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A15896 | Pages: 181 | Charts: 44 | Tables: 75 |
The Singapore remittance market volume was valued at $8,056.63 million in 2022 and is projected to reach $13,348.60 million by 2032, growing at a CAGR of 5.2% from 2023 to 2032. Furthermore, the Singapore remittance market value was valued at $528.04 million in 2022 and is projected to reach $836.76 million by 2032, growing at a CAGR of 3.7% from 2023 to 2032.
Remittance refers to the process of sending money from one place, often a foreign country, to another, typically to support family members or for personal financial needs. In Singapore, the remittance market has been steadily growing due to the presence of a large expatriate population and its status as a global financial hub. The scope for further growth in the remittance market in Singapore remains favorable, driven by continued economic development, international migration, and the need for cross-border financial transactions. In addition, advancements in digital banking and fintech services have facilitated easier and more efficient remittance options, contributing to the market's expansion.
Rise in cross-border transactions and move toward mobile banking and mobile-based payment solutions dominate payment trends in Singapore is expected to drive growth of the Singapore remittance market. In addition, rise in international commerce, migration, and changing economic trends in Singapore drives growth of the Singapore remittance market. In addition, growth in adoption of banking & financial sectors in Singapore fuels growth of the market.
However, rise in number of financial crimes and lack of awareness regarding digital remittance is expected to impede the market growth. On the contrary, technological innovations in the digital remittance industry in Singapore primarily to provide user-friendly apps and smarter ways to connect to domestic payment systems is expected to provide growth opportunities for the market.
On the basis of type, the outward remittance segment gained the highest Singapore remittance market share in 2022. This is attributed to the fact that the market is driven by the significant number of foreign workers and expatriates in Singapore who regularly send money back to their home countries. In addition, Singapore's robust financial infrastructure and ease of conducting international transactions make it convenient for individuals and businesses to send funds abroad, further boosting this segment's market share. On the other hand, the inward remittance segment is forecasted to be the fastest growing segment during the forecast period in the market. This growth can be attributed to Singapore's strong position as a global financial hub, attracting foreign investment and talent. As more international companies and professionals relocate to Singapore, there is an increased flow of funds into the country. In addition, government initiatives and policies aimed at facilitating cross-border transactions are expected to further accelerate the growth of the inward remittance segment.
The report focuses on growth prospects, restraints, and trends of the Singapore remittance market. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the Singapore remittance market share
The Singapore remittance market is segmented on the basis of type, channel, application, mode, and end use. By type, it is divided into inward remittance and outward remittance. By channel, it is segmented into banks, money transfer operators, and others. In terms of application, it is classified into consumption, savings, and investment. On the basis of mode, the market is segmented into Business-to-Business (B2B), Business-to-consumer (B2C), Consumer-to-Business (C2B), and Customer-to-Customer (C2C). By end user, it is divided into migrant labor workforce (blue collar workforce and white collar workforce), low-income households, small businesses, and others.
The report analyses the profiles of key players operating in the Singapore remittance market such as DBS Bank Ltd, Nium Pte. Ltd. (Instarem), JPMorgan Chase & Co., MoneyGram, Revolut Ltd, Continental Exchange Solutions, Inc. (Ria Financial Services Ltd.), SingX Pte Ltd., Wise Payments Limited (Transferwise Ltd), Western Union Holdings, Inc., and WorldRemit. These players have adopted various strategies to increase their market penetration and strengthen their position in the Singapore remittance industry.
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COVID-19 had a significant impact on the Singapore remittance market analysis, as many foreign workers in Singapore send money back to their home countries, but the pandemic led to job losses and reduced incomes, making it harder for them to send money home. In addition, lockdowns and travel restrictions slowed down remittance services, affecting the flow of money. On the other hand, digital remittance services witnessed a boost as people turned to online options for safety. Therefore, COVID-19 made it tougher for foreign workers to remit money, but it also accelerated the shift toward digital remittance solutions in the Singapore remittance market.
Rise in cross-border transactions and move toward mobile banking and mobile-based payment solutions dominated payment trends in Singapore remittance market, which is expected to drive growth of the market. In addition, the market is witnessing growth, owing to increase in foreign trade, migration, and shift in economic patterns across the country. In addition, new developments in cross-border payments are the prospect of making real-time international payments a reality. Furthermore, a number of banks are striving to deliver timely cross-border remittances and value-added services using a relationship-centric approach, which fuel growth of the market. For instance, in Singapore, smartphone use and the popularity of digital access points for remittances, such as alternative payment methods (APMs), have generated new expectations that incumbents are striving to satisfy. Thus, this factor propels growth of the Singapore remittance market size.
The increasing adoption of banking and financial services in Singapore plays a pivotal role in driving the growth of the Singapore remittance market. Singapore's status as a global financial hub has led to a rising number of bank accounts and financial service users. This growth in financial inclusion and sophistication has made it easier for individuals and businesses to access remittance services, leading to greater participation in both outward and inward remittances. Moreover, the use of digital banking and fintech solutions has streamlined remittance processes, making transactions more efficient and cost-effective. Therefore, the expanding adoption of banking and financial services in Singapore is a key driver behind the growing Singapore remittance market.
The rise in the number of financial crimes poses a significant restraint for the Singapore remittance market. Regulatory authorities in Singapore have implemented stringent anti-money laundering (AML) and counter-terrorism financing (CTF) measures to combat illicit financial activities. While these regulations are essential for maintaining the integrity of the financial system, they can create operational challenges for remittance service providers. Compliance with these rules requires increased due diligence, reporting, and monitoring, which can lead to higher operational costs. Therefore, the Singapore remittance may face a higher compliance burden and decreased profitability, potentially impacting its ability to offer competitive rates and services to customers.
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Key Market Segments
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Key Market Players
1.5.Research methodology
1.5.1.Secondary research
1.5.2.Primary research
1.5.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key Forces Shaping Singapore remittance market
3.3.Market dynamics
3.3.1.Drivers
3.3.1.1.Rise in cross-border transactions and mobile-based payment channels in Singapore
3.3.1.2.Reduced remittance cost & transfer time51
3.3.1.3.Growth in adoption of banking & financial services in Singapore
3.3.2.Restraints
3.3.2.1.Rise in number of financial crimes
3.3.2.2.Lack of awareness for digital remittance
3.3.3.Opportunities
3.3.3.1.Technological innovations in the digital remittance industry
3.3.3.2.Rise in Internet and mobile penetration in the country
3.4.COVID-19 impact analysis on Singapore remittance market
3.4.1.Impact on Singapore remittance market size
3.4.2.Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.4.3.Framework for market challenges faced by Singapore remittance providers
3.4.4.Economic impact on Singapore remittance providers
3.4.5.Key player strategies to tackle negative impact on the industry
3.4.6.Opportunity analysis for Singapore remittance providers
3.5.Key Regulations Analysis
3.6.Regulatory Guidelines
CHAPTER 4:SINGAPORE REMITTANCE MARKET, BY TYPE
4.1.Overview
4.2.Inward Remittance
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market volume and forecast
4.2.3.Market value and forecast
4.3.Outward Remittance
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market volume and forecast
4.3.3.Market value and forecast
4.3.4.Quantitative analysis on outward remittance, by country
4.3.5.Quantitative analysis on diasporas in Singapore, by country
4.3.6.Quantitative analysis on diasporas in Singapore, by migrant labor workforce
CHAPTER 5:SINGAPORE REMITTANCE MARKET, BY CHANNEL
5.1.Overview
5.2.Banks
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market volume and forecast
5.2.3.Market value and forecast
5.3.Money Transfer Operators
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market volume and forecast
5.3.3.Market value and forecast
5.4.Others
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market volume and forecast
5.4.3.Market value and forecast
CHAPTER 6:SINGAPORE REMITTANCE MARKET, BY APPLICATION
6.1.Overview
6.2.Consumption
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market volume and forecast
6.2.3.Market value and forecast
6.3.Saving
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market volume and forecast
6.3.3.Market value and forecast
6.4.Investment
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market volume and forecast
6.4.3.Market value and forecast
CHAPTER 7:SINGAPORE REMITTANCE MARKET, BY MODE
7.1.Overview
7.2.Business-to-Business (B2B)
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market volume and forecast
7.2.3.Market value and forecast
7.3.Business-to-Customer (B2C)
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market volume and forecast
7.3.3.Market value and forecast
7.4.Customer-to-Business (C2B)
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market volume and forecast
7.4.3.Market value and forecast
7.5.Customer-to-Customer (C2C)
7.5.1.Key market trends, growth factors and opportunities
7.5.2.Market volume and forecast
7.5.3.Market value and forecast
CHAPTER 8:SINGAPORE REMITTANCE MARKET, BY END USER
8.1.Overview
8.2.Migrant Labor Workforce
8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market volume and forecast
8.2.3.Market value and forecast
8.2.4.Market size and forecast, by migrant labor workforce type
8.2.4.1.Blue-collar Labor
8.2.4.2.Market volume and forecast
8.2.4.3.Market value and forecast
8.2.4.4.White-collar Labor
8.2.4.5.Market volume and forecast
8.2.4.6.Market value and forecast
8.3.Low-Income Households
8.3.1.Key market trends, growth factors and opportunities
8.3.2.Market volume and forecast
8.3.3.Market value and forecast
8.4.Small Businesses
8.4.1.Key market trends, growth factors and opportunities
8.4.2.Market volume and forecast
8.4.3.Market value and forecast
8.5.Others
8.5.1.Key market trends, growth factors and opportunities
8.5.2.Market volume and forecast
8.5.3.Market value and forecast
CHAPTER 9:COMPETITIVE LANDSCAPE
9.1.Introduction
9.1.1.Market player positioning, 2022
9.2.Competitive Dashboard
9.2.1.Top winning strategies
CHAPTER 10:COMPANY PROFILES
10.1.DBS BANK LTD
10.1.1.Company overview
10.1.2.Company snapshot
10.1.3.Operating business segments
10.1.4.Product portfolio
10.1.5.Business performance
10.1.1.Key strategic moves and developments
10.2.NIUM PTE. LTD. (INSTAREM)
10.2.1.Company overview
10.2.2.Company Snapshot
10.2.3.Product portfolio
10.2.4.Key strategic moves and developments
10.3.JPMORGAN CHASE & CO.
10.3.1.Company overview
10.3.2.Company snapshot
10.3.3.Operating business segments
10.3.4.Product portfolio
10.3.5.Business performance
10.4.MONEYGRAM
10.4.1.Company overview
10.4.2.Company snapshot
10.4.3.Product portfolio
10.4.4.Key strategic moves and developments
10.5.REVOLUT LTD
10.5.1.Company overview
10.5.2.Company snapshot
10.5.3.Product portfolio
10.5.4.Key strategic moves and developments
10.6.CONTINENTAL EXCHANGE SOLUTIONS, INC. (RIA FINANCIAL SERVICES LTD.)
10.6.1.Company overview
10.6.2.Company Snapshot
10.6.3.Operating business segments
10.6.4.Product portfolio
10.6.5.Business performance
10.6.6.Key strategic moves and developments
10.7.SINGX PTE LTD.
10.7.1.Company overview
10.7.2.Company Snapshot
10.7.3.Product portfolio
10.8.WISE PAYMENTS LIMITED (TRANSFERWISE LTD)
10.8.1.Company overview
10.8.2.Company Snapshot
10.8.3.Product portfolio
10.8.4.Business performance
10.8.5.Key strategic moves and developments
10.9.WESTERN UNION HOLDINGS, INC.
10.9.1.Company overview
10.9.2.Company Snapshot
10.9.3.Operating business segments
10.9.4.Product portfolio
10.9.5.Business performance
10.10.WORLDREMIT
10.10.1.Company overview
10.10.2.Company Snapshot
10.10.3.Product portfolio
10.10.4.Key strategic moves and developments
LIST OF TABLES
TABLE 01.SINGAPORE REMITTANCE MARKET VOLUME, BY TYPE, 2022–2032 ($MILLION)
TABLE 02.SINGAPORE REMITTANCE MARKET VALUE, BY TYPE, 2022–2032 ($MILLION)
TABLE 03.SINGAPORE REMITTANCE MARKET VOLUME FOR INWARD REMITTANCE, 2022–2032 ($MILLION)
TABLE 04.SINGAPORE REMITTANCE MARKET VALUE FOR INWARD REMITTANCE, 2022–2032 ($MILLION)
TABLE 05.SINGAPORE REMITTANCE MARKET VOLUME FOR OUTWARD REMITTANCE, 2022–2032 ($MILLION)
TABLE 06.SINGAPORE REMITTANCE MARKET VALUE FOR OUTWARD REMITTANCE, 2022–2032 ($MILLION)
TABLE 07.SINGAPORE OUTWARD REMITTANCE MARKET VOLUME, BY COUNTRY, 2022 ($MILLION)
TABLE 08.QUANTITATIVE ANALYSIS ON DIASPORAS IN SINGAPORE, BY COUNTRY, 2022
TABLE 09.QUANTITATIVE ANALYSIS ON DIASPORAS IN SINGAPORE, BY MIGRANT LABOR WORKFORCE,
2022 (%)
TABLE 10.SINGAPORE REMITTANCE MARKET VOLUME, BY CHANNEL, 2022–2032 ($MILLION)
TABLE 11.SINGAPORE REMITTANCE MARKET VALUE, BY CHANNEL, 2022–2032 ($MILLION)
TABLE 12.SINGAPORE REMITTANCE MARKET VOLUME FOR BANKS, 2022–2032 ($MILLION)
TABLE 13.SINGAPORE REMITTANCE MARKET VALUE FOR BANKS, 2022–2032 ($MILLION)
TABLE 14.SINGAPORE REMITTANCE MARKET VOLUME FOR MONEY TRANSFER OPERATORS, 2022–2032 ($MILLION)
TABLE 15.SINGAPORE REMITTANCE MARKET VALUE FOR MONEY TRANSFER OPERATORS, 2022–2032 ($MILLION)
TABLE 16.SINGAPORE REMITTANCE MARKET VOLUME FOR OTHERS, 2022–2032 ($MILLION)
TABLE 17.SINGAPORE REMITTANCE MARKET VALUE FOR OTHERS, 2022–2032 ($MILLION)
TABLE 18.SINGAPORE REMITTANCE MARKET VOLUME, BY APPLICATION, 2022–2032 ($MILLION)
TABLE 19.SINGAPORE REMITTANCE MARKET VALUE, BY APPLICATION, 2022–2032 ($MILLION)
TABLE 20.SINGAPORE REMITTANCE MARKET VOLUME FOR CONSUMPTION, 2022–2032 ($MILLION)
TABLE 21.SINGAPORE REMITTANCE MARKET VALUE FOR CONSUMPTION, 2022–2032 ($MILLION)
TABLE 22.SINGAPORE REMITTANCE MARKET VOLUME FOR SAVINGS, 2022–2032 ($MILLION)
TABLE 23.SINGAPORE REMITTANCE MARKET VALUE FOR SAVINGS, 2022–2032 ($MILLION)
TABLE 24.SINGAPORE REMITTANCE MARKET VOLUME FOR INVESTMENT, 2022–2032 ($MILLION)
TABLE 25.SINGAPORE REMITTANCE MARKET VALUE FOR INVESTMENT, 2022–2032 ($MILLION)
TABLE 26.SINGAPORE REMITTANCE MARKET VOLUME, BY MODE, 2022–2032 ($MILLION)
TABLE 27.SINGAPORE REMITTANCE MARKET VALUE, BY MODE, 2022–2032 ($MILLION)
TABLE 28.SINGAPORE REMITTANCE MARKET VOLUME FOR BUSINESS-TO-BUSINESS (B2B), 2022–2032 ($MILLION)
TABLE 29.SINGAPORE REMITTANCE MARKET VALUE FOR BUSINESS-TO-BUSINESS (B2B), 2022–2032 ($MILLION)
TABLE 30.SINGAPORE REMITTANCE MARKET VOLUME FOR BUSINESS-TO-CUSTOMER (B2C), 2022–2032 ($MILLION)
TABLE 31.SINGAPORE REMITTANCE MARKET VALUE FOR BUSINESS-TO-CUSTOMER (B2C), 2022–2032 ($MILLION)
TABLE 32.SINGAPORE REMITTANCE MARKET VOLUME FOR CUSTOMER-TO-BUSINESS (C2B), 2022–2032 ($MILLION)
TABLE 33.SINGAPORE REMITTANCE MARKET VALUE FOR CUSTOMER-TO-BUSINESS (C2B), 2022–2032 ($MILLION)
TABLE 34.SINGAPORE REMITTANCE MARKET VOLUME FOR CUSTOMER-TO-CUSTOMER (C2C), 2022–2032 ($MILLION)
TABLE 35.SINGAPORE REMITTANCE MARKET VALUE FOR CUSTOMER-TO-CUSTOMER (C2C), 2022–2032 ($MILLION)
TABLE 36.SINGAPORE REMITTANCE MARKET VOLUME, BY END USER, 2022–2032 ($MILLION)
TABLE 37.SINGAPORE REMITTANCE MARKET VALUE, BY END USER, 2022–2032 ($MILLION)
TABLE 38.SINGAPORE REMITTANCE MARKET VOLUME FOR MIGRANT LABOR WORKFORCE, 2022–2032 ($MILLION)
TABLE 39.SINGAPORE REMITTANCE MARKET VALUE FOR MIGRANT LABOR WORKFORCE, 2022–2032 ($MILLION)
TABLE 40.SINGAPORE REMITTANCE MARKET VOLUME, BY MIGRANT LABOR WORKFORCE TYPE, 2022–2032 ($MILLION)
TABLE 41.SINGAPORE REMITTANCE MARKET VALUE, BY MIGRANT LABOR WORKFORCE TYPE, 2022–2032 ($MILLION)
TABLE 42.SINGAPORE REMITTANCE MARKET VOLUME FOR BLUE-COLLAR LABOR 2022–2032 ($MILLION)
TABLE 43.SINGAPORE REMITTANCE MARKET VALUE FOR BLUE-COLLAR LABOR, 2022–2032 ($MILLION)
TABLE 44.SINGAPORE REMITTANCE MARKET VOLUME FOR WHITE-COLLAR LABOR 2022–2032 ($MILLION)
TABLE 45.SINGAPORE REMITTANCE MARKET VALUE FOR WHITE-COLLAR LABOR, 2022–2032 ($MILLION)
TABLE 46.SINGAPORE REMITTANCE MARKET VOLUME FOR LOW INCOME HOUSEHOLDS, 2022–2032 ($MILLION)
TABLE 47.SINGAPORE REMITTANCE MARKET VALUE FOR LOW INCOME HOUSEHOLDS, 2022–2032 ($MILLION)
TABLE 48.SINGAPORE REMITTANCE MARKET VOLUME FOR SMALL BUSINESSES, 2022–2032 ($MILLION)
TABLE 49.SINGAPORE REMITTANCE MARKET VALUE FOR SMALL BUSINESSES, 2022–2032 ($MILLION)
TABLE 50.SINGAPORE REMITTANCE MARKET VOLUME FOR OTHERS, 2022–2032 ($MILLION)
TABLE 51.SINGAPORE REMITTANCE MARKET VALUE FOR OTHERS, 2022–2032 ($MILLION)
TABLE 52.DBS BANK LTD: COMPANY SNAPSHOT
TABLE 53.DBS BANK LTD: OPERATING SEGMENTS
TABLE 54.DBS BANK LTD: PRODUCT PORTFOLIO
TABLE 55.NIUM PTE. LTD.: COMPANY SNAPSHOT
TABLE 56.NIUM PTE. LTD.: PRODUCT PORTFOLIO
TABLE 57.JPMORGAN CHASE & CO.: COMPANY SNAPSHOT
TABLE 58.JPMORGAN CHASE & CO.: OPERATING SEGMENTS
TABLE 59.JPMORGAN CHASE & CO.: PRODUCT PORTFOLIO
TABLE 60.MONEYGRAM: COMPANY SNAPSHOT
TABLE 61.MONEYGRAM: PRODUCT PORTFOLIO
TABLE 62.REVOLUT LTD: COMPANY SNAPSHOT
TABLE 63.REVOLUT LTD: PRODUCT PORTFOLIO
TABLE 64.CONTINENTAL EXCHANGE SOLUTIONS, INC.: COMPANY SNAPSHOT
TABLE 65.CONTINENTAL EXCHANGE SOLUTIONS, INC.: OPERATING SEGMENTS
TABLE 66.CONTINENTAL EXCHANGE SOLUTIONS, INC.: PRODUCT PORTFOLIO
TABLE 67.SINGX PTE LTD.: COMPANY SNAPSHOT
TABLE 68.SINGX PTE LTD.: PRODUCT PORTFOLIO
TABLE 69.WISE PAYMENTS LIMITED: COMPANY SNAPSHOT
TABLE 70.WISE PAYMENTS LIMITED: PRODUCT PORTFOLIO
TABLE 71.WESTERN UNION HOLDINGS, INC.: COMPANY SNAPSHOT
TABLE 72.WESTERN UNION HOLDINGS, INC.: OPERATING SEGMENTS
TABLE 73.WESTERN UNION HOLDINGS, INC.: PRODUCT PORTFOLIO
TABLE 74.WORLDREMIT: COMPANY SNAPSHOT
TABLE 75.WORLDREMIT: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.SINGAPORE REMITTANCE MARKET VOLUME, 2022–2032
FIGURE 03.SINGAPORE REMITTANCE MARKET VALUE, 2022–2032
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.LOW-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 07.LOW-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 08.LOW-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 09.LOW-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 10.MODERATE-TO-HIGH COMPETITIVE RIVALRY
FIGURE 11.MARKET DYNAMICS: SINGAPORE REMITTANCE MARKET
FIGURE 12.SINGAPORE REMITTANCE MARKET VOLUME, BY TYPE, 2022–2032
FIGURE 13.SINGAPORE REMITTANCE MARKET VALUE, BY TYPE, 2022–2032
FIGURE 14.SINGAPORE REMITTANCE MARKET VOLUME, BY CHANNEL, 2022–2032
FIGURE 15.SINGAPORE REMITTANCE MARKET VALUE, BY CHANNEL, 2022–2032
FIGURE 16.SINGAPORE REMITTANCE MARKET VOLUME, BY APPLICATION, 2022–2032
FIGURE 17.SINGAPORE REMITTANCE MARKET VALUE, BY APPLICATION, 2022–2032
FIGURE 18.SINGAPORE REMITTANCE MARKET VOLUME, BY MODE, 2022–2032
FIGURE 19.SINGAPORE REMITTANCE MARKET VALUE, BY MODE, 2022–2032
FIGURE 20.SINGAPORE REMITTANCE MARKET VOLUME, BY END USER, 2022–2032
FIGURE 21.SINGAPORE REMITTANCE MARKET VALUE, BY END USER, 2022–2032
FIGURE 22.SINGAPORE REMITTANCE MARKET VOLUME, BY MIGRANT LABOR WORKFORCE TYPE, 2022–2032 ($MILLION)
FIGURE 23.SINGAPORE REMITTANCE MARKET VALUE, BY MIGRANT LABOR WORKFORCE TYPE, 2022–2032 ($MILLION)
FIGURE 24.MARKET PLAYER POSITIONING, 2022
FIGURE 25.COMPETITIVE DASHBOARD
FIGURE 26.COMPETITIVE DASHBOARD
FIGURE 27.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 28.TOP WINNING STRATEGIES, BY YEAR, 2020–2023
FIGURE 29.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2020–2023
FIGURE 30.TOP WINNING STRATEGIES, BY COMPANY, 2020–2023
FIGURE 31.DBS BANK LTD: NET INCOME, 2020–2022 ($MILLION)
FIGURE 32.DBS BANK LTD: NET INCOME SHARE BY SEGMENT, 2022 (%)
FIGURE 33.DBS BANK LTD: NET INCOME SHARE BY REGION, 2022 (%)
FIGURE 34.JPMORGAN CHASE & CO.: NET REVENUE, 2020–2022 ($MILLION)
FIGURE 35.JPMORGAN CHASE & CO.: NET REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 36.JPMORGAN CHASE & CO.: NET REVENUE SHARE BY REGION, 2022 (%)
FIGURE 37.CONTINENTAL EXCHANGE SOLUTIONS, INC.: NET REVENUE, 2020–2022 ($MILLION)
FIGURE 38.CONTINENTAL EXCHANGE SOLUTIONS, INC.: NET REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 39.CONTINENTAL EXCHANGE SOLUTIONS, INC.: NET REVENUE SHARE BY REGION, 2022 (%)
FIGURE 40.WISE PAYMENTS LIMITED: NET REVENUE, 2020–2022 ($MILLION)
FIGURE 41.WISE PAYMENTS LIMITED: NET REVENUE SHARE BY REGION, 2022 (%)
FIGURE 42.WESTERN UNION HOLDINGS, INC.: NET REVENUE, 2020–2022 ($MILLION)
FIGURE 43.WESTERN UNION HOLDINGS, INC.: NET REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 44.WESTERN UNION HOLDINGS, INC.: NET REVENUE SHARE BY REGION, 2022 (%)