# **The Germany Remittance Industry Has Grown In The Last Five Years Owing To The Rising Digital Platforms And Favorable Government Initiatives: Ken Research**

***A considerable part of remittances, nearly half of all remittances sent from Germany, is sent to countries of the European Union.***

**Germany Remittance Market Positioning:** The Germany Remittance Market is currently at the growth stage owing to the increasing digitalization, increased internet and smartphone penetration as well as government initiatives. Remittance services in Germany are available through banks, money transfer operators (MTOs), and other mobile and digital service providers.

**Corona Impact:** The nationwide development of the remittance market had been delayed by the COVID-19's quick growth. The closure of Germany's borders, which had a dramatic impact on working and temporary skilled migrants, can be partly blamed for the fall. Additionally, vulnerable populations like migrants have been disproportionately affected by the epidemic. However, the industry is starting to show signs of a respectable recovery following the disastrous COVID-19 pandemic outbreaks, as the market's revenue has increased by around % in 2022 compared to 2020.

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Government Initiatives for reducing remittance transfer costs: Improving the regulatory environment, upgrading the financial system's infrastructure, pursuing policies that support innovation and the exploitation of emerging technologies, and enhancing consumer protection and transparency in remittance transfers are all ways to increase the competitiveness of the remittance market. These are some steps taken by Authority to help the market expand in the years to come.

Analysts at Ken Research in their latest publication “Germany Remittance Market Outlook to 2027F - By Flow Type (Inbound and Outbound), by Application (Consumptions, Savings, Investments), and By Channels Used (Banking Channel, MTOs, M-Wallets and Others)” observed that Germany Remittance Market is expected to showcase considerable growth in the coming five years. It is anticipated to grow more quickly in the next years as a result of emerging digital platforms, government efforts, and growing internet and smartphone usage. The Remittance Market in Germany is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.

**Key Segments Covered in the report**

By Flow Type
Inbound
Outbound
By Application
Savings
Investments
Consumptions
By Channels Used
Banking Channel
MTOs
M-Wallets
Others

**Key Target Audience**

BanksKey Target Audience
Money Transfer Operators
Digital Payment Companies
M-Wallet Companies
Bills Payments Companies
Investors & Venture Capital Firms
Government Bodies
Mobile Money Companies

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**Time Period Captured in the Report:**

Historical Period: 2017-2022P
Base Period: 2022P
Forecast Period: 2022P-2027F

**Companies Covered:**

HSBC Bank
Deutsche Bank
Lloyds Bank
Barclays Plc
BNP Paribas
Barclays Plc
Credit Agricole
BBVA Dinero Express
Unicredit Banca

**Key Topics Covered in the Report**

Germany Remittance Market Overview
Germany Remittance Market Segmentation
Germany Domestic Remittance Market Overview
Germany International Remittance Market Overview
Ecosystem of Germany Remittance Market
Market Share of Major Players in Germany Remittance Market
Industry Analysis of Germany Remittance Market
Value Chain of Germany Remittance Market
Key Growth Drivers in Germany Remittance Market
End User Analysis of Germany Remittance Market
Key Challenges of Germany Remittance Market
SWOT Analysis of Germany Remittance Industry
Future Outlook of Germany Remittance Market
Trends and Development of Germany Remittance Market

**For more insights on the market intelligence, refer to the link below:-**

[**Germany Remittance Market**](https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MjU4)

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