Kenya's International Remittance Market Poised for Continued Growth Through 2028: Understanding Consumer Demographics, Regional Remittance Flows, Strategic Imperatives for Stakeholders
Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Kenya International Remittance Market Business and Investment Opportunities - Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics - Q1 2024" report has been added to * ResearchAndMarkets.com's* offering.
Kenya’s international remittance landscape is experiencing substantial growth, with a recorded 5.7% increase in international inbound remittances to US$ 4.53 billion in 2024. The sustained performance forecasts a Compound Annual Growth Rate (CAGR) of 3.4% between 2024 and 2028, with expectations to hit a market size of US$ 5.19 billion by 2028. The outbound remittance market has also seen a positive ascent with a 2.7% increase in 2023 and projected to achieve a CAGR of 1.7% during the forecast period.
The report provides an exhaustive analysis of the remittance market fluctuations, detailing the vital metrics such as transaction value, volume, and the average value per transfer. This study encompasses a wide array of data points, including the segmentation of market share across prominent industry players, and an in-depth review of the channels through which remittances are generated—highlighting trends across digital, mobile, and non-digital platforms.
*Understanding Consumer Demographics*
An intricate breakdown of consumer demographics offers valuable insight into the age groups, income brackets, vocations, and motives behind the remittances sent and received. This data delivers clarity regarding market dynamics and consumer behavior patterns, providing stakeholders with actionable intelligence for strategic decision-making.
*Regional Remittance Flows*
The analysis further digs into the regional nuances of the remittance market, scrutinizing the flow of funds between key states, regions, and countries. This delivers a granular assessment of market opportunities, enabling a deep dive into specific corridors and the respective market shares recorded by varying transfer channels.
*Strategic Imperatives for Stakeholders*
Equipped with detailed market insights, businesses, and investors engaged in Kenya’s remittance sector can harness this information to recognize new opportunities, evaluate potential risks, and formulate well-informed business strategies. The report also provides predictions to aid in anticipating market growth and to streamline future business initiatives.
The meticulous study offers a panoramic view of the remittance market advancements and is instrumental for parties keen on understanding the current market conditions, the competitive landscape, and the space for innovation within Kenya's remittance scene.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 130
Forecast Period 2024 - 2028
Estimated Market Value (USD) in 2024 $4.5 Billion
Forecasted Market Value (USD) by 2028 $5.2 Billion
Compound Annual Growth Rate 3.4%
Regions Covered Kenya
For more information about this report visit https://www.researchandmarkets.com/r/9nps5a
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*Attachment*
· Kenyan International Remittance Market
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