Digital Remittance Market High Revenue Growth | By Product and Application Grow at Higher CAGR 25.1% by 2024 | Western Union (WU), Ria Financial Services, PayPal/Xoom, TransferWise, WorldRemit, MoneyGram, Remitly, Azimo, TransferGo, InstaReM, TNG Wallet,

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.

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, shared in Chapter 3.

This report presents a comprehensive overview, market shares and growth opportunities of Digital Remittance market by product type, application, key companies and key regions.

This study considers the Digital Remittance value generated from the sales of the following segments:

Segmentation by product type:

Banks Digital Remittance
Digital Money Transfer Operators

Segmentation by application:

Migrant Labor Workforce
Study Abroad and Travel
Small Businesses

This report also splits the market by region:
Americas
APAC
Europe
Middle East & Africa

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.

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The key manufacturers covered in this report:

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.

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Digital Remittance market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.

To understand the structure of Digital Remittance market by identifying its various subsegments.

Focuses on the key global Digital Remittance players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.

To analyze the Digital Remittance with respect to individual growth trends, future prospects, and their contribution to the total market.

To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

To project the size of Digital Remittance submarkets, with respect to key regions (along with their respective key countries).

To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.

To strategically profile the key players and comprehensively analyze their growth strategies.

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