Money transfer agencies provide remittance services to international migrants transferring money to their native countries. It consists of different channels such as banks, money transfer providers, and distributors of mobile networks. In addition, money transfers have increased significantly, owing to growth in companies associated with customers and individuals working overseas in recent years.
This report contains market size and forecasts of Money Transfer Agencies in Global, including the following market information:
Global Money Transfer Agencies Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Money Transfer Agencies market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Money Transfer Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Money Transfer Agencies include Western Union Holdings Inc, TransferWise Ltd., Finablr, MoneyGram International, Inc, Ria Financial Services, Xoom Corporation, Remitly Inc., WorldRemit Ltd and SMALL WORLD FINANCIAL SERVICES and etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Money Transfer Agencies companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Money Transfer Agencies Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Money Transfer Agencies Market Segment Percentages, by Type, 2021 (%)
Money Transfer
Currency Exchange
Global Money Transfer Agencies Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Money Transfer Agencies Market Segment Percentages, by Application, 2021 (%)
Individuals
Business
Global Money Transfer Agencies Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Money Transfer Agencies Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Money Transfer Agencies revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Money Transfer Agencies revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Western Union Holdings Inc
TransferWise Ltd.
Finablr
MoneyGram International, Inc
Ria Financial Services
Xoom Corporation
Remitly Inc.
WorldRemit Ltd
SMALL WORLD FINANCIAL SERVICES
Azimo Limited