Asia-Pacific Digital Remittance Market by Remittance Type (Inward Digital Remittance, and Outward Digital Remittance), and Remittance Channel (Banks, Money Transfer Operators (MTOs), and Others): Opportunity Analysis and Industry Forecast, 2019–2026

Asia-Pacific Digital Remittance Market by Remittance Type (Inward Digital Remittance, and Outward Digital Remittance), and Remittance Channel (Banks, Money Transfer Operators (MTOs), and Others): Opportunity Analysis and Industry Forecast, 2019–2026

The Asia-Pacific digital remittance market was valued at $49,851.9 million in 2018, and is estimated to reach $269,784.7 million by 2026, registering a CAGR of 23.4% from 2019 to 2026.

Digital remittance is referred as the transfer of money by foreign migrants to their native countries by using digital transfer network such as easy-to-use mobile application, digital wallets, and others.The remittance industry is shifting itsfocus on being digitally remastered. Factors such as growth in base of customers comfortable with using mobile devices in Asia-Pacific, rise in competition from new entrants, and margin pressures due to a growing consensus on lowering remittance transaction fees drives the penetration of digital channels. Existing remittance service providers in this region adopt digital channels to complement their existent services network whilst new entrants. Numerous benefits of using digital channels for sending money such as high speed, availability of digital channels throughout the day, transparency, ease of use, high security, and others, create numerous opportunities for the market

In addition, adoption of digital remittance is projected to reduce the dependency on cash agents in both the sending and receiving countries, who currently contributes to sustaining high transaction fees. This is also a factor to boost digital remittance market. Furthermore, increase in cross-border transactions and move towards cashless, mobile banking, and mobile-based payment solutions dominate payment trends in Asia-Pacific, which drives the growth of the digital remittance market. However, lack of awareness of use of digital technology is expected to hamper the market growth. On the contrary, technological innovations in the digital remittance industry in this region primarily to provide user-friendly apps and smarter ways to connect to domestic payment systems is expected to provide growth opportunities for the market.

The Asia-Pacific digital remittance market is studied on the basis of remittance type, remittance channel, and country. By remittance type, the market is divided intoinward digital remittance, and outward digital remittance. Depending onremittance channel,it is categorized into banks, money transfer operators (MTOs), and others. In-depth analysis of the Asia-Pacific digital remittance market is provided for China, IndiaHong Kong, Japan, Singapore, Indonesia, Taiwan and Rest of Asia-Pacific

KEY MARKET BENEFITS FOR STAKEHOLDERS

This report entails a detailed quantitative analysis of the current market trends from 2019 to 2026 to identify the prevailing opportunities.
Market estimations are based on a comprehensive analysis of the key developments in the industry.
In-depth analysis based on region assists to understand the regional market to assist in strategic business planning.
The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

KEY MARKET SEGMENTS


By Remittance Type

Inward Digital Remittance
Outward Digital Remittance

ByRemittance Channel

Banks,
Money Transfer Operators (MTOs)
Others

By Country

China
India
Hong Kong
Japan
Singapore
Indonesia
Taiwan
Rest of Asia-Pacific

KEY PLAYERS PROFILED

InstaReM,
Remitly, Inc.,
Flywire
SingX Pte Ltd.
Azimo Limited
WorldRemit Ltd.
TransferWise Ltd.
Ripple
MoneyGram
TNG Wallet

Other players of digital remittance market (not included in this report) are :

Western Union (WU)
Ria Financial Services
Coins.ph
Toast
OrbitRemit
Avenues India Pvt. Ltd.
FlyRemit
WeChat Payment


CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Research methodology
1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porter's five forces analysis
3.4. Demographic and psychographic analysis of customers
3.5. Key insights on ticket size
3.6. Key player positioning, 2018
3.7. Market dynamics
3.7.1. Drivers
3.7.1.1. Rise in cross-border transactions and mobile-based payment channels
3.7.1.2. Reduced remittance cost & transfer time
3.7.1.3. Growth in adoption of banking & financial services
3.7.1.4. Increase of the remittance industry in Asia-Pacific
3.7.2. Restraint
3.7.2.1. Lack of awareness
3.7.3. Opportunities
3.7.3.1. Technological innovations in the digital remittance industry
3.7.3.2. Rise in internet and mobile penetration
CHAPTER 4: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE TYPE
4.1. Overview
4.2. Inward digital remittance
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast, by country
4.2.4. Market analysis by country
4.3. Outward digital remittance
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast, by country
4.3.4. Market analysis by country
CHAPTER 5: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL
5.1. Overview
5.2. Banks
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast, by country
5.2.4. Market analysis by country
5.3. Money transfer operator
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast, by country
5.3.4. Market analysis by country
5.4. Others
5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast, by country
5.4.4. Market analysis by country
CHAPTER 6: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY COUNTRY
6.1. Overview
6.2. China
6.2.1. Key growth factors and opportunities
6.2.2. Market size and forecast, by remittance type
6.2.3. Market size and forecast, by remittance channel
6.2.4. China digital remittance Market size by top 10 corridor (Outward, 2017)
6.3. Japan
6.3.1. Key growth factors and opportunities
6.3.2. Market size and forecast, by remittance type
6.3.3. Market size and forecast, by remittance channel
6.3.4. Japan digital remittance market size by top 10 corridor (Outward, 2017)
6.4. India
6.4.1. Key growth factors and opportunities
6.4.2. Market size and forecast, by remittance type
6.4.3. Market size and forecast, by remittance channel
6.4.4. India digital remittance Market size by top 10 corridor (Outward, 2017)
6.5. Hong Kong
6.5.1. Key growth factors and opportunities
6.5.2. Market size and forecast, by remittance type
6.5.3. Market size and forecast, by remittance channel
6.5.4. Hong Kong digital remittance Market size by top 10 corridor (Outward, 2017)
6.6. Singapore
6.6.1. Key growth factors and opportunities
6.6.2. Market size and forecast, by remittance type
6.6.3. Market size and forecast, by remittance channel
6.6.4. Singapore digital remittance Market size by top 10 corridor (Outward, 2017)
6.7. Indonesia
6.7.1. Key growth factors and opportunities
6.7.2. Market size and forecast, by remittance type
6.7.3. Market size and forecast, by remittance channel
6.7.4. Indonesia digital remittance Market size by top 10 corridor (Outward, 2017)
6.8. Taiwan
6.8.1. Key growth factors and opportunities
6.8.2. Market size and forecast, by remittance type
6.8.3. Market size and forecast, by remittance channel
6.9. Rest of Asia-Pacific
6.9.1. Key growth factors and opportunities
6.9.2. Market size and forecast, by remittance type
6.9.3. Market size and forecast, by remittance channel
CHAPTER 7: COMPANY PROFILES
7.1. AZIMO LTD.
7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Product portfolio
7.1.4. Key strategic moves and developments
7.2. FLYWIRE CORPORATION.
7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Product portfolio
7.2.4. Key strategic moves and developments
7.3. INSTAREM
7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Product portfolio
7.3.4. Key strategic moves and developments
7.4. MONEYGRAM INTERNATIONAL, INC.
7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio
7.4.5. Business performance
7.4.6. Key strategic moves and developments
7.5. REMITLY, INC.
7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Key strategic moves and developments
7.6. RIPPLE
7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Product portfolio
7.6.4. Key strategic moves and developments
7.7. SINGX PTE LTD
7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Product portfolio
7.7.4. Key strategic moves and developments
7.8. TNG FINTECH GROUP INC.
7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Product portfolio
7.8.4. Key strategic moves and developments
7.9. TRANSFERWISE LTD.
7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Product portfolio
7.9.4. Business performance
7.9.5. Key strategic moves and developments
7.10. WORLDREMIT LTD
7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Product portfolio
7.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 01. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY REMITTANCE TYPE, 2018–2026 ($MILLION)
TABLE 02. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR INWARD DIGITAL REMITTANCE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 03. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR OUTWARD DIGITAL REMITTANCE, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 04. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 05. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR BANKS, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 06. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR MONEY TRANSFER OPERATOR, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 07. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR OTHERS, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 08. ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 09. CHINA DIGITAL REMITTANCE MARKET SIZE
TABLE 10. CHINA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 11. JAPAN DIGITAL REMITTANCE MARKET SIZE
TABLE 12. JAPAN DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 13. INDIA DIGITAL REMITTANCE MARKET SIZE
TABLE 14. INDIA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 15. HONG KONG OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 16. HONG KONG DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 17. SINGAPORE OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 18. SINGAPORE DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 19. INDONESIA DIGITAL REMITTANCE MARKET SIZE
TABLE 20. INDONESIA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 21. TAIWAN DIGITAL REMITTANCE MARKET SIZE
TABLE 22. TAIWAN DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 23. ASIA-PACIFIC DIGITAL REMITTANCE MARKET SIZE
TABLE 24. REST OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2018–2026 ($MILLION)
TABLE 25. AZIMO LTD.: COMPANY SNAPSHOT
TABLE 26. AZIMO LTD.: PRODUCT PORTFOLIO
TABLE 27. FLYWIRE CORPORATION: COMPANY SNAPSHOT
TABLE 28. FLYWIRE CORPORATION: PRODUCT PORTFOLIO
TABLE 29. INSTAREM: COMPANY SNAPSHOT
TABLE 30. INSTAREM: PRODUCT PORTFOLIO
TABLE 31. MONEYGRAM INTERNATIONAL, INC: COMPANY SNAPSHOT
TABLE 32. MONEYGRAM INTERNATIONAL, INC: OPERATING SEGMENTS
TABLE 33. MONEYGRAM INTERNATIONAL, INC: PRODUCT PORTFOLIO
TABLE 34. REMITLY, INC: COMPANY SNAPSHOT
TABLE 35. RIPPLE: COMPANY SNAPSHOT
TABLE 36. RIPPLE: PRODUCT PORTFOLIO
TABLE 37. SINGX PTE LTD: COMPANY SNAPSHOT
TABLE 38. SINGX PTE LTD: PRODUCT PORTFOLIO
TABLE 39. TNG FINTECH GROUP INC: COMPANY SNAPSHOT
TABLE 40. TNG FINTECH GROUP INC: PRODUCT PORTFOLIO
TABLE 41. TRANSFERWISE LTD.: COMPANY SNAPSHOT
TABLE 42. TRANSFERWISE LTD: PRODUCT PORTFOLIO
TABLE 43. WORLDREMIT LTD: COMPANY SNAPSHOT
TABLE 44. WORLDREMIT LTD: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01. ASIA-PACIFIC DIGITAL REMITTANCE MARKET, 2018–2026
FIGURE 02. ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY COUNTRY, 2018–2026
FIGURE 03. ASIA-PACIFIC DIGITAL REMITTANCE MARKET: KEY PLAYERS
FIGURE 04. ASIA-PACIFIC DIGITAL REMITTANCE MARKET SEGMENTATION
FIGURE 05. ASIA-PACIFIC DIGITAL REMITTANCE MARKET: TOP IMPACTING FACTOR
FIGURE 06. ASIA-PACIFIC DIGITAL REMITTANCE MARKET: TOP INVESTMENT POCKETS
FIGURE 08. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2016-2018* (%)
FIGURE 09. TOP WINNING STRATEGIES, BY COMPANY, 2016-2018*
FIGURE 10. MODERATE BARGAINING POWER OF SUPPLIER
FIGURE 11. HIGH BARGAINING POWER OF BUYER
FIGURE 12. HIGH THREAT OF SUBSTITUTES
FIGURE 13. HIGH THREAT OF NEW ENTRANTS
FIGURE 14. MODERATE-TO-HIGH COMPETITIVE RIVALRY
FIGURE 15. ASIA-PACIFIC DIGITAL REMITTANCE MARKET: KEY PLAYER POSITIONING, 2018
FIGURE 16. DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR INWARD DIGITAL REMITTANCE, BY COUNTRY, 2018 & 2026(%)
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR OUTWARD DIGITAL REMITTANCE, BY COUNTRY, 2018 & 2026(%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR BANKS, BY COUNTRY, 2018 & 2026(%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR MONEY TRANSFER OPERATOR, BY COUNTRY, 2018 & 2026(%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR OTHERS, BY COUNTRY, 2018 & 2026(%)
FIGURE 22. CHINA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 23. JAPAN DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 24. INDIA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 25. HONG KONG DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 26. SINGAPORE DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 27. INDONESIA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 28. MONEYGRAM INTERNATIONAL, INC: REVENUE, 2015–2017 ($MILLION)
FIGURE 29. MONEYGRAM INTERNATIONAL, INC: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 30. MONEYGRAM INTERNATIONAL, INC: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 31. TRANSFERWISE LTD, INC: REVENUE, 2018–2019 ($MILLION)

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