Digital Remittance Market Size, Share, Growth, Trends, and Forecast 2030

Digital Remittance Market

Digital Remittance Market by Remittance Type (Inward and Outward), by Remittance Channel (Banks, Money Transfer Operators, Online Platforms, and Others), and by End-User (Migrant Labor Workforce, Businesses, and Individual/Personal): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Category: Technology & Media Report Format : PDF Pages: 145 Report Code: ZMR-4022 Published Date: Apr-2019 Status : Published
Market Size in 2018 Market Forecast in 2025 CAGR (in %) Base Year
USD 1.93 Billion USD 8.61 Billion 23.8% 2018

Global Digital Remittance Market Size

The global digital remittance market size is expected to reach approximately USD 8.61 billion by 2025, CAGR of slightly above 23.8% between 2019 and 2025. Digital remittance is interconnected with the banking systems in almost every country, where funds are securely transferred and received throughout the process.

The report covers a forecast and an analysis of digital remittance on a global and regional level. The study provides historical data for 2016, 2017, and 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints of digital remittance along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in digital remittance on a global level.

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This report offers a comprehensive analysis of global digital remittance along with market trends, drivers, and restraints of digital remittance. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Digital Remittance Market Report Scope:

Report Attributes Report Details
Report Name Digital Remittance Market Research Report
Market Size in 2019 USD xx Billion
Market Forecast in 2025 USD 8.61 Billion
Compound Annual Growth Rate CAGR of 23.8%
Number of Pages 110
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered InstaReM, Flywire, Western Union (WU), Ria Financial Outward Remittance, SingX Pte Ltd., WorldRemit Ltd., Remitly Inc., Azimo Limited
Segments Covered By Remittance Type, By Remittance Channel, By End-User And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization


Global Digital Remittance Market Segmentation

The global digital remittance market is segmented on the basis of remittance type, remittance channel, end-user, and region. Based on the remittance type, the market is categorized into inward and outward remittance. The remittance channel segment includes banks, money transfer operators, online platforms, and others. By end-user, the market includes migrant labor workforce, businesses, and individuals/personnel. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into major countries, such as the U.S., Canada, Mexico, UK, France, Germany, China, India, Japan, and Brazil.

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Key Market Players & Competitive Landscape

Some key participants of the global digital remittance market include

  • InstaReM
  • Flywire
  • Western Union (WU)
  • Ria Financial Outward Remittance
  • SingX Pte Ltd.
  • WorldRemit Ltd.
  • Remitly, Inc.
  • Azimo Limited
  • TransferWise Ltd.
  • Ripple
  • MoneyGram
  • TNG Wallet.

This report segments the global digital remittance market as follows:

Digital Remittance Market: Remittance Type Analysis

  • Inward Remittance
  • Outward Remittance

Digital Remittance Market: Remittance Channel Analysis

  • Banks
  • Money Transfer Operators
  • Online Inward Remittances
  • Others

Digital Remittance Market: End-User Analysis

  • Migrant Labor Workforce
  • Businesses
  • Individual/Personal

Digital Remittance Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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