Analysis of International Remittance Market 2021: By Industry Trends, Share, Key Players and Forecast till 2030

 In terms of revenue, the Southeast Asia international remittance market was valued at US$ 579.86 Mn in 2020 and is expected to reach US$ 1119.24 Mn by 2030, growing at a CAGR of 7.6% over the forecast period (2021 – 2030). For a strong and effective business outlook, Absolute Markets Insights has added statistical data to its repository titled as International Remittance Market. To give the total clear examination of innovation area investigators of the report utilizes exploratory exploration approaches like subjective and quantitative investigation.

Different top key players such as Bank of America Corporation, BANK OF CHINA (BOC), Citigroup, Inc., DBS, MoneyGram, NIUM Pte. Ltd., OCBC Bank, OFX Singapore Pte. Limited, Paysafe Holdings UK Limited (Skrill), PT Indo Koala Remitance, Standard Chartered Bank, TorFX Singapore, TransferWise Limited, United Overseas Bank Limited, Western Union Holdings, Inc. and WorldRemit Ltd give the comparative analysis of demand supply chain. In addition to this, it highlights the historical developments, recent trends, and predictions about the future growth of the International Remittance market.

For more information about this report visit:https://www.absolutemarketsinsights.com/reports/International-Remittance-Market-2021---2029-809

Based on the end-user, the Southeast Asia international remittance market is bifurcated into individuals and businesses. Individuals accounted for the highest market share in 2020. Increasing use of banking and non-banking institutions by individuals for money transfer and currency exchange in Southeast Asia contributed for the higher share of this sub-segment in the Southeast Asia international remittance market. Furthermore, individuals are also expected to show the highest growth during the forecast years in the Southeast Asia international remittance market, with an expected CAGR of 7.7%.  

Based on providers, the Southeast Asia international remittance market is bifurcated into banking and non-banking institutions. Non-banking institutions accounted for the highest market share in 2020 and are expected to grow at the fastest growth rate of 7.8% over the forecast period (2021 – 2030).

Based on type, the Southeast Asia international remittance market is bifurcated into inbound remittance and outbound remittance. Inbound remittance accounted for the highest market share in 2020 and is expected to grow at the fastest growth rate over the forecast period (2021 – 2030).

Based on mode, the Southeast Asia international remittance market is bifurcated into online and offline. Offline mode accounted for the highest market share in 2020, however, online mode of transfer is expected to grow at the fastest growth rate of 8.3% over the forecast period. (2021 – 2030).  Online mode is further bifurcated into web-based and app-based, wherein web-based segment accounted for the highest market share in 2020.

Global International Remittance Market: Report Scope

By End-User

• Individuals
• Businesses

By Providers

• Banking Institutions
• Non-banking Institutions

By Type

• Inbound Remittance
• Outbound Remittance

By Mode

• Online
• Web-based
• App-based
• Offline

By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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