Digital Remittance Market Set to Register healthy CAGR During 2018-2023
Date: 2019-02-13   Author: Partha Ray  Category: #industry

Digital Remittance Market Set to Register healthy CAGR During 2018-2023

The global Digital Remittance market is valued at 1540 million USD in 2017 and is expected to reach 5890 million USD by the end of 2023, growing at a CAGR of 25.1% between 2017 and 2023.

This report studies the 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.

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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,, Auxesis, Bitspark, Rebit and Cashaa, have introduced their products in remittance.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Digital Remittance.

Unveiling the Digital Remittance market trends with regards to the regional frame of reference:

  • The research incorporates a highly comprehensive study of the geographical spectrum of this industry, analyzed extensively with regards to every parameter of the regions in question, spanning North America, Europe, Asia-Pacific, South America & Middle East and Africa.
  • Pivotal details with respect to the sales accrued by every region as well as the market share procured have been mentioned in the report.
  • The remuneration held by every region and the growth rate recorded over the forecast timeline have been provided as well.

Enumerating a few other key pointers mentioned in the Digital Remittance market research study:

  • An inherent synopsis of the competitive hierarchy of the Digital Remittance market that constitutes pivotal companies such as Western Union (WU), Ria Financial Services, PayPal/Xoom, TransferWise, WorldRemit, MoneyGram, Remitly, Azimo, TransferGo, InstaReM, TNG Wallet,, Toast, OrbitRemit, Smiles/Digital Wallet Corporation, Avenues India Pvt Ltd, FlyRemit, WeChat Payment and Ant Financial/Alipay, has been included in the study.
  • A basic finance overview of every manufacturer, product portfolio, and a generic description have been provided.
  • The study also encompasses the production base of the manufacturer, as well as the market share the company holds.
  • Additionally, the firm’s price patterns as well as gross margins have been enumerated.
  • The product spectrum of the Digital Remittance market, constituting Banks Digital Remittance and Digital Money Transfer Operators, has been mentioned in the report, along with the market share accrued by the product category in question.
  • The report also enumerates the sales procured by all the products and the valuation that they hold in the industry over the forecast period.
  • The application landscape of the Digital Remittance market, comprising Migrant Labor Workforce, Study Abroad and Travel and Small Businesses, has been meticulously incorporated in the study report, as well as the market share accrued by each application.
  • The study is inclusive of the sales projection as well as the valuation that these applications will procure over the estimated duration.
  • Pivotal factors such as the market competition trends, market concentration rate, and more have been included in the study.
  • In-depth details with respect to the sales channels adopted by manufacturers in order to marketing the products in tandem with information regarding traders, dealers, and distributors that are a part of the Digital Remittance market have been elucidated in the study.

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The report on the Digital Remittance market, projected to chronicle itself among some of the topnotch business verticals, is also inclusive of sufficient information related to basic market dynamics – like the myriad risks prevailing in this business space, the driving forces impelling the industry landscape, and the opportunities in this sphere.

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About Author

Partha Ray

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.


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