#Mobile Remittance Service Market Analysis 2023

[marketinsight1234]

Mobile Remittance Service Market: Forthcoming Trends and Share Analysis by 2030

Global Mobile Remittance Service Market size is expected to grow from USD 22211.01 Million in 2023 to USD 85191.62 Million by 2032, at a CAGR of 16.11% during the forecast period (2024–2032)

You can use a mobile phone to send and receive money electronically with a mobile remittance service. It's an easy and accessible alternative to going in person to a bank or money transfer agency to transfer money. Bill payments and peer-to-peer transactions are made easier with the usage of mobile remittance services, which are available both domestically and internationally. They provide consumers with freedom in managing their finances by meeting the increasing demand for cross-border remittances and facilitating transactions between conventional bank accounts and mobile wallets. The market for conventional bank accounts is also present.

Financial inclusion, cost effectiveness, speed, and convenience are all provided by mobile remittance services. They enable customers to start transactions whenever and wherever they choose by doing away with the necessity for actual trips to banks or remittance centers. They are perfect for urgent financial situations because they offer transfers that happen almost instantly. Financial inclusion for individuals without simple access to traditional banking is further enhanced by the fact that digital transactions frequently have lower fees than traditional methods.

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Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Leading players involved in the Mobile Remittance Service Market include:

Mobetize Corp. (U.S.)

MoneyGram (U.S.)

Remitly (U.S.)

Regalii (U.S.)

Flywire (U.S.)

PayPal. (U.S.)

Ria Financial Services (U.S)

Western Union Holdings, Inc. (U.S)

Currency Cloud (UK)

Azimo (UK)

WorldRemit (UK)

TransferWise (UK) 

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. 

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Segmentation of Mobile Remittance Service Market:

By Type

Banks

Money Transfer Operators

By Application

Migrant Labor Workforce

Low-income Households

Small Businesses

An in-depth study of the Mobile Remittance Service industry for the years 2024–2032 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report's segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers' values, needs, and buying inclinations, are integral parts of any thorough market analysis.

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Key Benefits of Mobile Remittance Service Market Research: 

Research Report covers the Industry drivers, restraints, opportunities and challenges

Competitive landscape & strategies of leading key players

Potential & niche segments and regional analysis exhibiting promising growth covered in the study

Recent industry trends and market developments

Research provides historical, current, and projected market size & share, in terms of value

Market intelligence to enable effective decision making

Growth opportunities and trend analysis

Covid-19 Impact analysis and analysis to Mobile Remittance Service market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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[prasannareddy]

Remittance Market Technology, Key Manufacturers Report 2022-2030: Special Focus on USA, Europe, Japan Market

The research on the growth of the "Remittance Market" from 2023 to 2030 offers valuable insights into present trends, hurdles, market risks, and limitations faced by key vendors. This comprehensive report encompasses geographical segmentation, current demand trends, in-depth growth rate analysis, industry revenue, and a detailed examination of the Compound Annual Growth Rate (CAGR). Additionally, this report on the Remittance market delivers both qualitative and quantitative analyses, including company profiles, investment prospects, strategic development strategies, industry size, and global market share assessments.

Allied Market Research published a report, titled, "Remittance Market By Application (Consumption, Savings, and Investment), Remittance Channel (Banks, Money Transfer Operator, and Others), and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global remittance industry was estimated at $701.93 billion in 2020, and is anticipated to hit $1.23 trillion by 2030, registering a CAGR of 5.7% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

Surge in cross-border transactions & mobile-based payment channels, lowered cost & transfer time, and increase in adoption of banking & financial services fuel the growth of the global remittance market. On the other hand, lack of awareness regarding digital remittance and slowdown in the Asia-Pacific region impede the growth to some extent. However, technological innovations and increase in penetration of smartphones & the internet create new opportunities in the industry.

COVID-19 Scenario:

The outbreak of Covid-19 paralyzed the economy of the majority of countries, especially during the initial phase, thereby impacting the global remittance market negatively. A fall in remittance flows also imposed economic, fiscal, and social burdens across the world. However, the market is projected to recoup soon. The Consumption Segment to Dominate By 2030

Based on application, the consumption segment accounted for nearly three-fifths of the global remittance market share in 2020, and is anticipated to rule the roost by 2030. A huge sum of money is remitted every month by the workers to their home country for food, clothing, and other expenditures. This factor drives the growth of the segment. The investment segment, however, would cite the fastest CAGR of 8.1% throughout the forecast period. This is due to the fact that it helps developed countries regenerate new revenue stream by investing the remitted money in different investment schemes, which boosts the GDP of the country.

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The Banks Segment to Maintain the Dominant Share

Based on remittance channel, the banks segment held nearly half of the global remittance market revenue in 2020, and is expected to lead the trail by 2030. The fact that banks are joining forces to develop cross-border real-time services propels the segment growth. The money transfer operator segment, on the other hand, would manifest the fastest CAGR of 8.1% from 2020 to 2030. This is because an array of digital-only players such as WorldRemit, Xoom, Transfer Wise, and InstaReM enable direct global money transfers sent from and received through mobile wallets held on personal devices.

Asia-Pacific, Followed By LAMEA, Europe, and North America, Garnered the Major Share in 2020

Based on region, Asia-Pacific, followed by LAMEA, Europe, and North America, held the major share in 2020, generating nearly half of the global remittance market. The same region would also grow at the fastest CAGR of 6.4% by 2030. This is attributed to rapidly advancing technologies, evolving customer expectations, and changing regulatory setting in the region.

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Key Players in the Industry

Citigroup Inc. XOOM JPMorgan Chase & Co. RIA Financial Services Ltd. TransferWise Ltd. MoneyGram International Inc. Bank of America UAE Exchange Wells Fargo Western Union Holdings Inc.

Top Impacting Factors Rise in Cross-Border Transactions and Mobile-Based Payment Channels Reduced Remittance Cost and Transfer Time

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Remittance Market Report Highlights

By Application

Consumption Savings Investment

By Remittance Channel

Banks Money Transfer Operator Others

By End User

Business Personal

By Region

North America (U.S., Canada) Europe (France, Germany, UK, Italy, Spain, Rest of Europe) Asia-Pacific (China, Japan, India, Philippines, Pakistan, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa)

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[ddamscore]

Velo Crypto Price Analysis and Future Price Predictions: Assessing VELO's Journey to $1

In this comprehensive article, we will delve into the world of Velo (VELO) cryptocurrency, thoroughly analyzing its current status, examining its price performance over the past months, and presenting insightful predictions for its future trajectory. Through an exploration of the factors influencing VELO's price movements, we will assess the feasibility of VELO reaching the coveted $1 milestone in the coming years.

Overview of  VELO

Velo is a dynamic blockchain project with a vision to establish a "Web3+" ecosystem that seamlessly combines traditional finance infrastructure with cutting-edge Web3 technology. This innovative ecosystem focuses on three core aspects: applications, economics, and mobility. By providing essential tools for businesses, facilitating low fees, and enabling the frictionless movement of funds and assets, Velo aims to bridge the gap between traditional finance and the limitless potential of the Web3. The platform's Web3+ product suite comprises several core platforms, including FCX (a digital asset trading platform), Quantum (a remittance platform), Universe (a trading platform for individual traders), and Orbit (a mobile payment application), all designed to cater to diverse financial services.

Current Price Analysis

As of the most recent data, Velo is currently trading at $0.002914, with a market capitalization of $21.53 million. Over the past 12 months, Velo's price performance has exhibited a mixed pattern. In the short term, it has underperformed, while over a six-month period, it has demonstrated notable outperformance. A detailed technical analysis reveals a prevailing sell signal based on moving averages, with indicators such as the RSI and ADX signaling neutral to oversold sentiment.

Velo Price History and Future Predictions

Examining Velo's price history provides valuable context for predicting its future trajectory. Notably, Velo reached its all-time high price of $1.9 in November 2020, indicating substantial growth potential. However, it is crucial to acknowledge the significant decline from its ATH, underscoring the need for substantial price appreciation to reach higher levels. Let us explore potential price predictions for Velo across various timeframes: Velo Price Prediction 2023 Experts estimate a price range of $0.0017 to $0.004 for Velo in 2023. While this suggests potential growth from the current price level, the achievement of $1 appears unlikely within the near term. Velo Price Prediction 2025 Analysts project a price range of $0.003 to $0.008 for VELO in 2025. This indicates the possibility of continued growth; however, reaching $1 remains a challenging objective within this timeframe. Velo Price Prediction 2030 Looking further ahead, predictions indicate a price range of $0.010 to $0.037 for Velo in 2030. These projections imply a gradual and steady increase over time, although $1 still appears to be a distant target.

Factors Affecting Velo's Future Price

A multitude of factors can significantly impact Velo's future price performance. Understanding these factors is crucial for evaluating the investment potential of VELO. Market Conditions: The overall sentiment and performance of the cryptocurrency market can exert substantial influence on Velo's price movements. Favorable market trends, such as a bullish market, can contribute to heightened price appreciation. Adoption and Partnerships: Velo's success in establishing strategic partnerships and gaining widespread adoption among financial institutions and users will play a pivotal role in determining its long-term price growth potential. Collaborations with key players and expanding the platform's user base will enhance its market position.  Competition: The cryptocurrency industry is highly competitive, and Velo operates within a crowded landscape. Its ability to differentiate itself, innovate, and effectively attract users will significantly impact its long-term price potential. Monitoring and adapting to competitive trends will be crucial for Velo's success.

Conclusion

After conducting a comprehensive analysis of Velo's current state and future price predictions, we can conclude that while Velo (VELO) exhibits potential for growth, reaching the $1 mark in the near term appears challenging. Investors interested in VELO should carefully consider prevailing market conditions, the pace of adoption, and competition within the cryptocurrency industry. This guide is a general guide, and to actually know about these things, you need to research them yourself or consult with a professional financial advisor before making any investment decisions. To Learn more about crypto check our website : Damscore.com

Disclaimer

The information presented in this article should not be considered financial advice. Cryptocurrency investments carry inherent risks, and it is crucial to conduct independent research and consult with a qualified financial advisor before making any investment decisions. The price predictions and analysis provided in this article are based on historical data and market trends. Cryptocurrency prices are highly volatile and subject to rapid changes. It is recommended to stay updated with the latest market information and exercise caution when making investment decisions Read the full article

[ellinapark]

Blockchain in Fintech Market Will Hit Big Revenues In Future | Biggest Opportunity Of 2023

Latest business intelligence report released on Global Blockchain in Fintech Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Blockchain in Fintech market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis are:

AWS [United States]

IBM [United States]

Microsoft [United States ]

Ripple [United States]

Chain [United States]

Earthport [United Kingdom]

Bitfury [United States]

BTL Group [Canada]

Oracle [United States]

Digital Asset Holdings [United States]

Circle [Ireland]

Factom [United States]

AlphaPoint [United Kingdom]

Coinbase [United States]

Abra [United States]

Auxesis Group [India]

BitPay [United States]

BlockCypher [United States]

Applied Blockchain [United Kingdom]

RecordesKeeper [Spain]

Symbiont [United States]

Guardtime [Estonia]

Cambridge Blockchain [United States]

Tradle [United States]

Blockchain Advisory Mauritius Foundation [Mauritius]Block chain in Fintech offers a promising cost effective solution to the financial institutions with regards to mobile payments and crowd funding. The growing adoption of block-chain in financial application is considered to be a revolutionary change as it will challenge the traditional approach of working. Additionally, it will lower the cost of cross borer payments, compliance and security trading. As potential benefit of block-chain technology is yet remains unanswered, it provides great opportunities for existing as well as emerging players.

Key Market Trends: Growing Use of AI for Automation

Increasing Adoption of Mobile Technology to Avail Financial Services

Opportunities: Innovative and Programmable Block-chain Platforms

Growing Use of Block-chain Technology in Payments, Smart Contracts and Digital Identities

Market Growth Drivers: Growing Cryptocurrency Market

Rising Awareness About Potential Benefits of Block-chain in Finance Industries

Reduced Total Cost of Ownership

Challenges: Issues Related with Security, Privacy and Control

Scalability and Latency Problems

The Global Blockchain in Fintech Market segments and Market Data Break Down by Type (Product Type, Blockchain in Fintech), Application (Payments, Clearing, and Settlement, Exchanges and Remittance, Smart Contracts, Identity Management, Compliance Management/Know Your Customer (KYC), Others (Cyber Liability and Content Storage Management)), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), End User (Banking, Non-banking Financial Services, Insurance), Provider (Application and Solution Providers, Middleware Providers, Infrastructure and Protocols Providers)

Presented By

AMA Research & Media LLP

[cryptocoinguides]

Stellar XLM Price Prediction

Stellar Lumens (XLM) Price Prediction 2021, 2025, 2030 till $1 USD What is Stellar Lumens? Stellar is open source scalable blockchain project that connects organization and banks. Stellar initially uses a similar protocol as bitcoin, but the network does not use mining to complete transactions. Stellar relies on the FBA (Federated Byzantine Agreement) algorithm that helps to increase transaction approval time and the number of transactions per second.

Stellar uses a trustworthy node where transactions complete after it approved by all nodes in the network. Current co-founder of Ripple and founder of Mt. Gox Jed McCaleb launched Stellar network after integrating with Joyce Kim. later, Stellar Development Foundation launched with the collaboration of Stripe CEOXLM come with different features like Remittances for faster transaction time to any border quickly with any condition of low cost or high-cost payments, they have mobile branches in which users will get agency banking advantage with retail operation without overhead costs then the user can make mobile money platform interoperable so user can send to anyone and there are few services for the underbanked loans and micro-savings.

Stellar Lumens Price Prediction Month & Year XLM Price Prediction July 2021 $0.5181 August 2021 $0.9617 September 2021 $1.0858 October 2021 $1.1665 November 2021 $1.3340 December 2021 $1.7932 January 2022 $1.9328 February 2022 $2.9472 March 2022 $3.4746 April 2022 $4.0641 May 2022 $3.7849 June 2022 $4.7156 July 2022 $5.0568 August 2022 $5.6463 September 2022 $4.4984 October 2022 $5.3670 November 2022 $6.3598 December 2022 $5.6773 April 2023 $6.0496 August 2023 $6.8251 January 2025 $13.9915 March 2025 $12.7816 May 2025 $13.7123 July 2025 $12.1301 September 2025 $14.0536 October 2025 $14.5189 Decemeber 2025 $15.2635 January 2030 $27.0524 March 2030 $28.6656 May 2030 $31.1475 July 2030 $32.3264 September 2030 $29.8445 December 2030 $33.3501 Stellar Lumens Overview Project name Stellar Lumens Ticker Symbol XLM Total Supply 50,001,803,837 XLM Official website Stellar.org Based on Open source decentralized payment protocol Launched year 2014 All-time high USD Exchange Platform Binance, Coinbase Pro, BKEX, LATOKEN, MXC, BitForex, HitBTC, Bitrue, Huobi Global, OKEx, Upbit, Bitmart, WhiteBIT, Extrates, BtcTurk, P2PB2B, ZB.com, Bithumb, CoinEx, Kraken, Bitmax, VinDAX, DOBI Exchange, CoinHe, omgfin, TOKOK, coinbene.

ZBG, Folgory, BW.

com, Coinsbit, Cointiger. Wallet Lumens Wallet, Ledger, Trust wallet. Stellar ICO Overview Stellar Lumes Price Analysis Stellar Lumens showcasing power-packed performance in mid of May 2020, where other top crypto struggling to get price hiked, as from 11th March to June 2020 XLM Coin price hiked from $0.038 USD to $0.078 USD which is near 39.78% growth in less than 1 week so this report is really great to see from cryptocurrency from 15 highest market cap holder list, as Bitcoin, Ripple, Ethereum are still stable with the same average price since the beginning of May 2020, as right now many coins get price hiked with few percentages then they dropped to its original but opposite to Stellar Lumens currently seeking attention from investor and expected to beat Tether for 8th position if they able to hold same per week growth rate, as we know this one of the oldest and most trusted cryptocurrency in terms of security and privacy and they have huge maximum supply in which still 70+% supply is still available for mining and Trading means in the future if there is growth in number of investors then price shakes will start, which will help to get good market cap value.

2020 is turning out good as well as a worse year for the crypto world, as in 2017 people started knowing about this investing option then at beginning of 2018 till the end of 2018 all coins price on the moon and most of them reached to all-time highest record but following back to back trouble like trading banned in few country, security & privacy in terms of a hacking issue it loses bulk investor at the same time which causes price dropped and then in April month more price dropped seen and in most of the country like India, South Korea which has a huge count of investor trapped in rumors and fake news pointing towards bans, where at one point XLM coin was very close cross $1 USD mark which was incomplete with a very short difference, so following all this we have set below figure on the basis of previous 7 month price report of Stellar Lumens.

Stellar Lumens already closes to $1 USD after having $0.85 USD as the highest price to date which was achieved on the 4th of January 2018, and they able to make an average $0.55 USD price till the end of December 2018 and then there is a huge fluctuation in price and now finally in July they price are again heading to Reach $40 USD price, as looking forward to 2020 people wanted to know what will be the expected figure, as for those who plan for long terms investment of wanted to HOLD XLM this will be the perfect choice because if buy Stellar at price $0.20 to $0.30 and sold in 2020 as per below price prediction of $6 USD then you will get a profit of 2899% with $0.20 USD and 1900% profit for $0.30 USD purchase price which is really huge right now, as we know cryptocurrency already proved their power at ending 2017 and definitely in future they will be getting price boost and people who HODL gets rewarded.

Conclusion Stellar Lumen is still the best payment protocol of the blockchain, recently the bank of Ukraine integrated with Stellar and many projects already joined hands to active cross-border payment. The active team always focusing on improvement in the network, as this year one big upgrade is on the way, where protocol 13 will receive up-gradation. the user who already based on stellar SDK or blockchain will also get an update once it officially rolls out. subscribe to channel affiliate Cambodia thank you!.

Read More: Cryptocurrencies defined in 1 sentence

via Stellar XLM Price Prediction

[sapanas]

Healthcare Electronic Data Interchange (EDI) Market Scenario Highlighting Major Drivers & Trends, 2025, Says MRFR

Healthcare Electronic Data Interchange (EDI) Market expanding at 8.8% CAGR by 2023, according to Global Healthcare EDI Market Analysis Report published by Market Research Future. Global Healthcare Electronic Data Interchange (EDI) Industry Report analyzes Market for Telemedicine By type, components, Deployment, Applications, Region with Forecast to 2023.

Healthcare EDI Market Analysis

The healthcare electronic data interchange (EDI) market is growing continually. Market growth is driven by the rising adoption of EDI for operational intelligence and performance management. Besides, factors such as the augmenting demand for digitization and automation of documents and transactions drive the growth of the market excellently. Moreover, the rising burden to minimize healthcare document processing costs escalates the market growth to furthered height.

According to Market Research Future (MRFR), the global healthcare electronic data interchange (EDI) market is estimated to grow at 8.8% CAGR throughout the anticipated period (2018 – 2023).  In 2017, the market had reached a valuation of USD 2674 MN. Certainly, the rising global economy plays a causal role in the development of the market. Rising government support for healthcare IT developments and the implementation of favorable funding policies propel the growth of the healthcare EDI market.

On the flip side, the high implementation cost of EDI software and data security concerns are major factors predicted to impede the growth of the market. Also, the hesitancy of practitioners to switch conventional methods can hinder market growth over the forecast period. Nevertheless, rising awareness about the benefits associated with EDI software and the increasing adoption of EDI software by pharmaceutical companies would support the market growth throughout the estimated period.

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Global Healthcare EDI Market – Segmentation

The report is segmented into five dynamics;

By Component: Software and Services.

By Delivery Mode: EDI Value Added Network (VAN), Web and Cloud-based EDI, Direct (Point-to-Point) EDI, Mobile EDI, and others.

By Transaction: Payment & Remittance Advance, Claims & Encounters, Eligibility Inquiry & Response, Claim Status & Response, Claim Attachments, Enrollments, Referral Certification & Authorization, and others.

By End User: Healthcare Payers& Providers, Pharmaceutical & Medical Device Industries, and others.

By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.

Healthcare Electronic Data Interchange Market – Regional Analysis

North America dominates the global healthcare electronic data interchange (EDI) market. The largest market share attributes to the rising healthcare expenditure and rising usages of medical devices in various treatments. Besides, factors such as the presence of many notable industry players and advanced healthcare infrastructures in the region drive the growth of the market. Moreover, increasing technological advances in EDI software fosters regional market growth. The North American healthcare EDI market is anticipated to retain its leading position in the global market throughout the review period.

Europe stands second in the global healthcare electronic data interchange (EDI) market. The market is driven by the higher rates of hospitalization, presence of advanced medical devices industry, especially in Germany, and increasing healthcare expenditures. Additionally, rising usages of information technology in healthcare and government funding and favorable policy implementation propel market growth. The European healthcare EDI market is anticipated to create a substantial revenue pocket over the assessment period.

The Asia Pacific healthcare electronic data interchange (EDI) market is brisk. Factors such as the rising spending on information technology and rapid technological advances boost the regional market growth. Moreover, rising awareness about healthcare electronic data interchange software increases the size of the regional market. Also, augmented penetration of smartphones and the demand for energy-efficient devices influence the regional market growth.

Global Healthcare EDI Market – Competitive Analysis

Highly competitive, the healthcare electronic data interchange market appears fragmented with many large & small-scale players, alongside new entrants forming a competitive landscape. Industry players make substantial investments to drive R&D and to meet their expansion plans. To gain a larger competitive share, these players initiate strategic partnerships and collaborations.

They acquire promising companies from emerging regions to expand their global footprints. Managing the cost of raw materials remains a top priority for manufacturers. Coping with these pricing fluctuations of raw materials is expected to continue throughout the forecast period. Companies are seeking new ways to mitigate risks associated with raw materials instability.

Healthcare EDI Market Major Players:

Players leading the global healthcare EDI market include GE Healthcare, Cognizant, McKesson Corporation, Allscripts Healthcare Solutions Inc., Optum, Inc., Siemens Healthineers, The SSI Group, LLC, ZirMed Inc., Schreiner Group, Experian Information Solutions, Inc., Passport Health Communications, Emdeon Inc., and HealthFusion, among others.

Healthcare EDI Industry/ Innovation/Related News:

April 29, 2020 ---- Edifecs Inc. (the US), a leading healthcare technology company, announced a partnership with the Commonwealth of Pennsylvania to Provide EDI module services. Edifecs' EDI module is the first of its kind focused module in compliance with the 2020 MMIS Platform Project Certification. Pennsylvania's Commonwealth and Department of Human Services would implement its purpose-built electronic data interchange (EDI) solution. Edifecs' EDI Module would help the Commonwealth modernize and achieve the Medicaid Management Information Systems (MMIS) help in timely, accurate, complete, outcomes (TACO).

[ratiram]

Development of financial  infrastructure, introduction of supportive government policies, change in business model of various remitting companies & increased marketing expenditure have been the key factors driving growth in South Africa remittance market.

South Africa domestic and international remittance Market is highly competitive and concentrated. It includes both formal and informal payment services providers. The market has declined in terms of value and volume of transactions however it has seen a rise in terms of average transaction size for outbound business. The decline can be supported by the high transaction fee involved in the remittance business which serves as a dissidence for customers.

High Emigration Population: Number of South Africans leaving the country showcased a positive last 5 year CAGR of almost 3% owing to the compelling job opportunities and prospects in the developed countries. An increase in the emigrant population is indicative of a prosperous remittance business. Emigrants from South Africa have majorly migrated to the developed economies including United Kingdom, Australia, United States, New Zealand, Canada, Angola Botswana and other SADC countries. Few emigrants migrate to the SADC corridor since these economies are highly lagging as compared to South Africa.

Majority of migrants into South Africa are from Mozambique, Zimbabwe, Lesotho and other SADC countries. The trend observed in inbound migration is the result of increased economical opportunities in South Africa compared to the SADC region.

Customer Analysis: The outbound population consists of an almost equal gender ratio in 2018. The maximum number of emigrants falls in the age bracket of 25-29 years followed by 30-34 year population in 2018. The age group of 70-79 years accounts for the lowest emigrants showcasing a share of less than 1% of the population.

Declining Costs: South Africa continues to remain one of the costliest countries to remit money from across the world. The average cost to remit money for 2017 was around 18% of transaction amount which are representative of a decline from a peak of 2013. The increased competition in the market with escalating market share of ADLAs has largely affected the fee structure across the country. ADLAs charge minimal fees of not more than 5% of the transaction amount, making them a market leader in terms of pricing.

Increased Digitalization: The South African market is adopting digitalization at a rapid pace in all aspects including the remittance market. The smart phone users in South Africa have increased to almost 40% in 2018 from close to 11% in 2013. This increased penetration of technologically advanced mobile phones showcases the adoption of mobile wallets, e-wallets and other electronic modes of remittance services across South Africa. This has driven the market considerably during 2013-2018.

Government Support Policies: South Africa Government has been liberalizing their policies and regulatory frameworks for remittance service providers including all entities. The documentation, fee structure and business compliance guidelines have been improvised by the regulators leading to a higher remittance business. The flexibility being adopted by the government is serving as an incentive for both the service providers as well as the customers availing the services.

The report titled “South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)” suggests that market will grow at a CAGR of close to 6% in terms of transaction value during the year 2018-2023.

Key Segments Covered in South Africa International Remittance Market:-

By Channels used (Value of Transactions)

Banking channels

ADLAs & MTOs

Retailers

Others

By International Inbound Remittance Flow Corridor (Value of Transactions)

United Kingdom

New Zealand

Australia

Angola

Others

By International Outbound Remittance Flow Corridor (Value of Transactions)

Zimbabwe

Lesotho

Mozambique

Others

By Work Profile (Value of Transactions)

Key Segments Covered in South Africa Domestic Remittance Market

By Channels used (Value of Transactions)

Banking channels

ADLAs & MTOs

Retailers

Others

By Domestic Remittance Flow Corridor (Value of Transactions)

Urban to Rural

Urban to Urban

Rural to Urban

By Work Profile (Value of Transactions)

Key Target Audience

Banks

Money Transfer Operators

ADLAs

M-Wallet Companies

Hawalas

Convenience and Retail Stores

Supermarket Chains

South Africa Reserve Bank

Bills and Payments Companies

Investors & Venture Capital Firms

Time Period Captured in the Report:-

2013-2018 – Historical Period

2019-2023 – Future Forecast

Companies Covered: ABSA Bank Limited, Albaraka Bank Limited, Bidvest Bank Limited, BNP Paribas SA – South Africa Branch, Capitec Bank Limited, China Construction Bank-Johannesburg Branch, Citibank-South Africa, Deutsche Bank AG-Johannesburg Branch, FirstRand Bank Limited, Habib Overseas Bank Limited, HBZ Bank Limited, HSBC Bank PLC–Johannesburg Branch, Investec Bank Limited, JPMorgan Chase Bank-Johannesburg Branch, Mercantile Bank Limited, Nedbank Limited, Sasfin Bank Limited, Société Générale, Standard Chartered Bank–Johannesburg Branch, State Bank of India, The South African Bank of Athens Limited, The Standard Bank of South Africa Limited, First National Bank, Bank of Baroda, Bank of India, Bank of China, Bank of Taiwan, Western Union , Money Gram, Hello Paisa, Mama Money, Mukuru, Exchange4Free, Imali Express (Pty), Ace Currency Exchange (Pty), Forex World (Pty) Limited, Global Foreign Exchange (Pty) Limited, Inter Africa Bureau de Change (Pty) Limited, Interchange RSA (Pty) Limited, Master Currency (Pty) Limited, Sikhona Forex (Pty) Limited, Tourvest Financial Services (Pty) Limited, American Express Foreign Exchange Services, Tower Bureau de Change (Pty) Limited, Travelex Africa Foreign Exchange (Pty) Limited, Southeast Exchange Company (South Africa), Terra Payment Services South Africa (RF) (Pty), WorldRemit South Africa (Pty) Limited, Shoprite, Pep Stores, Pick n Pay, Checkers, Spar, Ackermans and Boxers.

Keywords:-

South Africa Remittance Market

South Africa Remittance Industry

South Africa Remittance

South Africa Remittance Report

Remittance Services Competition

Remittance Income South Africa

Major Players South Africa Remittance Market

SWOT South Africa Remittance

Remittance Industry South Africa

Major Players South Africa Remittance

Mama Money Remittance South Africa

Mukuru Remittance South Africa

Exchange4Free Remittance South Africa

Shoprite Remittance South Africa

PEP Stores Remittance South Africa

To Know More About This Report Follow This Link:-

South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)

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Egypt Remittance Market Outlook to 2023 - By Inbound and Outbound Remittance, By Transfer Mode (Bank Transfer, Through Friends or Relatives, Through Agent or Courier, Carried Money on Their Visits, and Others), By Banking and Non-Banking Transfer, By Bill Payment Type (Mobile Services, Internet Services, Utilities, and Others), By Bill Payment Mode (Cash Payments, Card Payments, and Fund Transfers)

Kuwait Remittance Market By Inbound and Outbound International Remittance, By Mode Of Transfer (Electronic And Cash), By Channel (Bank And Non-Bank), By Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet And Electronic Transfers), By Types Of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH And Broadband Bills And Mobile Recharge Bills) And By Regions – Outlook To 2022

Philippines Money Transfer And Bill Payments Market Outlook To 2023 - By Domestic Remittance Banking And Non Banking (Pawnshops, MTO) Channels, International Remittance Flow Corridors And Channel; Bill Payment Segment

Nigeria Remittance And Bill Payments Market Outlook By Inbound And Outbound International Remittance, By Mode Of Transfer (Cash Or Electronic Transfers), By Channel (Bank And Non-Bank) - Outlook To 2022

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Sales@kenresearch.com

+91-9015378249

[aditi3019]

Healthcare EDI Market Global Key Leaders: ZirMed Inc., GE Healthcare

Market Research Future has published a half-cooked research report on the global healthcare electronic data interchange (EDI) market.

Healthcare Electronic Data Interchange (EDI) Market Analysis

Global HeaHlthcare EDI Market Trends stood at USD 2674 Mn in 2017 and is anticipated to expand at a CAGR of 8.8% over the forecast period of 2018-2023, predicts market Research Future (MRFR) in a thoroughly studied report. 

Healthcare electronic data interchange (EDI) software has been gaining traction among healthcare organizations due to a variety of reasons. Healthcare organizations are burdened with cumbersome tasks such as maintaining patients records, documents relating to health insurance reimbursement, and others. Such enormous volume of data cannot be maintained using papers which necessitate the deployment of EDI software. EDI software allows the exchange of healthcare data in a standardized format across the healthcare value chain. 

The massive rise in the volume of data generated by the healthcare sector is the prime drive behind the growth of the global Healthcare EDI Market.  Moreover, EDI software is being increasingly leveraged for operational intelligence and performance management. Digitalization percolating within the healthcare sector has further spurred the adoption of EDI software among healthcare participants. Augmenting need to curtail healthcare costs and growing concerns regarding data security have also acted in favor of market growth. 

Management of healthcare payment exerts tremendous pressure on healthcare administrators. Any gap in payment methods could lead to a rise in healthcare costs and a delay in the process. EDI software remediates the payment challenges and is being progressively gaining adoption. 

Various regulatory bodies have laid down global as well as national standards for healthcare electronic transactions which encourage adoption among caregivers. Furthermore, the governments in multiple countries are also encouraging the use of EDI software solutions to modernize the existing framework and are providing assistance for the same in the form of funding. Regulatory requirements and continuous pressure for efficiency have driven the Healthcare EDI Market Growth. 

On the other hand, the growth of the Healthcare EDI Market might be hindered by high implementation cost of EDI software and reluctance on the part of healthcare professionals to switch to modern methods. 

Get a FREE Sample with Complete TOC By Considering the COVID-19 impact on Global Market @ https://www.marketresearchfuture.com/sample_request/7338

Healthcare Electronic Data Interchange (EDI) Market Segmentation

Global Healthcare Electronic Data Interchange (EDI) Market Analysis has been segmented based on component, delivery mode, transaction, and end user. 

By component, the global healthcare electronic data interchange market has been segmented into software, and services. 

By delivery mode, the global healthcare electronic data interchange market has been segmented into web and cloud-based EDI, EDI value added network (VAN), direct (Point-to-Point) EDI, and mobile EDI. 

By transaction, the global healthcare electronic data interchange market has been segmented into claim status and response, eligibility inquiry and response, enrollments, claims & encounters and payment & remittance advance, claim attachments, referral certification, and authorization. 

By end user, the global healthcare electronic data interchange market has been segmented into healthcare payers, healthcare providers, pharmaceutical & medical device industries, and others. The healthcare payers segment is expected to dominate the global market due to the high adoption rate among physicians and clinicians. However, the pharmaceutical & medical device industries segment is expected to be the fastest growing segment. 

Healthcare EDI Market Regional Analysis

By region, the global healthcare electronic data interchange market has been segmented into North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). 

North America is the forefront of the Healthcare EDI Industry. High healthcare expenditure, fast uptake of advanced technologies, and the existence of market players in the region support the growth of the global healthcare electronic data exchange market. 

Europe accounts for the second largest share of the global market driven by government funding and favorable policy implementation. 

APAC is poised to exhibit rapid growth over the forecast period. High expenditure on healthcare IT and government support towards the modernization of the healthcare sector are acting in favor of market growth. Increasing healthcare spending and growing awareness are other factors supporting market growth. 

The MEA market is expected to account for the least share of the global market but is anticipated to showcase slow but steady growth over the forecast period. Growing awareness regarding healthcare electronic data interchange (EDI) software is expected to propel the growth of the market over the forecast period.

Obtain Premium Research Report Details, Considering the impact of COVID-19 @ https://www.marketresearchfuture.com/reports/healthcare-electronic-data-interchange-market-7338

Healthcare EDI Market Competitive Landscape

ZirMed Inc., GE Healthcare, Allscripts Healthcare Solutions Inc., HealthFusion, Optum, Inc., Siemens Healthineers, Emdeon Inc., McKesson Corporation, Schreiner Group, Experian Information Solutions, Inc., Cognizant, Passport Health Communications, and The SSI Group, LLC are the notable players in the global healthcare electronic data interchange market. 

[sandlerresearch]

South Korea Cards & Payments: Opportunities and Risks to 2023 published on

http://www.sandlerresearch.org/south-korea-cards-payments-opportunities-and-risks-to-2023.html

South Korea Cards & Payments: Opportunities and Risks to 2023

South Korea Cards & Payments: Opportunities and Risks to 2023

Summary

GlobalData’s ‘South Korea Cards & Payments: Opportunities and Risks to 2023’ report provides detailed analysis of market trends in South Korea’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, direct debits, cards, and cheques during the review-period (2015-19e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

GlobalData’s ‘South Korea Cards & Payments: Opportunities and Risks to 2023’ report provides top-level market analysis, information and insights into South Korea’s cards and payments industry, including – – Current and forecast values for each market in South Korea’s cards and payments industry, including debit and credit cards. – Detailed insights into payment instruments including cash, credit transfers, direct debits, cheques, and cards. It also, includes an overview of the country’s key alternative payment instruments. – E-commerce market analysis. – Analysis of various market drivers and regulations governing South Korea’s cards and payments industry. – Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

– In November 2018, the Financial Services Commission (FSC) announced new reforms reducing the merchant service fees on credit cards, effective from February 2019, in a move to lower the credit card acceptance costs among smaller merchants. The fee was lowered by 0.65 percentage points (pp) to 1.4% per transaction for merchants with an annual revenue of between KRW500m ($0.4m) and KRW1.0bn ($0.9m). For merchants with a revenue of between KRW1.0bn ($0.9m) and KRW3.0bn ($2.7m), it was decreased by 0.61pp to 1.6%. The reduced costs will further encourage credit card acceptance among smaller merchants. – In order to lower the acceptance costs of electronic payments for small merchants, the South Korean government introduced a new QR-based payment service called Zero Pay in December 2018. The solution was introduced in the pilot phase and the official launch is expected during the second half of 2019. The service enables merchants to accept payments with no transaction costs, as the money gets directly transferred from the customers’ bank accounts to the merchants’ bank accounts. To make a payment, a customer needs to scan the Zero Pay QR code displayed at the merchant store using payment applications or mobile banking apps. Seeing Zero Pay as a threat to their card business, card issuers including Shinhan Card, BC Card, and Lotte Card formed an alliance in January 2019 to launch their own common QR code service called QRpay. The network system offers reduced acceptance costs for merchants and enables card holders to make QR-based mobile payments and earn reward points and discounts at the same time. – Digital-only banks have also made inroads into South Korea during the review period. K Bank, the country’s first digital-only bank, was launched in April 2017. The bank offers a diverse product portfolio including current and deposit accounts, debit cards, insurance, loans, and remittances. Another digital bank called KakaoBank was introduced in the July of the same year, offering various products and services including bank accounts, debit cards, loans, and remittances. To further encourage investments in digital-only banks, the FSC approved a Special Act on the Establishment and Operation of Online-only Banks, which was effective from January 17, 2019. The new act enables technology companies to own up to a 34% stake in digital-only banks. This aims to boost investment and innovation led by ICT companies in the banking sector.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to South Korea’s cards and payments industry and each market within it. – Understand the key market trends and growth opportunities in South Korea’s cards and payments industry. – Assess the competitive dynamics in South Korea’s cards and payments industry. – Gain insights into marketing strategies used for various card types in South Korea. – Gain insights into key regulations governing South Korea’s cards and payments industry.

[differentchildmusic-blog]

Blockchain Market is expected to grow at a CAGR of 79.6% during the forecast period 2018-2023.

In the Report “Blockchain Market: By Product & Services (Exchanging, Trading and Investment, Financial Services); By Provider Type (Solution and Application, Infrastructure and Protocol Provider); By Industry Vertical (BFSI, Government & Public Sector, Healthcare) & Geography – Forecast (2018 - 2023)” published by IndustryARC, the blockchain market willexperience high adoption rate in different baking system of both developed and developing countries.Central bank, commercial banks, stock exchange are expected drive the blockchain market growth for a long period of time. Asia-Pacific leading with higher adoption rate of share in the BlockChain Market: The North Americanregion accounts for a major share of 41.89% of theoverall blockchain market. The U.S. and Canadian government have already implemented the blockchain technology in many banking and financial institutions. The Asia-Pacific region is estimated to grow at a CAGR of 54.65% during the forecast period.  Asia-Pacific Blockchain market was valued $569.6 million in2017, and is expected to reach $1614.6 million by 2023.In APAC, Blockchain technology has a great potential totransform the payments prospect by offering economy cost and instant transfers of capital over mobile and the internet. A digital currency is flexible andinnovative for emerging markets where payments and banking infrastructure is less developed. Selected Product Services&Industrial Vertical Analysis done in the BlockChain Market Report: The Blockchain and distributed infrastructure technology are exhilarating developments that show a better functionality for financial service industry. The financial institutions are among the first to leverage the decentralized Blockchain platform to implement in the future. In product and services segment, financial service isthe leading segment expected to grow at a CAGR of 52.29% during the forecast period from 2018 to 2023.The financial service market is expected to reach $2,207.1 million by 2023. The Exchange, Trade and Investment segment is the second leading service. The market for exchange, trade and investment segment is estimated to reach $1,176.9 millionby 2023, and is expected to grow at a CAGR of 50.50% from 2018 to 2023.In the exchange, tradeand investment segment, the blockchain technology is taking the role of intermediaries, as a result the Blockchain market ismaking the process lot easier and cost efficient. Banking, financial services and insuranceis the leading segment and will continue its dominance for the period of 2018-2023. Banking, financial services and insurance segment were valued at $240.3 million in 2017, and is expected to reach $2968.2 million by 2023, growing at a CAGR of 52.01%, from 2018-2023. Financial institution sare among the first leverage to implement the decentralized Blockchain platform to offer better services in the future. In order to make stand-alone investments, a number of banks have joined hands to make a Blockchain consortium, focusing on identifying and prototyping new hypothesis and developing Block and chain technology standards, expected to drive the growth of this industry vertical further. Excerpts on Market Growth Factors: • Microsoft Corporation Blockchain developers in Consensus 2017 summit metin New York and also announced about additional Blockchain protocol support in Azure which consists of complex Blockchain and distributed ledger network deployments including Hyper Ledger Fabric, R3 Corda, Quorum, Chain Core and BlockApps. This blockchain will provide opportunities in different segments in the market. • People are now collaborating across blockchain platforms and looking to develop viable ideas based on the feedback of itsintended users, availing the concept of a minimum viable product. Blockchain technology is complexas these concepts are unfamiliar to most of the users. So, different public and private bodies are creating awareness among the people to switch current bank institutions to blockchain technology, hence it will drive the rate of adoption of the market. • In advanced blockchain technology,all the transactions are carried out from peer-to-peer connection that can cut the costs and speed up the processes. In the current scenario, eliminating early use of third party intermediary is propelling the growth of the market across the globe. • The key aspects of technology aretechnical infrastructure, data security, and the scalability of the technology. Implementation of a decentralized energy transaction will require technical infrastructure.Thus,the development of technical infrastructure is a major challenge and will createhuge opportunities for the Blockchain market growth. To access / purchase the full report browse the link below: https://industryarc.com/Report/17949/blockchain-market.html Key players of the BlockChain Market: Companies operating in the Blockchain market are International Business Machine (U.S), Microsoft Corporation (U.S), Deloitte (Rubix), Ripple (U.S), and among others. Other companies challenging their position in the Blockchain market include BTL group (Canada), Digital Ltd (Australia), and Earthport (U.K) that are giving tough competition to the top players with their innovative service and solution offering. The companies are mostly investing in blockchain development sand research due to the rapidly changing technology market that is an additional threat to the new entrances. Some of the major services and solution from leading companies are Azure Blockchain Service, STARTO Blockchain LTS, Chain Core Developer Edition by Microsoft. Bluemix by IBM, Corporate Disbursements and Retail Remittances by Ripple, Airpocket by Digitalx limited etc.Most of the companies went into a partnership, collaboration and expansion to increase the productivity of the services. BlockChain Market report is segmented as below: A. BlockChain Market – By Product And Services 1. Exchanging, Trading and Investment 2. Financial Services 3. Infrastructure 4. Payments & E-Wallet 5. Digital Identity & Reputation 6. Others B. Blockchain Market – By Provider Type 1. Solution and Application Provider 2. Infrastructure and Protocol Provider C. Blockchain Market – By Industry Verticals 1. Banking Financial Services & Insurance (BFSI) 2. Information and Communication 3. Government & Public Sector 4. Healthcare 5. Logistics, Supply Chain & Transportation 6. E-Commerce and Retail 7. Others D. Blockchain Market – By Type 1. Public 2. Private E. BlockChain Market by Geography (covers 10+ countries)   F. BlockChain Market Entropy G. Manufacturer  Citied / Interviewed 1. Chain, Inc. 2. Global Arena Holding, Inc. 3. Digitalx Limited 4. Plutus Financial Inc. 5. Bitfury Group Limited 6. Coinbase 7. Circle Internet Financial Limited 8. Digital Asset Holdings. LLC 9. 21.Co 10. Company 10 11. Company 11 12. Company 12 13. Company 13 14. Company 14 15. Company 15+ Related Report: A. Fintech Market https://industryarc.com/Report/18381/fintech-market.html B. Bitcoin Payments Ecosystem Market https://industryarc.com/Report/46/global-bitcoin-payments-ecosystem-market-analysis.html What can you expect from the report? The BlockChain Market Report is Prepared with the Main Agenda to Cover the following 20 points: 1. Market Size by Product Categories & Application     11. Demand Analysis (Revenue & Volume) 2. Market trends & Relevant Market Data                       12. Country level Analysis 3. Manufacturer Landscape                                               13. Competitor Analysis 4. Distributor Landscape                                                   14. Market Shares Analysis 5. Pricing Analysis                                                              15. Value Chain Analysis 6. Top 10 End user Analysis                                             16. Supply Chain Analysis 7. Product Benchmarking                                               17. Strategic Analysis 8. Product Developments                                              18. Current & Future Market Landscape Analysis 9. Mergers & Acquisition Analysis                               19. Opportunity Analysis 10. Patent Analysis                                                            20. Revenue and Volume Analysis Frequently Asked Questions: Q. Does IndustryARC provide customized reports and charge additionally for limited customization? Response:Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization: 1. Increase the level of data in application or end user industry. 2. Increase the number of countries in geography chapter. 3. Find out market shares for other smaller companies or companies which are of interest to you. 4. Company profiles can be requested based on your interests. 5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services. Media Contact: Mr. Venkat Reddy Sales Manager Email 1: sales@industryarc.com Or Email 2: venkat@industryarc.com Contact Sales: +1-614-588-8538 (Ext-101) About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. We look forward to support the client to be able to better address their customer needs, stay ahead in the market, become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

[venkateshiarc-blog]

Asia-Pacific leading with higher adoption rate of share in the BlockChain Market

In the Report “Blockchain Market: By Product & Services (Exchanging, Trading and Investment, Financial Services); By Provider Type (Solution and Application, Infrastructure and Protocol Provider); By Industry Vertical (BFSI, Government & Public Sector, Healthcare) & Geography – Forecast (2018 - 2023)” published by IndustryARC, the blockchain market will experience high adoption rate in different baking system of both developed and developing countries. Central bank, commercial banks, stock exchange are expected drive the blockchain market growth for a long period of time.

Asia-Pacific leading with higher adoption rate of share in the BlockChain Market

The North American region accounts for a major share of 41.89% of the overall Blockchain Market. The U.S. and Canadian government have already implemented the blockchain technology in many banking and financial institutions. The Asia-Pacific region is estimated to grow at a CAGR of 54.65% during the forecast period. Asia-Pacific Blockchain market was valued $569.6 million in 2017, and is expected to reach $1614.6 million by 2023. In APAC, Blockchain technology has a great potential to transform the payments prospect by offering economy cost and instant transfers of capital over mobile and the internet. A digital currency is flexible and innovative for emerging markets where payments and banking infrastructure is less developed.

Selected Product Services & Industrial Vertical Analysis done in the full Report:

The Blockchain and distributed infrastructure technology are exhilarating developments that show a better functionality for financial service industry. The financial institutions are among the first to leverage the decentralized Blockchain platform to implement in the future. In product and services segment, financial service is the leading segment expected to grow at a CAGR of 52.29% during the forecast period from 2018 to 2023. The financial service market is expected to reach $2,207.1 million by 2023. The Exchange, Trade and Investment segment is the second leading service. The market for exchange, trade and investment segment is estimated to reach $1,176.9 million by 2023, and is expected to grow at a CAGR of 50.50% from 2018 to 2023. In the exchange, trade and investment segment, the blockchain technology is taking the role of intermediaries, as a result the Blockchain market is making the process lot easier and cost efficient.

Banking, financial services and insurance is the leading segment and will continue its dominance for the period of 2018-2023. Banking, financial services and insurance segment were valued at $240.3 million in 2017, and is expected to reach $2968.2 million by 2023, growing at a CAGR of 52.01%, from 2018-2023. Financial institutions are among the first leverage to implement the decentralized Blockchain platform to offer better services in the future. In order to make stand-alone investments, a number of banks have joined hands to make a Blockchain consortium, focusing on identifying and prototyping new hypothesis and developing Block and chain technology standards, expected to drive the growth of this industry vertical further.

To access / purchase the full report browse the link below

https://industryarc.com/Report/17949/blockchain-market.html

Excerpts on Market Growth Factors

Microsoft Corporation Blockchain developers in Consensus 2017 summit met in New York and also announced about additional Blockchain protocol support in Azure which consists of complex Blockchain and distributed ledger network deployments including Hyper Ledger Fabric, R3 Corda, Quorum, Chain Core and BlockApps. This blockchain will provide opportunities in different segments in the market. People are now collaborating across blockchain platforms and looking to develop viable ideas based on the feedback of its intended users, availing the concept of a minimum viable product. Blockchain technology is complex as these concepts are unfamiliar to most of the users. So, different public and private bodies are creating awareness among the people to switch current bank institutions to blockchain technology, hence it will drive the rate of adoption of the market. In advanced blockchain technology, all the transactions are carried out from peer-to-peer connection that can cut the costs and speed up the processes. In the current scenario, eliminating early use of third party intermediary is propelling the growth of the market across the globe. The key aspects of technology are technical infrastructure, data security, and the scalability of the technology. Implementation of a decentralized energy transaction will require technical infrastructure. Thus, the development of technical infrastructure is a major challenge and will create huge opportunities for the Blockchain market growth.

Key players of the BlockChain Market

Companies operating in the Blockchain market are International Business Machine (U.S), Microsoft Corporation (U.S), Deloitte (Rubix), Ripple (U.S), and among others. Other companies challenging their position in the Blockchain market include BTL group (Canada), Digital Ltd (Australia), and Earthport (U.K) that are giving tough competition to the top players with their innovative service and solution offering. The companies are mostly investing in blockchain developments and research due to the rapidly changing technology market that is an additional threat to the new entrances. Some of the major services and solution from leading companies are Azure Blockchain Service, STARTO Blockchain LTS, Chain Core Developer Edition by Microsoft. Bluemix by IBM, Corporate Disbursements and Retail Remittances by Ripple, Airpocket by Digitalx limited etc. Most of the companies went into a partnership, collaboration and expansion to increase the productivity of the services.

BlockChain Market report is segmented as below:

A. BlockChain Market – By Product And Services

1. Exchanging, Trading and Investment 2. Financial Services 3. Infrastructure 4. Payments & E-Wallet 5. Digital Identity & Reputation 6. Others

B. Blockchain Market – By Provider Type

1. Solution and Application Provider 2. Infrastructure and Protocol Provider

C. Blockchain Market – By Industry Verticals

1. Banking Financial Services & Insurance (BFSI) 2. Information and Communication 3. Government & Public Sector 4. Healthcare 5. Logistics, Supply Chain & Transportation 6. E-Commerce and Retail 7. Others

D. Blockchain Market – By Type

1. Public 2. Private

E. BlockChain Market by Geography (covers 10+ countries) F. BlockChain Market Entropy G. Manufacturer Citied / Interviewed

1. Chain, Inc. 2. Global Arena Holding, Inc. 3. Digitalx Limited 4. Plutus Financial Inc. 5. Bitfury Group Limited 6. Coinbase 7. Circle Internet Financial Limited 8. Digital Asset Holdings. LLC 9. 21.Co 10. Company 10 11. Company 11 12. Company 12 13. Company 13 14. Company 14 15. Company 15+ What can you expect from the report?

The BlockChain Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume) 2. Market trends & Relevant Market Data 12. Country level Analysis 3. Manufacturer Landscape 13. Competitor Analysis 4. Distributor Landscape 14. Market Shares Analysis 5. Pricing Analysis 15. Value Chain Analysis 6. Top 10 End user Analysis 16. Supply Chain Analysis 7. Product Benchmarking 17. Strategic Analysis 8. Product Developments 18. Current & Future Market Landscape Analysis 9. Mergers & Acquisition Analysis 19. Opportunity Analysis 10. Patent Analysis 20. Revenue and Volume Analysis

Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Media Contact: Mr. Venkat Reddy Sales Manager Email 1: sales@industryarc.com Or Email 2: venkat@industryarc.com Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

[sapanas]

Healthcare EDI Market Overview, Key Players Analysis, Emerging Opportunities, Comprehensive Research Study, Leading Growth Drivers, Segments, Industry Sales

Healthcare EDI Market 2020 Global Industry Analysis To 2023, is latest research report on Global Airway Management Industry Size, Share, Trends, Growth, And Regional Forecast.

Healthcare Electronic Data Interchange Market Scope

The global healthcare electronic data interchange market 2020 logged 8.8% CAGR rise during the forecast period 2018–2023, as per the study conducted by Market Research Future. The profit of the Healthcare Electronic Data Interchange Market is observed in the part where a lift in revenue occurred after the year 2017 when the market gained worth USD 2674 million in revenue.

Healthcare Electronic Data Interchange Market: Overview

Healthcare electronic data interchange (EDI) is generally defined as a structured method to transmit healthcare data between computer and data management systems.

Over the year, electronic data interchange has witnessed a sharp rise in their use, which directs towards assisting in keeping costs of healthcare facilities at an affordable level, improving the quality of healthcare delivery, supporting the healthcare process, and making the services accurate, fast, reliable, and secure. The electronic data interchange further has gained a lot of traction due to its assistance in minimizing various kinds of time-consuming processes and streamlines the claim management processes.

Read more news on: https://www.medgadget.com/2020/07/healthcare-electronic-data-interchange-edi-global-market-to-perceive-a-momentous-growth-by-2023-asserts-mrfr.html

To support the market for healthcare electronic data interchange and its growth, the market achieved a lot of prominences. In the case of point, in 2010, the ObamaCare Act (the Affordable Care Act) was passed in the U.S., mandating the use of enrolled or dis-enrolled transactions between the payers and providers in the U.S. Also, the implementation of favorable policy such as Health Insurance Portability & Accountability Act (HIPAA). This was to provide data privacy and security provisions to protect medical information.

Many recent government initiatives of developed, as well as emerging countries worldwide, are supporting healthcare that results in wide adopting EDI systems are the prevalent drivers of the healthcare EDI market. The management, processing, and transfer of the healthcare data, including as medication, patient credentials, diagnostic data, and emergency service records are kept private with the help of electronic data interchange, which has made it demand to the highest level in the emerging healthcare centers. However, concerning digitalization, EDI has helped to manage a considerable amount of data in a systematic, efficient, and accessible manner.

Top Market Drivers & Key Challenges

Global Healthcare EDI Market Trends is presumed to gain traction over the years leading to the advent of big data analytics, the initiatives and incentive programs by different organizations to promote healthcare IT, and favorable policy implementation. The implementation of these has eventually taken the market to earn more valuation in the forecast period. On the other side, EDI healthcare transactions are getting traction by the elimination of all paper trails and digitization of transactions, which is resulting in lower handling costs of processing healthcare documents. Therefore, based on the Workgroup for Electronic Data Interchange (WEDI) estimations, healthcare players can now easily create significant savings of USD 1 per claim for health plans, USD 1.49 for physicians, USD 0.86 for hospitals, and USD 0.83 for others by implementing EDI.

At the same time, a surge in the number of end-users such as providers, payers, pharmaceutical & medical device industries are equally anticipated to fuel the demand of the EDI services or solutions. The EDI services or solutions are enjoying massive demand as healthcare payers are highly making use of EDI for the evaluation of insurance claims before their payment settlement, prevention & detection of fraudulent claims. This advantage is helping the market to expand its worth in the foreseeable years.

Further key findings from the study suggest that the snowballing number of end-users are probable to force the demand for the global healthcare electronic data interchange market over the assessment period. Massive influx of investments is also coming from giant pharmaceutical industries and medical device manufacturers who are adopting electronic data interchange services or solutions into their process due to growing competitiveness, pricing pressure, and lower profit margins. Given this advantage, the market from here is also anticipated to assist in the growth in the coming years

On the contrary, the factor of high implementation cost of EDI software, hesitancy to switch from conventional methods, and data security might hinder the global healthcare electronic data interchange market growth over the forecast period.

Healthcare Electronic Data Interchange Market Segmentation

The global healthcare electronic data interchange market has been analyzed based on segmental analysis, which includes component, delivery mode, transaction, and end-user.

The component segment of the market includes software and services.

The delivery mode segment of the market includes direct (Point-to-Point) EDI, EDI value-added network (VAN), cloud-based EDI, and mobile EDI.

The transaction segment of the market includes claim attachments, eligibility inquiry and response, claims & encounters and payment & remittance advance, referral certification and authorization claim status and response, enrollments.

The end-user segment of the market includes pharmaceutical & medical device industries, healthcare providers, healthcare payers, and others. Wherein, the healthcare payers segment has the possibility to occupy the largest market share in support of increasing adoption of EDI for financial management by physicians and clinicians. Even the pharmaceutical & medical device industries are likely to expand at the highest CAGR with the growing demand for insurance plans.

Healthcare Electronic Data Interchange Market Regional Framework

The global healthcare electronic data interchange market has been further studied among the critical regions of the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

As per the study conducted, the region of the Americas has a promising future in terms of leading the global healthcare electronic data interchange (EDI) market. The reason behind its leadership is due to the rising healthcare expenditure, active participation of market players, and technological advancements in EDI software. In the case of point, back in 2016, PLEXIS Healthcare Systems publicized the development of its EDI services with the formal launch of Ignite EDI. The Ignite EDI hub is powered by four smart, foundational building blocks, i.e., the EDI gateway, the Atlas engine, portal technologies, and EDI exploration services.

The market of EDI in the region of Europe can also become the second most expanding market in the global healthcare electronic data interchange (EDI) market. Such an expansion of the market growth in this region is credited to the government funding and favorable policy implementation.

The healthcare electronic data interchange market in Asia-Pacific, most of the key players, are making high investments, especially from the countries such as China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Due to this reason, the Asia-Pacific region can become the fastest-growing region. Escalating spending on information technology in the Asia-Pacific region has also given the market a substantial push resulting in a great expansion that will continue to the forecast period as well. Claiming to the data suggested by the India Brand Equity Foundation (IBEF), expenditure in information technology in India might grow by over 9 percent to reach USD 87.1 billion in the coming years.

In the last comes the market in the Middle East & Africa, which is also likely to occupy the least share of the market in support of raising awareness about healthcare electronic data interchange (EDI) software.

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Healthcare Electronic Data Interchange Market Key Players

GE Healthcare, Cognizant, Passport Health Communications, McKesson Corporation, Siemens Healthineers, Allscripts Healthcare Solutions Inc., Optum, Inc., Schreiner Group, The SSI Group, LLC, Experian Information Solutions, Inc., Emdeon Inc., ZirMed Inc., HealthFusion are the top major market players known for their high investments making the market more profitable.

[sapanas]

Healthcare EDI Market 2020 Global Trends, Share, Industry Size, Growth, Opportunities

A Broad Analysis of the "Worldwide Healthcare Electronic Data Interchange (EDI) Market “methodology of the leading organizations in the exactness of Import/Export Utilization, Industry Activity Figures, Cost, Value, Revenue and Gross Edges.

Healthcare Electronic Data Interchange (EDI) Market Analysis

Global Healthcare EDI Market Trends stood at USD 2674 Mn in 2017 and is anticipated to expand at a CAGR of 8.8% over the forecast period of 2018-2023, predicts market Research Future (MRFR) in a thoroughly studied report.

Healthcare electronic data interchange (EDI) software has been gaining traction among healthcare organizations due to a variety of reasons. Healthcare organizations are burdened with cumbersome tasks such as maintaining patients records, documents relating to health insurance reimbursement, and others. Such enormous volume of data cannot be maintained using papers which necessitate the deployment of EDI software. EDI software allows the exchange of healthcare data in a standardized format across the healthcare value chain.

Read more news on: https://www.medgadget.com/2020/02/healthcare-edi-market-is-projected-to-expand-at-a-robust-cagr-of-8-8-by-2025-global-industry-analysis-share-key-findings-top-company-profiles-regional-statistics.html

The massive rise in the volume of data generated by the healthcare sector is the prime drive behind the growth of the global Healthcare EDI Market.  Moreover, EDI software is being increasingly leveraged for operational intelligence and performance management. Digitalization percolating within the healthcare sector has further spurred the adoption of EDI software among healthcare participants. Augmenting need to curtail healthcare costs and growing concerns regarding data security have also acted in favor of market growth.

Management of healthcare payment exerts tremendous pressure on healthcare administrators. Any gap in payment methods could lead to a rise in healthcare costs and a delay in the process. EDI software remediates the payment challenges and is being progressively gaining adoption.

Various regulatory bodies have laid down global as well as national standards for healthcare electronic transactions which encourage adoption among caregivers. Furthermore, the governments in multiple countries are also encouraging the use of EDI software solutions to modernize the existing framework and are providing assistance for the same in the form of funding. Regulatory requirements and continuous pressure for efficiency have driven the Healthcare EDI Market Growth.

On the other hand, the growth of the Healthcare EDI Market might be hindered by high implementation cost of EDI software and reluctance on the part of healthcare professionals to switch to modern methods.

Healthcare Electronic Data Interchange (EDI) Market Segmentation

Global Healthcare Electronic Data Interchange (EDI) Market Analysis has been segmented based on component, delivery mode, transaction, and end user.

By component, the global healthcare electronic data interchange market has been segmented into software, and services.

By delivery mode, the global healthcare electronic data interchange market has been segmented into web and cloud-based EDI, EDI value added network (VAN), direct (Point-to-Point) EDI, and mobile EDI.

By transaction, the global healthcare electronic data interchange market has been segmented into claim status and response, eligibility inquiry and response, enrollments, claims & encounters and payment & remittance advance, claim attachments, referral certification, and authorization.

By end user, the global healthcare electronic data interchange market has been segmented into healthcare payers, healthcare providers, pharmaceutical & medical device industries, and others. The healthcare payers segment is expected to dominate the global market due to the high adoption rate among physicians and clinicians. However, the pharmaceutical & medical device industries segment is expected to be the fastest growing segment.

Healthcare EDI Market Regional Analysis

By region, the global healthcare electronic data interchange market has been segmented into North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

North America is the forefront of the Healthcare EDI Industry. High healthcare expenditure, fast uptake of advanced technologies, and the existence of market players in the region support the growth of the global healthcare electronic data exchange market.

Europe accounts for the second largest share of the global market driven by government funding and favorable policy implementation.

APAC is poised to exhibit rapid growth over the forecast period. High expenditure on healthcare IT and government support towards the modernization of the healthcare sector are acting in favor of market growth. Increasing healthcare spending and growing awareness are other factors supporting market growth.

The MEA market is expected to account for the least share of the global market but is anticipated to showcase slow but steady growth over the forecast period. Growing awareness regarding healthcare electronic data interchange (EDI) software is expected to propel the growth of the market over the forecast period.

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Healthcare EDI Market Competitive Landscape

ZirMed Inc., GE Healthcare, Allscripts Healthcare Solutions Inc., HealthFusion, Optum, Inc., Siemens Healthineers, Emdeon Inc., McKesson Corporation, Schreiner Group, Experian Information Solutions, Inc., Cognizant, Passport Health Communications, and The SSI Group, LLC are the notable players in the global healthcare electronic data interchange market.

[sapanas]

Healthcare Electronic Data Interchange Market Review, Future Growth, In-Depth Analysis, Share, Key Findings And Company Profiles

Market Research Future has declared the expansion of the "Worldwide Healthcare Electronic Data Interchange Market Research Report which gives Market Size, Shares and Forecasts till 2023.

Healthcare Electronic Data Interchange Market Scope

The global healthcare electronic data interchange market 2020 logged 8.8% CAGR rise during the forecast period 2018–2023, as per the study conducted by Market Research Future. The profit of the Healthcare Electronic Data Interchange Market is observed in the part where a lift in revenue occurred after the year 2017 when the market gained worth USD 2674 million in revenue.

Healthcare Electronic Data Interchange Market: Overview

Healthcare electronic data interchange (EDI) is generally defined as a structured method to transmit healthcare data between computer and data management systems.

Over the year, electronic data interchange has witnessed a sharp rise in their use, which directs towards assisting in keeping costs of healthcare facilities at an affordable level, improving the quality of healthcare delivery, supporting the healthcare process, and making the services accurate, fast, reliable, and secure. The electronic data interchange further has gained a lot of traction due to its assistance in minimizing various kinds of time-consuming processes and streamlines the claim management processes.

Read more news on: https://www.medgadget.com/2020/07/healthcare-electronic-data-interchange-edi-global-market-to-perceive-a-momentous-growth-by-2023-asserts-mrfr.html

To support the market for healthcare electronic data interchange and its growth, the market achieved a lot of prominences. In the case of point, in 2010, the ObamaCare Act (the Affordable Care Act) was passed in the U.S., mandating the use of enrolled or dis-enrolled transactions between the payers and providers in the U.S. Also, the implementation of favorable policy such as Health Insurance Portability & Accountability Act (HIPAA). This was to provide data privacy and security provisions to protect medical information.

Many recent government initiatives of developed, as well as emerging countries worldwide, are supporting healthcare that results in wide adopting EDI systems are the prevalent drivers of the healthcare EDI market. The management, processing, and transfer of the healthcare data, including as medication, patient credentials, diagnostic data, and emergency service records are kept private with the help of electronic data interchange, which has made it demand to the highest level in the emerging healthcare centers. However, concerning digitalization, EDI has helped to manage a considerable amount of data in a systematic, efficient, and accessible manner.

Top Market Drivers & Key Challenges

The global market of healthcare electronic data interchange is presumed to gain traction over the years leading to the advent of big data analytics, the initiatives and incentive programs by different organizations to promote healthcare IT, and favorable policy implementation. The implementation of these has eventually taken the market to earn more valuation in the forecast period. On the other side, EDI healthcare transactions are getting traction by the elimination of all paper trails and digitization of transactions, which is resulting in lower handling costs of processing healthcare documents. Therefore, based on the Workgroup for Electronic Data Interchange (WEDI) estimations, healthcare players can now easily create significant savings of USD 1 per claim for health plans, USD 1.49 for physicians, USD 0.86 for hospitals, and USD 0.83 for others by implementing EDI.

At the same time, a surge in the number of end-users such as providers, payers, pharmaceutical & medical device industries are equally anticipated to fuel the demand of the EDI services or solutions. The EDI services or solutions are enjoying massive demand as healthcare payers are highly making use of EDI for the evaluation of insurance claims before their payment settlement, prevention & detection of fraudulent claims. This advantage is helping the market to expand its worth in the foreseeable years.

Further key findings from the study suggest that the snowballing number of end-users are probable to force the demand for the global healthcare electronic data interchange market over the assessment period. Massive influx of investments is also coming from giant pharmaceutical industries and medical device manufacturers who are adopting electronic data interchange services or solutions into their process due to growing competitiveness, pricing pressure, and lower profit margins. Given this advantage, the market from here is also anticipated to assist in the growth in the coming years

On the contrary, the factor of high implementation cost of EDI software, hesitancy to switch from conventional methods, and data security might hinder the global healthcare electronic data interchange (EDI) market trends over the forecast period.

Healthcare Electronic Data Interchange Market Segmentation

The global healthcare electronic data interchange market has been analyzed based on segmental analysis, which includes component, delivery mode, transaction, and end-user.

The component segment of the market includes software and services.

The delivery mode segment of the market includes direct (Point-to-Point) EDI, EDI value-added network (VAN), cloud-based EDI, and mobile EDI.

The transaction segment of the market includes claim attachments, eligibility inquiry and response, claims & encounters and payment & remittance advance, referral certification and authorization claim status and response, enrollments.

The end-user segment of the market includes pharmaceutical & medical device industries, healthcare providers, healthcare payers, and others. Wherein, the healthcare payers segment has the possibility to occupy the largest market share in support of increasing adoption of EDI for financial management by physicians and clinicians. Even the pharmaceutical & medical device industries are likely to expand at the highest CAGR with the growing demand for insurance plans.

Healthcare Electronic Data Interchange Market Regional Framework

The global healthcare electronic data interchange market has been further studied among the critical regions of the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

As per the study conducted, the region of the Americas has a promising future in terms of leading the global healthcare electronic data interchange (EDI) market. The reason behind its leadership is due to the rising healthcare expenditure, active participation of market players, and technological advancements in EDI software. In the case of point, back in 2016, PLEXIS Healthcare Systems publicized the development of its EDI services with the formal launch of Ignite EDI. The Ignite EDI hub is powered by four smart, foundational building blocks, i.e., the EDI gateway, the Atlas engine, portal technologies, and EDI exploration services.

The market of EDI in the region of Europe can also become the second most expanding market in the global healthcare electronic data interchange (EDI) market. Such an expansion of the market growth in this region is credited to the government funding and favorable policy implementation.

The healthcare electronic data interchange market in Asia-Pacific, most of the key players, are making high investments, especially from the countries such as China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Due to this reason, the Asia-Pacific region can become the fastest-growing region. Escalating spending on information technology in the Asia-Pacific region has also given the market a substantial push resulting in a great expansion that will continue to the forecast period as well. Claiming to the data suggested by the India Brand Equity Foundation (IBEF), expenditure in information technology in India might grow by over 9 percent to reach USD 87.1 billion in the coming years.

In the last comes the market in the Middle East & Africa, which is also likely to occupy the least share of the market in support of raising awareness about healthcare electronic data interchange (EDI) software.

Obtain Premium Research Report Details, Considering the impact of COVID-19 @ https://www.marketresearchfuture.com/reports/healthcare-electronic-data-interchange-market-7338

Healthcare Electronic Data Interchange Market Key Players

GE Healthcare, Cognizant, Passport Health Communications, McKesson Corporation, Siemens Healthineers, Allscripts Healthcare Solutions Inc., Optum, Inc., Schreiner Group, The SSI Group, LLC, Experian Information Solutions, Inc., Emdeon Inc., ZirMed Inc., HealthFusion are the top major market players known for their high investments making the market more profitable.

[ratiram]

The report titled “South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)” provides a comprehensive analysis of South Africa’s Remittance Market including market evolution, overview, genesis, market size and market segmentation. Extensive focus has been placed in quantifying the transaction value and volume over the period, 2013-2023. The report covers aspects such as market segmentation (by channels used, by corridors and by income level) and an extensive snapshot on the bill payment market in South Africa. The report has covered the international and domestic space exclusively focusing on over the year’s computation & interpretation of change in volume, value and average ticket size of transactions in the country. Income earned & change in commission charged has been scrutinized well followed by explicit analyst explanations. Competitive landscape of major players including ABSA Bank, Capitec Bank, Bidvest Bank, Standard Bank, Western Union, MoneyGram, Hello Paisa, Mama Money, Mukuru, Shoprite, SPAR, PEP Stores and Pick n Pay have been covered including company overview, major business strategies, USP, distribution network, remittance services offered, financials and various other parameters. The report also covers future industry analysis (by value, volume and average transaction size), future market segmentation, SWOT analysis, growth opportunities, upcoming trends & analyst recommendations.

The report is useful for existing remittance companies, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Market Overview (Current and Future): South Africa domestic and international remittance market are highly concentrated and in the growth stage. The market includes both formal and informal payment service providers including banks, money transfer operators, ADLAs, retailers and mobile wallets. Prominent business strategies adopted by major players to position themselves in the market include forming an extensive network & improved reach, new services launched & service innovation and better pricing & handy/transparent operations offered. The market has been fuelled by increased migration, rising government support for new competitors, declining fee charges and increased awareness towards digitalized remittance services.

South Africa International Remittance Market

Market Size: South Africa international remittance market recorded a CAGR of close to -1% in terms of average transaction size and close to -2% in terms of volume & value of transaction during 2013-2018. The market showcased a slow & negative growth owing to low purchasing power & high cost associated with remitting money in both inbound & outbound space. Outbound remittance has captured close to half of the market size by value in 2018 declining consistently since 2013.

By Channel: International remittance market was led by banks and MTOs & ADLAs showcasing a robust CAGR close to 3% and 8% respectively during 2013-2018. ADLAs penetrated the market in 2015 and have been rising ever since.  Retailers experienced a CAGR close to -1% in terms of value while the other players including post offices and hawalas experienced a double digit negative CAGR during 2013-2018 losing their share to other more organized players.

By Corridors: Inbound remittance flow corridors are dominated by United Kingdom followed by New Zealand, Australia and Angola respectively. Other countries namely, Canada, United States and Botswana witnessed exhibiting small share close to 15%. Owing to its proximity and availability of numerous job opportunities, United Kingdom has been the market leader magnetized by majority of emigrants. Outbound flow corridors, on the other hand, are dominated by Zimbabwe followed by Lesotho and Mozambique respectively. The outbound corridors consist of the SADC countries bordering South Africa wherein foreigners tend to move to a more established country with more stable Economy.

Competition Stage and Positioning: The international market is concentrated with majority of the market being captured by MTOs & ADLAs in 2018. There are 4 major banks namely ABSA Bank, Capitec Bank, Standard Bank and Bidvest Bank which have been active in the space. 2 major MTOs include Western Union and MoneyGram while major 4 ADLAs include Hello Paisa, Mama Money, Mukuru and Exchange4Free. Major 4 retailers include Shoprite, PEP Stores, Pick n Pay and SPAR. Major competing parameters include fees charged, time taken for the transaction, services offered, reach of the service providers, trust value attached, technological advancements, promotional offers and transparency in costs. The market has become highly competitive in terms of the fee charged after the penetration of the ADLAs offering low fees to the customer’s thereby increasing competition.

Future Projections: The market is expected to showcase a CAGR close to 6% and -4% by value and volume of transactions during 2018-2023. In terms of average transaction size the market is expected to register a CAGR close to 3% during the same.

South Africa Domestic Remittance Market

Market Size: South Africa domestic remittance market recorded a CAGR of close to 3% in terms of average transaction size and close to 6% & 3% in terms of transaction value and volume during 2013-2018 respectively. The market showcased a positive growth with the entry of ADLAs & with the rise in government initiatives to push the market forward. Players witnessed rising profits owing to increase in the commission charged year-on-year averaging a CAGR of close to 15% during the review period. This thus, accelerated the income earned by the players at a CAGR of more than 20% during the review period.  

By Channel: Domestic remittance market was led by banks with highest market share showcasing a CAGR close to 1% during 2013-2018. Retailers followed by Mobile wallet companies acquired the second and third highest share in the base year. MTOs witnessed strong growth during 2013-2018 by value of transactions. Other players including post offices and hawalas experienced a decline in popularity with the coming up of other organized gateways.

By Corridors: Highest amount of money has been remitted between urban to rural in 2018. This has been followed by Urban to urban channel with Rural to Urban having a minor share.

Competition Stage and Positioning: The domestic market is highly concentrated with majority share being captured by Capitec Bank, First National Bank, ABSA Bank, Bidvest and Mukuru in 2018 in terms of value of transactions.  

The market is expected to showcase a CAGR close to 12% and -7% by value and volume of transactions during 2018-2023.

Key Segments Covered in South Africa International Remittance Market

By Channels used (Value of Transactions)

Banking channels,

ADLAs & MTOs

Retailers

Others

By International Inbound Remittance Flow Corridor (Value of Transactions)

United Kingdom

New Zealand

Australia

Angola

Others

By International Outbound Remittance Flow Corridor (Value of Transactions)

Zimbabwe

Lesotho

Mozambique:

Others

By Work Profile (Value of Transactions)

Key Segments Covered in South Africa Domestic Remittance Market

By Channels used (Value of Transactions)

Banking channels,

ADLAs & MTOs

Retailers

Others

By Domestic Remittance Flow Corridor (Value of Transactions)

Urban to Rural

Urban to Urban

Rural to Urban

By Work Profile (Value of Transactions)

Key Target Audience

Banks

Money Transfer Operators

ADLAs

M-Wallet Companies

Hawalas

Convenience and Retail Stores

Supermarket Chains

South Africa Reserve Bank

Bills and Payments Companies

Investors & Venture Capital Firms

Time Period Captured in the Report:

2013-2018 – Historical Period

2019-2023 – Future Forecast

Companies Covered: ABSA Bank Limited, Albaraka Bank Limited, Bidvest Bank Limited, BNP Paribas SA – South Africa Branch, Capitec Bank Limited, China Construction Bank-Johannesburg Branch, Citibank-South Africa, Deutsche Bank AG-Johannesburg Branch, FirstRand Bank Limited, Habib Overseas Bank Limited, HBZ Bank Limited, HSBC Bank PLC–Johannesburg Branch, Investec Bank Limited, JPMorgan Chase Bank-Johannesburg Branch, Mercantile Bank Limited, Nedbank Limited, Sasfin Bank Limited, Société Générale, Standard Chartered Bank–Johannesburg Branch, State Bank of India, The South African Bank of Athens Limited, The Standard Bank of South Africa Limited, First National Bank, Bank of Baroda, Bank of India, Bank of China, Bank of Taiwan, Western Union , Money Gram, Hello Paisa, Mama Money, Mukuru, Exchange4Free, Imali Express (Pty), Ace Currency Exchange (Pty), Forex World (Pty) Limited, Global Foreign Exchange (Pty) Limited, Inter Africa Bureau de Change (Pty) Limited, Interchange RSA (Pty) Limited, Master Currency (Pty) Limited, Sikhona Forex (Pty) Limited, Tourvest Financial Services (Pty) Limited, American Express Foreign Exchange Services, Tower Bureau de Change (Pty) Limited, Travelex Africa Foreign Exchange (Pty) Limited, Southeast Exchange Company (South Africa), Terra Payment Services South Africa (RF) (Pty), WorldRemit South Africa (Pty) Limited, Shoprite, Pep Stores, Pick n Pay, Checkers, Spar, Ackermans and Boxers.

To Know More About this report follow this link:-

South Africa Domestic and International Remittance Market Outlook to 2023 - By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)

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