Asia-Pacific Digital Remittance Market by Remittance Type (Inward Digital Remittance and Outward Digital Remittance), Remittance Channel (Bank, Money Transfer Operator (MTO), and Others), and End User (Business and Personal) - Opportunity Analysis and Industry Forecast, 2018-2025
- ALL2650531
- 152 Pages
- July 2018
- BFSI
Digital remittance is referred as the transfer of money by foreign migrants in their native countries by using digital transfer network such as easy-to-use mobile application, digital wallet, and others. The market witnesses entry of digital remittance operators, which poses a serious challenge to traditional cash-in-hand providers due to reduced user fees and ease of usability. Numerous benefits of using digital remittance such as convenience, speed, lower cost, elimination of the need for tedious form-filling processes, agents, and codes and others have shifted the focus of consumers toward digital transactions for money remittance.
Rise in cross-border transactions and mobile-based payment channels, reduced remittance cost & transfer time, and growth in adoption of banking & financial services drive the growth of the market. However, lack of awareness and slowdown of the remittance industry in Asia-Pacific is expected to impede the market growth. Conversely, continuous technological innovations in digital remittance industry as well as rise in internet and mobile penetration in this region are expected to present major opportunities for market expansion in the near future.
The Asia-Pacific digital remittance market is segmented based on remittance type, remittance channel, end user, and country. Based on remittance type, the market is bifurcated into inward and outward digital remittance. Based on remittance channel, the market is divided into bank, money transfer operator, and others. By end user, it is categorized into personal and business. Based on country, it is analyzed across China, Japan, India, Hong Kong, Singapore, Taiwan, Indonesia, and Rest of Asia-Pacific.
The report provides the profiles of key players, namely InstaReM, Remitly, Inc., Flywire, SingX Pte Ltd., Azimo Limited, WorldRemit Ltd., TransferWise Ltd, Ripple, MoneyGram, and TNG Wallet.
KEY BENEFITS
- The study provides an in-depth analysis of the Asia-Pacific digital remittance market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the Asia-Pacific digital remittance industry.
- The quantitative analysis of the Asia-Pacific digital remittance market from 2016 to 2025 is provided to determine the market potential.
KEY MARKET SEGMENTS
BY REMITTANCE TYPE
- Inward Digital Remittance
- Outward Digital Remittance
BY REMITTANCE CHANNEL
- Bank
- Money Transfer Operator (MTO)
- Others
BY END USER
- Business
- Personal
BY COUNTRY
- China
- Japan
- India
- Hong Kong
- Singapore
- Taiwan
- Indonesia
- Rest of Asia-Pacific
KEY MARKET PLAYERS
- InstaReM
- Remitly, Inc.
- Flywire
- SingX Pte Ltd.
- Azimo Limited
- WorldRemit Ltd
- TransferWise Ltd
- Ripple
- MoneyGram
- TNG Wallet.
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, 2016
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
3.7.2. Restraints
3.7.2.1. Slowdown of the remittance industry in Asia-Pacific
3.7.2.2. Lack of awareness
3.7.3. Opportunities
3.7.3.1. Technological innovations in 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 END USER
6.1. OVERVIEW
6.2. BUSINESS
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast, by country
6.2.4. Market analysis by country
6.3. PERSONAL
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast, by country
6.3.4. Market analysis by country
6.3.4.1. Personal digital remittance market size and forecast by type
6.3.4.1.1. White Collar Workforce
6.3.4.1.1.1. Key growth factors and opportunities
6.3.4.1.1.2. White collar workforce market size and forecast, by type
6.3.4.1.2. Blue Collar Workforce
6.3.4.1.2.1. Key growth factors and opportunities
6.3.4.1.2.2. Blue collar workforce market size and forecast, by type
CHAPTER 7: ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY COUNTRY
7.1. OVERVIEW
7.2. CHINA
7.2.1. Key growth factors and opportunities
7.2.2. Market size and forecast, by remittance channel
7.2.3. Market size and forecast, by end user
7.2.4. China digital remittance Market size by top 10 corridor (Outward, 2017)
7.2.5. China outward digital remittance market size
7.3. JAPAN
7.3.1. Key growth factors and opportunities
7.3.2. Market size and forecast, by remittance channel
7.3.3. Market size and forecast, by end user
7.3.4. Japan digital remittance market size by top 10 corridor (Outward, 2017)
7.3.5. Japan outward digital remittance market size
7.4. INDIA
7.4.1. Key growth factors and opportunities
7.4.2. Market size and forecast, by remittance channel
7.4.3. Market size and forecast, by end user
7.4.4. India digital remittance Market size by top 10 corridor (Outward, 2017)
7.4.5. India outward digital remittance market size
7.5. HONG KONG
7.5.1. Key growth factors and opportunities
7.5.2. Market size and forecast, by remittance channel
7.5.3. Market size and forecast, by end user
7.5.4. Hong Kong digital remittance Market size by top 10 corridor (Outward, 2017)
7.5.5. Hong Kong outward digital remittance market size
7.6. SINGAPORE
7.6.1. Key growth factors and opportunities
7.6.2. Market size and forecast, by remittance channel
7.6.3. Market size and forecast, by end user
7.6.4. Singapore digital remittance Market size by top 10 corridor (Outward, 2017)
7.6.5. Singapore outward digital remittance market size
7.7. TAIWAN
7.7.1. Key growth factors and opportunities
7.7.2. Market size and forecast, by remittance channel
7.7.3. Market size and forecast, by end user
7.7.4. Taiwan digital remittance Market size by top 10 corridor (Outward, 2017)
7.7.5. Taiwan outward digital remittance market size
7.8. INDONESIA
7.8.1. Key growth factors and opportunities
7.8.2. Market size and forecast, by remittance channel
7.8.3. Market size and forecast, by end user
7.8.4. Indonesia digital remittance Market size by top 10 corridor (Outward, 2017)
7.8.5. Indonesia outward digital remittance market size
7.9. REST OF ASIA-PACIFIC
7.9.1. Key growth factors and opportunities
7.9.2. Market size and forecast, by remittance channel
7.9.3. Market size and forecast, by end user
CHAPTER 8: COMPANY PROFILES
8.1. AZIMO LTD.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Product portfolio
8.1.4. Key strategic moves and developments
8.2. FLYWIRE CORPORATION.
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Product portfolio
8.2.4. Key strategic moves and developments
8.3. INSTAREM
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Product portfolio
8.3.4. Key strategic moves and developments
8.4. MONEYGRAM INTERNATIONAL, INC.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves and developments
8.5. REMITLY, INC.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Key strategic moves and developments
8.6. RIPPLE
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Product portfolio
8.6.4. Key strategic moves and developments
8.7. SINGX PTE LTD
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Product portfolio
8.7.4. Key strategic moves and developments
8.8. TNG FINTECH GROUP INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Product portfolio
8.8.4. Key strategic moves and developments
8.9. TRANSFERWISE LTD.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Product portfolio
8.9.4. Key strategic moves and developments
8.10. WORLDREMIT LTD
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Product portfolio
8.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 01. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY REMITTANCE TYPE, 2017-2025 ($MILLION)
TABLE 02. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR INWARD DIGITAL REMITTANCE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 03. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR OUTWARD DIGITAL REMITTANCE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 04. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 05. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR BANKS, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 06. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR MONEY TRANSFER OPERATOR, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 07. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR OTHERS, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 08. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY END USER, 2017-2025 ($MILLION)
TABLE 09. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR BUSINESS, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 10. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR PERSONAL, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 11. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE FOR PERSONAL, BY TYPE, 2017-2025 ($MILLION)
TABLE 12. WHITE COLLAR WORKFORCE MARKET REVENUE, BY TYPE, 2017-2025 ($MILLION)
TABLE 13. BLUE COLLAR WORKFORCE MARKET REVENUE, BY TYPE, 2017-2025 ($MILLION)
TABLE 14. ASIA-PACIFIC DIGITAL REMITTANCE MARKET REVENUE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 15. CHINA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 16. CHINA DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 17. CHINA OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 18. JAPAN DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 19. JAPAN DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 20. JAPAN OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 21. INDIA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 22. INDIA DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 23. INDIA OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 24. HONG KONG DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 25. HONG KONG DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 26. HONG KONG OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 27. SINGAPORE DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 28. SINGAPORE DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 29. SINGAPORE OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 30. TAIWAN DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 31. TAIWAN DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 32. TAIWAN OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 33. INDONESIA DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 34. INDONESIA DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 35. INDONESIA OUTWARD DIGITAL REMITTANCE MARKET SIZE
TABLE 36. REST OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY REMITTANCE CHANNEL, 2017-2025 ($MILLION)
TABLE 37. REST OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 38. AZIMO LTD.: COMPANY SNAPSHOT
TABLE 39. AZIMO LTD.: PRODUCT PORTFOLIO
TABLE 40. FLYWIRE CORPORATION: COMPANY SNAPSHOT
TABLE 41. FLYWIRE CORPORATION: PRODUCT PORTFOLIO
TABLE 42. INSTAREM: COMPANY SNAPSHOT
TABLE 43. INSTAREM: PRODUCT PORTFOLIO
TABLE 44. MONEYGRAM INTERNATIONAL, INC: COMPANY SNAPSHOT
TABLE 45. MONEYGRAM INTERNATIONAL, INC: OPERATING SEGMENTS
TABLE 46. MONEYGRAM INTERNATIONAL, INC: PRODUCT PORTFOLIO
TABLE 47. REMITLY, INC: COMPANY SNAPSHOT
TABLE 48. RIPPLE: COMPANY SNAPSHOT
TABLE 49. RIPPLE: PRODUCT PORTFOLIO
TABLE 50. SINGX PTE LTD: COMPANY SNAPSHOT
TABLE 51. SINGX PTE LTD: PRODUCT PORTFOLIO
TABLE 52. TNG FINTECH GROUP INC: COMPANY SNAPSHOT
TABLE 53. TNG FINTECH GROUP INC: PRODUCT PORTFOLIO
TABLE 54. TRANSFERWISE LTD: COMPANY SNAPSHOT
TABLE 55. TRANSFERWISE LTD: PRODUCT PORTFOLIO
TABLE 56. WORLDREMIT LTD: COMPANY SNAPSHOT
TABLE 57. WORLDREMIT LTD: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01. ASIA-PACIFIC DIGITAL REMITTANCE MARKET, 2016-2025
FIGURE 02. ASIA-PACIFIC DIGITAL REMITTANCE MARKET, BY COUNTRY, 2016-2025
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 07. TOP WINNING STRATEGIES, BY YEAR, 2016-2018* 39
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, 2016
FIGURE 16. DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR INWARD DIGITAL REMITTANCE, BY COUNTRY, 2017 & 2025(%)
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR OUTWARD DIGITAL REMITTANCE, BY COUNTRY, 2017 & 2025(%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMMITANCE MARKET FOR BANKS, BY COUNTRY, 2017 & 2025(%) 68
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR MONEY TRANSFER OPERATOR, BY COUNTRY, 2017 & 2025(%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR OTHERS, BY COUNTRY, 2017 & 2025(%)
FIGURE 22. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR BUSINESS, BY COUNTRY, 2017 & 2025(%)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF ASIA-PACIFIC DIGITAL REMITTANCE MARKET FOR PERSONAL, BY COUNTRY, 2017 & 2025(%)
FIGURE 24. CHINA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 25. JAPAN DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 26. INDIA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 27. HONG KONG DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 28. SINGAPORE DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 29. TAIWAN DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 30. INDONESIA DIGITAL REMITTANCE MARKET SIZE BY TOP 10 CORRIDOR
FIGURE 31. MONEYGRAM INTERNATIONAL, INC: REVENUE, 2015-2017 ($MILLION)
FIGURE 32. MONEYGRAM INTERNATIONAL, INC: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 33. MONEYGRAM INTERNATIONAL, INC: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
Similar Reports
Online banking or internet banking is a service provided by retail bank, virtual bank (neo banks) or credit unions. Online banking provides the customers with a secure website through which they can conduct financial transactions. Recent trends show that, customers are keenly adopting on...
- Publish Date: July 31, 2017
- $5370
ATMs have evolved from just cash dispensing machines to multifunctional equipment that provide not only cash withdrawal facilities but offer currency conversions facilities, account information, deposits, transfers, bill payment, cash recycling among other services. The Asia-Pacific region is becoming increasingly characterized by technology-facilitated transactions. ...
- Publish Date: March 1, 2016
- $3390
The Global P2P Industry 2016 Deep Market Research Report is a professional and in-depth study on the current state of the P2P industry. The report provides a basic overview of the industry including definitions and classifications. The P2P market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. ...
- Publish Date: January 15, 2016
- $2800
