Remittance Software market is expected to grow US$ 3323.41 Mn by 2025 from US$ 1279.64 Mn in 2017. Cloud deployment model expected to continue its dominance as well as currently almost 61% of the Remittance Software deployments are on cloud. Cloud models are most preferred by large organizations to store, manage and share efficiently the critical and sensitive data. Lesser investments and easy integration with the systems have made the adoption of cloud deployment model more attractive among large enterprises.
Key trend which will predominantly affect the market in coming year is remittance software market is rising due to increasing number of migrants across the globe and smartphones penetration in developing countries. The needs and wants of customer increase each passing day modernization and innovation in traditionally used methods for remittance took place for gaining customer retention and loyalty. The companies that survive in the ecosystem would be on account of innovations and to support the digital workplace. The Remittance Software vendors would be classified in a broader category and be acquired by players who want to add remittance software as feature to their larger platform of technology. In addition to this, the market is highly fragmented market with the top ten companies accounting for approximately 20% of the market share. Less entry barriers to enter the business has favored the influx of many small companies into this business. The existing business models that were the brick-and-mortar stores are anticipated to face huge pressures from digital modes of money transfer. Also, the market saturations in the advanced countries of the world would lead to players tapping opportunities in the Sub-Saharan African regions as well as some of the developing Asian economies.
Remittance Software market by application is segmented into personal remittance software, business remittance software, and public remittance software. The propagation of smart phone across the globe and reduction in remittance cost in recent years are some of the trends contributing to the emerging remittance software market. Almost all the industry verticals are increasingly demanding remittance software capabilities that is less time-consuming mode for money transfer and secured.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview was conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the remittance software industry.
Key trend which will predominantly affect the market in coming year is remittance software market is rising due to increasing number of migrants across the globe and smartphones penetration in developing countries. The needs and wants of customer increase each passing day modernization and innovation in traditionally used methods for remittance took place for gaining customer retention and loyalty. The companies that survive in the ecosystem would be on account of innovations and to support the digital workplace. The Remittance Software vendors would be classified in a broader category and be acquired by players who want to add remittance software as feature to their larger platform of technology. In addition to this, the market is highly fragmented market with the top ten companies accounting for approximately 20% of the market share. Less entry barriers to enter the business has favored the influx of many small companies into this business. The existing business models that were the brick-and-mortar stores are anticipated to face huge pressures from digital modes of money transfer. Also, the market saturations in the advanced countries of the world would lead to players tapping opportunities in the Sub-Saharan African regions as well as some of the developing Asian economies.
Remittance Software market by application is segmented into personal remittance software, business remittance software, and public remittance software. The propagation of smart phone across the globe and reduction in remittance cost in recent years are some of the trends contributing to the emerging remittance software market. Almost all the industry verticals are increasingly demanding remittance software capabilities that is less time-consuming mode for money transfer and secured.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview was conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the remittance software industry.
Table of Contents
1.1 List of Tables1.2 List of Figures
2 Introduction
2.1 Scope of the Study
2.2 Research Report Guidance
3 Key Takeaways
4 Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Remittance Software Market - By Software
4.2.2 Global Remittance Software Market - By Deployment Type
4.2.3 Global Remittance Software Market - By Application
4.2.4 Global Remittance Software Market - By Geography
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia Pacific PEST Analysis
4.3.4 Middle East & Africa PEST Analysis
4.3.5 South America PEST Analysis
5 Global Remittance Software Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Proliferation in Adoption of Mobile App based Remittance Service
5.1.2 Increasing Number of Migrants
5.1.3 Decline in Remittance Cost
5.2 Key Market Restraints
5.2.1 Limited Money Distribution Methods
5.2.2 Cyber Security Concern
5.3 Key Market Opportunities
5.3.1 Emergence of New Technologies
5.3.2 Focusing on Customer Experience
5.4 Future Trends
5.4.1 Emerging Economies Gain More Prominence
5.5 Impact Analysis of Drivers and Restraints
6 Remittance Software Market - Global
6.1 Global Remittance Software Market Overview
6.2 Global Remittance Software Market Forecast and Analysis
7 Global Remittance Software Market Analysis - By Software
7.1 Overview
7.2 Web-Based Software
7.2.1 Overview
7.2.2 Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn)
7.3 Application Based Software
7.3.1 Overview
7.3.2 Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn)
8 Global Remittance Software Market Analysis - By Deployment Type
8.1 Overview
8.2 On-Premise Deployment Type
8.2.1 Overview
8.2.2 Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn)
8.3 Cloud Deployment Type
8.3.1 Overview
8.3.2 Global Cloud Deployment Market Revenue and Forecasts to 2025 (US$ Mn)
9 Global Remittance Software Market Analysis - By Application
9.1 Overview
9.2 Personal Remittance Software
9.2.1 Overview
9.2.2 Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
9.3 Business Remittance Software
9.3.1 Overview
9.3.2 Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
9.4 Public Remittance Software
9.4.1 Overview
9.4.2 Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10 Global Remittance Software Market - Geographical Analysis
10.1 Overview
10.2 North America Remittance Software Market Revenue and Forecasts to 2025
10.2.1 Overview
10.2.2 North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3 North America Remittance Software Market Breakdown by Key Countries
10.2.3.1 U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3.2 Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3.3 Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.4 North America Remittance Software Market Breakdown by Software
10.2.5 North America Remittance Software Market Breakdown by Deployment Type
10.2.6 North America Remittance Software Market Breakdown by Application
10.3 Europe Remittance Software Market Revenue and Forecasts to 2025
10.3.1 Overview
10.3.2 Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3 Europe Remittance Software Market Breakdown by Key Countries
10.3.3.1 France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.2 Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.3 Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.4 Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.5 UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.6 Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.4 Europe Remittance Software Market Breakdown by Software
10.3.5 Europe Remittance Software Market Breakdown by Deployment Type
10.3.6 Europe Remittance Software Market Breakdown by Application
10.4 Asia Pacific (APAC) Remittance Software Market Revenue and Forecasts to 2025
10.4.1 Overview
10.4.2 Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3 Asia Pacific Remittance Software Market Breakdown by Key Countries
10.4.3.1 Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.2 China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.3 India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.4 Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.5 Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.4 Asia Pacific Remittance Software Market Breakdown by Software
10.4.5 Asia Pacific Remittance Software Market Breakdown by Deployment Type
10.4.6 Asia Pacific Remittance Software Market Breakdown by Application
10.5 Middle East & Africa (MEA) Remittance Software Market Revenue and Forecasts to 2025
10.5.1 Overview
10.5.2 Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3 Middle East & Africa Remittance Software Market Breakdown by Key Countries
10.5.3.1 Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3.2 UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3.3 South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.4 Middle East and Africa Remittance Software Market Breakdown by Software
10.5.5 Middle East and Africa Remittance Software Market Breakdown by Deployment Type
10.5.6 Middle East and Africa Remittance Software Market Breakdown by Application
10.6 South America Remittance Software Market Revenue and Forecasts to 2025
10.6.1 Overview
10.6.2 South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.6.3 South America Remittance Software Market Breakdown by Key Countries
10.6.3.1 Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
10.6.4 South America Remittance Software Market Breakdown by Software
10.6.5 South America Remittance Software Market Breakdown by Deployment Type
10.6.6 South America Remittance Software Market Breakdown by Application
11 Industry Landscape
11.1 Market Initiatives
11.2 Merger & Acquisitions
11.3 Investment Scenario
12 Competitive Landscape
12.1 Competitive Product Mapping
12.2 Market Positioning - Global Top 5 Players Ranking
13 Global Remittance Software Market - Key Company Profiles
13.1 ControlBox Corp.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Financial Overview
13.1.4 SWOT Analysis
13.1.5 Key Developments
13.2 Daemon Enterprise Private Limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Financial Overview
13.2.4 SWOT Analysis
13.2.5 Key Developments
13.3 FinCode Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Financial Overview
13.3.4 SWOT Analysis
13.3.5 Key Developments
13.4 Fiserv, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Financial Overview
13.4.4 SWOT Analysis
13.4.5 Key Developments
13.5 Girmiti Software Pvt. Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Financial Overview
13.5.4 SWOT Analysis
13.5.5 Key Developments
13.6 Grey Systems
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Financial Overview
13.6.4 SWOT Analysis
13.6.5 Key Developments
13.7 White Wings Technologies (MTS)
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Financial Overview
13.7.4 SWOT Analysis
13.7.5 Key Developments
13.8 Xoom (PayPal Holdings, Inc.)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Financial Overview
13.8.4 SWOT Analysis
13.8.5 Key Developments
13.9 RemitOne Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Financial Overview
13.9.4 SWOT Analysis
13.9.5 Key Developments
13.10 World Remit
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Financial Overview
13.10.4 SWOT Analysis
13.10.5 Key Developments
14 Appendix
14.1 About the Publisher
14.2 Glossary of Terms
14.3 Methodology
14.3.1 Coverage
14.3.2 Secondary Research
14.3.3 Primary Research
14.4 Contact Us
14.5 Disclaimer
1.1 List of Tables
Table 1: Global Remittance Software Market Revenue and Forecasts to 2025 (US$ Bn)
Table 2: North America Remittance Software Market Revenue and Forecasts to 2025 - By Software (US$ Mn)
Table 3: North America Remittance Software Market Revenue and Forecasts to 2025 - By Deployment Type (US$ Mn)
Table 4: North America Remittance Software Market Revenue and Forecasts to 2025 - By Application (US$ Mn)
Table 5: Europe Remittance Software Market Revenue and Forecasts to 2025 - By Software (US$ Mn)
Table 6: Europe Remittance Software Market Revenue and Forecasts to 2025 - By Deployment Type (US$ Mn)
Table 7: Europe Remittance Software Market Revenue and Forecasts to 2025 - By Application (US$ Mn)
Table 8: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 - By Software (US$ Mn)
Table 9: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 - By Deployment Type (US$ Mn)
Table 10: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 - By Application (US$ Mn)
Table 11: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 - By Software (US$ Mn)
Table 12: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 - By Deployment Type (US$ Mn)
Table 13: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 - By Application (US$ Mn)
Table 14: South America Remittance Software Market Revenue and Forecasts to 2025 - By Software (US$ Mn)
Table 15: South America Remittance Software Market Revenue and Forecasts to 2025 - By Deployment Type (US$ Mn)
Table 16: South America Remittance Software Market Revenue and Forecasts to 2025 - By Application (US$ Mn)
Table 17: Glossary of Terms, Remittance Software Market
1.2 List of Figures
Figure 1: Remittance Software Market, South America Revenue for App based Software (US$ Mn), 2017 & 2025
Figure 2: APAC Remittance Software Market, Global Revenue (US$ Mn), 2016 & 2025
Figure 3: Remittance Software Market Segmentation
Figure 4: Remittance Software Market Segmentation
Figure 6: North America PEST Analysis
Figure 7: Europe PEST Analysis
Figure 8: APAC PEST Analysis
Figure 9: MEA PEST Analysis
Figure 10: SAM PEST Analysis
Figure 10: Remittance Software Market Impact Analysis of Driver and Restraints
Figure 11: Global Remittance Software Market
Figure 12: Global Remittance Software Market Breakdown By Software, 2017 & 2025 (%)
Figure 13: Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 14: Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 15: Global Remittance Software Market Breakdown By Deployment Type, 2017 & 2025 (%)
Figure 16: Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 17: Global Cloud Deployment Type Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 18: Global Remittance Software Market Breakdown By Application, 2017 & 2025 (%)
Figure 19: Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 20: Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 21: Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 22: Remittance Software Market, Global Breakdown by Regions, 2017 & 2025 (%)
Figure 23: North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 24: North America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%)
Figure 25: U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 26: Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 27: Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 28: North America Remittance Software Market Breakdown by Software, 2017 & 2025 (%)
Figure 29: North America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%)
Figure 30: North America Remittance Software Market Breakdown by Application, 2017 & 2025 (%)
Figure 31: Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 32: Europe Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%)
Figure 33: France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 34: Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 35: Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 36: Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 37: UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 38: Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 39: Europe Remittance Software Market Breakdown by Software, 2017 & 2025 (%)
Figure 40: Europe Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%)
Figure 41: Europe Remittance Software Market Breakdown by Application, 2017 & 2025 (%)
Figure 42: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 43: Asia Pacific Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%)
Figure 44: Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 45: China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 46: India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 47: Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 48: Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 49: Asia Pacific Remittance Software Market Breakdown by Software, 2017 & 2025 (%)
Figure 50: Asia Pacific Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%)
Figure 51: Asia Pacific Remittance Software Market Breakdown by Application, 2017 & 2025 (%)
Figure 52: Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 53: Middle East & Africa Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%)
Figure 54: Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 55: UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 56: South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 57: Middle East and Africa Remittance Software Market Breakdown by Software, 2017 & 2025 (%)
Figure 58: Middle East and Africa Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%)
Figure 59: Middle East and Africa Remittance Software Market Breakdown by Application, 2017 & 2025 (%)
Figure 60: South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 61: South America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%)
Figure 62: Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 63: South America Remittance Software Market Breakdown by Software, 2017 & 2025 (%)
Figure 64: South America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%)
Figure 65: South America Remittance Software Market Breakdown by Application, 2017 & 2025 (%)
Companies Mentioned
- Remit One Ltd.
- Remit Anywhere
- FinCode Ltd.
- MTS
- Girmiti Software Private Limited
- Grey Systems
- ControlBox Corp
- NextGen Systems UK Limited
- Fiserv, Inc.
- Daemon Software.
