Global Remittance Market 2024-2028

Description

List of Tables

The remittance market is forecasted to grow by USD 57 bn during 2023-2028, accelerating at a CAGR of 13.54% during the forecast period. The report on the remittance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by technological advancements, reduced remittance cost and transfer time, and enhanced cash flow leading to business growth.

Technavio's remittance market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	10.89%
CAGR	13.54%
Incremental Value	$57 bn

By Method

Non-digital
Digital

By Type

Inward
Outward

By Geographical Landscape

North America
Europe
APAC
Middle East and Africa
South America

This study identifies the government initiatives to promote online payment as one of the prime reasons driving the remittance market growth during the next few years. Also, high adoption of digital cross-border money transfer and rise in mobile-based payment channels will lead to sizable demand in the market.

The report on the remittance market covers the following areas:

Remittance market sizing
Remittance market forecast
Remittance market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading remittance market vendors that include Bank of America Corp., Citigroup Inc., Digital Wallet Co. Ltd., Euronet Worldwide Inc., Flywire Corp., JPMorgan Chase and Co., MoneyGram Payment Systems Inc., Nium Pte. Ltd., OzForex Ltd., PayPal Holdings Inc., Ripple Labs Inc., SingX Pte Ltd., TransferGo Ltd., Wells Fargo and Co., Western Union Holdings Inc., Wise Payments Ltd., WorldRemit Ltd., and ZEPZ. Also, the remittance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR75775

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Method
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
2.2 Market characteristics
- Market characteristics analysis
2.3 Value chain analysis
- Value Chain Analysis

3 Market Sizing

3.1 Market definition
- Offerings of companies included in the market definition
3.2 Market segment analysis
- Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Remittance Market 2018 - 2022
- Historic Market Size - Data Table on Global Remittance Market 2018 - 2022 ($ billion)
4.2 Method segment analysis 2018 - 2022
- Historic Market Size - Method Segment 2018 - 2022 ($ billion)
4.3 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Method

6.1 Market segments
- Chart on Method - Market share 2023-2028 (%)
- Data Table on Method - Market share 2023-2028 (%)
6.2 Comparison by Method
- Chart on Comparison by Method
- Data Table on Comparison by Method
6.3 Non-digital - Market size and forecast 2023-2028
- Chart on Non-digital - Market size and forecast 2023-2028 ($ billion)
- Data Table on Non-digital - Market size and forecast 2023-2028 ($ billion)
- Chart on Non-digital - Year-over-year growth 2023-2028 (%)
- Data Table on Non-digital - Year-over-year growth 2023-2028 (%)
6.4 Digital - Market size and forecast 2023-2028
- Chart on Digital - Market size and forecast 2023-2028 ($ billion)
- Data Table on Digital - Market size and forecast 2023-2028 ($ billion)
- Chart on Digital - Year-over-year growth 2023-2028 (%)
- Data Table on Digital - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Method
- Market opportunity by Method ($ billion)
- Data Table on Market opportunity by Method ($ billion)

7 Market Segmentation by Type

7.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
7.3 Inward - Market size and forecast 2023-2028
- Chart on Inward - Market size and forecast 2023-2028 ($ billion)
- Data Table on Inward - Market size and forecast 2023-2028 ($ billion)
- Chart on Inward - Year-over-year growth 2023-2028 (%)
- Data Table on Inward - Year-over-year growth 2023-2028 (%)
7.4 Outward - Market size and forecast 2023-2028
- Chart on Outward - Market size and forecast 2023-2028 ($ billion)
- Data Table on Outward - Market size and forecast 2023-2028 ($ billion)
- Chart on Outward - Year-over-year growth 2023-2028 (%)
- Data Table on Outward - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 UK - Market size and forecast 2023-2028
- Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
9.10 Saudi Arabia - Market size and forecast 2023-2028
- Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
9.11 United Arab Emirates - Market size and forecast 2023-2028
- Chart on United Arab Emirates - Market size and forecast 2023-2028 ($ billion)
- Data Table on United Arab Emirates - Market size and forecast 2023-2028 ($ billion)
- Chart on United Arab Emirates - Year-over-year growth 2023-2028 (%)
- Data Table on United Arab Emirates - Year-over-year growth 2023-2028 (%)
9.12 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ billion)
- Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Opportunity/Restraints

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
10.4 Market opportunities/restraints

11 Competitive Landscape

11.1 Overview
11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
11.3 Landscape disruption
- Overview on factors of disruption
11.4 Industry risks
- Impact of key risks on business

12 Competitive Analysis

12.1 Companies profiled
- Companies covered
12.2 Market positioning of companies
- Matrix on companies position and classification
12.3 Bank of America Corp.
- Bank of America Corp. - Overview
- Bank of America Corp. - Business segments
- Bank of America Corp. - Key news
- Bank of America Corp. - Key offerings
- Bank of America Corp. - Segment focus
12.4 Citigroup Inc.
- Citigroup Inc. - Overview
- Citigroup Inc. - Business segments
- Citigroup Inc. - Key news
- Citigroup Inc. - Key offerings
- Citigroup Inc. - Segment focus
12.5 Digital Wallet Co. Ltd.
- Digital Wallet Co. Ltd. - Overview
- Digital Wallet Co. Ltd. - Product / Service
- Digital Wallet Co. Ltd. - Key offerings
12.6 Euronet Worldwide Inc.
- Euronet Worldwide Inc. - Overview
- Euronet Worldwide Inc. - Business segments
- Euronet Worldwide Inc. - Key offerings
- Euronet Worldwide Inc. - Segment focus
12.7 JPMorgan Chase and Co.
- JPMorgan Chase and Co. - Overview
- JPMorgan Chase and Co. - Business segments
- JPMorgan Chase and Co. - Key offerings
- JPMorgan Chase and Co. - Segment focus
12.8 MoneyGram International Inc.
- MoneyGram International Inc. - Overview
- MoneyGram International Inc. - Product / Service
- MoneyGram International Inc. - Key offerings
12.9 Nium Pte. Ltd.
- Nium Pte. Ltd. - Overview
- Nium Pte. Ltd. - Product / Service
- Nium Pte. Ltd. - Key offerings
12.10 OzForex Ltd.
- OzForex Ltd. - Overview
- OzForex Ltd. - Business segments
- OzForex Ltd. - Key offerings
- OzForex Ltd. - Segment focus
12.11 PayPal Holdings Inc.
- PayPal Holdings Inc. - Overview
- PayPal Holdings Inc. - Product / Service
- PayPal Holdings Inc. - Key news
- PayPal Holdings Inc. - Key offerings
12.12 TransferGo Ltd.
- TransferGo Ltd. - Overview
- TransferGo Ltd. - Product / Service
- TransferGo Ltd. - Key offerings
12.13 Wells Fargo and Co.
- Wells Fargo and Co. - Overview
- Wells Fargo and Co. - Business segments
- Wells Fargo and Co. - Key offerings
- Wells Fargo and Co. - Segment focus
12.14 Western Union Holdings Inc.
- Western Union Holdings Inc. - Overview
- Western Union Holdings Inc. - Business segments
- Western Union Holdings Inc. - Key offerings
- Western Union Holdings Inc. - Segment focus
12.15 Wise Payments Ltd.
- Wise Payments Ltd. - Overview
- Wise Payments Ltd. - Business segments
- Wise Payments Ltd. - Key offerings
- Wise Payments Ltd. - Segment focus
12.16 WorldRemit Ltd.
- WorldRemit Ltd. - Overview
- WorldRemit Ltd. - Product / Service
- WorldRemit Ltd. - Key offerings
12.17 ZEPZ
- ZEPZ - Overview
- ZEPZ - Product / Service
- ZEPZ - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
13.3 Currency conversion rates for US$
- Currency conversion rates for US$
13.4 Research methodology
- Research methodology
13.5 Data procurement
- Information sources
13.6 Data validation
- Data validation
13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
13.8 Data synthesis
- Data synthesis
13.9 360 degree market analysis
- 360 degree market analysis
13.10 List of abbreviations
- List of abbreviations