Global Digital Remittance Market Report 2022 to 2027: Players Include InstaReM, MoneyGram International, OrbitRemit and PayPal Holdings - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 5, 2023--
The “Global Digital Remittance Market (2022-2027) by Remittance Type, Remittance Channel, Application, End Users, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Digital Remittance Market is estimated to be USD 21.2 Bn in 2022 and expected to reach USD 37.85 Bn by 2027, growing at a CAGR of 12.29%.
Market dynamics are forces that impact the prices and behaviors of the Global Digital Remittance Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing risks.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
The report presents a detailed Ansoff matrix analysis for the Global Digital Remittance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Digital Remittance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Digital Remittance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst’s competitive positioning tool.
- Rising Digitization and Penetration of Smartphone
- Adoption of Transparent and Secure Banking and Financial Services
- Increase in Migrants Remission
- Reduced Remittance Cost and Transfer Time
- Inadequate Infrastructure and Connectivity
- Technology Innovation and Technology Penetration in Developing Economies
- Adoption of Blockchain Technology Integrated Platforms
- Lack of Awareness and Guidance
- Cybersecurity Concern
The Global Digital Remittance Market is segmented based on Remittance Type, Remittance Channel, Application, End Users, and Geography.
- By Remittance Type, the market is classified into Inward Digital Remittance and Outward Digital Remittance.
- By Remittance Channel, the market is classified into Banks Digital Remittance and Digital Money Transfer Operators.
- By Application, the market is classified into Consumption, Saving, and investment.
- By End Users, the market is classified into Business and Personal.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
- Azimo B.V.
- Digital Wallet Corp.
- Flywire Corp.
- InstaReM PTE Ltd.
- MoneyGram International, Inc.
- OrbitRemit Ltd.
- PayPal Holdings, Inc.
- Pontual Money Transfer
- Remitly, Inc.
- Ria Financial Services Ltd.
- Ripple Labs Inc.
- Currency Cloud Ltd.
- Western Union Company
- TransferGo Ltd.
- Western Union Holdings, Inc.
- Wise Payments Ltd.
- WorldRemit Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/mwisma
View source version on businesswire.com:https://www.businesswire.com/news/home/20230105005661/en/
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SOURCE: Research and Markets
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PUB: 01/05/2023 09:30 AM/DISC: 01/05/2023 09:31 AM