Money Remittance Services Market to See Huge Growth by 2027 | MoneyGram, TransferWise, Remitly, UAE Exchange

The latest study released on the Global Money Remittance Services Market by AMA Research evaluates market size, trend, and forecast to 2027. The Money Remittance Services market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include:
Western Union Holdings, Inc. (United States), MoneyGram (United States), Bank of America (United States), Wells Fargo & Company (United States), TransferWise (United Kingdom), UAE Exchange (UAE), Ria Money Transfer (Euronet Worldwide) (United States), JPMorgan Chase & Co. (United States), Xoom (PayPal) (United States), Remitly, Inc. (United States)

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Definition:
A remittance is a money or a sum of money sent by someone working abroad to his or her family back home. It plays a large role in the economies of many countries as it contributes to the economic growth and to the livelihoods of those countries. Digital remittances have emerged with the advent of FinTech, leading to the rise of comparison platforms or aggregators. According to World Bank, in 2019, remittances were a total of USD 573 billion, of which USD 422 billion went to developing countries that involved 250 million migrant workers. Also, the top remittance recipients in 2018 were India with USD 79 billion, followed by China (USD 67 billion) and Mexico (USD 36 billion). Rapid developments in the industry and digitalization make individuals and even small-to-mid-sized companies enjoy faster, cheaper, and value-added foreign money transfer services.

Market Trend:
• Blockchain-Based Remittances for Fast Transfer Time and Relatively Low Transaction Costs

Market Drivers:
• The surge in International Migrant Population and Safe, Fast & Reliable Services
• Increase in Adoption of Banking & Financial Services
• Growing Digitalization and Use of Internet and Mobile Phones

Market Opportunities:
• Significant Increase in Reach of the Internet, Online and Mobile Phone
• Partnership with Multiple Wallets to Scale-up The Business across the Globe

The Global Money Remittance Services Market segments and Market Data Break Down are illuminated below:
by Type (Inward Remittance, Outward Remittance), Application (Consumption, Saving & Investments, Others (Workers Remittance)), Channel (Banks, Money Transfer Operators, Others (FinTechs)), End User (Corporate/Businesses, Personal)

Global Money Remittance Services market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report
• -To carefully analyze and forecast the size of the Money Remittance Services market by value and volume.
• -To estimate the market shares of major segments of the Money Remittance Services
• -To showcase the development of the Money Remittance Services market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Money Remittance Services market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Money Remittance Services
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Money Remittance Services market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

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Major highlights from Table of Contents:
Money Remittance Services Market Study Coverage:
• It includes major manufacturers, emerging player's growth story, and major business segments of Money Remittance Services market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Money Remittance Services Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Money Remittance Services Market Production by Region Money Remittance Services Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
• Key Points Covered in Money Remittance Services Market Report:
• Money Remittance Services Overview, Definition and Classification Market drivers and barriers
• Money Remittance Services Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Money Remittance Services Market
• Money Remittance Services Capacity, Production, Revenue (Value) by Region (2021-2027)
• Money Remittance Services Supply (Production), Consumption, Export, Import by Region (2021-2027)
• Money Remittance Services Production, Revenue (Value), Price Trend by Type {Payment Gateway, Merchant Account, Subscription Management,}
• Money Remittance Services Manufacturers Profiles/Analysis Money Remittance Services Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered
• How feasible is Money Remittance Services market for long-term investment?
• What are influencing factors driving the demand for Money Remittance Services near future?
• What is the impact analysis of various factors in the Global Money Remittance Services market growth?
• What are the recent trends in the regional market and how successful they are?

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Advance Market Analytics is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.
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