittance market with a special focus on the global market trend analysis. The report aims to provide an overview of digital remittance market with detailed market segmentation by remittance channel, remittance type, application. The global digital remittance market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading digital remittance market players and offers key trends and opportunities in the digital remittance market.
MARKET SEGMENTATION
The global digital remittance market is segmented on the basis of remittance channel, remittance type, application. On the basis of remittance channel, the market is segmented as banks, money transfer operators, others. On the basis of remittance type, the market is segmented as inward digital remittance, outward digital remittance. On the basis of application, the market is segmented as personal remittance, business remittance.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global digital remittance market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The digital remittance market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting digital remittance market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the digital remittance market in these regions.
MARKET PLAYERS
The reports cover key developments in the digital remittance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from digital remittance market are anticipated to lucrative growth opportunities in the future with the rising demand for digital remittance market. Below mentioned is the list of few companies engaged in the digital remittance market.
The report also includes the profiles of key digital remittance market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Azimo
- InstaReM
- Mobetize Corp.
- MoneyGram
- OrbitRemit
- Remitly
- Ria Financial Services
- TransferWise
- Western Union
- WorldRemit Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.