Malaysia Remittance Industry Outlook to 2019 - Driven By Increasing International and Domestic Migration
NEW YORK, July 22, 2015 /PRNewswire/ -- EXECUTIVE SUMMARY
The report titled "Malaysia Remittance Industry Outlook to 2019 – Driven By Increasing International and Domestic Migration" provides detailed overview on international and domestic remittance market in Malaysia along with their segments. The report covers various aspects such as market size of Malaysia Remittance and Bill Payment industry and segmentation on the basis of major flow corridors, payment channel, interstate and intra state migration and outflows and inflows of remittance along with the competitive landscape in each segment of MSBs and Banks.
Malaysia remittance or money transfer market has shown immense growth in the recent years owing to the increased international migration with a remarkable CAGR of ~ % through 2009-2014. The increased international migration and robust economic growth are two of the main reasons responsible for the growth in remittance market. Growing presence of multinational corporations in Malaysia has made international migration prominent in the country. Along with international migration, the increasing rate of urbanization within Malaysia has made the number of internal migrants to soar in the recent years. The market for both inward and outward international remittances is expected to increase in the coming years owing to the large number of international migrants moving toward Malaysia in the coming years.
Malaysia remittance industry inflows are anticipated to grow at a CAGR of ~% during 2014-2019 while the outflows are expected to grow at a CAGR of ~%. Malaysia is primarily an outward focused remittance country with the outward international remittance flows leaving the inward international remittance flows far behind in terms of market size. This large migrant population has fuelled the growth of a robust outward international remittance market in Malaysia with a large number of migrants coming from Indonesia, Bangladesh, Myanmar, Nepal and India among other countries.
The bill payment market in Malaysia has been growing in the recent years owing to increased urbanization and the high standards of living of Malaysian citizens. The increased tariffs of gas and electricity have also contributed to the growth in bill payment market in Malaysia. The bill payment market in Malaysia has been growing at a CAGR of ~% throughout 2010-2014. The Bill Payment Industry in Malaysia will increase significantly owing to the increase in the spending patterns and high standards of living of Malaysia citizens which will lead the industry to grow at a CAGR of ~% in the next 5 years i.e. 2014-2019. Mobile payments in Malaysia have started to take off in the recent years as smartphone and internet penetration reach new heights causing the industry to grow at a CAGR of ~% throughout 2010-2014.
KEY TOPICS COVERED IN THE REPORT
- Malaysia Macro Environment and Factors
- International Remittance Market Size by Remittance Flows (inflow and outflow)
- Domestic Remittance Market Size
- Bill Payment Market Size
- Mobile Payment Market Size
- Market Segmentation of International Remittance Market in Malaysia on the basis of Major Flow Corridors (For both inflow and outflows) and by Payment Channel (banks and MSBs)
- Market Segmentation of Bill Payment Industry in Malaysia on the basis of Mode of Payment (Direct and Third Party) and by Purpose of Payment
- Market Segmentation of Mobile Payment Industry in Malaysia on the basis of Payment Component (Recharges, Bill Payment, Credit & Loan Repayment)
- Government Regulations and Policies (Impact of GST on Remittances, Overview of MSB Act, 2011)
- Competitive Landscape of Major Players in International and Domestic Remittance, Bill Payment and Mobile Payment Industry in Malaysia.
- Average Transaction Fees of Remittance Service Providers for Major Flow Corridors
- Mergers and Acquisitions in Remittance, Bill Payment and Mobile Payment Industry in Malaysia.
- Future Outlook of the industry and projections of Remittance, Bill Payment and Mobile Payment Industry and their segments in Malaysia.
Read the full report: http://www.reportlinker.com/p03026031-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article