Maharashtra, India -- (SBWire) -- 03/02/2019 --Summary: Digital Remittance Market
Digital Remittance is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet.
Migrant labor workforce is the most important drivers to promote the global development. In future, the blockchain technology will exert far-reaching influence on the remittance market. Most of traditional bank, fintech and other financial firms have researched and tested the blockchain technology used in remittance volume. In the same time, some companies like Ant Financial/Alipay, Coins.ph, Auxesis, Bitspark, Rebit and Cashaa, have introduced their products in remittance.
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According to this study, over the next five years the Digital Remittance market will register a 25.1% CAGR in terms of revenue, the global market size will reach US$ 5890 million by 2024, from US$ 1540 million in 2019. In particular, this report presents the global revenue market share of key companies in Digital Remittance business
The Global Digital Remittance Market studies based on the company profiles and regions as follows:
Leading Vendors – Western Union (WU), Ria Financial Services, PayPal/Xoom, TransferWise, WorldRemit, MoneyGram, Remitly, Azimo, TransferGo, InstaReM, TNG Wallet, Coins.ph, Toast, OrbitRemit, Smiles/Digital Wallet Corporation, Avenues India Pvt Ltd, FlyRemit, WeChat Payment, Ant Financial/Alipay, and More
Segmentation by product type: breakdown data from 2014 to 2019:
Banks Digital Remittance
Digital Money Transfer Operators
Segmentation by application: breakdown data from 2014 to 2019:
Migrant Labor Workforce
Study Abroad and Travel
Small Businesses
Market segmentation by Zone:
North America (USA, Canada, Mexico)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand)
Europe (Germany, UK, France, Italy, Spain, Russia, etc.)
South America (Brazil, Argentina, etc.)
Middle East (Saudi Arabia, Iran etc.)
Africa (Egypt, South Africa, etc.)
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The report consists of a detailed analysis of substantial returns that has been expected to be gathered at the end of the forecasted period of time. The report also underlines the evaluation of materials and markets, technological advancements, unpredictable industry structure, and capacities of the Digital Remittance market.
Furthermore, the report provides the core knowledge of the market by analyzing end user's consumption tendency, Digital Remittance market driving factors, ever-changing market dynamics, and rising development patterns in the market.
Besides, the report focuses on the leading contenders in the Digital Remittance industry and delivers an all-inclusive analysis considering their market share, production capacity, value chain analysis, size, sales and distribution network, import/export activities, cost structure, and product specification. Due to the changes in world business policies, it is recommended to be always aware of the facts and data about this market.
The objectives of the Market Research Explore report on the Global Digital Remittance Market are:
To study, analyze and forecast the Global Digital Remittance Market by segmenting it based on types, application, inventions, time-based performance, and end user.
The report by Market Research Explore analyzes various macro and microeconomic factors impacting the Global Digital Remittance Market.
To come up with insights into the major factors affecting the global Digital Remittance Market around the world such as Its drivers, hurdles, opportunities, and challenges.
To notify about the dominant players along with their strategies, products/services, research, and development plans.
Conclusively, the report helps a reader to get an absolute understanding of the Digital Remittance industry through details about the market projection, competitive scenario, industry environment, growth constraining factors, limitations, entry barriers, the provincial regulatory framework as well as upcoming market investment and opportunities, challenges and other growth promoting factors. This report will provide you a clear view of each and every fact of the market without a need to refer any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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