Foreign Exchange Market Size, Trends | Forex (FX) Industry Analysis Report 2022-2027
SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Foreign Exchange Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, Offers a comprehensive analysis of the industry, which comprises insights on global foreign exchange market.
What are the growth prospects of the foreign exchange industry?
The global foreign exchange market reached a value of US$ 702 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,066.8 Billion by 2027, exhibiting a CAGR of 7.3% during 2022-2027.
What is foreign exchange (FX)?
Foreign exchange (FX) refers to the process of trading the currency of one country for another according to the prevailing exchange rates. It comprises an elaborate network of various financial institutions and dealers, such as commercial companies, banks, forex dealers, investment management firms, central banks, retail forex dealers, investors, and hedge funds. It is influenced by economic stability and policies of countries, geopolitics, natural calamities, and trade deals. FX does not implement specific limits on the exchange value and allows traders to invest according to their requirements. It provides flexibility, transparency, and various trading options for low transactional costs. It enables traders to participate independently without the involvement of any supervisory authority. It assists first-time traders in making small investments by speculating, buying, and selling various currencies. It also allows tourists to get access to the currency of any country before traveling. As it allows retail traders to borrow a minimum amount of capital, take risks, and increase their profit margins exponentially, the demand for FX is rising worldwide.
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Market Trends
At present, the increasing participation of businesses in FX to expand their operations overseas, improve brand recognition, and attract new customers across the globe represents one of the primary factors influencing the market positively. Besides this, governing agencies of several countries are undertaking initiatives to strengthen the tourism sector for attracting overseas travelers and empowering local businesses. In addition, the rising exchange of services and goods among various countries to establish cordial relationships and manage debts is contributing to the growth of the market. Apart from this, the growing utilization of technologically advanced and user-friendly platforms by traders to exchange currencies conveniently around the world is currently offering a favorable market outlook. Additionally, FX brokers and market dealers are developing trading apps integrated with artificial intelligence (AI) and machine learning (ML) to optimize trade operations and enhance the experience of traders. They are also providing demo accounts to beginners for learning the integral aspects of trading before they initiate actual currency exchange, which is propelling the growth of the market. Moreover, rising online payment activities of individuals around the world to pay for transactions conveniently and safely are supporting the growth of the market. Furthermore, the increasing availability of forex advisory services to assist traders in determining and maintaining appropriate FX policies and guidelines, analyzing risks, and managing resources worldwide is bolstering the growth of the market.
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List of Key Companies Covered in this Market Report:
Barclays
BNP Paribas
Citibank
Deutsche Bank
Goldman Sachs
HSBC Holdings plc
JPMorgan Chase & Co.
The Royal Bank of Scotland
UBS AG
Standard Chartered PLC
State Street Corporation
XTX Markets Limited
The report has segmented the market on the basis of counterparty, instruments and geography.
Breakup by Counterparty:
Reporting Dealers
Other Financial Institutions
Non-financial Customers
Breakup by Instruments:
Currency Swap
Outright Forward and FX Swaps
FX Options
Breakup by Geography:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
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