Industry Research by Koncept Analytics
Global Remittance Market: Industry Analysis & Outlook ----------------------------------------(2015-2020) February 2017
Global Remittance Market: Industry Analysis & Outlook (2015-2020)
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Executive Summary The remittance industry contributes to the economic growth of the countries participating in the practice as well as to the livelihood of the individuals involved. The remittance system is comprised of the Remittance Service Providers (RSP), Remittance Corridors, the Remittance Network and the Money transfer system. Remittance Services are divided primarily on the basis of ways a network of access points is created and linked. There are broadly four categories: unilateral services, franchised services, negotiated services and open services. The key factors driving the growth of remittance market are increasing international migration, growing urbanization, accelerating economic growth and rising employment opportunities. A noteworthy trend of this industry is cost by sending and receiving method, unstable remittance cost, increased access to financial services, changing technology landscape for payments, more convenience and lesser costs, advancement in technology, and maturing of immigrant communities. However, the expansion of the market is hindered by derisking is threatening the industry and access points establishment. The report “Global Remittance Market� provides an in-depth analysis of the global remittance market, along with a study of top remittance receiving and contributing countries. The report also includes detailed description of regional markets. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The industry comprises few large players such as MoneyGram International Inc., Western Union Company and Euronet Worldwide Inc. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.
Global Remittance Market: Industry Analysis & Outlook (2015-2020)
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The increase in the global remittance inflow was due to increase in employment and incomes of migrants…
US$ Billion
Global Remittance Inflow (2015-2020) The global remittance inflow increased from US$... billion in 2015 to US$... billion in 2016, representing a minor growth of …%. Banks continue to be the costliest RSP type, with an average cost of …%, a modest decrease from …% seen in Q3 2016. Post offices remain below the global average, recorded at …% in Q4 2016. Remittances to low and middle income countries are expected to have increased …% to US$... billion, as compared to US$... billion in 2015. 2015
2016
2017
2018
2019
2020 Remittance Flow to Low and Middle Income Countries (2015-2020)
US$ Billion
Global Average Cost by Remittance Service Provider (Q12014-Q42016)
Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 2015
2016
2017
Global Remittance Market: Industry Analysis & Outlook (2015-2020)
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2019
2020
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Global Remittance Market: Industry Analysis & Outlook (2015-2020)
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