Global Remittance Market: Industry Analysis & Outlook (2015-2020) - Koncept Analytics

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Industry Research by Koncept Analytics
Global Remittance Market Industry Analysis
Outlook -----------------------------------------
(2015-2020)
February 2017
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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 de-risking 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.
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The increase in the global remittance inflow was
due to increase in employment and incomes of
migrants
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.

Global Average Cost by Remittance Service
Provider (Q12014-Q42016)
Remittance Flow to Low and Middle Income
Countries (2015-2020)
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