Remittance Market Statistics - 2021: Market Share, Current Trends, Global Market Size, Future Analysis, and Regional Outlook to 2028 | Citigroup, Bank of America, JPMorgan Chase & Co., MoneyGram International, RIA Financial Services, and TransferWise

The major purpose of remittance is to ensure security of the money during money transfer from one country to another. In addition, many financial institutions across the globe have adopted remittance services to provide customer with transparency, a richer and data-driven ecosystem, and an efficient network of partners. Moreover, increase in cross-border transactions, mobile-based payment channels, and reduced remittance cost & transfer time drive the growth of the market.

Allied Market Research published a new report, titled, "Remittance Market By Type (Inward Remittance and Outward Remittance), Channel (Banks, Money Transfer Operators, and Others), Application (Consumption, Savings, and Investments), and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020-2028".

The market report provides an all-inclusive analysis of the present market aspects, estimations, assessments, revolving scenarios, and dynamic forces of the industry from 2019 to 2028. An extensive study of the aspects that drive and curtail the market growth is also demonstrated. The wide-ranging assessment of the market size and its proper breakdown help determine the dominant market opportunities.

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The major countries in each region are portrayed according to the chunk of revenue they have. The major market players in the industry are outlined, and their plans & strategies are examined thoroughly, that ideate the competitive outlook of the remittance market.

The market report covers regions that take in North America (United States, Canada and Mexico), South America (Brazil, Argentina, and Colombia), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). The report also presents a comprehensive scenario of the market in each jurisdiction.

The frontrunners in the global remittance market are studied in this report. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to prop up their stand in the industry. The key players operating in the global remittance industry include 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.

The market report covers an array of growth factors of the industry along with severe challenges and impeding factors that might deter the growth of the market. This study helps new market entrants and manufacturers concoct proper plans for potential challenges and look for opportunities to build up their market stance.

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The report offers detailed information regarding major end-users and annual forecasts from 2019 to 2028. In addition, it presents revenue forecasts for each year along with sales and sales growth of the market. The forecasts are offered by a thorough study of the market by proficient analysts concerning geographical assessment of the market. These forecasts are beneficial to gain deep insight on the future prospects of the industry.

Key Benefits of the Report:
1. This study gives out an edifying illustration of the global remittance market along with the contemporary trends and future assessments to support the investment takes.
2. The market report, furthermore, presents statistics in regards to key drivers, restraining factors, and opportunities coupled with an all-inclusive analysis of the market revenue.
3. The current market is thoroughly assessed from 2019 to 2028 to accentuate the global remittance market growth scenario. This analytical pattern displays the assertiveness of the market by analyzing several parameters including pressures from alternatives, power of the suppliers, and choice of the buyers operating in the industry.
4. The report doles out an explicit market study based on economic strength and how the global competition will take proper form in the near future.

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Major Offering of the Report:
1. Top impacting factors: An extensive study of the driving factors, imminent opportunities, and challenges.
2. Current drifts & trends: A thorough analysis of the recent market trends and forecasts for the next few years to lay hold of a tactical, premeditated decision.
3. Segmental inquiry: A pervasive analysis of each segment and growth factors along with growth rate estimation.
4. Geographical analysis: Detailed discernments on the market potential across each province to allow the market players to make the most out of the market opportunities.
5. Competitive scenario: An extensive analysis of frontrunners active in the industry.

Questions Answered in the Remittance Market Research Report:
1. Which are the leading players active in the global remittance market?
2. What would be the detailed impact of COVID-19 on the global remittance market size?
3. How the current remittance market trends that would influence the industry in the next few years?
4. What are the driving factors, restraints, and opportunities in the global market?
5. What are the projections for the future that would help in taking further strategic steps?

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Remittance Market Key Segments:
By Type:
1. Inward Remittance
2. Outward Remittance

By Channel:
1. Banks
2. Money Transfer Operator
3. Others

By Application:
1. Consumption
2. Savings
3. Investment

By End User:
1. Business
2. Personal

By Region:
1. South Asia/Southeast Asia
2. MENA
3. Rest of the World

CHAPTERS DISCUSSED IN THE REPORT: [Total 382 Pages]
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Remittance Market, By Type
Chapter 5: Remittance Market, By Remittance Channel
Chapter 6: Remittance Market, By Application
Chapter 7: Remittance Market, By End User
Chapter 8: Remittance Market, By Region
Chapter 9: Company Profiles: Major Players
Chapter 10: Company Profiles: Startup’s

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