Worldwide Digital Remittance Market Size, Growth, Analysis, Drivers and Challenges-2018

Summary:
A new market study, titled “Global Digital Remittance Market Size, Status and Forecast 2025”, has been featured on WiseGuyReports.
Report Description:
This report studies the Digital Remittance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Digital Remittance market by product and Application/end industries.
Digital remittances have the potential to engender positive development outcomes. The pure feebased cost savings that result from digital remittances could have a significant impact on immigrant workers, as well as families back home.
Beyond the pure fee costs, important time, reach, and security benefits accrue from digital remittances. The cost savings from digital remittances could be a meaningful boost to global GDP and have a noteworthy impact on poverty. In order for all of these positive developments to be realized, and enabling environment for digital remittances must be created.
Identity, connectivity, banking, and literacy solutions for all must be developed by the public and private sectors in collaboration. With the current refugee crisis, the time is ripe for digital remittances to provide enhanced economic opportunity for those that need it most.
In 2017, the global Digital Remittance Market Size was valued at 1536 million USD, and it will reach 8590 million USD in 2025, with a CAGR of 23.3% between 2018 and 2025.
According to the data from WorldBank, India is the largest country of Migrant remittance inflows, with 68968 million USD and percentage of 11.2% in the world. China, Philippines, Mexico, France, Nigeria, Pakistan, Germany, Vietnam and Bangladesh, also are top players which receive significant amounts of remittance volume.
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.
Currently, the global Digital Remittance market is dominated by several traditional global money transfer operators (MTOs) like Western Union (WU), Ria Financial Services and MoneyGram. But the fintech like start-ups Xoom, TransferWise, WorldRemit, Remitly and Azimo, have significant impact on the global Digital Remittance market.
The major players in global market includeWestern 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
Geographically, this report split global into several key Regions, with, revenue (million USD), market share and growth rate of Digital Remittance for these regions, from 2013 to 2025 (forecast)
United States
Europe
Middle East & Africa
China
India
Southeast Asia
On the basis of product, the Digital Remittance market is primarily split intoBanks Digital Remittance
Digital Money Transfer Operators
On the basis on the end users/Application, this report coversMigrant Labor Workforce
Study Abroad and Travel
Small Businesses
Table of Contents
1 Industry Overview 1
2 Global Digital Remittance Competition Analysis by Players 14
3 Company (Top Players) Profiles and Key Data 20
4 Global Digital Remittance Market Size by Product and Application (2013-2018) 84
5 United States Digital Remittance Development Status and Outlook 88
6 Europe Digital Remittance Development Status and Outlook 91
7 Middle East & Africa Digital Remittance Development Status and Outlook 94
8 China Digital Remittance Development Status and Outlook 96
9 India Digital Remittance Development Status and Outlook 98
10 Southeast Asia Digital Remittance Development Status and Outlook 101
11 Market Forecast by Regions, Product and Application (2018-2025) 104
12 Digital Remittance Market Dynamics 114
13 Market Effect Factors Analysis 124
14 Research Finding /Conclusion 127
15 Methodology and Data Source 129

About Us:
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Contact Us:
NORAH TRENT                                                      
Ph: +1-646-845-9349 (US)                          
Ph: +44 208 133 9349 (UK) 

Comments

Post a Comment

Popular posts from this blog

Report on Angola Telecoms, Mobile and Broadband Market Status, Market Size by Players, Regions, Type, Application and Forecast to 2021

Image
WiseGuyReports.com  “Angola - Telecoms, Mobile and Broadband - Statistics and Analyses”  report has been added to its Research Database. Scope of the Report: Angola’s new offshore cable system to service the crucial oil and gas sector Following the end of a decades-long civil war in 2002, foreign investment in Angola has intensified. This has had a knock-on effect in the telecoms sector, where there has been considerable interest in national infrastructure upgrades, as well as in developing addition international capacity. The mobile market remains vibrant despite a continued duopoly between Unitel and Angola Telecom’s Movicel. There has been particularly good progress in LTE network development into 2016. A new unified licensing regime should accelerate growth in the mobile sector in coming years. The government has aimed to develop telecom infrastructure in a bid to diversify the country’s economy and lessen its dependence on offshore crude oil production, whi...
Read more

Telecoms, Mobile and Broadband 2019-2023 Laos Market Survey Industry Key Players – Lao Telecom, Thaicom, ETL, Unitel, Lao Asia Telecom, Star Telecom, Viettel

WiseGuyReports.com  “Laos - Telecoms, Mobile and Broadband - Statistics and Analyses”  report has been added to its Research Database. Scope of the Report: The Laos telecoms market finally gains some momentum  The telecom sector in Laos still has numerous issues to address. For a number of years, the rate of regulatory reform has been well behind wider industry development. However, Laos has started to make significant progress in strengthening of its telecommunications infrastructure. As a result, it attracted more foreign investment into the sector.  The Laos economy continues to perform well. In the last decade there certainly has been a noticeable shift in the economic and social outlook for Laos. Most importantly, a significant number of hydro-electric power projects and mining ventures have become a reality, with even more possible projects in the pipeline.  The provision of fixed internet services has been slow, this being a major concern in...
Read more

Guinea Telecoms, Mobile and Broadband Industry 2018 Analysis and Forecast Market Research Report

Image
WiseGuyReports.com  “Guinea - Telecoms, Mobile and Broadband - Statistics and Analyses”  report has been added to its Research Database. Scope of the Report: Guinea’s Sotelgui not ready for a relaunch. Guinea’s telecommunications sector was given a tremendous boost following the market entry of MTN Group and Orange Group. For the following three years the number of subscribers grew strongly while revenue also increased steadily, a trend which has continued unabated since then. The mobile market now has four competing networks, and though the number of subscribers dipped slightly in 2016 this was due to the removal of dormant SIM cards among operators. The debt-stricken incumbent fixed-line operator Sotelgui operated its Lagui mobile unit before it closed down in late 2012. Sotelgui was declared bankrupt in 2013, and though there have been several announcements regarding its revival the government in late 2017 confirmed that there was no prospect of its return without a publ...
Read more