Asia-Pacific Digital Remittance Market 2018-2023 | Industry Analysis By Key Manufacturers InstaReM, Remitly, Inc., Flywire, SingX Pte Ltd., Azimo Limited, WorldRemit Ltd., TransferWise Ltd, Ripple

Digital remittance is referred to as the transfer of money by foreign migrants in their native countries by using digital transfer networks such as easy-to-use mobile application, digital wallet, and others. The market witnesses entry of digital remittance operators, which poses a serious challenge to traditional cash-in-hand providers due to reduced user fees and ease of usability. Numerous benefits of using digital remittances such as convenience, speed, lower cost, elimination of the need for tedious form-filling processes, agents, and codes and others have shifted the focus of consumers toward digital transactions for money remittance.

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The rise in cross-border transactions and mobile-based payment channels reduced remittance cost & transfer time, and growth in the adoption of banking & financial services drive the growth of the market. However, lack of awareness and slowdown of the remittance industry in Asia-Pacific is expected to impede the market growth. Conversely, continuous technological innovations in digital remittance industry, as well as a rise in internet and mobile penetration in this region, are expected to present major opportunities for market expansion in the near future.

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

The report provides the profiles of key players, namely Instagram, Remitly, Inc., Flywire, SingX Pte Ltd., Azimo Limited, WorldRemit Ltd., TransferWise Ltd, Ripple, MoneyGram, and TNG Wallet.

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KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the Asia-Pacific digital remittance market and current & future trends to elucidate the imminent investment pockets.

Information about key drivers, restraints, and opportunities and their impact analysis on the market size are provided.

Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the Asia-Pacific digital remittance industry.

The quantitative analysis of the Asia-Pacific digital remittance market from 2016 to 2025 is provided to determine the market potential.

Asia-Pacific Digital Remittance Market Key Segments:

BY REMITTANCE TYPE: Inward Digital Remittance and Outward Digital Remittance

BY REMITTANCE CHANNEL: Bank, Money Transfer Operator (MTO) and Others

BY END-USER: Business and Personal

BY COUNTRY: China, Japan, India, Hong Kong, Singapore, Taiwan, Indonesia, Rest of Asia-Pacific

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Table of content:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY FILTER TYPE

CHAPTER 5: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY APPLICATION

CHAPTER 6: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY DISTRIBUTION CHANNEL

CHAPTER 7: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REGION

CHAPTER 8: COMPANY PROFILES

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