Press release
Asia-Pacific Digital Remittance Market : Estimations Are Based On A Comprehensive Analysis Of The Key Developments In The Industry. |2026
Increase in cross-border transactions & mobile-based payment channels, less cost & transfer time for remittance, and surge in adoption of banking & financial services drive the growth of the Asia-Pacific digital remittance market. However, low awareness regarding digital remittance hinders the market growth. On the other hand, surge in penetration of Internet & smartphones along with technological innovations create new opportunities in the coming years.
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Based on remittance type, the inward digital remittance segment accounted for more than two-thirds of the total market share in 2018, and is expected to continue its lead position during the forecast period. However, the outward digital remittance segment is estimated to witness the largest CAGR of 24.4% from 2019 to 2026.
Based on remittance channel, the money transfer operator segment accounted for the highest market share with nearly half of the total share in 2018, and is expected to continue its leadership position during the forecast period. On the other hand, the banks segment is estimated to witness the highest CAGR of 24.7% from 2019 to 2026.
Based on country, China contributed to the highest market share with more than one-fourth of total share of the Asia-Pacific digital remittance market in 2018, and is estimated to maintain its highest contribution by 2026. This is due to the major shift toward digital payments in the country. However, Singapore is expected to witness the highest CAGR of 27.1% from 2019 to 2026. On the other hand, India is projected to register a CAGR of 22.3% during the forecast period. The research also analyzes countries including Japan, Hong Kong, Taiwan, Indonesia, and rest of Asia-Pacific.
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Key Benefits for Stakeholders:
• This report entails a detailed quantitative analysis of the current market trends from 2019 to 2026 to identify the prevailing Asia-Pacific digital remittance market opportunity.
• Market estimations are based on a comprehensive analysis of the key developments in the industry.
• The Asia-Pacific market is comprehensively analyzed with respect to providers, inward digital remittance and outward digital remittance
Asia-pacific digital remittance market analysis based on country helps understand the market to assist in strategic business planning.
• The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Asia-Pacific Digital Remittance Market Report Highlights
Aspects Details
BY REMITTANCE TYPE
Inward Digital Remittance
Outward Digital Remittance
BY REMITTANCE CHANNEL
Banks
Money Transfer Operators (MTOs)
Others
BY COUNTRY
China
Japan
India
Hong Kong
Singapore
Indonesia
Taiwan
Rest of Asia-Pacific
Key Market Players
AZIMO LTD, FLYWIRE CORPORATION, INSTAREM, MONEYGRAM INTERNATIONAL, INC, REMITLY, INC, RIPPLE, SINGX PTE LTD, TNG FINTECH GROUP INC, TRANSFERWISE LTD, WORLDREMIT LTD
Full Reports: https://www.alliedmarketresearch.com/asia-pacific-digital-remittance-market
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