Dublin, October 19, 2021 (GLOBE NEWSWIRE) – The “Global Automated Money Transfer Market (2021-2026) by End User, Geography, Competitive Analysis and Impact of Covid-19 with Ansoff Analysis” the report was added to ResearchAndMarkets.com offer.
The global automatic money transfer market is estimated to be worth USD 25.3 billion in 2021 and is expected to reach USD 37.69 billion by 2026, with a CAGR of 8.3%.
Frequent movement of funds from a checking account to a savings account is often done through the automatic money transfer market. Factors increasing market growth are setting up direct deposit to pay bills is a convenient accounting device as they can be used for periodic equal payments, such as finance or other loan expenses, increase in preference customers for mobile funds transfer applications, and another prevalent factor includes the use of these transfers for overdraft security.
Cyber security has become particularly essential among online repositories to avoid making automated information susceptible to destruction or theft. This can occur in various forms, such as direct access attacks, contains bugs and viruses, backdoor attacks and denial of service attacks. These are considered to be the constraints of the market.
The global automatic money transfer market is further segmented on the basis of end user and geography.
By end user, the market is categorized into banks, NBFCs, and individual customers. Among all, the banking segment is expected to hold the highest market share during the forecast period.
By geography, North America is expected to dominate the market.
- Paytm launches NFC smartphone payments for merchants.
- NPCI will launch a new digital payment product for multifunction phones.
Some of the companies covered in this report are Google Pay, HDFC Bank Ltd., JPMorgan Chase Bank, Money Transfer System, MOVERFOCUS, etc.
Highlights of the report:
- A comprehensive market analysis including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current and projected market size based on value and volume
- Market shares and strategies of the main players
- Recommendations for companies to strengthen their presence in the market
Main topics covered:
1 Description of the report
2 Research methodology
3 Executive summary
3.2 Market size and segmentation
3.3 Market outlook
4 market influencers
4.1.1 Growing digitization in the banking sector
4.1.2 Increase in Bank Loan Approvals and Investment Services
4.1.3 Client preference for mobile applications for money transfer
4.2.1 Increase in the number of security issues and fraud in the sector
4.3.1 Increase in the number of savings accounts
4.3.2 Development of practical and user-friendly platforms
4.4.1 Client Confidence Issues and Acceptance in Low Income Countries
5 Market analysis
5.1 Regulatory scenario
5.2 Porter’s five forces analysis
5.3 Impact of COVID-19
5.4 Ansoff matrix analysis
6 Global Automatic Money Transfer Market, By End User
6.4 Individual customers
7 Global Automatic Money Transfer Market, By Geography
8 Competitive landscape
8.1 Competitive quadrant
8.2 Market share analysis
8.3 Strategic initiatives
9 company profiles
9.1 Artsyl RemittanceAction
9.2 Automatic funds transfer services
9.4 Bank of America Corporation
9.5 Canopus shed
9.6 Federal digital credit union
9.8 Payment by Google
9.9 HDFC Bank Ltd.
9.10 JPMorgan Chase Bank
9.11 Money transfer system
9.13 mPayX – Money transfer software
9.14 NA by JPMorgan Chase & Co.
9.15 National Payments Corporation of India
9.16 A Mobikwik Pvt Ltd system
9.17 Pangea United States, LLC
9.19 Pay telephone
9.21 Skrill Limited
9.22 State Bank of India
9.24 The financial services group PNC, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/e40j1i