Worldwide Remittance Industry to 2030 - Technological Innovations in Digital Remittance Industry Presents Opportunities

DUBLIN, March 23, 2022 /PRNewswire/ -- The "Remittance Market by Application, Remittance Channel and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Remittance is referred as money sent from one location to another via electronic payment system, mail, draft, and wire transfer. In addition, it is stated as the transfer of money by foreign migrants in their native countries by using digital transfer network such as easy-t-use mobile application, digital wallets, and others.

Furthermore, it helps various families to increase their standard of living and surge the nation's income as well as boost the overall GDP of the country. Numerous benefits of using digital remittance such as convenience, speed, lower cost, elimination of the need for tedious form-filling processes, agents, and codes and others, have shifted the focus of consumers toward digital transactions for money remittance.

Rise in mobile-based payment channels and cross-border transactions and decrease in remittance transfer time & cost drives the growth of the market. In addition, growth in adoption of banking & financial sectors across the globe fuels the growth of the market. However, rise in number of financial crimes and lack of awareness for digital remittance is expected to impede the market growth. Furthermore, technological advancements in digital remittance industry is expected to provide lucrative opportunities for the market growth.

The global remittance market is segmented on the basis of remittance channel, application, end user, and region. By channel, it is divided into banks, money transfer operator, and others. In terms of application, the market is classified into consumption, savings and investments. By end user, it is divided into business and personal. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the remittance market analysis are Bank of America, Citigroup Inc., JPMorgan Chase & Co., MoneyGram International, Inc., RIA Financial Services Ltd., TransferWise Ltd., UAE Exchange, Wells Fargo, Western Union Holdings Inc. and XOOM. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits

• The study provides an in-depth analysis of the global remittance market forecast along with the current trends and future estimations to explain the imminent investment pockets.
• Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key Forces Shaping Remittance Market
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Rise in cross-border transactions and mobile-based payment channels
3.3.1.2. Reduced remittance cost & transfer time
3.3.1.3. Growth in adoption of banking & financial services
3.3.2. Restraints
3.3.2.1. Rise in number of financial crimes
3.3.2.2. Lack of awareness for digital remittance
3.3.3. Opportunities
3.3.3.1. Technological innovations in digital remittance industry
3.3.3.2. Rise in Internet and Mobile penetration
3.4. COVID-19 impact analysis on remittance market
3.4.1. Impact on remittance market size
3.4.2. Change in consumer trends, preferences, and budget impact due to COVID-19
3.4.3. Framework for solving market challenges faced by remittance solution providers
3.4.4. Economic impact on remittance solution providers
3.4.5. Key player strategies to tackle the negative impact
3.4.6. Opportunity window analysis for remittance solution providers

CHAPTER 4: REMITTANCE MARKET, BY APPLICATION
4.1. Overview
4.2. Consumption
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Saving
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Investment
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country

CHAPTER 5: REMITTANCE MARKET, BY REMITTANCE CHANNEL
5.1. Overview
5.2. Banks
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Money Transfer Operators
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
5.4. Others
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis, by country

CHAPTER 6: REMITTANCE MARKET, BY END USER
6.1. Overview
6.2. Business
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Personal
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country

CHAPTER 7: REMITTANCE MARKET, BY REGION

CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.1.1. Market player positioning, 2020
8.2. Competitive dashboard
8.2.1. Top winning strategies

CHAPTER 9: COMPANY PROFILES: MAJOR PLAYERS
9.1. BANK OF AMERICA
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.1.7. Key strategic moves and developments
9.2. CITIGROUP INC.
9.2.1. Company overview
9.2.2. Key Executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.3. JPMORGAN CHASE & CO.
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.3.7. Key strategic moves and developments
9.4. MONEYGRAM INTERNATIONAL, INC.
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. RIA FINANCIAL SERVICES LTD. (SUBSIDIARY EURONET WORLDWIDE, INC.)
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. TRANSFERWISE LTD.
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Product portfolio
9.7. UAE EXCHANGE
9.7.1. Company overview
9.7.2. Key Executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Key strategic moves and developments
9.8. WELLS FARGO
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Business performance
9.9. WESTERN UNION HOLDINGS, INC.
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Business performance
9.9.7. Key strategic moves and developments
9.10. XOOM (SUBSIDIARY OF PAYPAL INC.)
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Product portfolio
9.10.5. Business performance
9.10.6. Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/ou3vx8

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