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Remittance Global Market Report 2022: Significant Growth in the BFSI Industries Boosts Sector - ResearchAndMarkets.comThe "Remittance Market Size, Share & Trends Analysis Report By Mode Of Transfer (Digital, Traditional), By Type (Inward, Outward), By Channel, By End-use, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering. The global remittance market size is expected to reach USD 107.80 billion by 2030, growing at a CAGR of 10.1% from 2022 to 2030. Significant growth in the Banking, Financial Services, and Insurance (BFSI) industry around the world is one of the major factors behind the market's positive outlook. Furthermore, the widespread adoption of digital and automated payment and money transfer solutions is propelling the market's growth. Financial organizations are using data-driven and transparent ecosystems for money remittance to expand their business networks and provide low remittance costs to their customers. Technological solutions, including the implementation of real-time banking technology to leverage the capabilities of Immediate Payment Service (IMPS), also contribute to market growth. Other factors, such as rising consumer spending power and rapid urbanization and industrialization, particularly in developing economies, are expected to drive the remittance industry further. In January 2020, WorldRemit partnered with Alipay, a lifestyle and payment platform. The collaboration enabled customers to use the WorldRemit website or application for international remittances to the Alipay application, bringing convenience and inclusion transfer services to users across the globe. The collaboration with WorldRemit is another step in Alipay's efforts to harness the power of mobile and digital technology to make financial services more affordable and inclusive, particularly for underbanked individuals worldwide. The COVID-19 pandemic has highlighted the need for updating traditional business models to sustain the evolving business environment. As the virus continue to spread globally, there has been a significant proliferation in demand for digital remittance solutions to transfer money across regions quickly and effectively. As a result, the pandemic is an important growth catalyst for digitizing remittance services. Remittance Market Report Highlights
Key Topics Covered: Chapter 1 Methodology and Scope Chapter 2 Executive Summary Chapter 3 Remittance Industry Outlook Chapter 4 Remittance Mode of Transfer Outlook 4.1. Remittance Market Share By Mode of Transfer, 2021 4.2. Digital 4.3. Traditional (Non-digital) Chapter 5 Remittance Type Outlook 5.1. Remittance Market Share By Type, 2021 5.2. Inward Remittance 5.3. Outward Remittance Chapter 6 Remittance Channel Outlook 6.1. Remittance Market Share By Channel, 2021 6.2. Banks 6.3. Money Transfer Operators 6.4. Online Platforms (Wallets) Chapter 7 Remittance End-use Outlook 7.1. Remittance Market Share By End-use, 2021 7.2. Migrant Labor Workforce 7.3. Personal 7.4. Small Businesses 7.5. Others Chapter 8 Remittance Regional Outlook Chapter 9 Competitive Analysis Chapter 10 Competitive Landscape Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/gmqjvy About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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