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Digital Remittance Market Size, Share & Trends Analysis Report By Type (Inward Digital Remittance, Outward Digital Remittance), By Channel, By End Use, By Region, And Segment Forecasts, 2025 - 2030- Product Image
Digital Remittance Market Size, Share & Trends Analysis Report By Type (Inward Digital Remittance, Outward Digital Remittance), By Channel, By End Use, By Region, And Segment Forecasts, 2025 - 2030- Product Image
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Digital Remittance Market Size, Share & Trends Analysis Report By Type (Inward Digital Remittance, Outward Digital Remittance), By Channel, By End Use, By Region, And Segment Forecasts, 2025 - 2030

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  • 130 Pages
  • January 2025
  • Region: Global
  • Grand View Research
  • ID: 5415613
Description Jump to:
The global digital remittance market size is expected to reach USD 60.05 billion by 2030. It is expected to expand at a CAGR of 16.7% from 2025 to 2030. Developments in the digital space are rapidly changing the dynamics of the digital remittance industry. Digitization can bring several benefits, including improved efficiency, convenience, transparency, access, and reduced transfer prices.

Evolving customer demands with respect to cross-border remittances are expected to accentuate the market growth over the forecast period. Digital money transfer services are witnessing increased acceptance among customers in low- and medium-income economies. Furthermore, increasing incomes and rapid urbanization are driving the demand for digital remittance services.

Cross-border remittances bring many economic benefits, widen financial inclusion, and boost economic development. Digital remittances play an enormous and vital role in the lives of migrants and their families. The money received in migrant households in migrants’ countries of origin represents around 60% of household income, which is normally spent on essential items such as medicines, education, food, and housing expenses.

The COVID-19 pandemic is anticipated to favorably impact the market growth. The pandemic has proved to be a significant growth catalyst for the digitization of remittance services. Various factors such as the closure of money transfer agent locations due to national lockdowns and customers turning to digital solutions out of necessity further accentuated the market growth.

Digital Remittance Market Report Highlights

  • By type, the inward digital remittance segment is anticipated to witness significant growth over the forecast period owing to the increasing usage of mobile payment applications for money transfers in developed countries. Moreover, digital remittance service providers focus on offering fast and efficient inward fund transfer services to users, thereby creating growth opportunities for the segment
  • Numerous banks across the globe are focusing on integrating technologies into their remittance platforms to provide faster transfer time. Moreover, banks are increasingly adopting digital innovation to achieve a competitive advantage over competitors. Moreover, the growing shift toward digitization in the cross-border money transfer industry is expected to drive the banks channel segment over the forecast period.Amid the COVID-19 pandemic, banks began allowing workers to seek real-time access to their earnings, thereby allowing them to meet the immediate needs of their families and themselves
  • Migrant workers across the globe are making use of digital remittance services owing to their numerous benefits, such as improved remittance speed and reduced cost. This is expected to foster the growth of the personal end-use segment over the forecast period
  • In the Asia Pacific region, businesses are increasingly engaging with their overseas counterparts for leisure, business, medical, entertainment, and educational activities, which involve the transfer of money overseas. Moreover, an increase in cross-border transactions and a move toward cashless payment solutions are expected to accentuate the regional market growth over the forecast period

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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Digital Remittance Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. Digital Remittance Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic landscape
3.3.2.3. Social landscape
3.3.2.4. Technological landscape
3.3.2.5. Environmental landscape
3.3.2.6. Legal landscape
Chapter 4. Digital Remittance Market: Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Digital Remittance Market: Type Movement Analysis, USD Million, 2024 & 2030
4.3. Inward Digital Remittance
4.3.1. Inward Digital Remittance Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Outward Digital Remittance
4.4.1. Outward Digital Remittance Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Digital Remittance Market: Channel Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Digital Remittance Market: Channel Movement Analysis, USD Million, 2024 & 2030
5.3. Banks
5.3.1. Banks Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Money Transfer Operators
5.4.1. Money Transfer Operators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Online Platforms
5.5.1. Online Platforms Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.6. Others
5.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Digital Remittance Market: End Use Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Digital Remittance Market: End Use Movement Analysis, USD Million, 2024 & 2030
6.3. Migrant Labor Workforce
6.3.1. Migrant Labor Workforce Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Personal
6.4.1. Personal Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Small Businesses
6.5.1. Small Businesses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. Others
6.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Digital Remittance Market: Regional Estimates & Trend Analysis
7.1. Digital Remittance Market Share, By Region, 2024 & 2030, USD Million
7.2. North America
7.2.1. North America Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.2.2. U.S.
7.2.2.1. U.S. Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.2.3. Canada
7.2.3.1. Canada Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.2.4. Mexico
7.2.4.1. Mexico Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3. Europe
7.3.1. Europe Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3.2. UK
7.3.2.1. UK Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3.3. Germany
7.3.3.1. Germany Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3.4. France
7.3.4.1. France Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Asia Pacific
7.4.1. Asia Pacific Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4.2. China
7.4.2.1. China Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4.3. Japan
7.4.3.1. Japan Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4.4. India
7.4.4.1. India Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4.5. South Korea
7.4.5.1. South Korea Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4.6. Australia
7.4.6.1. Australia Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Latin America
7.5.1. Latin America Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5.2. Brazil
7.5.2.1. Brazil Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Middle East and Africa
7.6.1. Middle East and Africa Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD MILLION)
7.6.2. UAE
7.6.2.1. UAE Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6.3. KSA
7.6.3.1. KSA Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6.4. South Africa
7.6.4.1. South Africa Digital Remittance Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Company Market Positioning
8.3. Company Heat Map Analysis
8.4. Company Profiles/Listing
8.4.1. Azimo Limited
8.4.1.1. Participant’s Overview
8.4.1.2. Financial Performance
8.4.1.3. Product Benchmarking
8.4.1.4. Strategic Initiatives
8.4.2. Digital Wallet Corporation
8.4.2.1. Participant’s Overview
8.4.2.2. Financial Performance
8.4.2.3. Product Benchmarking
8.4.2.4. Strategic Initiatives
8.4.3. InstaReM Pvt. Ltd.
8.4.3.1. Participant’s Overview
8.4.3.2. Financial Performance
8.4.3.3. Product Benchmarking
8.4.3.4. Strategic Initiatives
8.4.4. MoneyGram
8.4.4.1. Participant’s Overview
8.4.4.2. Financial Performance
8.4.4.3. Product Benchmarking
8.4.4.4. Strategic Initiatives
8.4.5. PayPal Holdings, Inc.
8.4.5.1. Participant’s Overview
8.4.5.2. Financial Performance
8.4.5.3. Product Benchmarking
8.4.5.4. Strategic Initiatives
8.4.6. Ria Financial Services Ltd.
8.4.6.1. Participant’s Overview
8.4.6.2. Financial Performance
8.4.6.3. Product Benchmarking
8.4.6.4. Strategic Initiatives
8.4.7. TransferGo Ltd.
8.4.7.1. Participant’s Overview
8.4.7.2. Financial Performance
8.4.7.3. Product Benchmarking
8.4.7.4. Strategic Initiatives
8.4.8. TransferWise Ltd.
8.4.8.1. Participant’s Overview
8.4.8.2. Financial Performance
8.4.8.3. Product Benchmarking
8.4.8.4. Strategic Initiatives
8.4.9. Western Union Holdings, Inc.
8.4.9.1. Participant’s Overview
8.4.9.2. Financial Performance
8.4.9.3. Product Benchmarking
8.4.9.4. Strategic Initiatives
8.4.10. WorldRemit Ltd.
8.4.10.1. Participant’s Overview
8.4.10.2. Financial Performance
8.4.10.3. Product Benchmarking
8.4.10.4. Strategic Initiatives
List of Tables
Table 1. Global digital remittance market size estimates & forecasts, 2018 - 2030 (USD Million)
Table 2. Global digital remittance market, by region, 2018 - 2030 (USD Million)
Table 3. Global digital remittance market, by type, 2018 - 2030 (USD Million)
Table 4. Global digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 5. Global digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 6. Inward digital remittance market, by region, 2018 - 2030 (USD Million)
Table 7. Outward digital remittance market, by region, 2018 - 2030 (USD Million)
Table 8. Banks market, by region, 2018 - 2030 (USD Million)
Table 9. Money transfer operators’ market, by region, 2018 - 2030 (USD Million)
Table 10. Online platforms market, by region, 2018 - 2030 (USD Million)
Table 11. Others market, by region, 2018 - 2030 (USD Million)
Table 12. Migrant labor workforce market, by region, 2018 - 2030 (USD Million)
Table 13. Personal market, by region, 2018 - 2030 (USD Million)
Table 14. Small businesses market, by region, 2018 - 2030 (USD Million)
Table 15. Others market, by region, 2018 - 2030 (USD Million)
Table 16. North America digital remittance market, by type, 2018 - 2030 (USD Million)
Table 17. North America digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 18. North America digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 19. U.S. digital remittance market, by type, 2018 - 2030 (USD Million)
Table 20. U.S. digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 21. U.S. digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 22. Canada digital remittance market, by type, 2018 - 2030 (USD Million)
Table 23. Canada digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 24. Canada digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 25. Mexico digital remittance market, by type, 2018 - 2030 (USD Million)
Table 26. Mexico digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 27. Mexico digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 28. Europe digital remittance market, by type, 2018 - 2030 (USD Million)
Table 29. Europe digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 30. Europe digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 31. UK digital remittance market, by type, 2018 - 2030 (USD Million)
Table 32. UK digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 33. UK digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 34. Germany digital remittance market, by type, 2018 - 2030 (USD Million)
Table 35. Germany digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 36. Germany digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 37. France digital remittance market, by type, 2018 - 2030 (USD Million)
Table 38. France digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 39. France digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 40. Asia Pacific digital remittance market, by type, 2018 - 2030 (USD Million)
Table 41. Asia Pacific digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 42. Asia Pacific digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 43. China digital remittance market, by type, 2018 - 2030 (USD Million)
Table 44. China digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 45. China digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 46. India digital remittance market, by type, 2018 - 2030 (USD Million)
Table 47. India digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 48. India digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 49. Japan digital remittance market, by type, 2018 - 2030 (USD Million)
Table 50. Japan digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 51. Japan digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 52. Australia digital remittance market, by type, 2018 - 2030 (USD Million)
Table 53. Australia digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 54. Australia digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 55. South Korea digital remittance market, by type, 2018 - 2030 (USD Million)
Table 56. South Korea digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 57. South Korea digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 58. Latin America digital remittance market, by type, 2018 - 2030 (USD Million)
Table 59. Latin America digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 60. Latin America digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 61. Brazil digital remittance market, by type, 2018 - 2030 (USD Million)
Table 62. Brazil digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 63. Brazil digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 64. MEA digital remittance market, by type, 2018 - 2030 (USD Million)
Table 65. MEA digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 66. MEA digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 67. UAE digital remittance market, by type, 2018 - 2030 (USD Million)
Table 68. UAE digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 69. UAE digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 70. KSA digital remittance market, by type, 2018 - 2030 (USD Million)
Table 71. KSA digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 72. KSA digital remittance market, by end use, 2018 - 2030 (USD Million)
Table 73. South Africa digital remittance market, by type, 2018 - 2030 (USD Million)
Table 74. South Africa digital remittance market, by channel, 2018 - 2030 (USD Million)
Table 75. South Africa digital remittance market, by end use, 2018 - 2030 (USD Million)
List of Figures
Fig 1. Digital remittance market segmentation
Fig 2. Market research process
Fig 3. Information procurement
Fig 4. Primary research pattern
Fig 5. Market research approaches
Fig 6. Value chain-based sizing & forecasting
Fig 7. Parent market analysis
Fig 8. Market formulation & validation
Fig 9. Digital remittance market snapshot
Fig 10. Digital remittance market segment snapshot
Fig 11. Digital remittance market competitive landscape snapshot
Fig 12. Market research process
Fig 13. Market driver relevance analysis (Current & future impact)
Fig 14. Market restraint relevance analysis (Current & future impact)
Fig 15. Digital remittance market, type outlook key takeaways (USD Million)
Fig 16. Digital remittance market type movement analysis (USD Million), 2024 & 2030
Fig 17. Inward digital remittance market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 18. Outward digital remittance market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 19. Digital remittance market: Channel outlook key takeaways (USD Million)
Fig 20. Digital remittance market: Channel movement analysis (USD Million), 2024 & 2030
Fig 21. Banks market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 22. Money transfer operators market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 23. Online platforms market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 24. Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 25. Digital remittance market: End Use outlook key takeaways (USD Million)
Fig 26. Digital remittance market: End Use movement analysis (USD Million), 2024 & 2030
Fig 27. Retail & e-commerce market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 28. Migrant labor workforce market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 29. Personal market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 30. Small businesses market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 31. Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig 32. Regional marketplace: Key takeaways
Fig 33. Digital remittance market: Regional outlook, 2024 & 2030, USD Million
Fig 34. North America digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 35. U.S. digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 36. Canada digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 37. Mexico digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 38. Europe digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 39. UK digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 40. Germany digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 41. France digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 42. Asia Pacific digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 43. Japan digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 44. China digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 45. India digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 46. Australia digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 47. South Korea digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 48. Latin America digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 49. Brazil digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 50. MEA digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 51. KSA digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 52. UAE digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 53. South Africa digital remittance market estimates and forecasts, 2018 - 2030 (USD Million)
Fig 54. Strategy framework
Fig 55. Company Categorization

Companies Mentioned

  • Azimo Limited
  • Digital Wallet Corporation
  • InstaReM Pvt. Ltd.
  • MoneyGram
  • PayPal Holdings, Inc.
  • Ria Financial Services Ltd.
  • TransferGo Ltd.
  • TransferWise Ltd.
  • Western Union Holdings, Inc.
  • WorldRemit Ltd.

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