The payments industry dynamics have been changing rapidly and has facilitated digital payments and money transfers easier and quicker. Many individuals in the under-developed economies move to the developed countries in search of better lifestyle and incomes. They earn and then send money to their families back at home which earlier used to be a tedious and expensive affair. With digital money transfer platforms, the funds transfer involving currency exchanges has becomes easier, convenient and inexpensive. Various additional value-added services are anticipated to be coupled with the digital money transfer landscape in the coming years.
Growing number of immigrants in the Western countries from the under-developed regions of the world, coupled with an improving internet infrastructure have provided a thrust to the payments landscape over the years. Further, need for easier and quicker remittance and payments service has driven the demands for digital money transfer market. Emergence of alternative platforms such as mobile wallets would pose a challenge to the growth of digital money transfer market. Additionally, focus on Peer-to-Peer (P2P) money transfer services is anticipated to generate vast growth opportunities for the players operating in the digital money transfer market.
The "Global Digital Money Transfer Market Analysis to 2027" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the digital money transfer market with detailed market segmentation by type, application and geography. The global digital money transfer market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading digital money transfer market players and offers key trends and opportunities in the market.
The global digital money transfer market is segmented on the basis of type and application. Based on type, the digital money transfer market is segmented into domestic money transfer and international money transfer. On the basis of application, the digital money transfer market is segmented into consumer and enterprise.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global digital money transfer market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The digital money transfer market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the digital money transfer market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the digital money transfer in these regions.
The reports cover key developments in the digital money transfer market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from digital money transfer market are anticipated to lucrative growth opportunities in the future with the rising demand for digital money transfer in the global market. Below mentioned is the list of few companies engaged in the digital money transfer market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the digital money transfer market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- MoneyGram International Inc.
- Paypal, Inc. (Xoom)
- Ria Money Transfer
- TransferGo Ltd.
- TransferWise Ltd
- Western Union
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.