Remittance Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2025

Report Code: ITR 84865 Report Format: PDF + Excel Database

Remittances Market overview:

International money transfer is commonly referred as 'remittances’. As per the World Bank, global remittances reached an unprecedented value of $689 billion in 2018, an upward drift from $633 billion recorded in 2017. Some factors responsible for the growth in global remittances are: increasing migrating population to developed countries, pressure from the United Nations to lower transfer fees, bourgeoning FinTech and mobile payments technology, and increasing numbers of non-bank remittance vendors such as MoneyGram and Western Union. Resultantly, the global remittance market size was estimated as $1.74 billion in 2018, with growing refugee population and rampant urbanization, the market is progressing at a CAGR of 19.56%, during the forecast period 2019-2025.

Remittances Market Outlook:

In 2018, North America was reckoned to be the leading region with an estimated market share of 33.81% of the global market. Increasing number of immigrants settling in the U.S. for several purposes such as education and employment are some pivotal factors supporting regional dominance. According to the Migration and Development Brief by the World Bank Group, in April 2018, the number of migrants globally was estimated to be 266 million, with the U.S. alone accounted around 43 million immigrants. Similarly, according to the findings by the Pew Research Center, remittance outflow from the U.S. was recorded to be $148.4 billion in 2017, with inflows calculated to be $6.6 billion for the same year. The U.S. with its affluent economy and industrial sector is a lucrative international center for enterprises to expand towards. Therefore, there is a recurring demand for workforce, inviting employees from all across the globe creating intense remittance market demand.

Although, personal remittance has a major share among the end-user verticals, business remittance is figured to be the fastest growing segment progressing with a CAGR of 33.81% through to 2025. Globalization has enabled enterprises to develop their fronts and expand internationally, resulting in an upsurge of across border investments, especially in developing countries with untapped opportunities. For instance, developing economy of India is the leading remittance recipient globally with a value of $79 billion (+10% from 2017) in 2018.

 

Remittances Market Growth Drivers and Trends:

· Support from the World Bank in a form of mobilizing funds on migration, to support migrants with an objective of eradicating poverty is a major factor disrupting the global remittance market size. Moreover, migration-related Sustainable Developments Goals such as reducing transaction fee from 7.1% in 2018 to 3% by financial institutions will enable migrants for efficient transfers, augmenting the market share. Also, with declining fee, money transfer operators (MTO) are offering novel services such as virtual bank accounts and prepaid debit cards to carve a niche for themselves, hence increasing traffic in the market to leverage such services.

·         · Substantial progressions and rampant developments in the global mobile payments and Fin Tech market are being profitably capitalized by the remittance market vendors. With the advent of mobile payment services, a nuance of transparency is added, as transaction can be initiated by user itself through a smartphone. This benefits the user with utmost privacy and security, which is a major factor attracting remittance senders towards utilization of these modern services.

· As the United Nations is portraying severe stance on diminishing transaction fee, instant remittance is a major trend disrupting the market with competitive charges of 0.5% of the transaction amount on limited amounts, and transparency in opaque market of international money transfers. InstaRem and Peer Transfer are some global vendors providing instant remittance services. Tracing escalating number of students migrating to different countries for education, such economic services on limited amounts are capable of dominating major shares in the market.

Remittance Market Companies:

Some players with substantial market share in the remittance market are WorldRemit Ltd., InstaReM, Ria Financial Outward Remittance, Azimo Ltd., TransferWise Ltd., WorldRemit Ltd., Banco Bradesco Sa, Euronet Worldwide, Inc., Societe Generale, Xoom Corporation and The Kroger Co., and SingX Pte Ltd.

Mergers and acquisitions are predominant strategies adopted by the market players. For instance, Xoom was acquired by PayPal in 2015 for $890m that turned out to be an example of successful exit for investors in the global remittance market.

Remittance Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Remittance Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth, while also detailing the key challenges and possible threats. The key areas of focus include the various types of developments in global Remittance Market, and their specific advantages to the market.

1. Remittance Market - Overview
        1.1 Definitions and Scope
2. Remittance Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Remittance Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Remittance Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Remittance Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Remittance Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Remittance Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Remittance Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Bank Money Transfer Service
            8.3.2 Money Transfer App
9. Remittance Market - By End User (Market Size -$Million / $Billion)
        9.1 Personal Remittance
        9.2 Business Remittance
        9.3 Public Service
10. Remittance - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Remittance- By Geography (Market Size -$Million / $Billion)
        11.1 Remittance Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Remittance- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Remittance- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Remittance - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Remittance - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Remittance Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Remittance Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Remittance Market - Key Company List by Country Premium
15. Remittance Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Absa
        15.3 Banco Bradesco Sa
        15.4 Bank
        15.5 Euronet Worldwide, Inc
        15.6 Moneygram International Inc
        15.7 Scotiabank
        15.8 Societe Generale
        15.9 The Kroger Co
        15.10 Uba
        15.11 Western Union Holdings, Inc
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Remittance Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Remittance Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Remittance Market Size 2018
2 Canada Remittance Market Share 2018
3 Brazil Remittance Market Outlook 2019 - 2023
4 Mexico Remittance Market Research 2018
5 Germany Remittance Market Trends 2019 - 2023 
6 France Remittance Market Growth 2019 - 2023 
7 UK Remittance Market Demand 2019 - 2023 
8 Italy Remittance Market Segmentation 2018
9 Russia Remittance Market Analysis 2019 - 2023
10 China Remittance Market Revenue 2019 - 2023
11 Japan Remittance Market Volume 2019 - 2023
12 South Korea Remittance Market Potential 2019 - 2023
13 India Remittance Market Leaders 2018
14 Saudi Arabia Remittance Market Forecast 2019 - 2023 
15 Kuwait Remittance Market Value 2018

List of Figures

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