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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Digital Remittance Market Growth & Trends
The global digital remittance market size is expected t%li%reach USD 60.05 billion by 2030, according t%li%a new report by Grand View Research, Inc. It is expected t%li%expand at a CAGR of 16.7% from 2025 t%li%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 t%li%cross-border remittances are expected t%li%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 t%li%favorably impact the market growth. The pandemic has proved t%li%be a significant growth catalyst for the digitization of remittance services. Various factors such as the closure of money transfer agent locations due t%li%national lockdowns and customers turning t%li%digital solutions out of necessity further accentuated the market growth.
Digital Remittance Market Report Highlights
Digital Remittance Market Growth & Trends
The global digital remittance market size is expected t%li%reach USD 60.05 billion by 2030, according t%li%a new report by Grand View Research, Inc. It is expected t%li%expand at a CAGR of 16.7% from 2025 t%li%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 t%li%cross-border remittances are expected t%li%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 t%li%favorably impact the market growth. The pandemic has proved t%li%be a significant growth catalyst for the digitization of remittance services. Various factors such as the closure of money transfer agent locations due t%li%national lockdowns and customers turning t%li%digital solutions out of necessity further accentuated the market growth.
Digital Remittance Market Report Highlights
- By type, the inward digital remittance segment is anticipated t%li%witness significant growth over the forecast period owing t%li%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 t%li%users, thereby creating growth opportunities for the segment
- Numerous banks across the globe are focusing on integrating technologies int%li%their remittance platforms t%li%provide faster transfer time. Moreover, banks are increasingly adopting digital innovation t%li%achieve a competitive advantage over competitors. Moreover, the growing shift toward digitization in the cross-border money transfer industry is expected t%li%drive the banks channel segment over the forecast period.Amid the COVID-19 pandemic, banks began allowing workers t%li%seek real-time access t%li%their earnings, thereby allowing them t%li%meet the immediate needs of their families and themselves
- Migrant workers across the globe are making use of digital remittance services owing t%li%their numerous benefits, such as improved remittance speed and reduced cost. This is expected t%li%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 t%li%accentuate the regional market growth over the forecast period
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
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
