Around 400 million of the two billion unbanked people in the world have some forms of mobile money account. The global remittance revenue generated from digital channels is estimated to be less than 6% of the total but is progressively growing. However, a predominant endto-enddigital scenario is still some time off. The growth of the digital remittance market is driven by rise in digitization & automation, reduced remittance cost & transfer time, and growth in adoption of banking & financial services. Furthermore, regulatory initiatives that encourage all financial institutions to become more transparent and nurture richer ecosystems of data & partners supplement the market growth. However, lack of awareness & guidance is a major factor that restrains people from opting for digital remittance transfer mode. Increase in access of financial services such as basic bank accounts among remittance recipients and rise in internet usage offer growth opportunities for the market. Over the next five years, Expert projects that Mobile Remittance Service will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Mobile Remittance Service market by product type, application, key companies and key regions.
To calculate the market size, Expert considers value generated from the sales of the following segments: The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report: Mobetize Corp. Remitly Regalii peerTransfer Currency Cloud Azimo WorldRemit TransferWise Ripple MoneyGram
This report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Segmentation by product type: Banks Money Transfer Operators Segmentation by application: Migrant Labor Workforce Low-income Households Small Businesses Others
We can also provide the customized separate regional or country-level reports, for the following regions: Americas United States Canada Mexico Brazil APAC China Japan Korea Southeast Asia India Australia Europe Germany France UK Italy Russia Spain Middle East & Africa Egypt South Africa Israel Turkey GCC Countries
Research objectives To study and analyze the global Mobile Remittance Service market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023. To understand the structure of Mobile Remittance Service market by identifying its various subsegments. Focuses on the key global Mobile Remittance Service players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the Mobile Remittance Service with respect to individual growth trends, future prospects, and their contribution to the total market. To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). To project the size of Mobile Remittance Service submarkets, with respect to key regions (along with their respective key countries). To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market. To strategically profile the key players and comprehensively analyze their growth strategies.
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