Global Foreign Exchange Services Market Size study & Forecast, by Services, by Providers, by Application, and Regional Analysis, 2023-2030

Description

List of Tables

Global Foreign Exchange Services Market is valued at approximately USD 9.97 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.30% over the forecast period 2023-2030. Foreign Exchange Services are the type of services that offer financial or business services for the conversion of one currency into another. The factor that drives the growth of the market is the rise in foreign trade between countries as globalization has led to international trade because of which trade has increased with the increase in the flow of investment between countries. As per trade outlook of World Trade Organization of April 2023, the world merchandise trade volume is expected to grow by 1.7% in 2023 which is anticipated to increase the demand of the foreign exchange services market. The other factor that drives the growth of the market is the ease of doing business as the rise in the use of digital technologies has altered that the way in which foreign exchange services are given and used which ultimately makes them more practical, makes them quicker and it is accessible to a larger number of clients, which had contributed to the development of market. However, the fluctuations in the economic stability of a country act as a restraining factor for the market.

The opportunity factor for the market is rising global trade and investment as the need for foreign exchange services rise as nations participate in greater global trade. Additionally, these kinds of services enable international trade by allowing individuals as well as companies to change one currency into another. The other opportunity factor is the rise of international money transfers as these remittances, business transactions and so on. Foreign exchange market can provide cost-effective and efficient money transfer services internationally. Thus, it is expected to create opportunities for the market.

The key regions considered for the Global Foreign Exchange Services Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of large banks and financial institutions in the region. North America also provides risk management and currency exchange solutions to individuals and businesses. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as the rise in usage of online foreign exchange services which make it accessible and convenient.

Major market player included in this report are:

Citigroup Inc.
JPMorgan Chase & Co.
HSBC Holdings PLC
American Express Company
Standard Chartered PLC
Deutsche Bank AG
Barclays Bank PLC
Wells Fargo Bank
Goldman Sachs Group Inc.
Western Union Company

Recent Developments in the Market:

In July 2020, a partnership between Western Union and TrueMoney, a prominent provider of financial technologies in Southeast Asia, was recently revealed. The goal of this partnership was to increase the region's access to Western Union's digital money transfer services.
In October 2020, PayPal stated that it can make it possible for Americans to purchase, trade, and store cryptocurrencies such as Bitcoin, Ethereum, and Litecoin using their PayPal accounts. PayPal's foray into the cryptocurrency market was signalled by this action.

Global Foreign Exchange Services Battery Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Services, Providers, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Services:

Currency Exchange
Remittance Services
Foreign Currency Accounts
Others

By Providers:

Banks
Money Transfer Operators
Others

By Application:

Individuals
Businesses

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Foreign Exchange Services Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Foreign Exchange Services Market, by Services, 2020-2030 (USD Billion)
- 1.2.3. Foreign Exchange Services Market, by Providers, 2020-2030 (USD Billion)
- 1.2.4. Foreign Exchange Services Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Foreign Exchange Services Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Providers Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Foreign Exchange Services Market Dynamics

3.1. Foreign Exchange Services Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Rise in foreign trade between countries
  - 3.1.1.2. Ease of doing business
- 3.1.2. Market Challenges
  - 3.1.2.1. Fluctuations in the economic stability of a country
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rising Global trade and investment
  - 3.1.3.2. Rise in International money transfers

Chapter 4. Global Foreign Exchange Services Market Providers Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Providers Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Foreign Exchange Services Market, by Services

5.1. Market Snapshot
5.2. Global Foreign Exchange Services Market by Services, Performance - Potential Analysis
5.3. Global Foreign Exchange Services Market Estimates & Forecasts by Services 2020-2030 (USD Billion)
5.4. Foreign Exchange Services Market, Sub Segment Analysis
- 5.4.1. Currency exchange
- 5.4.2. Remittance services
- 5.4.3. Foreign Currency Accounts
- 5.4.4. Others

Chapter 6. Global Foreign Exchange Services Market, by Providers

6.1. Market Snapshot
6.2. Global Foreign Exchange Services Market by Providers, Performance - Potential Analysis
6.3. Global Foreign Exchange Services Market Estimates & Forecasts by Providers 2020-2030 (USD Billion)
6.4. Foreign Exchange Services Market, Sub Segment Analysis
- 6.4.1. Banks
- 6.4.2. Money transfer Operators
- 6.4.3. Others

Chapter 7. Global Foreign Exchange Services Market, by Application

7.1. Market Snapshot
7.2. Global Foreign Exchange Services Market by Application, Performance - Potential Analysis
7.3. Global Foreign Exchange Services Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Foreign Exchange Services Market, Sub Segment Analysis
- 7.4.1. Individuals
- 7.4.2. Businesses

Chapter 8. Global Foreign Exchange Services Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Foreign Exchange Services Market, Regional Market Snapshot
8.4. North America Foreign Exchange Services Market
- 8.4.1. U.S. Foreign Exchange Services Market
  - 8.4.1.1. Service breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Providers breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Foreign Exchange Services Market
8.5. Europe Foreign Exchange Services Market Snapshot
- 8.5.1. U.K. Foreign Exchange Services Market
- 8.5.2. Germany Foreign Exchange Services Market
- 8.5.3. France Foreign Exchange Services Market
- 8.5.4. Spain Foreign Exchange Services Market
- 8.5.5. Italy Foreign Exchange Services Market
- 8.5.6. Rest of Europe Foreign Exchange Services Market
8.6. Asia-Pacific Foreign Exchange Services Market Snapshot
- 8.6.1. China Foreign Exchange Services Market
- 8.6.2. India Foreign Exchange Services Market
- 8.6.3. Japan Foreign Exchange Services Market
- 8.6.4. Australia Foreign Exchange Services Market
- 8.6.5. South Korea Foreign Exchange Services Market
- 8.6.6. Rest of Asia Pacific Foreign Exchange Services Market
8.7. Latin America Foreign Exchange Services Market Snapshot
- 8.7.1. Brazil Foreign Exchange Services Market
- 8.7.2. Mexico Foreign Exchange Services Market
8.8. Middle East & Africa Foreign Exchange Services Market
- 8.8.1. Saudi Arabia Foreign Exchange Services Market
- 8.8.2. South Africa Foreign Exchange Services Market
- 8.8.3. Rest of Middle East & Africa Foreign Exchange Services Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Citigroup Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. JP Morgan Chase & Co.
- 9.3.3. HSBC Holdings PLC
- 9.3.4. American Express Company
- 9.3.5. Standard Chartered PLC
- 9.3.6. Deutsche Bank AG
- 9.3.7. Barclays Bank PLC
- 9.3.8. Wells Fargo Bank
- 9.3.9. Goldman Sachs Group Inc.
- 9.3.10. Western union Company

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Foreign Exchange Services Market, report scope
TABLE 2. Global Foreign Exchange Services Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Foreign Exchange Services Market estimates & forecasts by Services 2020-2030 (USD Billion)
TABLE 4. Global Foreign Exchange Services Market estimates & forecasts by Providers 2020-2030 (USD Billion)
TABLE 5. Global Foreign Exchange Services Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 6. Global Foreign Exchange Services Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Foreign Exchange Services Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Foreign Exchange Services Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Foreign Exchange Services Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Foreign Exchange Services Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Foreign Exchange Services Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Foreign Exchange Services Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Foreign Exchange Services Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Foreign Exchange Services Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Foreign Exchange Services Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Foreign Exchange Services Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Foreign Exchange Services Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Foreign Exchange Services Market
TABLE 71. List of primary sources, used in the study of global Foreign Exchange Services Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

List of figures

FIG 1. Global Foreign Exchange Services Market, research methodology
FIG 2. Global Foreign Exchange Services Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Foreign Exchange Services Market, key trends 2022
FIG 5. Global Foreign Exchange Services Market, growth prospects 2023-2030
FIG 6. Global Foreign Exchange Services Market, porters 5 force model
FIG 7. Global Foreign Exchange Services Market, pest analysis
FIG 8. Global Foreign Exchange Services Market, value chain analysis
FIG 9. Global Foreign Exchange Services Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Foreign Exchange Services Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Foreign Exchange Services Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Foreign Exchange Services Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Foreign Exchange Services Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Foreign Exchange Services Market, regional snapshot 2020 & 2030
FIG 15. North America Foreign Exchange Services Market 2020 & 2030 (USD Billion)
FIG 16. Europe Foreign Exchange Services Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Foreign Exchange Services Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Foreign Exchange Services Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Foreign Exchange Services Market 2020 & 2030 (USD Billion)