Foreign Exchange Software Market To Reach USD 16.4 Billion

The Foreign Exchange Services Global Market Report 2023, provides comprehensive information on the foreign exchange services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/foreign-exchange-services-global-market-report

As per The Business Research Company’s Foreign Exchange Services Global Market Report 2023, the market size is expected to grow from $6,793.01 billion in 2022 to $7,523.28 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global foreign exchange services market is expected to reach $9,724.04 billion in 2027 at a CAGR of 6.6%.

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Technological advancements are a key trend gaining popularity in the foreign exchange service market. Major companies operating in the foreign exchange service market are adopting new technologies to sustain their position in the market. For instance, in July 2022, EbixCash Limited, an India-based technology-enabled provider of digital products and services, launched the Self Booking Corporate tool for foreign exchange. Self-Booking Corporate tool offers a spectrum of digital foreign exchange services to business and corporate travellers, and other corporates enabling increased efficiency. The tool will allow clients to avail of foreign exchange services digitally, through a hassle-free documentation process and provides corporate clients the ability to tailor the system by their corporate travel policies and generates customized reports.

The foreign exchange services market is segmented:

1) By Services: Currency Exchange, Remittance Services, Foreign Currency Accounts, Other Services

2) By Providers: Banks, Money Transfer Operators, Other Providers

3) By End-User: Individuals, Corporate Institutes, Government, Retailers, Other End Users

North America was the largest region in the foreign exchange services market in 2022.

The table of contents in TBRC’s foreign exchange services market report includes:

1. Executive Summary
2. Foreign Exchange Services Market Characteristics
3. Foreign Exchange Services Market Trends And Strategies
4. Foreign Exchange Services Market – Macro Economic Scenario
5. Foreign Exchange Services Market Size And Growth

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26. Africa Foreign Exchange Services Market
27. Foreign Exchange Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Foreign Exchange Services Market
29. Foreign Exchange Services Market Future Outlook and Potential Analysis
30. Appendix

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