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Digital Money Transfer Market to Witness Huge Growth by 2020-2025
Digital Money Transfer Market
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Summary
Global Digital Money Transfer Market Overview:
The rising digitilized across the globe is one of the strongest reasons that the digital money transfer market is growing. As it is very difficult to physically go to a bank and then follow the procedure, hence becoming the inclusion of the digital medium and thus the process is gaining high momentum. The process uses a gateway and digital accounts of both the sender and receiver. The gateway makes the process secure. The digital remittance, on the other hand, can transform the local and global economy. For example, it is studied by Statista that Transaction value in the Digital Remittances segment amounts to approximately USD 95,959 M in 2020, thus increasing the market for digital money transfer. Some of the key players profiled in the study are Amdocs (United States), eServGlobal (Australia), Huawei (China), Mastercard (United States), Axis Bank (India), PayPal (United States), Visa (United States) and Interac (Canada).
On the basis of geography, the market of Digital Money Transfer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service, the sub-segment i.e. Domestic Money Transfer will boost the Digital Money Transfer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Transactions Type, the sub-segment i.e. Direct Deposits will boost the Digital Money Transfer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Banking will boost the Digital Money Transfer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
Growing Acceptance of Online Banking
Increasing Number of Digital Devices like Smart-Phones, Mobiles Etc
Market Trend
Growing E-Commerce Application In P2P Technology
Rising Trend of application Like Google Pay in this Industry
Restraints
Concern Related to Data Privacy
Opportunities
Digital Money Transfers has many growth opportunities precisely in the developing countries which include China and India. The Indian government is focusing to develop positive policy framework which includes Goods & service taxes, improving digital infrastructure, financial inclusion and launching payment systems such as Aadhar enabled payments, UPI & other fueling the digital payment sector.
Challenges
Increase in Cyber-Attacks
Concern Related to Hacks in these Transactions
Major Market Developments:
In August 2019, Libra announced that they are planning to use Facebook as a platform where people would be able to transfer money, and this will give both Libra, Facebook, and their associates leverage of magnified scale. This can also use Facebook cryptocurrency as a method.
Target Audience:
Potential Investors, End-Users, Banks and Others
Major Objectives Focused through this Study
• To define, describe, and forecast the Global Digital Money Transfer market on the basis of product [Mobile Domestic Money Transfer, Online Domestic Money Transfer and Others] , application [Consumer and Enterprise], key regions and end user
• To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
• To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
• Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
• To provide market size for various segments of the Digital Money Transfer market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
• To strategically profile the key players and analyzing their market shares and core competencies in the Digital Money Transfer industry
• To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
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Strategic Points Covered in Table of Content of Global Digital Money Transfer Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Digital Money Transfer Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025market. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the bas
....Continued
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HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.
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