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Remittance Market Driven by Increasing Demand for Global Money Transfer
The remittance market size as $1.74 billion in 2018. Moreover, the remittance market is poised to grow at a CAGR of 19.56% during the forecast period 2019-2025.

BriefingWire.com, 9/13/2019 - The remittance market is gaining traction due to an increase in the demand of money transfer by immigrants. The existing refugee crisis, being available beyond the fee costs, and security benefits are estimated to enhance the market share of remittance. Remittance market plays a vital role in the economic growth and constitutes a major share in the GDPs of the developing countries. The global remittance market is anticipated to grow more in the upcoming years due to growing urbanization, decreasing remittance costs, improving economic growth, and increasing disposable income. According to the World Bank data, there are around $6,417m migrant remittance inflows in the U.S. in 2018. The analyst from IndustryARC evaluated that the remittance market size as $1.74 billion in 2018. Moreover, the remittance market is poised to grow at a CAGR of 19.56% during the forecast period 2019-2025.

IndustryARC’s report is titled “ Remittance Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019 - 2024.” The report provides a detailed analysis of the competitive landscape, market drivers, industry verticals, market trends, future prospects, application analysis, product types, company revenue, market share, supply and demand analysis of the global remittance market.

Browse Remittance Market Report Link: www.industryarc.com/Research/Remittance-Market-Research-502490

Remittance Market: Growth Drivers

· In the developing economies, the remittance flow is a reliable and financial resource. An increasing trend of mobile payments and availability of various money sending options are the key growth drivers of this market, which in turn, drives the remittance market in the application industries such as automobile, and healthcare. Due to rising demand from mobile banking based applications in the banking sector, the remittance market is expected to hold a notable share over the projected years.

Remittance Market: Competitive Landscape

The market for remittance is strongly affiliated with few major players having a larger share of the global market. The few top players in the remittance market are WorldRemit Ltd., InstaReM, Ria Financial Outward Remittance, Azimo Ltd., TransferWise Ltd., WorldRemit Ltd., Banco Bradesco Sa, Euronet Worldwide, Inc, Societe Generale, The Kroger Co, and SingX Pte Ltd.

Mergers and acquisitions are the other key strategies adopted by the players to stay ahead of their competitors. Banco Bradesco Sa, Brazil-based banking and finances company has announced its acquisition with BAC Florida, a U.S. based banking expertise on May 6, 2019. With this acquisition Bradesco will expand its services in banking sector such as checking account, credit card, and real estate financing, which in turn, trigger the remittance market growth.

Talk to one of our sales representative about the full report by providing your details in the link below:

www.industryarc.com/support.php?id=502490

About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

 
 
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