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Global Remittances (Money Transfer) Market: Industry Analysis & Outlook (2019-2023)

Global Remittances (Money Transfer) Market: Industry Analysis & Outlook (2019-2023)

Remittance is referred as the money sent by immigrants to their families residing in their native countries. Remittance market plays a vital role in the economic growth and livelihoods of people across the world. Remittance inflows in developing countries make a notable share in their GDPs. Remittance market is completely dependent on the migrated population living across the world.

The global remittance market is booming at a lucrative CAGR over the years. Lower-middle income regions act as the major sources of remittance inflow whereas high income regions are usually the sources of remittance outflows. East Asia and Pacific acquired a lion’s share in global inflow of remittances. In terms of countries, India remained the largest remittance receiving country followed by China. The U.S. persisted as the largest source of remittance outflow.

Decreasing remittances costs and increasing number of international immigrants are the key drivers for market growth. Additionally, number of refugees increases every year seeking shelter and better livelihood in other countries. These immigrants and refugees send high amount of remittances to their families residing overseas.

In terms of competition, key players of the market include PayPal Holdings Inc., Western Union, Euronet, and MoneyGram international. These firms have huge volume of cross border transactions. But many international organizations are pressurizing the Banks and MTOs to reduce remittance fee, affecting their revenues. This is allowing new entrants to position against the existing players as new entrants can lower remittance fees as a tangible differentiator.


1. Overview
1.1 Remittance
Table 1: Types of Remittance Service
1.2 Components of Remittance Marketplace
1.3 Remittance Market Value Chain
Table 2: Value Chain: Remittance Industry
2. Remittance Market Analysis
2.1 Global Remittance Inflow
Table 3: Global Remittance Inflow (2014-2018)
2.2 Global Remittance Inflow Forecast
Table 4: Global Remittance Inflow Forecast (2019-2023)
2.3 Global Remittance Inflow to Low-Middle Income Region
Table 5: Global Remittance Inflow to Low-Middle Income Region (2014-2018)
2.4 Global Remittance Inflow to Low-Middle Income Region Forecast
Table 6: Global Remittance Inflow to Low-Middle Income Region Forecast (2019-2023)
2.5 Global Remittance Inflow by Countries
Table 7: Global Remittance Inflow by Countries (2018)
2.5.1 India Remittance Inflow Forecast
Table 8: India Remittance Inflow Forecast (2014-2023)
2.5.2 China Remittance Inflow Forecast
Table 9: China Remittance Inflow Forecast (2014-2023)
2.5.3 Philippines Remittance Inflow Forecast
Table 10: Philippines Remittance Inflow Forecast (2014-2023)
2.5.4 Mexico Remittance Inflow Forecast
Table 11: Mexico Remittance Inflow Forecast (2014-2023)
2.5.5 Egypt, Arab Republic Remittance Inflow Forecast
Table 12: Egypt, Arab Republic Remittance Inflow Forecast (2014-2023)
2.6 Global Remittance Outflow by Countries
Table 13: Global Remittance Outflow by Countries (Top 5) (2018)
2.6.1 The U.S. Remittance Outflows Forecast
Table 14: The U.S. Remittance Outflows Forecast (2017-2022)
2.6.2 United Arab Emirates Remittance Outflows Forecast
Table 15: United Arab Remittance Outflows Forecast (2014-2023)
2.6.3 Saudi Arabia Remittance Outflows Forecast
Table 16: Saudi Arabia Remittance Outflows Forecast (2014-2023)
2.6.4 Switzerland Remittance Outflows Forecast
Table 17: Switzerland Remittance Outflows Forecast (2014-2023)
2.6.5 Germany Remittance Outflows Forecast
Table 18: Germany Remittance Outflows Forecast (2014-2023)
3. Lower Middle Income Regions Remittance Market Analysis
3.1 Lower Middle Income Region Remittance Inflow Share
Table 19: Lower Middle Income Region Remittance Inflow Share (2018)
3.2 East Asia-Pacific Remittance Inflow Forecast
Table 20: East Asia-Pacific Remittance Inflow Forecast (2014-2023)
3.3 South Asia Remittance Inflow Forecast
Table 21: South Asia Remittance Inflow Forecast (2014-2023)
3.4 Latin America & Caribbean Remittance Inflow Forecast
Table 22: Latin America & Caribbean Remittance Inflow Forecast (2014-2023)
3.5 Middle East & North Africa Remittance Inflow Forecast
Table 23: Middle East & North Africa Remittance Inflow Forecast (2014-2023)
3.6 Europe & Central Asia Remittance Inflow Forecast
Table 24: Europe & Central Asia Remittance Inflow Forecast (2014-2023)
3.7 Sub-Saharan Africa Remittance Inflow Forecast
Table 25: Sub-Saharan Africa Remittance Inflow Forecast (2014-2023)
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Decreasing Remittance Costs
Table 26: Global Average Costs of Remittance (2014-Q32018)
4.1.2 Increasing International Migration
Table 27: Global International Migrants Population (2014-2018)
4.1.3 Improving Economic Growth
Table 28: Global GDP per Capita (2014-2018)
4.1.4 Increasing Youth Unemployment Rate
Table 29: Global Youth Unemployment Rate (2014-2018)
4.1.5 Growing Urbanization
Table 30: Global Urban Population (2014-2018)
4.1.6 Growing Population of Refugees
Table 31: Global Refugees Population (2014-2018)
4.1.7 Increasing Disposable Income
Table 32: Global GNI per Capita (2014-2018)
4.2 Key Trends
4.2.1 Fluctuating Remittance Costs by Region
Table 33: Global Average Remittance Costs by Region (Q317/Q318)
4.2.2 Average Remittance Sending Costs by G20 Countries
Table 34: Average Remittance Sending Costs by G20 Countries (June 2018)
4.2.3 Rising Demand of Mobile Payment Transactions
Table 35: Global Mobile Payment Transactions Forecast (2018-2023)
4.2.4 High Pressures to Lower Remittance Fees on MTOs
4.2.5 Growing Options of Sending Money
4.3 Challenges
4.3.1 De-risking Practices
4.3.2 Government Regulations
5. Competition
5.1 Global Market
5.1.1 Revenue Comparison of Key Players
Table 36: Revenue Comparison of Key Players (2017/18)
5.1.2 Market Cap Comparison of Key Players
Table 37: Market Cap Comparison of Key Players
5.1.3 Cross Border Money Transfer Volume Comparison of Key Players
Table 38: Cross Border Money Transfer Volume Comparison of Key Players (2018)
5.1.4 Comparison of Services Offered by Money Transfer Operators
Table 39: Comparison of Services Offered by Money Transfer Operators
6. Company Profiles
6.1 PayPal Holdings Inc.
6.1.1 Business Overview
Table 40: PayPal Holdings Inc. Revenue by Segment (2018)
6.1.2 Financial Overview
Table 41: PayPal Holdings Inc. Revenue & Net Income (2014-2018)
6.1.3 Business Strategies
6.2 Western Union
6.2.1 Business Overview
Table 42: Western Union Revenue by Segment (2017)
6.2.2 Financial Overview
Table 43: Western Union Revenue & Net Income (2013-2017)
6.2.3 Business Strategies
6.3 Euronet
6.3.1 Business Overview
Table 44: Euronet Revenue by Segment (2017)
6.3.2 Financial Overview
Table 45: Euronet Revenue & Net Income (2013-2017)
6.3.3 Business Strategies
Table 46: Euronet R&D Expenditure (2015-2017)
6.4 MoneyGram International Inc.
6.4.1 Business Overview
Table 47: MoneyGram International Inc. by Segment (2017)
6.4.2 Financial Overview
Table 48: MoneyGram International Inc. Total Revenue & Net Loss/Income (2013-2017)
6.4.3 Business Strategies

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