Asia-Pacific Digital Remittance Market is Thriving Worldwide

Digital remittance is referred as the transfer of money by foreign migrants in their native countries by using digital transfer network such as easy-to-use mobile application, digital wallet, and others. Rise in cross-border transactions and mobile-based payment channels, reduced remittance cost & transfer time, and growth in 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 rise in internet and mobile penetration in this region are expected to present major opportunities for market expansion in the near future.

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

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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 bank, money transfer operator, and others. By end user, it is categorized into personal and business. Based on country, it is analyzed across China, Japan, India, Hong Kong, Singapore, Taiwan, Indonesia, and Rest of Asia-Pacific.

The Asia-Pacific digital remittance market was led by China in 2016, and is projected to maintain its dominance during the forecast period. However, Singapore is expected to witness the highest growth, owing to the emergence of number of remittance technology start-ups in Singapore and widespread use of communication applications or social networking among foreign workers.

KEY BENEFITS

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, restrains, and opportunities and their impact analysis on the market size is 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.

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Table of Contents

Chapter 1: Introduction

Chapter 2: Executive Summary

Chapter 3: Market Overview

Chapter 4: Asia-Pacific Digital Remittance Market by Remittance Type

Chapter 5: Digital Remittance Market By Remittance Channel

Chapter 6: Digital Remittance Market By End User

Chapter 7: Asia-Pacific Digital Remittance Market by Geography

Chapter 8: Company Profiles

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Posted by on Wednesday July 17 2019, 9:50 AM EDT. All trademarks acknowledged. Filed under Banking, Business & Financial Services, Business Services, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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