Dublin, April 04, 2022 (GLOBE NEWSWIRE) -- The "Digital Remittance Market Research Report by Remittance Channel, by Remittance Type, by End User, by Region - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Remittance Market size was estimated at USD 17.08 billion in 2020, is expected to reach USD 19.14 billion in 2021, and is projected to grow at a CAGR of 12.43% to reach USD 38.81 billion by 2027.
This research report categorizes the Digital Remittance to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Remittance Channel, the market was studied across Banks Digital Remittance and Digital Money Transfer Operators.
- Based on Remittance Type, the market was studied across Inward Digital Remittance and Outward Digital Remittance.
- Based on End User, the market was studied across Business and Personal.
- Based on Region, the market was studied across the Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
The report provides insights on the following:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Digital Remittance Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Digital Remittance Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Digital Remittance Market?
- What is the competitive strategic window for opportunities in the Global Digital Remittance Market?
- What are the technology trends and regulatory frameworks in the Global Digital Remittance Market?
- What is the market share of the leading vendors in the Global Digital Remittance Market?
- What modes and strategic moves are considered suitable for entering the Global Digital Remittance Market?
Market Dynamics
Drivers
- Rising digitization and penetration of smartphone
- Adoption of transparent and secure banking and financial services
- Increase in migrants remission
- Reduced remittance cost and transfer time
Restraints
- Inadequate infrastructure and connectivity
- Cybersecurity concern
Opportunities
- Technology innovation and technology penetration in developing economies
- Adoption of blockchain technology integrated platforms
Challenges
- Lack of awareness and guidance
Companies Mentioned
- Arcus
- Azimo Limited
- coins.ph Pte. Ltd.
- Digital Wallet Corporation
- Flywire
- InstaReM PTE limited
- MoneyGram International, Inc.
- OrbitRemit Global Money Transfer Limited
- PayPal Holdings, Inc.
- Pontual Money Transfer
- Remitly, Inc.
- Ria Financial Services Ltd.
- Ripple
- The Currency Cloud Limited
- The Western Union Company
- TNG Limited
- Toastme Pte Limited
- TransferGo Ltd.
- TransferWise Ltd.
- Western Union Holdings, Inc.
- WorldRemit Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/i0z3vy
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