US Remittance Market Report 2022-2027: Shift in Flows From Cash to Digital and From Informal to Formal Channels Driving Growth –

DUBLIN–(BUSINESS WIRE)–The “US Remittance Market (2022-2027) by Appliance, Channel, Type, End User, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to’s offering.

The US Remittance Market is estimated to be USD 173.64 Bn in 2022 and is expected to reach USD 233.47 Bn by 2027, growing at a CAGR of 6.1%.

Market Dynamics

  • drivers

    • Shift in Flows From Cash to Digital and From Informal to Formal Channels

    • Rise in Cross-Border Transactions

    • Increase in Mobile-Based Payment and Internet Banking Channels

    • Reduced Remittance Cost & Transfer Time

  • restrictions

    • Escalating Anti-Immigrant Movement

  • Opportunities

    • Growing Significance as a Source of External Financing

    • Technological Innovations in Digital Remittance

  • challenges

    • Rise in Number of Financial Frauds

market segmentation

  • The US Remittance Market is segmented based on Appliance, Channel, Type, and End User

  • Appliance, the market is classified into Consumption, Saving, and Investment.

  • Channel, the market is classified into Life-Time Coverage, and Term Insurance.

  • Type, the market is classified into Inward Digital Remittance, and Outward Digital Remittance.

  • End User, the market is classified into Business, and Personal.

Company ProfilesThe report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies’ recent development and competitive scenario. Some of the companies covered in this report are Azimo Ltd., JPMorgan Chase & Co., Western Union Holdings Inc., Wise Payments Limited, Xoom Corporation(PayPal), etc.

competitive quadrantThe report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

AnsoffAnalysisThe report presents a detailed Ansoff matrix analysis for the US Remittance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is ‚Äč‚Äčalso used for risk analysis to understand the risk involved with each approach.

The analyst analyzes the US Remittance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Key Topics Covered:

1 Report Description

2Research Methodology

3Executive Summary

4 Market Dynamics

5 Market Analysis

6 US Remittance Market, By Appliance

7 US Remittance Market, By Channel

8 US Remittance Market, By Type

9 Competitive Landscape

Companies Mentioned

  • Azimo Ltd.

  • Bank Of America

  • Citigroup, Inc.

  • Digital Wallet Corporation

  • Euronet Worldwide, Inc.

  • InstaReM India Pvt. Ltd.

  • JPMorgan Chase & Co.

  • MoneyGram International Inc.

  • OzForex Limited

  • Remit2India

  • Remitly, Inc.

  • Remit Payments

  • Ria Financial Services Ltd.

  • TransferGo Ltd.

  • UAE Exchange

  • U.S. Bank

  • Wells Fargo

  • Western Union Holdings Inc.

  • Wise Payments Limited

  • WorldRemit Ltd.

  • Xoom Corporation(PayPal)

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