
Global and United States Remittance Market Report & Forecast 2023-2029
The report classifies the business vertical into various segments based on components, voltage, end-user scope, and regional division. A thorough analysis of each segment with respect to their market share, growth rate, and revenue contribution forms a major part of the study.
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The research time span covered by the report is from 2018 to 2029; it provides an overview of the Global Remittance Market and also provides a deeper in-depth segmentation of the market by regions, product type and downstream industries.
The global Remittance market size in 2022 is 866200.0 million US dollars, and it is expected to be 1243416.9 million US dollars by 2029, with a compound annual growth rate of 5.30% expected in 2023-2029.
MARKET COMPETITIVE LANDSCAPE:
The main players in the Remittance market include Bank of America, Citigroup Inc., JPMorgan Chase & Co., MoneyGram International Inc., and RIA Financial Services Ltd.. The share of the top 3 players in the Remittance market is xx%.
REGION SHARE:
The report covers the market size information of North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and North America accounted for xx%, Europe accounted for xx% of Remittance market, and Asia Pacific accounted for xx%.
SEGMENT OVERVIEW:
The report segments the market by Type and Application. Business accounted for xx% of Remittance market in 2022. Personal share of xx%.
Consumption accounted for xx% of the Remittance market in 2022. Savings accounts for xx%.
For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.
As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.
Key Factors Considered:
COVID-19
The report describes the market scenario during and post the pandemic in the vision of upstream, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.
Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it's going to evolve in the years to come.
Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.
In the past few years, the Information Technology (IT) and Telecommunication industry has witnessed significant developments across various fronts.
5G Technology: The deployment of 5G networks has gained momentum globally. 5G offers faster speeds, lower latency, and increased network capacity compared to its predecessors, enabling transformative applications such as autonomous vehicles, Internet of Things (IoT) devices, augmented reality, and virtual reality.
Cybersecurity: With the rise in cyber threats, cybersecurity has become a critical focus area. New approaches to security, such as advanced encryption, behavioral analytics, and threat intelligence, are being implemented to protect data, networks, and systems. Additionally, privacy regulations like the EU's General Data Protection Regulation (GDPR) have prompted increased attention to data protection.
The industry continues to grow at a rapid pace, driven by the increasing integration of innovation and technology into every aspect of consumers' lives.
Market Data Breakdown by Regions
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Asia Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Latin America
Brazil
Argentina
Mexico
MEA
Saudi Arabia
UAE
Turkey
Some prominent players in the market includes:
Bank of America
Citigroup Inc.
JPMorgan Chase & Co.
MoneyGram International Inc.
RIA Financial Services Ltd.
TransferWise Ltd.
UAE Exchange
Wells Fargo
Western Union Holdings Inc.
XOOM
Market Data Breakdown by Type
Business
Personal
Market Data Breakdown by Applications
Consumption
Savings
Investment
Table of Content
1 Study Coverage
1.1 Remittance Product Introduction
1.2 Global Remittance Outlook 2018 VS 2023 VS 2029
1.3 United States Remittance Outlook 2018 VS 2023 VS 2029
1.4 Remittance Market Size, United States VS Global, 2018-2029
1.4.1 The Market Share of United States Remittance in Global, 2018-2029
1.4.2 The Growth Rate of Remittance Market Size, United States VS Global, 2018 VS 2023 VS 2029
1.5 Remittance Market Dynamics
1.5.1 Remittance Market Trends
1.5.2 Remittance Market Drivers
1.5.3 Remittance Market Challenges
1.5.4 Remittance Market Restraints
1.6 Study Objectives
1.7 Years Considered
1.8 Coronavirus Disease (COVID-19) Impact on Global
2 Global Remittance Competitor Landscape by Company
2.1 Global Remittance Market Size by Company
2.1.1 Top Global Remittance Player Ranked by Revenue (2023)
2.1.2 Global Remittance Revenue by Player (2018-2023)
2.2 Global Remittance Concentration Ratio (CR)
2.2.1 Remittance Market Concentration Ratio (CR) (2018-2023)
2.2.2 Global Top 3 and Top 6 Largest Players of Remittance in 2023
2.3 Global Remittance Business Distribution, Business Type
2.3.1 Global Remittance Players, Headquarters and Distribution
2.3.2 Players Remittance Business Type
2.3.3 Date of International Players Enter into Remittance Market
2.4 Players Mergers & Acquisitions, Expansion Plans
2.5 United States Remittance Market Size by Company
2.5.1 Top United States Remittance Player s Ranked by Revenue (2023)
2.5.2 United States Remittance Revenue by Player (2018-2023)
3 Remittance Market Segment by Type
3.1 Remittance Market Segment by Type
3.2 Global Remittance Market Size by Type
3.3 United States Remittance Market Size by Type
4 Remittance by Market Segment Application
4.1 Remittance Market Segment by Application
4.2 Global Remittance Market Size by Application
4.3 United States Remittance Market Size by Application
5 Global Remittance Market Size by Region
5.1 Global Remittance Market Size by Region: 2018 VS 2023 VS 2029
5.2 Global Remittance Market Size in Value by Region (2018-2029)
5.2.1 Global Remittance Revenue by Region: 2018-2023
5.2.2 Global Remittance Revenue by Region: 2023-2029
6 Segment in Regional Level & Country Level
6.1 North America
6.1.1 North America Remittance Market Size YoY Growth 2018-2029
6.1.2 North America Remittance Market Facts & Figures by Country (2018-2029)
6.1.3 U.S.
6.1.4 Canada
6.2 Asia Pacific
6.2.1 Asia Pacific Remittance Market Size YoY Growth 2018-2029
6.2.2 Asia Pacific Remittance Market Facts & Figures by Country (2018-2029)
6.2.3 China
6.2.4 Japan
6.2.5 South Korea
6.2.6 India
6.2.7 Australia
6.2.8 Southeast Asia
6.3 Europe
6.3.1 Europe Remittance Market Size YoY Growth 2018-2029
6.3.2 Europe Remittance Market Facts & Figures by Country (2018-2029)
6.3.3 Germany
6.3.4 France
6.3.5 UK
6.3.6 Italy
6.3.7 Russia
6.4 Latin America
6.4.1 Latin America Remittance Market Size YoY Growth 2018-2029
6.4.2 Latin America Remittance Market Facts & Figures by Country (2018-2029)
6.4.3 Mexico
6.4.4 Brazil
6.4.5 Argentina
6.5 Middle East and Africa
6.5.1 Middle East and Africa Remittance Market Size YoY Growth 2018-2029
6.5.2 Middle East and Africa Remittance Market Facts & Figures by Country (2018-2029)
6.5.3 Turkey
6.5.4 Saudi Arabia
6.5.5 UAE
7 Company Profiles
7.1 Bank of America
7.1.1 Company Details
7.1.2 Description and Business Overview
7.1.3 Remittance Introduction
7.1.4 Bank of America Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.1.5 Bank of America Recent Development
7.2 Citigroup Inc.
7.2.1 Company Details
7.2.2 Description and Business Overview
7.2.3 Remittance Introduction
7.2.4 Citigroup Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.2.5 Citigroup Inc. Recent Development
7.3 JPMorgan Chase & Co.
7.3.1 Company Details
7.3.2 Description and Business Overview
7.3.3 Remittance Introduction
7.3.4 JPMorgan Chase & Co. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.3.5 JPMorgan Chase & Co. Recent Development
7.4 MoneyGram International Inc.
7.4.1 Company Details
7.4.2 Description and Business Overview
7.4.3 Remittance Introduction
7.4.4 MoneyGram International Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.4.5 MoneyGram International Inc. Recent Development
7.5 RIA Financial Services Ltd.
7.5.1 Company Details
7.5.2 Description and Business Overview
7.5.3 Remittance Introduction
7.5.4 RIA Financial Services Ltd. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.5.5 RIA Financial Services Ltd. Recent Development
7.6 TransferWise Ltd.
7.6.1 Company Details
7.6.2 Description and Business Overview
7.6.3 Remittance Introduction
7.6.4 TransferWise Ltd. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.6.5 TransferWise Ltd. Recent Development
7.7 UAE Exchange
7.7.1 Company Details
7.7.2 Description and Business Overview
7.7.3 Remittance Introduction
7.7.4 UAE Exchange Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.7.5 UAE Exchange Recent Development
7.8 Wells Fargo
7.8.1 Company Details
7.8.2 Description and Business Overview
7.8.3 Remittance Introduction
7.8.4 Wells Fargo Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.8.5 Wells Fargo Recent Development
7.9 Western Union Holdings Inc.
7.9.1 Company Details
7.9.2 Description and Business Overview
7.9.3 Remittance Introduction
7.9.4 Western Union Holdings Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.9.5 Western Union Holdings Inc. Recent Development
7.10 XOOM
7.10.1 Company Details
7.10.2 Description and Business Overview
7.10.3 Remittance Introduction
7.10.4 XOOM Remittance Revenue, Gross, and Gross Margin (2018-2023)
7.10.5 XOOM Recent Development
8 Value Chain and Sales Channels Analysis
8.1 Remittance Value Chain Analysis
8.2 Remittance Customers
9 Research Findings and Conclusion
10 Methodology and Data Source
10.1 Methodology
10.1.1 Research Process
10.1.2 Market Size Estimation
10.1.3 Market Breakdown and Data Triangulation
10.2 Data Source
10.2.1 Legal Disclaimer
Tables & Figures:
List of Tables and Figures
Figure Remittance Product Picture
Table Global Remittance Revenue, ($), 2018 VS 2023 VS 2029
Figure Global Remittance Market Size 2018-2029 ($)
Table United States Remittance Revenue, ($), 2018 VS 2023 VS 2029
Figure United States Remittance Market Size 2018-2029 ($)
Figure United States Remittance Market Share in Global, in Value 2018-2029
Table Remittance CAGR in Value, United States VS Global, 2018 VS 2023 VS 2029
Table Remittance Market Trends
Table Remittance Market Drivers
Table Remittance Market Challenges
Table Remittance Market Restraints
Figure Remittance Report Years Considered
Figure (COVID-19) Impact on Global Economic Growth 2019, 2020, 2021
Figure Population infected by the Covid-19 of Major Countries
Table Top Remittance Players in Global Market, Ranking by Revenue (2023)
Table Global Remittance Revenue by Player, ($), 2018-2023
Table Global Remittance Revenue Share by Player, 2018-2023
Table Global Remittance Players Market Concentration Ratio (CR5)
Figure The Top 3 and 6 Largest Players of Remittance in the World: Market Share by Remittance Revenue in 2023
Table Top Players of Remittance in Global Market, Headquarters and Distribution
Table Players Remittance Business Type
Table Date of International Players Enter into Remittance Market
Table Players Mergers & Acquisitions, Expansion Plans
Table Top Remittance Players in United States Market, Ranking by Revenue (2023)
Table United States Remittance Revenue by Player, ($), 2018-2023
Table United States Remittance Revenue Share by Player, 2018-2023
Table Global Remittance Revenue by Type: 2023 VS 2029 ($)
Figure Global Remittance Market Share by Type in 2023 & 2029
Figure Global Remittance Revenue by Type (2018-2029) & ($)
Figure Global Remittance Revenue Market Share in Value by Type (2018-2029)
Table United States Remittance Revenue by Type: 2023 VS 2029 ($)
Figure United States Remittance Market Share by Type in 2023 & 2029
Figure United States Remittance Revenue by Type (2018-2029) & ($)
Figure United States Remittance Revenue Market Share in Value by Type (2018-2029)
Table Global Remittance Revenue by Application: 2023 VS 2029 ($)
Figure Global Remittance Market Share by Application in 2023 & 2029
Figure Global Remittance Revenue by Application (2018-2029) & ($)
Figure Global Remittance Revenue Market Share in Value by Application (2018-2029)
Table United States Remittance Revenue by Application: 2023 VS 2029 ($)
Figure United States Remittance Market Share by Application in 2023 & 2029
Figure United States Remittance Revenue by Application (2018-2029) & ($)
Figure United States Remittance Revenue Market Share in Value by Application (2018-2029)
Table Global Remittance Market Size by Region ($): 2018 VS 2023 VS 2029
Figure Global Remittance Market Size Market Share by Region: 2018 VS 2023 VS 2029
Table Global Remittance Revenue by Region (2018-2023) & ($)
Table Global Remittance Revenue Forecast by Region (2023-2029) & ($)
Table Global Remittance Revenue Market Share by Region (2018-2029)
Figure North America Remittance Revenue Growth Rate 2018-2029
Table North America Remittance Revenue by Country (2018-2029) & ($)
Figure U.S. Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Canada Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Asia Pacific Remittance Revenue Growth Rate 2018-2029 ($)
Table Asia Pacific Remittance Revenue by Country (2018-2029) & ($)
Figure China Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Japan Remittance Revenue Growth Rate (2018-2029) & ($)
Figure South Korea Remittance Revenue Growth Rate (2018-2029) & ($)
Figure India Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Australia Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Southeast Asia Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Europe Remittance Revenue Growth Rate 2018-2029 ($)
Table Europe Remittance Revenue by Country (2018-2029) & ($)
Figure Germany Remittance Revenue Growth Rate (2018-2029) & ($)
Figure France Remittance Revenue Growth Rate (2018-2029) & ($)
Figure UK Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Italy Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Russia Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Latin America Remittance Revenue Growth Rate 2018-2029 ($)
Table Latin America Remittance Revenue by Country (2018-2029) & ($)
Figure Mexico Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Brazil Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Argentina Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Middle East and Africa Remittance Revenue Growth Rate 2018-2029 ($)
Table Middle East and Africa Remittance Revenue by Country (2018-2029) & ($)
Figure Turkey Remittance Revenue Growth Rate (2018-2029) & ($)
Figure Saudi Arabia Remittance Revenue Growth Rate (2018-2029) & ($)
Figure UAE Remittance Revenue Growth Rate (2018-2029) & ($)
Table Bank of America Company Details
Table Description and Business Overview
Table Remittance Introduction
Table Bank of America Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table Bank of America Recent Development
Table Citigroup Inc. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table Citigroup Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table Citigroup Inc. Recent Development
Table JPMorgan Chase & Co. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table JPMorgan Chase & Co. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table JPMorgan Chase & Co. Recent Development
Table MoneyGram International Inc. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table MoneyGram International Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table MoneyGram International Inc. Recent Development
Table RIA Financial Services Ltd. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table RIA Financial Services Ltd. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table RIA Financial Services Ltd. Recent Development
Table TransferWise Ltd. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table TransferWise Ltd. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table TransferWise Ltd. Recent Development
Table UAE Exchange Company Details
Table Description and Business Overview
Table Remittance Introduction
Table UAE Exchange Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table UAE Exchange Recent Development
Table Wells Fargo Company Details
Table Description and Business Overview
Table Remittance Introduction
Table Wells Fargo Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table Wells Fargo Recent Development
Table Western Union Holdings Inc. Company Details
Table Description and Business Overview
Table Remittance Introduction
Table Western Union Holdings Inc. Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table Western Union Holdings Inc. Recent Development
Table XOOM Company Details
Table Description and Business Overview
Table Remittance Introduction
Table XOOM Remittance Revenue, Gross, and Gross Margin (2018-2023) (Million USD)
Table XOOM Recent Development
Figure Remittance Value Chain
Table Major Customers of Remittance with Contact Information
Table Research Process
Figure Bottom-up and Top-down Approaches for This Report
Research Methodology:
Global and United States Remittance Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Qualitative Analysis |
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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Total Market |
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