Foreign Currency Exchange Software Market Scope
Foreign currency exchange software enables companies to buy and manage foreign currencies to support their international operations. It is mostly used by companies with a multinational presence and businesses that have international partners. The main benefit of this software is that it helps companies limit the potential losses caused by fluctuations in exchange rates. This type of software can be used by accountants and treasury professionals who are in charge of buying and selling foreign currencies. This type of software can also be beneficial to FOREX traders and exchange offices. Foreign currency exchange software usually integrates with banking software since companies typically buy and sell currencies through banks. Integration with accounting software and ERP systems is also essential to manage financial transactions in foreign currencies.
The Foreign Currency Exchange Software market study is segmented by Type (PC Terminal and Mobile Terminal), by Application (BFSI, Travel and Hospitality, Importer/Exporter and Others) and major geographies with country level break-up.
Research Analyst at AMA estimates that United Kingdom Players will contribute to the maximum growth of Global Foreign Currency Exchange Software market throughout the predicted period.
Canopus Innovative Technologies (Russia), Currenex (United States), OANDA Corp (United States), XE.com Inc. (United Kingdom), Currency Exchange International (United States), VinIT Solutions (United Kingdom), Calyx Solutions (United Kingdom), Merkeleon (Germany), Biz4x (Singapore) and Office Exchange. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are FinTech Crowd (United Kingdom), CGI Design (United Kingdom), Minerva Technology Solutions (United Kingdom), GAIN Capital Group (United States), Thinkorswim (United Kingdom), FXCM (United States) and Oomsys Technology (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Foreign Currency Exchange Software market by Type, Application and Region.
On the basis of geography, the market of Foreign Currency 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).
On 9 Sept 2019, Currency Exchange International, Corp., a full service foreign exchange technology and services provider has announced the completion of its acquisition of eZforex.com, Inc., Texas-based privately-held foreign currency and technology business which has wholesale banknote financial institution customers located throughout the United States, by having acquired 100% of the issued and outstanding shares in the capital stock of eZforex pursuant to the terms of a Share Purchase Agreement that was both executed and completed by the parties to such agreement effective as of September 6, 2019.
Market Trend
- Rapid Adoption of Cloud Technology
Market Drivers
- Increasing Number of International Tractions
- Growing Investments in Fin-Tech Industry
Opportunities
- The Emerging Demand from the Developing Countries
Restraints
Key Target Audience
Foreign Currency Exchange Software Companies, Potential Investors, Financial Institutes, Regulatory & Government Bodies, End Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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