Global Digital Remittance Market was valued at USD 60.73 billion in 2018 which is expected to reach USD 75.87 billion by 2027 at a CAGR 2.39%.
Digital remittance is the powerful monitory solution that can have the potential to cause positive development on the local and global economy. An ample of number of economic situations is handled through banking which provide connectivity, identity, and also contain literacy solutions. Digital remittance mainly developed by private and public sectors with government support.
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Increase in need for secure, safer as well as quicker cross border monetary transactions is the key driving factor which is expected to boost the global digital remittance market growth. Furthermore, increase in necessity of digital remittance in order to receive payments from customers will have the positive impact on market growth. Moreover, increase in penetration of smartphones coupled with rising number of digital-savvy customers opting for the digital remittances will fuel the market growth during this forecast Period.
However, lack of awareness and guidance is the major challenging factor which is expected to hamper the global digital remittance market growth.
Market Key Players
Various key players are discussed in this report such as Mobetize Corp., MoneyGram, Ripple, TransferWise, WorldRemit, Azimo, Currency Cloud, peerTransfer, Regalii, and Remitly.
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- Inward Remittance
- Outward Remittance
By Remittance Channel
- Online Inward Remittances
- Money Transfer Operators
By End User
- Migrant Labor Workforce
- North America
- Latin America
- Asia pacific
- Middle East & Africa
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