DUBLIN--(BUSINESS WIRE)--The "Global Digital Remittance Market By Type, By End Use, By Channel, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Remittance Market size is expected to reach $33.9 billion by 2026, rising at a market growth of 17.2% CAGR during the forecast period.
Migrant labor force is the most significant driver of globalization. In the future, blockchain technology will have a far-reaching impact on the remittance market. Many traditional banks, fintech and other financial institutions have studied and tested the blockchain technologies used in the amount of money transfers. Around the same time, several firms, such as Ant Financial/Alipay, Coins.ph, Auxesis, Bitspark, Rebit and Cashaa, have launched their offerings into remittances.
These remittances are a lifeline for countless people around the world. In 2016 alone, the World Bank reported that more than $600 billion in remittances is expected to be sent by immigrants. Remittances have traditionally been expensive due to threats and inefficiencies in handling and transferring capital across borders. However, for the first time, there is a clear direct link to how digital technologies not only aim to make money flowing across boundaries more accessible for people, but also how they have the ability to minimize global poverty rates on a macro scale.
Some of the main remittance countries - the United States, Switzerland, Germany, France and Italy - are trapped in the COVID-19 pandemic, and service-sector jobs have been hard hit since the start of the health crisis. Migrants working in hotels, restaurants, and salons have lost their jobs without future government help. At worst, they cannot even go back to their country of birth due to travel limits. This group needs to receive targeted support.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ripple Labs, Inc., Remitly, Inc., WorldRemit Ltd., TransferWise Ltd., TransferGo Ltd., NIUM Pvt. Ltd., Digital Wallet Corporation, Azimo Limited, Mobetize Corporation, and Arcus Financial Intelligence, Inc.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.3 Market Scope
1.4.1 Global Digital Remittance Market, by Type
1.4.2 Global Digital Remittance Market, by End Use
1.4.3 Global Digital Remittance Market, by Channel
1.4.4 Global Digital Remittance Market, by Geography
1.5 Methodology for the Research
Chapter 2. Market Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Recent Industry Wide Strategic Developments
3.1.1 Partnerships, Collaborations and Agreements
3.1.2 Product Launches and Product Expansions
3.1.3 Business Unit Expansions
3.1.4 Geographical Expansions
3.1.5 Mergers & Acquisitions
3.2 Top Winning Strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.2.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2018, Feb - 2020, Apr) Leading Players
Chapter 4. Global Digital Remittance Market by Type
4.1 Global Digital Remittance Outward Market by Region
4.2 Global Digital Remittance Inward Market by Region
Chapter 5. Global Digital Remittance Market by End Use
5.1 Global Digital Remittance Personal Market by Region
5.2 Global Digital Remittance Small Businesses Market by Region
5.3 Global Digital Remittance Migrant Labor Workforce Market by Region
5.4 Global Other End Use Digital Remittance Market by Region
Chapter 6. Global Digital Remittance Market by Channel
6.1 Global Money Transfer Operators Digital Remittance Market by Region
6.2 Global Online Platforms Digital Remittance Market by Region
6.3 Global Banks Digital Remittance Market by Region
6.4 Global Others Digital Remittance Market by Region
Chapter 7. Global Digital Remittance Market by Region
7.1 North America Digital Remittance Market
7.2 Europe Digital Remittance Market
7.3 Asia-Pacific Digital Remittance Market
7.4 LAMEA Digital Remittance Market
Chapter 8. Company Profiles
8.1 Ripple Labs, Inc.
8.2 Remitly, Inc.
8.3 WorldRemit Ltd.
8.4 TransferWise Ltd.
8.5 TransferGo Ltd.
8.6 NIUM Pvt. Ltd.
8.7 Digital Wallet Corporation
8.8 Azimo Limited
8.9 Mobetize Corporation
8.10 Arcus Financial Intelligence, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bor52m