Global and Japan Digital Remittance Market Size, Status and Forecast 2021-2028
Summary:
The digital remittance as P2P money remittance is sent via an online platform (mobile, desktop, tablet etc.), including both immediate transfers (less than 24 hours) and transfers that takes more than 24 hours. For example, Western Union (WU) is an important player of Digital Remittance. In this report, the Western Union’s digital remittance revenue is only for online money transfer, though WU’s branded website, including through their mobile devices, PC and tablet etc.).
Global key players of digital money transfer and remittance include Western Union, Ria Financial Services, etc. Global top 3 companies hold a share over 40%. North America is the largest market, with a share about 33%, followed by Asia Pacific and Europe with the share about 32% and 15%. In terms of product, digital money transfer operator is the largest segment, with a share over 80%. And in terms of application, the largest end user is personal customers, with a share about 80%.
Market Snapshot
A recently published report by QY Research, titled “Global Digital Remittance Market Size, Status and Forecast 2022” gives an overview of the overall Digital Remittance market. This section sheds light on key impact-rendering drivers and constraints that are impacting the growth. It permits users to understand the different shortcomings and how they may hamper the development afterward. This segment is considered to be one of the most crucial segments of the report as it helps readers comprehend the impact of various macro and microeconomic factors on development. The role of various sectors, including small-scale and large-scale, in the expansion has also been discussed in the report. Additionally, the industry experts have put forth the current trends and prospects, which are likely to aid the growth in the upcoming years.
The global Digital Remittance market size is projected to reach US$ 16580 million by 2027, from US$ 4604 million in 2020, at a CAGR of 17.4% during 2021-2027.
Impact of Covid-19 Outbreak
This section of the report has explored the overall status of the Covid scenario and has offered valuable insights into the changes in supply chain disruption, fluctuations in demand, etc. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Segmental Analysis
The report has been segmented into product and application segments. The researchers have documented all the products present today in the Digital Remittance market. They have also shed light on the new product innovations and launches by the key players. In the segmental analysis, the analysts have provided revenue forecast figures based on type and application for the period 2016-2027. They have also discussed about the growth rate and potential of each segment for the period 2016-2027.
Digital Remittance Breakdown Data by Provider
Digital Money Transfer Operators
Banks Digital Remittance
Digital Remittance Breakdown Data by End User
Personal Customers
Micro and Small Businesses
Regional Analysis
The significant regions that are studied in the research report encompass North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa. In this section of the report, the specialists have explored various areas that are contributing to the development and can present lucrative growth prospects for the manufacturers in the forthcoming years. The report also provides region-wise and country-wise sales and revenue forecast data for the period 2021-2027.
Competitive Landscape
This segment focuses on the key players operating in the industry. It underlines all the current and future activities by the prominent manufacturers. By understanding various initiatives being taken up by different players, readers will gain the ability to settle on correct business choices. The authors of the report have provided accurate revenue figures of the companies for the period 2016-2021. The clients are sure to gain the upper hand once they get hold of this report. Key players studied in the research report include:
Western Union (WU)
Ria Financial Services (Euronet)
PayPal/Xoom
Wise
Zepz (WorldRemit, Sendwave)
MoneyGram
Remitly
Azimo
TransferGo
NIUM, Inc (Instarem)
TNG FinTech
Coins.ph
OrbitRemit
Smiles/Digital Wallet Corporation
FlyRemit
SingX
Flywire
Intermex
Small World
Frequently Asked Questions
What factors will challenge the Digital Remittance market growth?
Which end-use segment will expand at the fastest CAGR in the Digital Remittance market?
Which are the emerging players in the Digital Remittance market?
How concentrated is the Digital Remittance market?
Which factors are positively contributing to the Digital Remittance market growth?
Which are the novel product innovations in the Digital Remittance market?
Which product segment will emerge as the most lucrative in the Digital Remittance market?
Which factors are increasing the competition in the Digital Remittance market?
Which are the strategic measures taken by the Digital Remittance industry players?
Which region will witness inactive growth during the forecast period?
Table of Contents
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Digital Remittance Market Size Growth Rate by Provider: 2016 VS 2021 VS 2027
1.2.2 Digital Money Transfer Operators
1.2.3 Banks Digital Remittance
1.3 Market by Application
1.3.1 Global Digital Remittance Market Share by End User: 2016 VS 2021 VS 2027
1.3.2 Personal Customers
1.3.3 Micro and Small Businesses
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global Digital Remittance Market Perspective (2016-2027)
2.2 Digital Remittance Growth Trends by Regions
2.2.1 Digital Remittance Market Size by Regions: 2016 VS 2021 VS 2027
2.2.2 Digital Remittance Historic Market Share by Regions (2016-2021)
2.2.3 Digital Remittance Forecasted Market Size by Regions (2022-2027)
2.3 Digital Remittance Industry Dynamic
2.3.1 Digital Remittance Market Trends
2.3.2 Digital Remittance Market Drivers
2.3.3 Digital Remittance Market Challenges
2.3.4 Digital Remittance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Digital Remittance Players by Revenue
3.1.1 Global Top Digital Remittance Players by Revenue (2016-2021)
3.1.2 Global Digital Remittance Revenue Market Share by Players (2016-2021)
3.2 Global Digital Remittance Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.3 Players Covered: Ranking by Digital Remittance Revenue
3.4 Global Digital Remittance Market Concentration Ratio
3.4.1 Global Digital Remittance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Digital Remittance Revenue in 2020
3.5 Digital Remittance Key Players Head office and Area Served
3.6 Key Players Digital Remittance Product Solution and Service
3.7 Date of Enter into Digital Remittance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Digital Remittance Breakdown Data by Provider
4.1 Global Digital Remittance Historic Market Size by Provider (2016-2021)
4.2 Global Digital Remittance Forecasted Market Size by Provider (2022-2027)
5 Digital Remittance Breakdown Data by End User
5.1 Global Digital Remittance Historic Market Size by End User (2016-2021)
5.2 Global Digital Remittance Forecasted Market Size by End User (2022-2027)
6 North America
6.1 North America Digital Remittance Market Size (2016-2027)
6.2 North America Digital Remittance Market Size by Provider
6.2.1 North America Digital Remittance Market Size by Provider (2016-2021)
6.2.2 North America Digital Remittance Market Size by Provider (2022-2027)
6.2.3 North America Digital Remittance Market Size by Provider (2016-2027)
6.3 North America Digital Remittance Market Size by End User
6.3.1 North America Digital Remittance Market Size by End User (2016-2021)
6.3.2 North America Digital Remittance Market Size by End User (2022-2027)
6.3.3 North America Digital Remittance Market Size by End User (2016-2027)
6.4 North America Digital Remittance Market Size by Country
6.4.1 North America Digital Remittance Market Size by Country (2016-2021)
6.4.2 North America Digital Remittance Market Size by Country (2022-2027)
6.4.3 United States
6.4.4 Canada
7 Europe
7.1 Europe Digital Remittance Market Size (2016-2027)
7.2 Europe Digital Remittance Market Size by Provider
7.2.1 Europe Digital Remittance Market Size by Provider (2016-2021)
7.2.2 Europe Digital Remittance Market Size by Provider (2022-2027)
7.2.3 Europe Digital Remittance Market Size by Provider (2016-2027)
7.3 Europe Digital Remittance Market Size by End User
7.3.1 Europe Digital Remittance Market Size by End User (2016-2021)
7.3.2 Europe Digital Remittance Market Size by End User (2022-2027)
7.3.3 Europe Digital Remittance Market Size by End User (2016-2027)
7.4 Europe Digital Remittance Market Size by Country
7.4.1 Europe Digital Remittance Market Size by Country (2016-2021)
7.4.2 Europe Digital Remittance Market Size by Country (2022-2027)
7.4.3 Germany
7.4.4 France
7.4.5 U.K.
7.4.6 Italy
7.4.7 Russia
7.4.8 Nordic
8 Asia-Pacific
8.1 Asia-Pacific Digital Remittance Market Size (2016-2027)
8.2 Asia-Pacific Digital Remittance Market Size by Provider
8.2.1 Asia-Pacific Digital Remittance Market Size by Provider (2016-2021)
8.2.2 Asia-Pacific Digital Remittance Market Size by Provider (2022-2027)
8.2.3 Asia-Pacific Digital Remittance Market Size by Provider (2016-2027)
8.3 Asia-Pacific Digital Remittance Market Size by End User
8.3.1 Asia-Pacific Digital Remittance Market Size by End User (2016-2021)
8.3.2 Asia-Pacific Digital Remittance Market Size by End User (2022-2027)
8.3.3 Asia-Pacific Digital Remittance Market Size by End User (2016-2027)
8.4 Asia-Pacific Digital Remittance Market Size by Region
8.4.1 Asia-Pacific Digital Remittance Market Size by Region (2016-2021)
8.4.2 Asia-Pacific Digital Remittance Market Size by Region (2022-2027)
8.4.3 China
8.4.4 Japan
8.4.5 South Korea
8.4.6 Southeast Asia
8.4.7 India
8.4.8 Australia
9 Latin America
9.1 Latin America Digital Remittance Market Size (2016-2027)
9.2 Latin America Digital Remittance Market Size by Provider
9.2.1 Latin America Digital Remittance Market Size by Provider (2016-2021)
9.2.2 Latin America Digital Remittance Market Size by Provider (2022-2027)
9.2.3 Latin America Digital Remittance Market Size by Provider (2016-2027)
9.3 Latin America Digital Remittance Market Size by End User
9.3.1 Latin America Digital Remittance Market Size by End User (2016-2021)
9.3.2 Latin America Digital Remittance Market Size by End User (2022-2027)
9.3.3 Latin America Digital Remittance Market Size by End User (2016-2027)
9.4 Latin America Digital Remittance Market Size by Country
9.4.1 Latin America Digital Remittance Market Size by Country (2016-2021)
9.4.2 Latin America Digital Remittance Market Size by Country (2022-2027)
9.4.3 Mexico
9.4.4 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Digital Remittance Market Size (2016-2027)
10.2 Middle East & Africa Digital Remittance Market Size by Provider
10.2.1 Middle East & Africa Digital Remittance Market Size by Provider (2016-2021)
10.2.2 Middle East & Africa Digital Remittance Market Size by Provider (2022-2027)
10.2.3 Middle East & Africa Digital Remittance Market Size by Provider (2016-2027)
10.3 Middle East & Africa Digital Remittance Market Size by End User
10.3.1 Middle East & Africa Digital Remittance Market Size by End User (2016-2021)
10.3.2 Middle East & Africa Digital Remittance Market Size by End User (2022-2027)
10.3.3 Middle East & Africa Digital Remittance Market Size by End User (2016-2027)
10.4 Middle East & Africa Digital Remittance Market Size by Country
10.4.1 Middle East & Africa Digital Remittance Market Size by Country (2016-2021)
10.4.2 Middle East & Africa Digital Remittance Market Size by Country (2022-2027)
10.4.3 Turkey
10.4.4 Saudi Arabia
10.4.5 UAE
11 Key Players Profiles
11.1 Western Union (WU)
11.1.1 Western Union (WU) Company Details
11.1.2 Western Union (WU) Business Overview
11.1.3 Western Union (WU) Digital Remittance Introduction
11.1.4 Western Union (WU) Revenue in Digital Remittance Business (2016-2021)
11.1.5 Western Union (WU) Recent Development
11.2 Ria Financial Services (Euronet)
11.2.1 Ria Financial Services (Euronet) Company Details
11.2.2 Ria Financial Services (Euronet) Business Overview
11.2.3 Ria Financial Services (Euronet) Digital Remittance Introduction
11.2.4 Ria Financial Services (Euronet) Revenue in Digital Remittance Business (2016-2021)
11.2.5 Ria Financial Services (Euronet) Recent Development
11.3 PayPal/Xoom
11.3.1 PayPal/Xoom Company Details
11.3.2 PayPal/Xoom Business Overview
11.3.3 PayPal/Xoom Digital Remittance Introduction
11.3.4 PayPal/Xoom Revenue in Digital Remittance Business (2016-2021)
11.3.5 PayPal/Xoom Recent Development
11.4 Wise
11.4.1 Wise Company Details
11.4.2 Wise Business Overview
11.4.3 Wise Digital Remittance Introduction
11.4.4 Wise Revenue in Digital Remittance Business (2016-2021)
11.4.5 Wise Recent Development
11.5 Zepz (WorldRemit, Sendwave)
11.5.1 Zepz (WorldRemit, Sendwave) Company Details
11.5.2 Zepz (WorldRemit, Sendwave) Business Overview
11.5.3 Zepz (WorldRemit, Sendwave) Digital Remittance Introduction
11.5.4 Zepz (WorldRemit, Sendwave) Revenue in Digital Remittance Business (2016-2021)
11.5.5 Zepz (WorldRemit, Sendwave) Recent Development
11.6 MoneyGram
11.6.1 MoneyGram Company Details
11.6.2 MoneyGram Business Overview
11.6.3 MoneyGram Digital Remittance Introduction
11.6.4 MoneyGram Revenue in Digital Remittance Business (2016-2021)
11.6.5 MoneyGram Recent Development
11.7 Remitly
11.7.1 Remitly Company Details
11.7.2 Remitly Business Overview
11.7.3 Remitly Digital Remittance Introduction
11.7.4 Remitly Revenue in Digital Remittance Business (2016-2021)
11.7.5 Remitly Recent Development
11.8 Azimo
11.8.1 Azimo Company Details
11.8.2 Azimo Business Overview
11.8.3 Azimo Digital Remittance Introduction
11.8.4 Azimo Revenue in Digital Remittance Business (2016-2021)
11.8.5 Azimo Recent Development
11.9 TransferGo
11.9.1 TransferGo Company Details
11.9.2 TransferGo Business Overview
11.9.3 TransferGo Digital Remittance Introduction
11.9.4 TransferGo Revenue in Digital Remittance Business (2016-2021)
11.9.5 TransferGo Recent Development
11.10 NIUM, Inc (Instarem)
11.10.1 NIUM, Inc (Instarem) Company Details
11.10.2 NIUM, Inc (Instarem) Business Overview
11.10.3 NIUM, Inc (Instarem) Digital Remittance Introduction
11.10.4 NIUM, Inc (Instarem) Revenue in Digital Remittance Business (2016-2021)
11.10.5 NIUM, Inc (Instarem) Recent Development
11.11 TNG FinTech
11.11.1 TNG FinTech Company Details
11.11.2 TNG FinTech Business Overview
11.11.3 TNG FinTech Digital Remittance Introduction
11.11.4 TNG FinTech Revenue in Digital Remittance Business (2016-2021)
11.11.5 TNG FinTech Recent Development
11.12 Coins.ph
11.12.1 Coins.ph Company Details
11.12.2 Coins.ph Business Overview
11.12.3 Coins.ph Digital Remittance Introduction
11.12.4 Coins.ph Revenue in Digital Remittance Business (2016-2021)
11.12.5 Coins.ph Recent Development
11.13 OrbitRemit
11.13.1 OrbitRemit Company Details
11.13.2 OrbitRemit Business Overview
11.13.3 OrbitRemit Digital Remittance Introduction
11.13.4 OrbitRemit Revenue in Digital Remittance Business (2016-2021)
11.13.5 OrbitRemit Recent Development
11.14 Smiles/Digital Wallet Corporation
11.14.1 Smiles/Digital Wallet Corporation Company Details
11.14.2 Smiles/Digital Wallet Corporation Business Overview
11.14.3 Smiles/Digital Wallet Corporation Digital Remittance Introduction
11.14.4 Smiles/Digital Wallet Corporation Revenue in Digital Remittance Business (2016-2021)
11.14.5 Smiles/Digital Wallet Corporation Recent Development
11.15 FlyRemit
11.15.1 FlyRemit Company Details
11.15.2 FlyRemit Business Overview
11.15.3 FlyRemit Digital Remittance Introduction
11.15.4 FlyRemit Revenue in Digital Remittance Business (2016-2021)
11.15.5 FlyRemit Recent Development
11.16 SingX
11.16.1 SingX Company Details
11.16.2 SingX Business Overview
11.16.3 SingX Digital Remittance Introduction
11.16.4 SingX Revenue in Digital Remittance Business (2016-2021)
11.16.5 SingX Recent Development
11.17 Flywire
11.17.1 Flywire Company Details
11.17.2 Flywire Business Overview
11.17.3 Flywire Digital Remittance Introduction
11.17.4 Flywire Revenue in Digital Remittance Business (2016-2021)
11.17.5 Flywire Recent Development
11.18 Intermex
11.18.1 Intermex Company Details
11.18.2 Intermex Business Overview
11.18.3 Intermex Digital Remittance Introduction
11.18.4 Intermex Revenue in Digital Remittance Business (2016-2021)
11.18.5 Intermex Recent Development
11.19 Small World
11.19.1 Small World Company Details
11.19.2 Small World Business Overview
11.19.3 Small World Digital Remittance Introduction
11.19.4 Small World Revenue in Digital Remittance Business (2016-2021)
11.19.5 Small World Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
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