Global Digital Money Transfer Market Forecast to 2027: Compound Annual Growth of 12.4. % forecast with market reaching $38.81 billion by 2027 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Digital Remittance Market Research Report by Remittance Channel, by End User, by Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” has been added to from ResearchAndMarkets.com offer.

The global digital money transfer market size was estimated at USD 17.08 billion in 2020, is projected 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. 2027.

This research report categorizes digital remittances to forecast revenues and analyze trends in each of the following submarkets:

  • Based on remittance channel, the market has been studied through Digital Remittance Operators and Bank Digital Remittance Operators.

  • On the basis of rebate type, the market has been studied through inbound digital rebates and outbound digital rebates.

  • On the basis of the end user, the market has been studied through companies and individuals.

  • Based on region, the market has been studied in Americas, Asia-Pacific and Europe, Middle East & Africa. The Americas are studied in more detail through Argentina, Brazil, Canada, Mexico and the United States. The United States is studied in more detail through California, Florida, Illinois, New York, Ohio, Pennsylvania and Texas. Asia-Pacific is studied in more detail through Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. Europe, the Middle East and Africa are studied in more detail in France, Germany, Italy, the Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, the United Arab Emirates and the United Kingdom.

The report provides information on the following:

  • Market Penetration: Provides comprehensive information on the market offered by major players

  • Market Development: Provides detailed information on lucrative emerging markets and analyzes penetration in mature market segments

  • Market Diversification: Provides detailed information on new product launches, untapped geographies, recent developments, and investments

  • Competitive Assessment and Intelligence: Provides a comprehensive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of key players

  • Product Development and Innovation: Provides intelligent insights into 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 money transfer market?

  • What are the inhibiting factors and impact of COVID-19 on the global digital money transfer market during the forecast period?

  • What are the products/segments/applications/areas to invest in during the forecast period in the Global Digital Money Transfer Market?

  • What is the competitive strategic window for opportunities in the Global Digital Money Transfer Market?

  • What are the technology trends and regulatory frameworks in the global digital money transfer market?

  • What is the market share of the major vendors in the global digital money transfer market?

  • What modes and strategic moves are considered suitable for entering the global digital money transfer market?

Market dynamics

Drivers

  • Growing digitization and smartphone penetration

  • Adoption of transparent and secure banking and financial services

  • Increase in migrant forgiveness

  • Reduced delivery cost and transfer time

Constraints

  • Inadequate infrastructure and connectivity

  • Cybersecurity problem

Opportunities

  • Technological innovation and technology penetration in developing economies

  • Adoption of integrated blockchain technology platforms

Challenges

  • Lack of awareness and orientation

Companies cited

  • arcus

  • Azimo Limited

  • coins.ph Pte. ltd.

  • Digital wallet company

  • Flywire

  • InstaReM PTE limited

  • MoneyGram International, Inc.

  • OrbitRemit Global Money Transfer Limited

  • PayPal Holdings, Inc.

  • One-time money transfer

  • Remitly, Inc.

  • Ria Financial Services Ltd.

  • Ripple

  • The Limited Currency Cloud

  • The Western Union Company

  • TNG Limited

  • Toasteme Pte Limited

  • TransferGo Ltd.

  • TransferWise Ltd.

  • Western Union Holdings, Inc.

  • WorldRemit Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/gfmpzr

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