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Asia-Pacific Digital Remittance Market by Remittance Type (Inward Digital Remittance, Outward Digital Remittance), Remittance Channel (Banks, Money Transfer Operators (MTOs), and Others), and End User (Business and Personal)

10-11-2018 05:11 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Asia-Pacific Digital Remittance Market

Asia-Pacific Digital Remittance Market

According to a recent report published by Allied Market Research, titled, Asia-Pacific digital remittance market by Remittance Type, Remittance Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the Asia-Pacific digital remittance market was valued at $31,234 million in 2016, and is projected to reach at $215,817 million by 2025, growing at a CAGR of 24.2% from 2018 to 2025.

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The personal segment dominated the overall market in 2016, and is expected to continue this trend in the near future, owing to the introduction of bitcoin and other cryptocurrencies to introduce new mobile applications for migrant labor workforce as well as entry of start-ups and well-established companies in Asia-Pacific due to rise in number of migrant workers.

China dominated the overall market in 2016, due to the factors such as major shift towards digital or mobile payments from traditional banking and card infrastructure at an accelerating rate, rise in focus on the launch of electronic cross-boundary remittance services, ramp-up on wallets, and others. However, Singapore is expected to witness the highest growth rate during the forecasted period.

The report focuses on the growth prospects and restraints of the market based on the analysis of Asia-Pacific digital remittance market trends. The study provides Porters Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

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The Asia-Pacific digital remittance market is segmented into remittance type, remittance channel, end user, and country. Based on remittance type, the market is bifurcated into inward and outward digital remittance. On the basis of remittance channel, it is categorized into banks, money transfer operator, and others. By end user, it is divided into personal and business. Country wise, it is analyzed across China, Japan, India, Hong Kong, Singapore, Taiwan, Indonesia, and rest of Asia-Pacific.

The key players operating in the Asia-Pacific digital remittance market include InstaReM, Remitly, Inc., Flywire, SingX Pte Ltd., Azimo Limited, WorldRemit Ltd., TransferWise Ltd., Ripple, MoneyGram, and TNG Wallet.

Rise in cross-border transactions & mobile-based payment channels, reduced remittance cost & transfer time, and surge in adoption of banking & financial services act as the major drivers of the market. However, slowdown of the remittance industry in Asia-Pacific and lack of awareness towards the use of digital channels to remit money are expected to hamper the market growth during the forecast period.

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Rise in cross-border transactions and increase in preference for mobile banking & mobile-based payment solutions dominate payment trends in Asia-Pacific, which are expected to drive the growth of the market. For instance, Malaysia is undergoing major shift from paper to electronic methods of payment to support initiatives taken by the Bank Negara Malaysia to accelerate migration to electronic payment.

Table of Content:

Chapter: 1: INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY

1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools & models

Chapter: 2: EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3: MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTER'S FIVE FORCES ANALYSIS
3.4. DEMOGRAPHIC AND PSYCHOGRAPHIC ANALYSIS OF CUSTOMERS
3.5. KEY INSIGHTS ON TICKET SIZE
3.6. KEY PLAYER POSITIONING, 2016
3.7. MARKET DYNAMICS

3.7.1. Drivers

3.7.1.1. Rise in cross-border transactions and mobile-based payment channels
3.7.1.2. Reduced remittance cost & transfer time
3.7.1.3. Growth in adoption of banking & financial services

3.7.2. Restraints

3.7.2.1. Slowdown of the remittance industry in Asia-Pacific
3.7.2.2. Lack of awareness

3.7.3. Opportunities

3.7.3.1. Technological innovations in digital remittance industry
3.7.3.2. Rise in Internet and Mobile penetration

Chapter: 4: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE TYPE

4.1. OVERVIEW
4.2. INWARD DIGITAL REMITTANCE

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast, by country
4.2.4. Market analysis by country

4.3. OUTWARD DIGITAL REMITTANCE

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast, by country
4.3.4. Market analysis by country

Chapter: 5: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL

5.1. OVERVIEW
5.2. BANKS

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast, by country
5.2.4. Market analysis by country

5.3. MONEY TRANSFER OPERATOR

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast, by country
5.3.4. Market analysis by country

5.4. OTHERS

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast, by country
5.4.4. Market analysis by country

Chapter: 6: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY END USER

6.1. OVERVIEW
6.2. BUSINESS

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast, by country
6.2.4. Market analysis by country

6.3. PERSONAL

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast, by country
6.3.4. Market analysis by country

6.3.4.1. Personal digital remittance market size and forecast by type

6.3.4.1.1. White Collar Workforce

6.3.4.1.1.1. Key growth factors and opportunities
6.3.4.1.1.2. White collar workforce market size and forecast, by type

6.3.4.1.2. Blue Collar Workforce

6.3.4.1.2.1. Key growth factors and opportunities
6.3.4.1.2.2. Blue collar workforce market size and forecast, by type

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

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