Press release
Exploring the Digital Remittance Market: Trends, Growth, and Future Outlook, Report 2023-2028 | IMARC Group
The global digital remittance market size reached US$ 18.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028.
Digital remittance is an online service that allows the transfer of funds from one party to another across different geographies. It is primarily used by migrants to send money to their families in their home countries. These services have revolutionized the traditional money transfer industry, offering benefits such as convenience, speed, lower costs, and the elimination of intermediaries. Digital remittance companies leverage the internet and mobile technologies to provide more accessible and effective money transfer services, transforming how people conduct cross-border transactions.
Request Free Sample Report: https://www.imarcgroup.com/digital-remittance-market/requestsample
Digital Remittance Market Trends:
The significant rise in the global migrant workforce, with workers seeking opportunities abroad, represents the key factor driving the market growth. Besides this, the growing demand for cost-effective, fast, and secure international money transfer services is strengthening the market growth. Moreover, the increasing digital literacy and penetration of smartphones and internet services worldwide have made digital platforms accessible to a broader demographic, creating a favorable outlook for the market.
Additionally, the emergence of innovative financial technologies, or fintech startups, offering digital remittance services with lower fees and enhanced user experiences compared to traditional remittance methods are presenting remunerative growth opportunities for the market. Furthermore, the presence of a favorable regulatory landscape for digital transactions and financial inclusion initiatives combined with the ongoing advancements in blockchain technology and the increasing acceptance of cryptocurrencies for cross-border transactions are aiding in market expansion.
Some of the Top Competitive Landscape Operating in the Market are Given Below:
• Azimo Limited
• Digital Wallet Corporation
• Moneygram International Inc.
• NIUM Pte. Ltd.
• PayPal Holdings Inc.
• Remitly Inc.
• Ria Financial Services Ltd.
• Ripple Labs Inc.
• TransferGo Ltd.
• Western Union Holdings Inc.
• Wise (Earlier TransferWise Limited)
• WorldRemit Ltd
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/digital-remittance-market
Key Market Segmentation:
Breakup by Type:
• Inward Digital Remittance
• Outward Digital Remittance
Breakup by Channel:
• Bank Transfer
• Money Transfer Operators
• Online Platforms
• Others
Breakup by End Use:
• Migrant Labor Workforce
• Individual
• Small Businesses
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Also, Read the Latest Market Research Report 2023:
• https://www.digitaljournal.com/pr/news/imarc/handbag-market-set-to-hit-us-54-8-billion-6-2-of-cagr-during-2023-28
• https://www.digitaljournal.com/pr/news/imarc/data-monetization-market-set-to-hit-us-8-3-billion-18-9-of-cagr-during-2023-28
• https://www.digitaljournal.com/pr/news/imarc/baby-feeding-bottles-market-set-to-hit-us-3-8-billion-4-3-of-cagr-during-2023-28
• https://www.digitaljournal.com/pr/news/imarc/irritable-bowel-syndrome-treatment-market-set-to-hit-us-4-2-billion-9-1-of-cagr-during-2023-28
• https://www.digitaljournal.com/pr/news/imarc/streaming-media-devices-market-set-to-hit-us-27-5-billion-14-1-of-cagr-during-2023-28
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Exploring the Digital Remittance Market: Trends, Growth, and Future Outlook, Report 2023-2028 | IMARC Group here
News-ID: 3117703 • Views: …
More Releases from IMARC Group
Retirement Planning Services Business Plan 2025: Market Overview and Investment …
IMARC Group's "Retirement Planning Services Business Plan and Project Report 2025: Industry Trends, Business Setup, Revenue Model, Investment Opportunities, Income, Expenses, and Profitability" delivers a complete framework for establishing and managing a profitable retirement planning services firm. This report provides detailed insights into market trends, investment opportunities, financial forecasts, and operational models. It serves as a vital tool for entrepreneurs, consultants, and investors aiming to evaluate business feasibility or enhance…
Indonesia Facility Management Market Overview & Statistics, Size, Share, Industr …
As indicated in the latest market research report published by IMARC Group, titled "Indonesia Facility Management Market Report by Facility Management Type (Inhouse Facility Management, Outsourced Facility Management), Offering Type (Hard FM, Soft FM), End User (Commercial, Institutional, Public/Infrastructure, Industrial, Others), and Region 2025-2033," the report presents a thorough review featuring the Indonesia facility management market share, growth, trends, and research of the industry.
Market Size & Future Growth Potential:
The Indonesia…
Singapore Logistics Market Statistics & Trends, Outlook, Size, Share, Industry A …
As indicated in the latest market research report published by IMARC Group, titled "Singapore Logistics Market Report by Model Type (2 PL, 3 PL, 4 PL), Transportation Mode (Roadways, Seaways, Railways, Airways), End Use (Manufacturing, Consumer Goods, Retail, Food and Beverages, IT Hardware, Healthcare, Chemicals, Construction, Automotive, Telecom, Oil and Gas, Others), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It…
Milk Processing Plant Setup in India 2025: Business Plan, Opportunities, Cost, a …
Overview: Expanding Opportunities in India's Dairy Processing Sector
India's dairy industry is witnessing unprecedented growth, driven by rising consumption of milk and milk-based products, increasing urbanization, and government initiatives supporting rural dairy development. Within this expanding sector, the establishment of a milk processing plant presents a promising business opportunity for entrepreneurs and investors. Milk processing is a crucial component of the dairy value chain, transforming raw milk into products such as…
More Releases for Digital
Introducing Digital Sales Pro, Inc: Revolutionizing Digital Sales in the Digital …
Digital Sales Pro, Inc. is a company that helps content creators and publishers make money from content and reach a larger audience with their craft.
In today's world, it can be tough for content creators and publishers to make money and connect with their audience.
At, Digital Sales Pro, Inc. we understand these challenges and have created a suite of solutions that help our clients build a strong online presence, monetize…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
Introduction
The healthcare industry has seen significant growth and development over the years, with technology playing a critical role in transforming patient care. One such innovative technology that has emerged in recent years is the Global Digital Twin in Healthcare Market. This technology allows healthcare professionals to create a virtual replica of a patient's physical self, enabling them to monitor and analyze patient data in real-time. The Global Digital Twin in…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
In 2021, the market for Digital Twin in Healthcare worldwide was worth $6.75 billion US dollars. AMR Group projects that the market will reach US$ 96.5 billion by 2031, growing at a CAGR of 40 percent between 2022 and 2031.
Industry Overview
Digital twins are virtual copies of physical objects or things that data scientist & IT professionals can use to compute simulations prior to developing and deploying the original devices. Digital…
Digital Therapeutics Market, Digital Therapeutics Market Size, Digital Therapeut …
The global digital therapeutics market is expected to reach US$ 8,941.1 Mn by 2025 from US$ 1,993.2 Mn in 2017. The market is estimated to grow with a CAGR of 20.8% during the forecast period from 2018 to 2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant…
Digital Advertising on Mobil Market Analysis 2019 Top Growing Companies: Adverti …
Digital Advertising on Mobil Market
Digital Advertising on Mobile Market is a type of advertising that shows that mobile devices such as smart phones and tablets have wireless connectivity. For mobile devices with fewer lenses than computers or laptops, digital media formats are often the most suitable for small displays through outputs. Telephone advertising is the communication of products or services of mobile devices and consumers. Telephone announcements range from…
Digital Display Market Future Growth with Worldwide Players (Digital Virgo, Digi …
Digital Display Industry 2019 Global Market 2025 research report represents the historical overview of current Market situation, size, share, trends, growth, supply, outlook and manufacturers with detailed analysis. It also focuses on Digital Display volume and value at global level, regional level and company level. From a global perspective, this report represents overall Digital Display market size by analyzing historical data and future prospect.
Get Sample Copy of this Report -…
