Global Digital Remittance Market Size & Outlook, 2023-2030
Global digital remittance market, 2017-2030 (US$M)
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Global digital remittance market highlights
- The global digital remittance market generated a revenue of USD 21,832.3 million in 2023 and is expected to reach USD 60,051.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 15.6% by 2030.
- In terms of segment, outward digital remittance accounted for a revenue of USD 12,697.6 million in 2023.
- Inward Digital Remittance is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 21,832.3 million |
| Market revenue in 2030 | USD 60,051.6 million |
| Growth rate | 15.6% (CAGR from 2023 to 2030) |
| Largest segment | Outward digital remittance |
| Fastest growing segment | Inward Digital Remittance |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Inward Digital Remittance, Outward Digital Remittance |
Other key industry trends
- In terms of revenue, the North America accounted for 28.1% of the global digital remittance market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 13,402.0 million by 2030.
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Digital Remittance Market Scope
Digital Remittance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global digital remittance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to digital remittance market will help companies and investors design strategic landscapes.
Outward digital remittance was the largest segment with a revenue share of 58.16% in 2023. Horizon Databook has segmented the Global digital remittance market based on inward digital remittance, outward digital remittance covering the revenue growth of each sub-segment from 2017 to 2030.
- Global Digital Remittance Type Outlook (Revenue, USD Million, 2017-2030)
- Inward Digital Remittance
- Outward Digital Remittance
- Global Digital Remittance Channel Outlook (Revenue, USD Million, 2017-2030)
- Banks
- Money Transfer Operators
- Online Platforms
- Others
- Global Digital Remittance End Use Outlook (Revenue, USD Million, 2017-2030)
- Migrant Labor Workforce
- Personal
- Small Businesses
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global digital remittance market , including forecasts for subscribers. This global databook contains high-level insights into Global digital remittance market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global digital remittance market size, by region, 2017-2030 (US$M)
Top 10 countries: Digital remittance market size, 2023 (US$M)
Global digital remittance market share, by type, 2023 & 2030 (%, US$M)
Digital remittance market: Opportunity assessment by country
Global digital remittance market, by region, 2023 (US$M)
| Type | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,929.1 | 4,160.1 | 4,421.0 | 4,737.3 | 5,143.7 | 5,586.8 | 6,134.9 | 6,798.2 | 7,604.5 | 8,590.1 | 9,801.9 | 11,288.3 | 13,151.6 | 15,486.0 | 14.1% |
| Europe | 3,603.1 | 3,842.8 | 4,113.4 | 4,439.7 | 4,855.7 | 5,312.1 | 5,875.6 | 6,558.1 | 7,389.1 | 8,407.2 | 9,662.8 | 11,228.6 | 13,177.7 | 15,641.6 | 15.0% |
| Asia Pacific | 3,013.2 | 3,268.3 | 3,557.9 | 3,905.3 | 4,343.5 | 4,832.4 | 5,435.5 | 6,169.6 | 7,069.1 | 8,179.4 | 9,560.4 | 11,275.5 | 13,458.1 | 16,233.0 | 16.9% |
| Latin America | 1,568.0 | 1,694.8 | 1,838.5 | 2,010.7 | 2,228.1 | 2,469.5 | 2,767.1 | 3,128.5 | 3,570.4 | 4,114.5 | 4,789.3 | 5,639.9 | 6,701.3 | 8,055.6 | 16.5% |
| MEA | 929.2 | 1,002.5 | 1,085.4 | 1,184.6 | 1,309.9 | 1,448.5 | 1,619.2 | 1,826.2 | 2,078.8 | 2,389.2 | 2,773.4 | 3,261.8 | 3,864.9 | 4,635.5 | 16.2% |
| Overall | 13,042.5 | 13,968.5 | 15,016.2 | 16,277.5 | 17,880.9 | 19,649.3 | 21,832.3 | 24,480.6 | 27,712.0 | 31,680.4 | 36,587.7 | 42,694.2 | 50,353.5 | 60,051.6 | 15.6% |
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