Global Digital Cross-Border Remittance Market Growth (Status and Outlook) 2024-2030

Global Digital Cross-Border Remittance Market Growth (Status and Outlook) 2024-2030

Product Code:867750

Published Date: Jan 02,2024

Pages: 130

Region: Global

Category: Service & Software

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According to our LPI (LP Information) latest study, the global Digital Cross-Border Remittance market size was valued at US$ 6105.3 million in 2023. With growing demand in downstream market, the Digital Cross-Border Remittance is forecast to a readjusted size of US$ 19150 million by 2030 with a CAGR of 17.7% during review period. 
The research report highlights the growth potential of the global Digital Cross-Border Remittance market.  Digital Cross-Border Remittance are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Digital Cross-Border Remittance. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Digital Cross-Border Remittance market.

In this report, we focus on the digital remittance as P2P money remittance that 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 core digital cross-border remittance manufacturers include DSM, Wise (TransferWise) etc.The top 2 companies hold a share about 30%. North America is the largest market, with a share about 35%, followed by Asia Pacific and Europe with the share about 32% and 14%.In terms of provider, digital money transfer operators is the largest segment, with a share over 85%. And in terms of end user, the largest application is personal customers, followed by micro and small businesses.

Key Features:
The report on Digital Cross-Border Remittance market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Digital Cross-Border Remittance market. It may include historical data, market segmentation By Provider (e.g., Digital Money Transfer Operators, Bank Digital Remittance), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Digital Cross-Border Remittance market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Digital Cross-Border Remittance market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Digital Cross-Border Remittance industry. This include advancements in Digital Cross-Border Remittance technology, Digital Cross-Border Remittance new entrants, Digital Cross-Border Remittance new investment, and other innovations that are shaping the future of Digital Cross-Border Remittance.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Digital Cross-Border Remittance market. It includes factors influencing customer ' purchasing decisions, preferences for Digital Cross-Border Remittance product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Digital Cross-Border Remittance market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Digital Cross-Border Remittance market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Digital Cross-Border Remittance market. 
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Digital Cross-Border Remittance industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Digital Cross-Border Remittance market.

Market Segmentation:
Digital Cross-Border Remittance market is split By Provider and By End User. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value By Provider, and By End User in terms of value.

Segmentation by provider
    Digital Money Transfer Operators
    Bank Digital Remittance

Segmentation by end user
    Personal Customers
    Micro and Small Businesses

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Western Union (WU)
    Wise (TransferWise)
    Zepz (WorldRemit, Sendwave)
    Remitly
    Ria Financial Services (Euronet)
    PayPal/Xoom
    MoneyGram
    Flywire
    TransferGo
    OrbitRemit
    Intermex
    Azimo
    NIUM, Inc (Instarem)
    TNG FinTech
    Smiles/Digital Wallet Corporation
    Small World
    Coins.ph
    SingX
    FlyRemit