July 13, 2020
According to a market research report on the title ‘Global Digital Money Transfer and Remittance Market - Analysis By Type , By Application: Sizing, Growth, Opportunities and Forecast (2019-2024)’, available with Market Study Report LLC, global digital money transfer and remittance market is projected to grow with a CAGR of 11.75% during 2019-2024 .
The report on global digital money transfer and remittance market is based on extensive primary research and consists of inputs from various companies, stakeholders and industry experts along with secondary research. The report entails geographical analysis of the market space which includes regions like APAC, North America, Europe, and Rest of the world and countries like China, US, UK, Germany and Canada.
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As per the report, rapid urbanization, surging working population coupled with rising income, and extensive installation of POS systems across various industries such as healthcare, retail, restaurants, ecommerce, and transportation are augmenting the growth of global digital money transfer & remittance market. Also, government initiatives aimed towards digitalization and consumer preference for digital payments are contributing to the market growth. However, rising threat of cybercrimes and unhindered existence of cash will act as restraints for the industry outlook.
The report offers insights on growth factors while enlisting market size & shares and analyses the potential. It aims to guide the decision makers in investment evaluation. Furthermore, the report identifies the emerging trends, challenges, key drivers, and opportunities prevailing in global digital money transfer and remittance market. It also unveils entry strategies followed various companies across the globe.
Based on application spectrum, the market is segmented into consumer and enterprise. Speaking of type terrain, the market is divided into domestic and international.
Key players in global digital money transfer and remittance market are PayPal Inc., Western Union Co., MoneyGram International Inc., Ria Financial Co., and Avenues Payments India Pvt. Ltd. among others.