Global Remittance Market 2024-2028
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:
By Method
By Type
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.