About Foreign Exchange Software
Foreign exchange software refer as a software which enables companies for buying and manage foreign currencies so that it can support there international operation. In recent period trading volume has increased rapidly. In order to sell goods internationally firms need to change units of one currency for units of another currency, for this foreign exchange software is used. Due to the growing trading activity the market of foreign exchange software is increasing while some of the factors like security issue and transaction charges associated with it is hindering the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.5% |
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the market were innovation, product development, acquisition, and expansion. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AFEXDirect (United kingdom), Calyx Solutions (United Kingdom), Merkeleon Software (Austria), Banking Circle Real-time FX (United Kingdom), Biz4x (Singapore), Broadridge FX (United States), CEIFX (United States), Conotoxia (United States), Datasoft FxOffice (Canada) and DCS Foreign Currency Exchange (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Foreign Exchange Software market by , Application (Personal and Business) and Region.
On the basis of geography, the market of Foreign Exchange Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Software will boost the Foreign Exchange Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Mode, the sub-segment i.e. Cloud Based will boost the Foreign Exchange Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprises will boost the Foreign Exchange Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Organization are emphasizing on developing advanced technology
Market Growth Drivers:
Growing number of international transactions and Increasing investment in Fin tech industry
Challenges:
Security issue associated with the foreign exchange software
Restraints:
High transaction charges associated with the software
Opportunities:
Growing adoption of cloud technology which benefits organization and enterprise in terms of cost
Market Leaders and their expansionary development strategies
In January 2023, IBM announced IBM Partner Plus, The program is designed to fuel growth for new and existing partners, including resellers, hyperscale's, technology providers, independent software vendors and systems integrators, by putting them in control of their earning potential. IBM Partner Plus is central to the company's Hybrid Cloud and AI strategy and aims to empower partners to help clients automate, secure and modernize their businesses.
In October 2023, BNY Mellon launched Universal FX It supports BNY Mellon clients across all market segments, such as investment managers, corporates, hedge funds and wealth managers, as well as helping them navigate the industry transition to T+1 settlement.
Key Target Audience
Foreign Exchange Software Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.