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India Remittance Market (2022-2027) by Appliance, Channel, Type, End User, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

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  • 189 Pages
  • March 2022
  • Region: India
  • Infogence Global Research
  • ID: 5566840
India's Remittance Market is estimated to be USD 40.21 Bn in 2022 and is expected to reach USD 54.12 Bn by 2027, growing at a CAGR of 6.12%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of India's Remittance Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentation

India's Remittance Market is segmented based on Appliance, Channel, Type, and End User
  • By Appliance, the market is classified into Consumption, Saving, and Investment.
  • By Channel, the market is classified into Life-Time Coverage, and Term Insurance.
  • By Type, the market is classified into Inward Digital Remittance, and Outward Digital Remittance.
  • By End User, the market is classified into Business, and Personal.

Report Highlights:

The 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., Bank Of - America, Citigroup, Inc., HDFC Bank Ltd (Remitnow), Remitr Payments, Sendah, UAE Exchange, Wise Payments Limited, WorldRemit Ltd, Xoom Corporation(PayPal), etc.

Competitive Quadrant

The 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.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for India's 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 also used for risk analysis to understand the risk involved with each approach.

The analyst analyses India's 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.

Why buy this report?

  • The report offers a comprehensive evaluation of India's Remittance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Indian Remittance Market

What is the estimated value of the Indian Remittance Market?

The Indian Remittance Market was estimated to be valued at $40.21 Billion in 2022.

What is the growth rate of the Indian Remittance Market?

The growth rate of the Indian Remittance Market is 6.1%, with an estimated value of $54.12 Billion by 2027.

What is the forecasted size of the Indian Remittance Market?

The Indian Remittance Market is estimated to be worth $54.12 Billion by 2027.

Who are the key companies in the Indian Remittance Market?

Key companies in the Indian Remittance Market include Azimo Ltd., Bank Of America, Citigroup, Inc., HDFC Bank Ltd (Remitnow), Euronet Worldwide, Inc, InstaReM India Pvt. Ltd., JPMorgan Chase & Co., MoneyGram International Inc. and Remitr Payments.

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Shift in Flows From Cash to Digital and From Informal to Formal Channels
4.1.2 Rise in Cross-Border Transactions
4.1.3 Increase in Government Initiatives - Diaspora Bonds
4.1.4 Reduced Remittance Cost & Transfer Time
4.2 Restraints
4.2.1 Rise in Number of Financial Frauds
4.3 Opportunities
4.3.1 Increase in Mobile-Based Payment and Internet Banking Channels
4.3.2 Growing Significance as a Source of External Financing
4.3.3 Technological Innovations in Digital Remittance
4.4 Challenges
4.4.1 Lack of Awareness for Digital Remittance
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 India's Remittance Market, By Appliance
6.1 Introduction
6.2 Consumption
6.3 Saving
6.4 Investment
7 India's Remittance Market, By Channel
7.1 Introduction
7.2 Life-Time Coverage
7.3 Term Insurance
8 India's Remittance Market, By Type
8.1 Introduction
8.2 Inward Digital Remittance
8.3 Outward Digital Remittance
9 India's Remittance Market, By End User
9.1 Introduction
9.2 Business
9.3 Personal
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 Azimo Ltd.
11.2 Bank Of America
11.3 Citigroup, Inc.
11.4 HDFC Bank Ltd (Remitnow)
11.5 Euronet Worldwide, Inc
11.6 InstaReM India Pvt. Ltd.
11.7 JPMorgan Chase & Co.
11.8 MoneyGram International Inc.
11.9 Remit2India
11.10 Remitr Payments
11.11 Ria Financial Services Ltd.
11.12 TransferGo Ltd.
11.13 Sendah
11.14 UAE Exchange
11.15 U.S. Bank
11.16 Wells Fargo
11.17 Western Union Holdings Inc.
11.18 Wise Payments Limited
11.19 WorldRemit Ltd.
11.20 Xoom Corporation(PayPal)
12 Appendix
12.1 Questionnaire

Companies Mentioned

  • Azimo Ltd.
  • Bank Of America
  • Citigroup, Inc.
  • HDFC Bank Ltd (Remitnow)
  • Euronet Worldwide, Inc
  • InstaReM India Pvt. Ltd.
  • JPMorgan Chase & Co.
  • MoneyGram International Inc.
  • Remit2India
  • Remitr Payments
  • Ria Financial Services Ltd.
  • TransferGo Ltd.
  • Sendah
  • UAE Exchange
  • U.S. Bank
  • Wells Fargo
  • Western Union Holdings Inc.
  • Wise Payments Limited
  • WorldRemit Ltd.
  • Xoom Corporation(PayPal)