Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Digital Remittance Market Research Report by Remittance Channel (Banks Digital Remittance and Digital Money Transfer Operators), Remittance Type, End-User, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Remittance Market size was estimated at USD 131.69 billion in 2022, USD 148.08 billion in 2023, and is projected to grow at a CAGR of 12.58% to reach USD 339.87 billion by 2030.
Market Segmentation & Coverage:
The report on the Global Digital Remittance Market identifies key attributes about the customer to define the potential market and identify different needs across the industry. Understanding the potential customer group's economies and geographies can help gain business acumen for better strategic decision-making.
The market coverage across different industry verticals reveals the hidden truth about the players' strategies in different verticals and helps the organization decide target audience. This report gives you the composite view of sub-markets coupled with comprehensive industry coverage and provides you with the right way of accounting factors such as norms & regulations, culture, to make right coverage strategy for the market plan.
This research report categorizes the Global Digital Remittance Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Remittance Channel, the market is studied across Banks Digital Remittance and Digital Money Transfer Operators.
- Based on Remittance Type, the market is studied across Inward Digital Remittance and Outward Digital Remittance.
- Based on End-User, the market is studied across Business and Personal.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes vendors in the Global Digital Remittance Market. based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) and placed into four quadrants (F: Forefront, P: Pathfinder, N: Niche, and V: Vital). The Global Digital Remittance Market FPNV Positioning Matrix representation/visualization further aids businesses in better decision-making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market, providing the idea of revenue generation into the overall market compared to other vendors in the space. This provides insights on vendors performance in terms of revenue generation and customer base compared to others. The Global Digital Remittance Market Share Analysis offers an idea of the size and competitiveness of the vendors for the base year. The outcome reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Digital Remittance Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Digital Remittance Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Digital Remittance Market?
4. What is the competitive strategic window for opportunities in the Global Digital Remittance Market?
5. What are the technology trends and regulatory frameworks in the Global Digital Remittance Market?
6. What is the market share of the leading vendors in the Global Digital Remittance Market?
7. What modes and strategic moves are considered suitable for entering the Global Digital Remittance Market?
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $131.69 Billion |
| Forecasted Market Value (USD) by 2030 | $339.87 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Number of Migrants Sending Money to Home Country
- Rising Need for Transparency in Remittances
- Surging Focus on Reducing Remittance Transaction Fees
Restraints
- Lack of Awareness and Knowledge About Digital Remittance Platforms
Opportunities
- Adoption of Blockchain Technology in Digital Remittance Platforms
- High Level of Amalgamations Activities Among Money Transfer Operators
Challenges
- Concerns Regarding Cybersecurity
Companies Mentioned
- American Express Company
- Citigroup, Inc.
- Digital Wallet Corporation
- Flywire Corporation
- Mastercard Incorporated
- Mavro Imaging
- Moneygram International, Inc.
- Nium Pte. Ltd.
- OFX Group Limited
- OrbitRemit Limited
- OSP Labs
- PayPal Holdings, Inc.
- Remitly Global, Inc.
- Ripple Labs Inc.
- The Currency Cloud Limited
- The Western Union Company
- Touch 'n Go Sdn Bhd
- TransferGo Ltd.
- Wise Payments Limited
- WorldRemit Limited
For more information about this report visit https://www.researchandmarkets.com/r/majxdv
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