The Foreign Exchange Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Foreign Exchange Market:
https://www.thebusinessresearchcompany.com/report/foreign-exchange-global-market-report
According to The Business Research Company’s Foreign Exchange Global Market Report 2024, The foreign exchange market size has grown strongly in recent years. It will grow from $752.66 billion in 2023 to $795.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to globalization and international trade, interest rate differentials, government policies and monetary interventions, speculation and investment flows, balance of payments and economic indicators.
The foreign exchange market size is expected to see strong growth in the next few years. It will grow to $1023.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to political and geopolitical developments, commodity prices and resource exports, pandemic recovery and risk appetite, inflationary pressures, emerging market dynamics. Major trends in the forecast period include rise of retail forex trading, enhanced risk management strategies, global economic recovery impact, focus on ESG (environmental, social, governance), technological infrastructure investments.
The surge in international transactions is significantly contributing to the growth of the foreign exchange market going forward. International transactions refer to transactions involving two or more related businesses in which at least one party is a non-resident. Increased global trade and international transactions increase the size and activity of the foreign exchange market. For instance, according to a 2022 report published by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization that promotes the interests of developing countries in world trade, the value of global trade and international transactions reached $28.5 trillion in 2021. Therefore, a surge in international transactions will drive the foreign exchange market.
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The foreign exchange market covered in this report is segmented –
1) By Counterparty: Reporting Dealers, Other Financial Institutions, Non-Financial Customers
2) By Trade Finance Instruments: Currency Swaps, FX Options
3) By End User: Individuals, Retailers, Corporate Institutes, Government, Other End Users
Major companies operating in the foreign exchange market are developing new products such as next-generation foreign exchange platform to gain a competitive edge in the market. A foreign exchange platform is a digital software application or online system that facilitates the trading of currencies in the foreign exchange market. For instance, in October 2023, The BNY Mellon Corporation, a US-based financial services company launched Universal FX. The foreign exchange experience for clients worldwide is improved by Universal FX's ability to give access to both developed and emerging market currency execution. Customers can use this tool to manage their whole portfolio, regardless of whether they settle transactions, custody, or prime broker. Investment managers, corporates, hedge funds, and wealth managers are just a few of the businesses it serves. The platform expands on the OneFX suite of products and banking capabilities for all FX trading, hedging, and cross-border payment activities.
The foreign exchange market report table of contents includes:
1. Executive Summary
2.Foreign Exchange Market Characteristics
3.Foreign Exchange Market Trends And Strategies
4.Foreign Exchange Market analysis
5.Foreign Exchange Market Size And Growth
6.Foreign Exchange Segmentation+
7.Foreign Exchange Regional And Country Analysis
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27.Foreign Exchange Competitive Landscape And Company Profiles
28.Foreign Exchange Key Mergers And Acquisitions
29.Foreign Exchange Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- JPMorgan Chase and Co.
- Citibank N. A.
- HSBC Holdings PLC
- BNP Paribas Société Anonyme
- The Goldman Sachs Group Inc.
- UBS Group AG
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