The Money Transfer Services Global Market Report 2023, provides comprehensive information on the money transfer services market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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Anticipated to exhibit robust growth, the global money transfer services market is poised to ascend from $27.01 billion in 2022 to $31.41 billion in 2023, manifesting a noteworthy compound annual growth rate (CAGR) of 16.3%. The landscape of global economic recovery, initially grappling with the aftermath of the COVID-19 pandemic, has encountered further complexity due to the Russia-Ukraine conflict. This geopolitical turmoil has precipitated widespread economic repercussions, including sanctions on numerous nations, a surge in commodity prices, and disruptions in supply chains. This intricate scenario has given rise to inflationary pressures across a spectrum of goods and services, prompting elevated interest rates that reverberate across global markets. Forecasts indicate that the money transfer services market is poised to burgeon even further, reaching $56.83 billion by 2027, underpinned by a robust CAGR of 16%.
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The money transfer services market is currently witnessing a significant surge in the adoption of product innovation as a key trend. Leading companies in this sector are strategically focusing on the development of groundbreaking products and solutions to fortify their market positions. A noteworthy example is the initiative undertaken by Banque Populaire, a prominent group of cooperative banks based in France. In May 2023, they introduced Swift Go, marking the country's inaugural cross-border money transfer service. This service is distinguished by its ability to address the diverse needs of both corporate and individual customers, ensuring swift and secure transactions within a $10,000 limit. Banque Populaire's strategic decision aligns seamlessly with the evolving demands of Moroccan clients, who seek more efficient and streamlined cross-border transfer services. This innovative approach underscores the industry's commitment to staying ahead of market dynamics and meeting customer expectations.
The money transfer services market is segmented:
1) Money Transfer Services Market By Type: Inward Money Transfer, Outward Money Transfer
2) Money Transfer Services Market By Channel: Banks, Money Transfer Operators, Other Channels
3) Money Transfer Services Market By End User: Personal, Small Businesses, Other End-Users
Asia-Pacific was the largest region in the money transfer services market in 2022.
The table of contents in TBRC’s money transfer services market report includes:
1. Executive Summary
2. Money Transfer Services Market Characteristics
3. Money Transfer Services Market Trends And Strategies
4. Money Transfer Services Market - Macro Economic Scenario
5. Global Money Transfer Services Market Size and Growth
.....
32. Global Money Transfer Services Market Competitive Benchmarking
33. Global Money Transfer Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Money Transfer Services Market
35. Money Transfer Services Market Future Outlook and Potential Analysis
36. Appendix
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COVID-19 Impact Analysis on Money Transfer Platforms Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the money transfer platforms market include Azimo Limited, Global Payments Inc., TransferWise Ltd., ACI Worldwide, Inc., Financial Software & Systems Pvt.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Money Transfer Platforms Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/money-transfer-platforms-market/download-sampleMarket DynamicsThe rising integration of payment platforms in all kinds of business is the primitive market driver for the market growth of money transfer platforms.
Hence, increased demand by consumers all over the globe is expected to fuel the market growth of money transfer platforms.
Also, the increased adoption of smartphones and increasing customer's interest in the paperless transaction is assumed to spur the market growth of money transfer platforms.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The advancement of technology has enabled various financial institutions to provide a high standard of service in all aspect of banking and financial services.
Customers can use either internet banking or mobile banking to fulfill their banking requirements.
Customers now have access to multiple online fund transfer options like asRia Money Transfer, TransferWise, Payoneer, Western Union, WorldRemit, Money mule, Timeline of PayPal, WebMoney, Moneygram, Electronic funds transfer, Interac e-Transfer, Revolution Money, etc.
Visit: Best Transfer Money to Czech Republic
October 22, 2018: This report focuses on the global Digital Money Transfer status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Digital Money Transfer development in United States, Europe and China.In 2017, the global Digital Money Transfer market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.The key players covered in this studyAmdocsEServGlobalHuaweiInfosys EdgeVerveInteracDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-digital-money-transfer-market-size-status-and-forecast-2018-2025/request-sample Mahindra ComvivaMastercardOBOPAYPayPalTelepin SoftwareTransferToVisaMarket segment by Type, the product can be split intoType IType IIComplete Report Available @ https://www.radiantinsights.com/research/global-digital-money-transfer-market-size-status-and-forecast-2018-2025 Market segment by Application, split intoDomestic Money TransferInternational Money TransfeMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Digital Money Transfer status, future forecast, growth opportunity, key market and key players.To present the Digital Money Transfer development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Digital Money Transfer are as follows:History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025For the data information by region, company, type and application, 2017 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant Insights Contact:Michelle ThorasCorporate Sales Specialist, USARadiant Insights, IncPhone: 1-415-349-0054Toll Free: 1-888-202-9519Email: [email protected] Blog URL: http://ictmarketforecasts.wordpress.com
