DUBLIN, Jan. 29, 2024 /PRNewswire/ — The “Mexico International Remittance Market Business and Investment Opportunities – Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics” report has been added to ResearchAndMarkets.com’s offering.
Recent research into the Mexican international remittance market has yielded insights into significant growth trends, as well as shifts in both inbound and outbound transfers. The comprehensive study encompasses transactional data, including values and volumes, and provides a detailed analysis of consumer demographics related to these financial flows.
The Mexican international inbound remittance market attained an impressive 7.7% expansion in 2022, registering a transaction value of US$ 61.09 billion in 2023. Projections based on current models estimate a continued increase, with a forecast of a Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2028. The market size is expected to burgeon from its current US$ 56.71 billion to a prodigious US$ 83.20 billion by the end of the forecast period.
Concurrently, the outbound remittance sector has also witnessed growth, with a 4.2% rise during 2022, culminating in a transaction value of US$ 1.13 billion in 2023. Additionally, market size is anticipated to grow at a CAGR of 3.4%, expanding from US$ 1.08 billion to approximately US$ 1.33 billion by 2028. This reflects an increase in international outbound financial transactions from Mexico’s economy.
Analyzed within this report are segments critical for understanding the dynamics of the market, including:
- Market Opportunity Trend Analysis for international inbound and outbound remittance transactions, by value and volume, with a close look at the average value per transaction.
- Market Share of Key Players operating within the Mexican landscape.
- Channels of opportunity, divided into Digital, Mobile, and Non-Digital pathways for both inbound and outbound transactions.
- Consumer Profile Analysis detailing demographic factors such as age, income, occupation, and the purposes behind remittances.
- Flow Analysis from country to state/region and vice versa, shining a light on regional transfer preferences and volumes.
The consumer demographics segment provides a nuanced view into who is sending and receiving money, emphasizing the importance of understanding the market on a human level.
Businesses and investors seeking actionable insights will find the projection data particularly beneficial for strategic planning. The report not only lays out current market conditions but also provides forward-looking statements predicting future growth areas. Whether it’s for identifying new areas of expansion or for mitigating potential risks, this latest research publication proves to be a vital resource for those with stakes in the Mexican remittance marketplace.
Moreover, the impact of digital transformation on remittance channels cannot be overstated, as detailed within the analysis. With digital remittance gateways providing faster, more cost-effective solutions, their adoption rate and influence on the overall market landscape serve as focal points of the study.
For more information about this report visit https://www.researchandmarkets.com/r/mkoi2r
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SOURCE Research and Markets
