About Currency Converter Apps
A currency converter is a software code that is aimed to convert one currency into another in order to check its equivalent value. The code is usually a part of a web site or it forms a mobile app and it is based on bank exchange rates or current market. The modest interface lets users convert through all main currencies or pull from more than 30,000 currency charts for historic rates. Some of the apps are available on iOS devices, Android, BlackBerry and Windows Phone 7 for free like XE currency.
Attributes | Details |
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Study Period | 2017-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The app providers are advancing the feature of the app for competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Currency Converter Apps market throughout the forecasted period. 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.
XE (Canada), JRustonApps (Netherlands), DigitAlchemy (United States), Currency Converter (United States), Calconvert (Maple Media LLC) (United States), Valuta+ (United States), X-Rates Currency Converter (United States), Currency Converter Pro (Canada), Elk - Currency Converter (South Korea), Globe Convert Currency & Units (United States) and Skedsmokorset (Europe) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Exchange Rates - Currency Converter (United States), Calc - A simple currency converter (Ireland), Currency - Simple Converter (Canada), Cash Currency Converter (Australia) and Forex Currency Rates (Unites Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Currency Converter Apps market by , Application (Smartphone and Tablets) and Region.
On the basis of geography, the market of Currency Converter Apps 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 Platform, the sub-segment i.e. Android will boost the Currency Converter Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Users, the sub-segment i.e. Investors will boost the Currency Converter Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in Currency Converter Apps in term of its Features
Market Growth Drivers:
The Emergence of Cryptocurrency in Digitalisation and Increasing Demand for Currency Converter Apps by Individual Investors
Challenges:
The developed by established companies and this makes it tough for new apps to distinguish themselves and attract consumers.
Restraints:
Frequent Need for Upgradation
Opportunities:
Increasing Demand for Currency Converter Apps from Technologically Advanced Countries
Market Leaders and their expansionary development strategies
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In October 2023, WeConvert Currency Converter, a popular currency converter app, has launched new features to improve its functionality and user experience. The app now offers real-time exchange rates for over 150 currencies, as well as a new historical data feature that allows users to track exchange rates over time. WeConvert has also added a new voice-activated conversion feature, making it even easier for users to convert currencies on the go.
Key Target Audience
Currency Converter Apps Providers, Industry Associations, Research and Development Institutes and Financial Institutes
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.