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Global Mobile Remittance Service Market Research Report 2024
Synopsis
Around 400 million of the two billion unbanked people in the world have some forms of mobile money account. The global remittance revenue generated from digital channels is estimated to be less than 6% of the total but is progressively growing. However, a predominant endto-enddigital scenario is still some time off.
The global Mobile Remittance Service market was valued at US$ 6330.4 million in 2023 and is anticipated to reach US$ 9511.9 million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.
The growth of the digital remittance market is driven by rise in digitization & automation, reduced remittance cost & transfer time, and growth in adoption of banking & financial services. Furthermore, regulatory initiatives that encourage all financial institutions to become more transparent and nurture richer ecosystems of data & partners supplement the market growth. However, lack of awareness & guidance is a major factor that restrains people from opting for digital remittance transfer mode. Increase in access of financial services such as basic bank accounts among remittance recipients and rise in internet usage offer growth opportunities for the market.
This report aims to provide a comprehensive presentation of the global market for Mobile Remittance Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Mobile Remittance Service.
Report Scope
The Mobile Remittance Service market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Mobile Remittance Service market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Mobile Remittance Service companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Mobetize Corp.
Remitly
Regalii
peerTransfer
Currency Cloud
Azimo
WorldRemit
TransferWise
Ripple
MoneyGram
Segment by Type
Banks
Money Transfer Operators
Others
Segment by Application
Migrant Labor Workforce
Low-income Households
Small Businesses
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Mobile Remittance Service companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Around 400 million of the two billion unbanked people in the world have some forms of mobile money account. The global remittance revenue generated from digital channels is estimated to be less than 6% of the total but is progressively growing. However, a predominant endto-enddigital scenario is still some time off.
The global Mobile Remittance Service market was valued at US$ 6330.4 million in 2023 and is anticipated to reach US$ 9511.9 million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.
The growth of the digital remittance market is driven by rise in digitization & automation, reduced remittance cost & transfer time, and growth in adoption of banking & financial services. Furthermore, regulatory initiatives that encourage all financial institutions to become more transparent and nurture richer ecosystems of data & partners supplement the market growth. However, lack of awareness & guidance is a major factor that restrains people from opting for digital remittance transfer mode. Increase in access of financial services such as basic bank accounts among remittance recipients and rise in internet usage offer growth opportunities for the market.
This report aims to provide a comprehensive presentation of the global market for Mobile Remittance Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Mobile Remittance Service.
Report Scope
The Mobile Remittance Service market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Mobile Remittance Service market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Mobile Remittance Service companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Mobetize Corp.
Remitly
Regalii
peerTransfer
Currency Cloud
Azimo
WorldRemit
TransferWise
Ripple
MoneyGram
Segment by Type
Banks
Money Transfer Operators
Others
Segment by Application
Migrant Labor Workforce
Low-income Households
Small Businesses
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Mobile Remittance Service companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Mobile Remittance Service Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Banks
1.2.3 Money Transfer Operators
1.2.4 Others
1.3 Market by Application
1.3.1 Global Mobile Remittance Service Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Migrant Labor Workforce
1.3.3 Low-income Households
1.3.4 Small Businesses
1.3.5 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Mobile Remittance Service Market Perspective (2019-2030)
2.2 Mobile Remittance Service Growth Trends by Region
2.2.1 Global Mobile Remittance Service Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Mobile Remittance Service Historic Market Size by Region (2019-2024)
2.2.3 Mobile Remittance Service Forecasted Market Size by Region (2025-2030)
2.3 Mobile Remittance Service Market Dynamics
2.3.1 Mobile Remittance Service Industry Trends
2.3.2 Mobile Remittance Service Market Drivers
2.3.3 Mobile Remittance Service Market Challenges
2.3.4 Mobile Remittance Service Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Mobile Remittance Service Players by Revenue
3.1.1 Global Top Mobile Remittance Service Players by Revenue (2019-2024)
3.1.2 Global Mobile Remittance Service Revenue Market Share by Players (2019-2024)
3.2 Global Mobile Remittance Service Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Mobile Remittance Service Revenue
3.4 Global Mobile Remittance Service Market Concentration Ratio
3.4.1 Global Mobile Remittance Service Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Mobile Remittance Service Revenue in 2023
3.5 Mobile Remittance Service Key Players Head office and Area Served
3.6 Key Players Mobile Remittance Service Product Solution and Service
3.7 Date of Enter into Mobile Remittance Service Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Mobile Remittance Service Breakdown Data by Type
4.1 Global Mobile Remittance Service Historic Market Size by Type (2019-2024)
4.2 Global Mobile Remittance Service Forecasted Market Size by Type (2025-2030)
5 Mobile Remittance Service Breakdown Data by Application
5.1 Global Mobile Remittance Service Historic Market Size by Application (2019-2024)
5.2 Global Mobile Remittance Service Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Mobile Remittance Service Market Size (2019-2030)
6.2 North America Mobile Remittance Service Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Mobile Remittance Service Market Size by Country (2019-2024)
6.4 North America Mobile Remittance Service Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Mobile Remittance Service Market Size (2019-2030)
7.2 Europe Mobile Remittance Service Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Mobile Remittance Service Market Size by Country (2019-2024)
7.4 Europe Mobile Remittance Service Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Mobile Remittance Service Market Size (2019-2030)
8.2 Asia-Pacific Mobile Remittance Service Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Mobile Remittance Service Market Size by Region (2019-2024)
8.4 Asia-Pacific Mobile Remittance Service Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Mobile Remittance Service Market Size (2019-2030)
9.2 Latin America Mobile Remittance Service Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Mobile Remittance Service Market Size by Country (2019-2024)
9.4 Latin America Mobile Remittance Service Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Mobile Remittance Service Market Size (2019-2030)
10.2 Middle East & Africa Mobile Remittance Service Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Mobile Remittance Service Market Size by Country (2019-2024)
10.4 Middle East & Africa Mobile Remittance Service Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Mobetize Corp.
11.1.1 Mobetize Corp. Company Detail
11.1.2 Mobetize Corp. Business Overview
11.1.3 Mobetize Corp. Mobile Remittance Service Introduction
11.1.4 Mobetize Corp. Revenue in Mobile Remittance Service Business (2019-2024)
11.1.5 Mobetize Corp. Recent Development
11.2 Remitly
11.2.1 Remitly Company Detail
11.2.2 Remitly Business Overview
11.2.3 Remitly Mobile Remittance Service Introduction
11.2.4 Remitly Revenue in Mobile Remittance Service Business (2019-2024)
11.2.5 Remitly Recent Development
11.3 Regalii
11.3.1 Regalii Company Detail
11.3.2 Regalii Business Overview
11.3.3 Regalii Mobile Remittance Service Introduction
11.3.4 Regalii Revenue in Mobile Remittance Service Business (2019-2024)
11.3.5 Regalii Recent Development
11.4 peerTransfer
11.4.1 peerTransfer Company Detail
11.4.2 peerTransfer Business Overview
11.4.3 peerTransfer Mobile Remittance Service Introduction
11.4.4 peerTransfer Revenue in Mobile Remittance Service Business (2019-2024)
11.4.5 peerTransfer Recent Development
11.5 Currency Cloud
11.5.1 Currency Cloud Company Detail
11.5.2 Currency Cloud Business Overview
11.5.3 Currency Cloud Mobile Remittance Service Introduction
11.5.4 Currency Cloud Revenue in Mobile Remittance Service Business (2019-2024)
11.5.5 Currency Cloud Recent Development
11.6 Azimo
11.6.1 Azimo Company Detail
11.6.2 Azimo Business Overview
11.6.3 Azimo Mobile Remittance Service Introduction
11.6.4 Azimo Revenue in Mobile Remittance Service Business (2019-2024)
11.6.5 Azimo Recent Development
11.7 WorldRemit
11.7.1 WorldRemit Company Detail
11.7.2 WorldRemit Business Overview
11.7.3 WorldRemit Mobile Remittance Service Introduction
11.7.4 WorldRemit Revenue in Mobile Remittance Service Business (2019-2024)
11.7.5 WorldRemit Recent Development
11.8 TransferWise
11.8.1 TransferWise Company Detail
11.8.2 TransferWise Business Overview
11.8.3 TransferWise Mobile Remittance Service Introduction
11.8.4 TransferWise Revenue in Mobile Remittance Service Business (2019-2024)
11.8.5 TransferWise Recent Development
11.9 Ripple
11.9.1 Ripple Company Detail
11.9.2 Ripple Business Overview
11.9.3 Ripple Mobile Remittance Service Introduction
11.9.4 Ripple Revenue in Mobile Remittance Service Business (2019-2024)
11.9.5 Ripple Recent Development
11.10 MoneyGram
11.10.1 MoneyGram Company Detail
11.10.2 MoneyGram Business Overview
11.10.3 MoneyGram Mobile Remittance Service Introduction
11.10.4 MoneyGram Revenue in Mobile Remittance Service Business (2019-2024)
11.10.5 MoneyGram 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
Published By : QY Research
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