Digital remittance market is anticipated to grow at a CAGR of 15.9% during the forecast period. The market growth can be attributed to the increasing fund transfers from migrant workers to their families. Moreover, the increasing number of cross-border transactions and the growing adoption of mobile-based payment channels are expected to propel market growth over the forecast period. According to Visa Economic Empowerment Institute, global remittances totalled $706 billion in 2019, of this, low- and middle-income countries (LMICs) received a record $554 billion, which was larger than foreign direct investments (FDIs) in these countries. In addition, customers across the globe are also shifting toward digital remittance services as they reduced the money transfer time and remittance costs, and offer high privacy and protection for consumers’ money.
Get Free Sample link @ https://www.omrglobal.com/request-sample/digital-remittance-market
Moreover, numerous players which include Digital Wallet Corp, InstaReM Pvt. Ltd., and WorldRemit Ltd., in the market are focusing on adopting various strategies such as partnership, funding, collaboration, and advanced services which further drive the market growth. For instance, in August 2021, WorldRemit Ltd. launched its money transfer services in Malaysia, allowingWorldRemit users to send money from Malaysia, in addition to 50 other countries, including the US and the UK, to more than 130 destinations. Based on their location, users can choose from numerous payout methods for the recipient, including payments to mobile wallets, bank deposits, mobile airtime top-up, and cash pick-up.
full report of Digital Remittance Market available @ https://www.omrglobal.com/industry-reports/digital-remittance-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Digital RemittanceMarket by Type
- Inward Digital Remittance
- Outward Digital Remittance
Global Digital RemittanceMarket by Distribution Channel
- Banks
- Money Transfer Operators
- Online Platform
- Other Channels
Global Digital Remittance Market by End User
- Business
- Personal
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Arcus
- Azimo Ltd.
- ph Pte. Ltd.
- Digital Wallet Corp.
- Flywire
- InstaReM PTE Ltd.
- OrbitRemit Global Money Transfer Ltd.
- Pontual Money Transfer
- Ria Financial Services Ltd.
- Ripple
- The Currency Cloud Ltd.
- TNG Ltd.
- Toastme Pte Ltd.
- TransferGo Ltd.
- TransferWise Ltd.
- WorldRemit Ltd.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital remittance market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/digital-remittance-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
