International Remittance Market in South Africa Exhibits Steady Growth: Comprehensive Analysis and Opportunity Outlook Revealed in Latest Sector Report

Dublin, Dec. 15, 2023 /PRNewswire/ -- The "South Africa International Remittance Market Business and Investment Opportunities - Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics - Q2 2023" report has been added to ResearchAndMarkets.com's offering.

The South Africa international remittance market continues its upward trajectory.

The inbound remittance market within South Africa has seen a notable growth rate of 3.5% during 2022, reaching a significant transaction value of US$872.9 million in 2023. Projections indicate a steady compound annual growth rate (CAGR) of 2.7% from 2023 to 2028, with the potential to escalate the market value to US$999.5 million.

Similarly, the outbound remittance sector reflected growth of 3.1% over the same period, with 2023 figures soaring to US$ 1.01 billion. Anticipated future expansion is forecasted at a CAGR of 2.7%, potentially boosting the market size to US$ 1.15 billion by the year 2028.

Market Analysis and Consumer Demographic Data

The detailed report dissects the market through a variety of lenses, assisting stakeholders in understanding numerous facets of the remittance ecosystem. Key areas of focus include:

• Market opportunity by transaction value and volume, both inbound and outbound
• Consumer profile analytics, including age, income, and occupation of senders and beneficiaries
• Detailed market shares of key players
• Transaction channel analysis, comprising digital, mobile, and non-digital transfers
• Country-to-state and state-to-country remittance flow dynamics

For professionals seeking to comprehend the competitive landscape, the report offers a broad view, encapsulating data on market share and operational strategy of key market entities.

Report Scope

International Inbound Market Opportunity Trend Analysis in South Africa

• By Transaction Value
• By Transaction Volume
• By Average Value Per Transaction

Market Share of Key Players in South Africa

International Inbound Market Opportunity Trend Analysis by Channel in South Africa

• Digital (transaction value, transaction volume, average value per transaction)
• Mobile (transaction value, transaction volume, average value per transaction)
• Non-Digital (transaction value, transaction volume, average value per transaction)

International Inbound Remittance Analysis of Consumer Profile in South Africa

• Analysis by age group of senders
• Analysis by income of senders
• Analysis by occupation of senders
• Analysis by occupation of beneficiaries
• Analysis by purpose

International Inbound Remittance Flow Analysis (Country to State/Region) in South Africa

• Market opportunity by key sending countries (transaction value, transaction volume, average value per transaction)
• Market share by transfer channel by key state/regions

International Outbound Market Opportunity Trend Analysis in South Africa

• By Transaction Value
• By Transaction Volume
• By Average Value Per Transaction

International Outbound Market Opportunity Trend Analysis by Channel in South Africa

• Digital (transaction value, transaction volume, average value per transaction)
• Mobile (transaction value, transaction volume, average value per transaction)
• Non-Digital (transaction value, transaction volume, average value per transaction)

International Outbound Remittance Analysis of Consumer Profile in South Africa

• Analysis by age group of senders
• Analysis by income of sender
• Analysis by occupation of sender
• Analysis by occupation of beneficiaries
• Analysis by purpose

International Outbound Remittance Flow Analysis (State/Region to Country) in South Africa

• Market opportunity by key sending countries (transaction value, transaction volume, average value per transaction)
• Market share by transfer channel by key state/regions

As the international remittance industry adjusts to global economic shifts, this report's insights into the South African market are more critical than ever for maintaining an edge in this competitive sector.

For more information about this report visit https://www.researchandmarkets.com/r/eyye7d

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