TMCnet News
Global Digital Remittance Market Analysis 2021-2028 by Type (Inward, Outward), & Channel (Banks, Money Transfer Platforms, Online Platforms) - ResearchAndMarkets.comThe "Global Digital Remittance Market Size, Share & Trends Analysis Report by Type (Inward, Outward), by Channel (Banks, Money Transfer Platforms, Online Platforms), by End-use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering. The global digital remittance market size is expected to reach USD 42.46 billion by 2028 and is anticipated to expand at a CAGR of 13.3%. The market growth can be attributed to the increasing transfer of money by overseas migrants to their native countries. These money transfers can be done by using digital transfer networks, such as digital wallets and easy-to-use mobile applications. Various factors, such as ease of usability and reduced user fees related to digital remittance services, are expected to contribute to market growth. Numerous benefits are offered by these services, such as lower cost of the transaction, high payment speed, and convenience, among others. Customers have shifted their focus toward digital transactions for money remittance as these services eliminate the need for tedious form-filling processes. An increase in cross-border transactions and rapid growth in the adoption of mobile banking are expected to propel market growth over the forecast period. Numerous banks and online platforms are focusing on lowerig transaction fees, thereby creating growth opportunities for market growth. Furthermore, the increasing adoption of digital transfer networks, such as electronic identification, distributed ledgers, digital currencies, and mobile money to remit money, has made cross-border payments easier. The outbreak of the COVID-19 pandemic is expected to favorably impact the market. Nowadays, numerous consumers across the globe are using digital wallets and online platforms to remit money to their family and friends. The need for global remittances is expected to increase owing to worldwide restrictions on movement. Digital Remittance Market Report Highlights
Digital Remittance Industry Outlook Market driver analysis
Market restraint analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/h0q810
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005629/en/ |