Digital Remittance Market
Digital Remittance Market Study by Banks, Money Transfer Operators, and Online Platforms for Migrant Labor Workforce, Personal, and Small Businesses from 2024 to 2034
Analysis of Digital Remittance Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Digital Remittance Market Outlook (2024 to 2034)
Total revenue from the global digital remittance market is forecast at US$ 23.4 billion in 2024. The market has been projected to rise swiftly at a CAGR of 13.5% and reach a value of US$ 83.2 billion by the end of 2034.
Digital remittance services gained more importance during the COVID-19 pandemic. Restrictions on travel and public movement led to a reduced frequency of customer visits to banks and other financial institutions for remitting money. People began to increasingly rely on digital payment methods to conduct various transactions.
An increasing number of cross-border transactions and the growing adoption of mobile-based payment channels are expected to boost the digital remittance market growth over the forecast period. Migrant workers widely use digital remittance services to transfer funds to their families.
Money transfer operators are regularly able to provide lower transfer costs than banks. Moreover, these money transfer companies offer the same level of reliability and security as banks. The speed of the money transaction is one of the significant benefits offered by money transfer operators. Money transfers can be initiated immediately and processed within a day or two. The introduction of digital-first money transfer operators and the rapid introduction of funding and digital initiation capabilities from established money transfer operators are expected to drive the demand for digital remittance services during the forecast period.
Online platforms are expected to register high growth over the forecast period. Online money transfer platforms efficiently manage transfers of funds between organizations as well as organizations and their customers. These platforms allow users to have access to money transactions directly and execute the fund transfer process more easily.
Several online money transfer platforms are focusing on offering user-friendly services to their clients. These platforms are helping clients navigate their sites easily. Furthermore, the increasing adoption of digital wallets is expected to accentuate the growth of the online money transfer service market. Digital wallets enable customers to directly track their funds from their digital wallet application.
- The North American digital remittance market size is calculated at US$ 5.9 billion in 2024.
- East Asia is projected to account for 26% of the global digital remittance market share by 2034.
| Report Attribute | Detail |
|---|---|
| Digital Remittance Market Size (2024E) | US$ 23.4 Billion |
| Forecasted Market Value (2034F) | US$ 83.2 Billion |
| Global Market Growth Rate (2024 to 2034) | 13.5% CAGR |
| South Korea Market Value (2034F) | US$ 5 Billion |
| Inward Digital Remittance Demand Growth (2024 to 2034) | 14.2% CAGR |
| Key Companies Profiled | Azimo Limited; WorldRemit Ltd.; Remitly; InstaReM Pvt. Ltd.; MoneyGram; Paytm; OFX; Digital Wallet Corporation; PayPal Holdings, Inc.; Ria Financial Services Ltd.; Pangea Money Transfer; OrbitRemit; TransferGo Ltd.; Western Union Holdings Inc.; CurrencyFair; Remitbee; Transfast. |
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Why are Digital Remittance Platforms Gaining Widespread Popularity?
“Proliferation of Digital Payment Platforms Increasing Profits of Digital Remittance Service Providers”
The proliferation of the digital platform for remittance is expected to encourage customers to move toward online transactions. Moreover, the rising penetration of mobile devices across the globe is encouraging the adoption of digital technologies in remittance services and cross-border payments.
Customers across the globe are also shifting toward digital remittance services as they help reduce the money transfer time and remittance costs. Moreover, digital remittance services offer high privacy and protection for consumers’ money.
Endless chains of mediators, hidden charges, and paperwork involved in money transfers made the process costly and arduous. However, the adoption of digital remittance services is helping businesses and customers enjoy more affordable, faster, and value-added money transfer services. The costs involved in transferring funds are not too high due to the healthier competition between market players. The rising popularity of digital remittance services among low-wage migrant workers, who use these services to send money to their families, is compelling several governing bodies to pay attention to and regulate the digital remittance market.
Foreign remittances play an important role in the economic development of emerging markets. Due to this, authorized regulators control and monitor money transfer fees to encourage customers to continue using digital remittance services and effectively contribute to their home country’s economic growth.
What is Hampering Adoption of Digital Remittance Technologies?
“Lack of Awareness in Some Regions and Certain Cyber Security Concerns”
Ease of digital payments is set to offer high-growth opportunities for the digital remittance service providers. However, the lack of awareness about digital remittance services and fluctuating remittance prices are expected to hinder the overall market growth to some extent. Moreover, security hindrances such as terrorist financing and money laundering could negatively impact the growth prospects of the digital remittance market over the forecast period.
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Start-up Ecosystem
- KrillPay is an Untied States Based start-up that offers a mobile-based payment platform for sending money anywhere across the globe. The company’s platform uses blockchain technology to ensure safe and secure fund transfer. Customers can link their bank accounts directly to KrillPay wallets for instant fund transfers. An additional level of security is also offered through biometric authentication.
- A Brazilian start-up Emigro offers digital wallet system for instant fund transfer. Travellers, international students, or digital nomads can make use of this platform for easy and secure digital payments in Brazil.
- Based in Qatar SkipCash is offering a secure digital payment solution to facilitate an easy business transaction experience. The company’s platform provides payment functionalities such as payment links, QR codes, payment gateway, and a tap-to-phone feature.
Country-wise Analysis
What is the Demand Outlook for Digital Remittance Solutions in the United States?
“Country Benefits from Strong Presence of Fintech Companies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 2.6 Billion |
| Growth Rate (2024 to 2034) | 13.3% CAGR |
| Projected Value (2034F) | US$ 9.1 Billion |
The United States is home to prominent financial service and communication companies, such as Continental Exchange Solutions, Inc., Western Union Holdings, Inc., and MoneyGram. Majority of people migrate to the United States in search of better education and job opportunities as well as for business purposes.
The rising number of immigrants in the country is expected to create high-growth opportunities for the digital remittance service providers. Furthermore, the notable digital remittance market trend of faster money transfer is driving the high demand for advanced payment applications.
What is Boosting Adoption of Digital Remittance Solutions in South Korea?
“Rising Need for Instant Fund Transfer Driving Use of Digital Transaction Monitoring and Management Solutions”
| Attribute | South Korea |
|---|---|
| Market Value (2024E) | US$ 1.2 Billion |
| Growth Rate (2024 to 2034) | 15.4 % CAGR |
| Projected Value (2034F) | US$ 5 Billion |
South Korea is emerging as the fastest-growing market in the East Asia region. The majority of citizens in South Korea transfer funds through digital remittance platforms yearly to colleagues business partners and families in foreign countries. An increase in the adoption of online banking and financial services in the country is expected to propel the demand for digital remittance services in South Korea. Koreans growing focus on the adoption of mobile banking, cashless payments, and mobile-based payment solutions is also influencing the digital remittance market growth.
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Category-wise Analysis
Who is the Key End User of Digital Remittance Platforms?
“Digital Remittance Solutions Exhibiting High Personal Use”
| Attribute | Personal |
|---|---|
| Segment Value (2024E) | US$ 9.8 Billion |
| Growth Rate (2024 to 2034) | 12.4% CAGR |
| Projected Value (2034F) | US$ 31.6 Billion |
Personal digital remittance services are expected to lead the market in 2024 by capturing a share of 42% of global revenue. New products and services are being widely developed to facilitate convenient usage of financial customer accounts. The increasing global migration is expected to drive the adoption of digital remittance services by personnel to send money to their home country.
Growing smartphone adoption and internet penetration across the globe are anticipated to propel the personal use of digital fund transfer platforms during the forecast period. Innovative solutions are already beginning to change the landscape of remittance services by increasing convenience and reducing costs for senders of remittances and their families.
The use of digital remittance platforms by the migrant labor workforce segment is also expected to witness significant growth over the forecast period. The digital remittance service helps the migrant labor workforce to compare fund transfer costs and effectively locate support organizations. Moreover, this service is making it easier and more affordable for migrant workers to send money home. Integration of AI and automation in banking and cross-border payment transactions are further driving the digital remittance market share.
Which Type of Digital Remittance Accounts for Higher Revenue Generation?
“Outward Digital Remittance Services Are Popular Due to High Number of International Transactions”
| Attribute | Outward Digital Remittance Services |
|---|---|
| Segment Value (2024E) | US$ 12.9 Billion |
| Growth Rate (2024 to 2034) | 12.9% CAGR |
| Projected Value (2034F) | US$ 43.3 Billion |
People living in other countries are sending money home to support their families. Financial institutions and banks are helping these people send money home quickly and safely. International banks and financial institutions are focusing on charging low fees and increasing their customer network. International outward remittances are done on a safe banking network, thereby limiting the chances of financial harm and fraud to both the sender and the recipient.
Furthermore, the increasing adoption of mobile payment technologies for money transfer among the migrants is anticipated to boost the demand for inward digital remittance services. Numerous financial institutions and banks across the globe are focusing on adopting real-time banking technologies to leverage Immediate Payment Service (IMPS).
This technology enables banks to offer services to both non-resident and resident customers of the banks. Migrant workers are focusing on using wire transfer services for inward remittances as these services are considered the safest, fastest, and most popular modes of fund transfer.
Competitive Landscape
Key players in the digital remittance industry are adopting tactics such as product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
- February 2024 witnessed the acquisition of International Money Transfer Service, Company of Seven-Eleven Group Japan by Digital Wallet Corporation.
- In August 2021, WorldRemit Ltd. launched its money transfer services in Malaysia, allowing WorldRemit users to send money from Malaysia, in addition to 50 other countries, including the United States and the United Kingdom to more than 130 destinations. Based on their location, users can choose from numerous payout methods for the recipient, including payments to mobile wallets, bank deposits, mobile airtime top-ups, and cash pick-ups.
Fact.MR provides detailed information about the price points of key providers of digital remittance services positioned across the world, sales growth, production capacity, and speculative technological expansion in the recently updated market report.
Key Segments of Digital Remittance Market Research
-
By Type :
- Inward
- Outward
-
By Channel :
- Banks
- Money Transfer Operators
- Online Platforms
-
By End Use :
- Migrant Labor Workforce
- Personal
- Small Businesses
- Others
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
- 6.1. Type
- 6.2. Channel
- 6.3. End Use
- 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Type
- 7.1. Inward
- 7.2. Outward
- 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Channel
- 8.1. Banks
- 8.2. Money Transfer Operators
- 8.3. Online Platforms
- 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
- 9.1. Migrant Labor Workforce
- 9.2. Personal
- 9.3. Small Businesses
- 9.4. Others
- 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. East Asia
- 10.6. South Asia & Pacific
- 10.7. Middle East & Africa
- 11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 16. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 18. Sales Forecast 2024 to 2034 by Type, Channel, End Use, and Region for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Azimo Limited
- 20.2. WorldRemit Ltd.
- 20.3. Remitly
- 20.4. InstaReM Pvt. Ltd.
- 20.5. MoneyGram
- 20.6. Paytm
- 20.7. OFX
- 20.8. Digital Wallet Corporation
- 20.9. PayPal Holdings, Inc.
- 20.10. Ria Financial Services Ltd.
- 20.11. Pangea Money Transfer
- 20.12. OrbitRemit
- 20.13. TransferGo Ltd.
- 20.14. Western Union Holdings Inc.
- 20.15. CurrencyFair
- 20.16. Remitbee
- 20.17. Transfast
- 21. Assumptions and Acronyms Typed
- 22. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 02: Global Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 04: Global Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 05: Global Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 07: Global Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 08: Global Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 10: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023
Table 11: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 13: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 14: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 16: North America Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 17: North America Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 19: North America Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 20: North America Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 22: North America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 23: North America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 25: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 26: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 28: Latin America Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 29: Latin America Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 30: Latin America Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 31: Latin America Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 32: Latin America Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 34: Latin America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 35: Latin America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 37: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 38: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 39: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 40: Western Europe Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 41: Western Europe Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 42: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 43: Western Europe Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 44: Western Europe Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 45: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 46: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 47: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 48: Western Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 49: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 50: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 51: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 52: Eastern Europe Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 53: Eastern Europe Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 54: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 55: Eastern Europe Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 56: Eastern Europe Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 57: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 58: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 59: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 60: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 61: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 62: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 63: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 64: East Asia Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 65: East Asia Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 66: East Asia Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 67: East Asia Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 68: East Asia Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 69: East Asia Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 70: East Asia Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 71: East Asia Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 72: East Asia Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 73: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 74: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 75: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 76: South Asia & Pacific Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 77: South Asia & Pacific Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 78: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 79: South Asia & Pacific Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 80: South Asia & Pacific Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 81: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 82: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 83: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 84: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 85: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 86: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 87: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 88: MEA Market Value (US$ Mn) Analysis, by Type, 2019 to 2023
Table 89: MEA Market Value (US$ Mn) Analysis, by Type, 2024 to 2034
Table 90: MEA Market Value (US$ Mn) Opportunity Analysis, by Type, 2024 to 2034
Table 91: MEA Market Value (US$ Mn) Analysis, by Channel, 2019 to 2023
Table 92: MEA Market Value (US$ Mn) Analysis, by Channel, 2024 to 2034
Table 93: MEA Market Value (US$ Mn) Opportunity Analysis, by Channel, 2024 to 2034
Table 94: MEA Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 95: MEA Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 96: MEA Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
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List Of Figures
Figure 01: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 02: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 04: Global Market Incremental $ Opportunity, 2024 to 2034
Figure 05: Global Market Share and BPS Analysis by Type, 2024 & 2034
Figure 06: Global Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 07: Global Market Attractiveness Analysis by Type, 2024 to 2034
Figure 08: Global Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 09: Global Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 11: Global Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 12: Global Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 14: Global Market Share and BPS Analysis by Region, 2024 & 2034
Figure 15: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 16: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 17: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 18: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 19: North America Market Value Y-o-Y Growth and Forecast, 2034
Figure 20: North America Market Incremental $ Opportunity, 2024 to 2034
Figure 21: North America Market Share Analysis by Country, 2024 & 2034
Figure 22: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 23: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 24: North America Market Share and BPS Analysis by Type, 2024 & 2034
Figure 25: North America Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 26: North America Market Attractiveness Analysis by Type, 2024 to 2034
Figure 27: North America Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 28: North America Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 29: North America Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 30: North America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 31: North America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 32: North America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 33: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 34: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 35: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 36: Latin America Market Incremental $ Opportunity, 2024 to 2034
Figure 37: Latin America Market Share Analysis by Country, 2024 & 2034
Figure 38: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 39: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 40: Latin America Market Share and BPS Analysis by Type, 2024 & 2034
Figure 41: Latin America Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 42: Latin America Market Attractiveness Analysis by Type, 2024 to 2034
Figure 43: Latin America Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 44: Latin America Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 45: Latin America Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 46: Latin America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 47: Latin America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 48: Latin America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 49: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 50: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 51: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 52: Western Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 53: Western Europe Market Share Analysis by Country, 2024 & 2034
Figure 54: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 55: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 56: Western Europe Market Share and BPS Analysis by Type, 2024 & 2034
Figure 57: Western Europe Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 58: Western Europe Market Attractiveness Analysis by Type, 2024 to 2034
Figure 59: Western Europe Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 60: Western Europe Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 61: Western Europe Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 62: Western Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 63: Western Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 64: Western Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 66: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 67: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 68: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 69: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 70: Eastern Europe Market Share Analysis by Country, 2024 & 2034
Figure 71: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 72: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 73: Eastern Europe Market Share and BPS Analysis by Type, 2024 & 2034
Figure 74: Eastern Europe Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 75: Eastern Europe Market Attractiveness Analysis by Type, 2024 to 2034
Figure 76: Eastern Europe Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 77: Eastern Europe Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 78: Eastern Europe Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 79: Eastern Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 80: Eastern Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 81: Eastern Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 82: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 83: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 84: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 85: East Asia Market Incremental $ Opportunity, 2024 to 2034
Figure 86: East Asia Market Share Analysis by Country, 2024 & 2034
Figure 87: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 88: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 89: East Asia Market Share and BPS Analysis by Type, 2024 & 2034
Figure 90: East Asia Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 91: East Asia Market Attractiveness Analysis by Type, 2024 to 2034
Figure 92: East Asia Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 93: East Asia Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 94: East Asia Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 95: East Asia Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 96: East Asia Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 97: East Asia Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 98: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 99: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 100: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 101: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034
Figure 102: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034
Figure 103: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 104: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034
Figure 105: South Asia & Pacific Market Share and BPS Analysis by Type, 2024 & 2034
Figure 106: South Asia & Pacific Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 107: South Asia & Pacific Market Attractiveness Analysis by Type, 2024 to 2034
Figure 108: South Asia & Pacific Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 109: South Asia & Pacific Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 110: South Asia & Pacific Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 111: South Asia & Pacific Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 112: South Asia & Pacific Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 113: South Asia & Pacific Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 114: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 115: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 116: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 117: MEA Market Incremental $ Opportunity, 2024 to 2034
Figure 118: MEA Market Share Analysis by Country, 2024 & 2034
Figure 119: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 120: MEA Market Attractiveness Analysis by Country, 2024 to 2034
Figure 121: MEA Market Share and BPS Analysis by Type, 2024 & 2034
Figure 122: MEA Market Y-o-Y Growth Projections by Type, 2024 to 2034
Figure 123: MEA Market Attractiveness Analysis by Type, 2024 to 2034
Figure 124: MEA Market Share and BPS Analysis by Channel, 2024 & 2034
Figure 125: MEA Market Y-o-Y Growth Projections by Channel, 2024 to 2034
Figure 126: MEA Market Attractiveness Analysis by Channel, 2024 to 2034
Figure 127: MEA Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 128: MEA Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 129: MEA Market Attractiveness Analysis by End Use, 2024 to 2034
Know thy Competitors
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- FAQs -
How big is the digital remittance market in 2024?
The global digital remittance market is set to be worth US$ 23.4 billion in 2024.
What is the forecasted valuation of the digital remittance market for 2034?
Sales of digital remittance solutions are calculated to reach US$ 83.2 billion by 2034.
How fast is the global market projected to expand over the decade?
Demand for digital remittance platforms is foreseen to rise at a CAGR of 13.5% during the next 10 years.
Which region is the leading user of digital remittance services?
East Asia is set to capture 26% of the global market share by 2034.
Which East Asian country accounts for high adoption of digital remittance solutions?
Demand for digital remittance solutions in South Korea is forecasted to rise at a CAGR of 15.4% from 2024 to 2034.
Which type of digital remittance platform accounts for high revenue generation?
Outward digital remittance services are expected to hold 55% of the global market share in 2024.
Who are the leading providers of digital remittance services?
Some of the top market players are WorldRemit Ltd., Remitly, InstaReM Pvt. Ltd., and MoneyGram.
What is digital remittance?
Digital remittance is an electronic medium to transfer funds safely.
Digital Remittance Market