Post-Covid-19 Epidemic Era, Digital remittance Industry Development Trend Analysis Report 2023
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The global Digital remittance market size in 2022 is 16442.8 million US dollars, and it is expected to be 36577.6 million US dollars by 2029, with a compound annual growth rate of 12.10% expected in 2023-2029.
MARKET COMPETITIVE LANDSCAPE:
The main players in the Digital remittance market include Azimo Limited, Digital Wallet Corporation, InstaReM Pvt. Ltd., MoneyGram, and PayPal Holdings, Inc.. The share of the top 3 players in the Digital remittance market is xx%.
REGION SHARE:
The report covers the market size information of North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and North America accounted for xx%, Europe accounted for xx% of Digital remittance market, and Asia Pacific accounted for xx%.
SEGMENT OVERVIEW:
The report segments the market by Type and Application. Inward Digital Remittance accounted for xx% of Digital remittance market in 2022. Outward Digital Remittance share of xx%.
Banks accounted for xx% of the Digital remittance market in 2022. Money Transfer Operators accounts for xx%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Digital remittance Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
In addition, the market SWOT analysis, dynamics, trends, technologies, opportunities and challenges analysis are covered in the report.
Further, the report also focuses on the competitive analysis of key players by product, financial position, product portfolio, growth strategies, and regional presence.
In the past few years, the Information Technology (IT) and Telecommunication industry has witnessed significant developments across various fronts.
5G Technology: The deployment of 5G networks has gained momentum globally. 5G offers faster speeds, lower latency, and increased network capacity compared to its predecessors, enabling transformative applications such as autonomous vehicles, Internet of Things (IoT) devices, augmented reality, and virtual reality.
Cybersecurity: With the rise in cyber threats, cybersecurity has become a critical focus area. New approaches to security, such as advanced encryption, behavioral analytics, and threat intelligence, are being implemented to protect data, networks, and systems. Additionally, privacy regulations like the EU's General Data Protection Regulation (GDPR) have prompted increased attention to data protection.
The industry continues to grow at a rapid pace, driven by the increasing integration of innovation and technology into every aspect of consumers' lives.
Market Data Breakdown by Regions
North America
United States
Canada
China
Asia Pacific (Excluding China)
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Nordic
Latin America
Brazil
Argentina
Mexico
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
Some prominent players in the market includes:
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.
Market Data Breakdown by Type
Inward Digital Remittance
Outward Digital Remittance
Market Data Breakdown by Applications
Banks
Money Transfer Operators
Online Platforms
Others
Table of Content
1 Digital remittance Market Introduction and Overview
1.1 Digital remittance Definition
1.2 Market Size Analysis by Types
1.3 Market Size Analysis by Application
1.4 Research Purposes
1.5 Report Timeline
1.6 Economic Analysis of Global Regions
2 Players Profiles
2.1 Azimo Limited
2.1.1 Azimo Limited Company Profile
2.1.2 Digital remittance Product Overview
2.1.3 Azimo Limited Digital remittance Market Performance (2018-2023)
2.1.4 Azimo Limited Business Overview
2.2 Digital Wallet Corporation
2.2.1 Digital Wallet Corporation Company Profile
2.2.2 Digital remittance Product Overview
2.2.3 Digital Wallet Corporation Digital remittance Market Performance (2018-2023)
2.2.4 Digital Wallet Corporation Business Overview
2.3 InstaReM Pvt. Ltd.
2.3.1 InstaReM Pvt. Ltd. Company Profile
2.3.2 Digital remittance Product Overview
2.3.3 InstaReM Pvt. Ltd. Digital remittance Market Performance (2018-2023)
2.3.4 InstaReM Pvt. Ltd. Business Overview
2.4 MoneyGram
2.4.1 MoneyGram Company Profile
2.4.2 Digital remittance Product Overview
2.4.3 MoneyGram Digital remittance Market Performance (2018-2023)
2.4.4 MoneyGram Business Overview
2.5 PayPal Holdings, Inc.
2.5.1 PayPal Holdings, Inc. Company Profile
2.5.2 Digital remittance Product Overview
2.5.3 PayPal Holdings, Inc. Digital remittance Market Performance (2018-2023)
2.5.4 PayPal Holdings, Inc. Business Overview
2.6 Ria Financial Services Ltd.
2.6.1 Ria Financial Services Ltd. Company Profile
2.6.2 Digital remittance Product Overview
2.6.3 Ria Financial Services Ltd. Digital remittance Market Performance (2018-2023)
2.6.4 Ria Financial Services Ltd. Business Overview
2.7 TransferGo Ltd.
2.7.1 TransferGo Ltd. Company Profile
2.7.2 Digital remittance Product Overview
2.7.3 TransferGo Ltd. Digital remittance Market Performance (2018-2023)
2.7.4 TransferGo Ltd. Business Overview
2.8 TransferWise Ltd.
2.8.1 TransferWise Ltd. Company Profile
2.8.2 Digital remittance Product Overview
2.8.3 TransferWise Ltd. Digital remittance Market Performance (2018-2023)
2.8.4 TransferWise Ltd. Business Overview
2.9 Western Union Holdings, Inc.
2.9.1 Western Union Holdings, Inc. Company Profile
2.9.2 Digital remittance Product Overview
2.9.3 Western Union Holdings, Inc. Digital remittance Market Performance (2018-2023)
2.9.4 Western Union Holdings, Inc. Business Overview
2.10 WorldRemit Ltd.
2.10.1 WorldRemit Ltd. Company Profile
2.10.2 Digital remittance Product Overview
2.10.3 WorldRemit Ltd. Digital remittance Market Performance (2018-2023)
2.10.4 WorldRemit Ltd. Business Overview
3 Global Digital remittance Historical and Forecast Market Analysis by Type
3.1 Global Digital remittance Revenue and Market Share by Type
3.2 Global Digital remittance Revenue Market Forecast by Type (2023-2029)
4 Global Digital remittance Historical and Forecast Market Analysis by Application
4.1 Global Digital remittance Revenue Market Share by Application (2018-2023)
4.2 Digital remittance Revenue Market Forecast by Application (2023-2029)
5 Global Market Growth Trends Analysis
5.1 Global Digital remittance Market Size & Forecast (2018-2029)
5.2 Digital remittance Growth Trends Analysis by Regions
5.2.1 Digital remittance Market Size by Regions: 2018 VS 2023 VS 2029
5.2.2 Digital remittance Historic Market Size by Regions (2018-2023)
5.2.3 Digital remittance Forecasted Market Size by Regions (2023-2029)
5.2.4 North America Digital remittance Market Size & Forecast (2018-2029)
5.2.5 Europe Digital remittance Market Size & Forecast (2018-2029)
5.2.6 China Digital remittance Market Size & Forecast (2018-2029)
5.2.7 Asia-Pacific (Excluding China) Digital remittance Market Size & Forecast (2018-2029)
5.2.8 Latin America Digital remittance Market Size & Forecast (2018-2029)
5.2.9 Middle East & Africa Digital remittance Market Size & Forecast (2018-2029)
6 North America
6.1 North America Digital remittance Revenue by Players
6.2 North America Digital remittance Revenue by Types
6.3 North America Digital remittance Revenue by Applications
6.4 North America Digital remittance Market by Countries
6.4.1 North America Digital remittance Revenue by Countries (2018-2029)
6.5 United States
6.6 Canada
7 China
7.1 China Digital remittance Revenue by Players
7.2 China Digital remittance Revenue by Types
7.3 China Digital remittance Revenue by Applications
7.4 China
8 Asia Pacific (Excluding China)
8.1 Asia Pacific Digital remittance Revenue by Players
8.2 Asia Pacific Digital remittance Revenue by Types
8.3 Asia Pacific Digital remittance Revenue by Applications
8.4 Asia Pacific Digital remittance Market by Countries
8.4.1 Asia Pacific Digital remittance Revenue by Countries (2018-2029)
8.5 Japan
8.6 Korea
8.7 Southeast Asia
8.8 India
8.9 Australia
9 Europe
9.1 Europe Digital remittance Revenue by Players
9.2 Europe Digital remittance Revenue by Types
9.3 Europe Digital remittance Revenue by Applications
9.4 Europe Digital remittance Market by Countries
9.4.1 Europe Digital remittance Revenue by Countries (2018-2029)
9.5 Germany
9.6 France
9.7 UK
9.8 Italy
9.9 Russia
9.10 Nordic
10 Latin America
10.1 Latin America Digital remittance Revenue by Players
10.2 Latin America Digital remittance Revenue by Types
10.3 Latin America Digital remittance Revenue by Applications
10.4 Latin America Digital remittance Market by Countries
10.4.1 Latin America Digital remittance Revenue by Countries (2018-2029)
10.5 Brazil
10.6 Argentina
10.7 Mexico
11 Middle East & Africa
11.1 Middle East & Africa Digital remittance Revenue by Players
11.2 Middle East & Africa Digital remittance Revenue by Types
11.3 Middle East & Africa Digital remittance Revenue by Applications
11.4 Middle East & Africa Digital remittance Market by Countries
11.4.1 Middle East & Africa Digital remittance Revenue by Countries (2018-2029)
11.5 Egypt
11.6 South Africa
11.7 Israel
11.8 Turkey
11.9 GCC Countries
12 Digital remittance Industry Dynamic Analysis
12.1 Digital remittance Market Trends Analysis
12.2 Digital remittance Market Drivers Analysis
12.3 Digital remittance Market Challenges Analysis
12.4 Digital remittance Market Restraints Analysis
12.5 Digital remittance Industry Mergers & Acquisitions
12.6 Digital remittance Industry New Entrants and Expansion Plans
13 Research Findings and Conclusion
Tables & Figures:
List of Tables and Figures
Figure Digital remittance Picture
Table Product Definition of Digital remittance
Table Global Digital remittance Market Size by Type (2023 VS 2029)
Table Global Digital remittance Market Size by Application (2023 VS 2029)
Table Azimo Limited Profile
Table Product Overview
Table Azimo Limited Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure Azimo Limited Revenue and Growth Rate
Figure Azimo Limited Revenue Market Share 2017-2022
Table Business Overview
Table Digital Wallet Corporation Profile
Table Product Overview
Table Digital Wallet Corporation Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure Digital Wallet Corporation Revenue and Growth Rate
Figure Digital Wallet Corporation Revenue Market Share 2017-2022
Table Business Overview
Table InstaReM Pvt. Ltd. Profile
Table Product Overview
Table InstaReM Pvt. Ltd. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure InstaReM Pvt. Ltd. Revenue and Growth Rate
Figure InstaReM Pvt. Ltd. Revenue Market Share 2017-2022
Table Business Overview
Table MoneyGram Profile
Table Product Overview
Table MoneyGram Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure MoneyGram Revenue and Growth Rate
Figure MoneyGram Revenue Market Share 2017-2022
Table Business Overview
Table PayPal Holdings, Inc. Profile
Table Product Overview
Table PayPal Holdings, Inc. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure PayPal Holdings, Inc. Revenue and Growth Rate
Figure PayPal Holdings, Inc. Revenue Market Share 2017-2022
Table Business Overview
Table Ria Financial Services Ltd. Profile
Table Product Overview
Table Ria Financial Services Ltd. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure Ria Financial Services Ltd. Revenue and Growth Rate
Figure Ria Financial Services Ltd. Revenue Market Share 2017-2022
Table Business Overview
Table TransferGo Ltd. Profile
Table Product Overview
Table TransferGo Ltd. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure TransferGo Ltd. Revenue and Growth Rate
Figure TransferGo Ltd. Revenue Market Share 2017-2022
Table Business Overview
Table TransferWise Ltd. Profile
Table Product Overview
Table TransferWise Ltd. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure TransferWise Ltd. Revenue and Growth Rate
Figure TransferWise Ltd. Revenue Market Share 2017-2022
Table Business Overview
Table Western Union Holdings, Inc. Profile
Table Product Overview
Table Western Union Holdings, Inc. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure Western Union Holdings, Inc. Revenue and Growth Rate
Figure Western Union Holdings, Inc. Revenue Market Share 2017-2022
Table Business Overview
Table WorldRemit Ltd. Profile
Table Product Overview
Table WorldRemit Ltd. Digital remittance Revenue, Gross and Gross Margin (2018-2023)
Figure WorldRemit Ltd. Revenue and Growth Rate
Figure WorldRemit Ltd. Revenue Market Share 2017-2022
Table Business Overview
Table Global Digital remittance Revenue and Market Size by Type (2018-2023)
Table Global Digital remittance Revenue and Market Share by Type (2018-2023)
Table Global Digital remittance Revenue Market Size Forecast by Type (2023-2029)
Table Global Digital remittance Revenue Market Share Forecast by Type (2023-2029)
Table Global Digital remittance Revenue Market Size by Application (2018-2023)
Table Global Digital remittance Revenue Market Share by Application (2018-2023)
Table Global Digital remittance Revenue Market Size by Application (2023-2029)
Table Global Digital remittance Revenue Market Share by Application (2023-2029)
Figure Global Digital remittance Revenue Market Size & Forecast (2018-2029)
Table Digital remittance Market Size by Regions: 2018 VS 2023 VS 2029
Table Digital remittance Historic Revenue Market Size by Regions (2018-2023)
Table Digital remittance Historic Revenue Market Share by Regions (2018-2023)
Table Digital remittance Forecasted Revenue Market Size by Regions (2023-2029)
Table Digital remittance Forecasted Revenue Market Share by Regions (2023-2029)
Figure North America Digital remittance Market Size & Forecast (2018-2029)
Figure Europe Digital remittance Market Size & Forecast (2018-2029)
Figure China Digital remittance Market Size & Forecast (2018-2029)
Figure Asia-Pacific (Excluding China) Digital remittance Market Size & Forecast (2018-2029)
Figure Latin America Digital remittance Market Size & Forecast (2018-2029)
Figure Middle East & Africa Digital remittance Market Size & Forecast (2018-2029)
Table North America Digital remittance Revenue Share by Players 2022
Table North America Digital remittance Revenue by Types (2018-2023)
Table North America Digital remittance Revenue Market Share by Types (2018-2023)
Table North America Digital remittance Revenue by Applications (2018-2023)
Table North America Digital remittance Revenue Market Share by Applications (2018-2023)
Table North America Digital remittance Revenue by Countries (2018-2029)
Table North America Digital remittance Revenue Market Share by Countries (2018-2029)
Figure United States Digital remittance Revenue and Growth (2018-2029)
Figure Canada Digital remittance Revenue and Growth (2018-2029)
Table China Digital remittance Revenue Share by Players 2022
Table China Digital remittance Revenue by Types (2018-2023)
Table China Digital remittance Revenue Market Share by Types (2018-2023)
Table China Digital remittance Revenue by Applications (2018-2023)
Table China Digital remittance Revenue Market Share by Applications (2018-2023)
Figure China Digital remittance Revenue and Growth (2018-2029)
Table Asia Pacific Digital remittance Revenue Share by Players 2022
Table Asia Pacific Digital remittance Revenue by Types (2018-2023)
Table Asia Pacific Digital remittance Revenue Market Share by Types (2018-2023)
Table Asia Pacific Digital remittance Revenue by Applications (2018-2023)
Table Asia Pacific Digital remittance Revenue Market Share by Applications (2018-2023)
Table Asia-Pacific Digital remittance Revenue by Countries (2018-2029)
Table Asia-Pacific Digital remittance Revenue Market Share by Countries (2018-2029)
Figure Japan Digital remittance Revenue and Growth (2018-2029)
Figure Korea Digital remittance Revenue and Growth (2018-2029)
Figure Southeast Asia Digital remittance Revenue and Growth (2018-2029)
Figure India Digital remittance Revenue and Growth (2018-2029)
Figure Australia Digital remittance Revenue and Growth (2018-2029)
Table Europe Digital remittance Revenue Share by Players 2022
Table Europe Digital remittance Revenue by Types (2018-2023)
Table Europe Digital remittance Revenue Market Share by Types (2018-2023)
Table Europe Digital remittance Revenue by Applications (2018-2023)
Table Europe Digital remittance Revenue Market Share by Applications (2018-2023)
Table Europe Digital remittance Revenue by Countries (2018-2029)
Table Europe Digital remittance Revenue Market Share by Countries (2018-2029)
Figure Germany Digital remittance Revenue and Growth (2018-2029)
Figure France Digital remittance Revenue and Growth (2018-2029)
Figure UK Digital remittance Revenue and Growth (2018-2029)
Figure Italy Digital remittance Revenue and Growth (2018-2029)
Figure Russia Digital remittance Revenue and Growth (2018-2029)
Figure Nordic Digital remittance Revenue and Growth (2018-2029)
Table Latin America Digital remittance Revenue Share by Players 2022
Table Latin America Digital remittance Revenue by Types (2018-2023)
Table Latin America Digital remittance Revenue Market Share by Types (2018-2023)
Table Latin America Digital remittance Revenue by Applications (2018-2023)
Table Latin America Digital remittance Revenue Market Share by Applications (2018-2023)
Table Latin America Digital remittance Revenue by Countries (2018-2029)
Table Latin America Digital remittance Revenue Market Share by Countries (2018-2029)
Figure Brazil Digital remittance Revenue and Growth (2018-2029)
Figure Argentina Digital remittance Revenue and Growth (2018-2029)
Figure Mexico Digital remittance Revenue and Growth (2018-2029)
Table Latin America Digital remittance Revenue Share by Players 2022
Table Middle East & Africa Digital remittance Revenue by Types (2018-2023)
Table Middle East & Africa Digital remittance Revenue Market Share by Types (2018-2023)
Table Middle East & Africa Digital remittance Revenue by Applications (2018-2023)
Table Middle East & Africa Digital remittance Revenue Market Share by Applications (2018-2023)
Table Middle East & Africa Digital remittance Revenue by Countries (2018-2029)
Table Middle East & Africa Digital remittance Revenue Market Share by Countries (2018-2029)
Figure Egypt Digital remittance Revenue and Growth (2018-2029)
Figure South Africa Digital remittance Revenue and Growth (2018-2029)
Figure Israel Digital remittance Revenue and Growth (2018-2029)
Figure Turkey Digital remittance Revenue and Growth (2018-2029)
Figure GCC Countries Digital remittance Revenue and Growth (2018-2029)
Table Market Trends Analysis
Table Market Drivers Analysis
Table Market Challenges Analysis
Table Market Restraints Analysis
Table Market Mergers & Acquisitions
Table Market New Entrants and Expansion Plans
Research Methodology:
Post Covid 19 Epidemic Era Digital remittance Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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