Global Foreign Exchange Market 2024-2028

The foreign exchange market is forecasted to grow by USD 516.48 bn during 2023-2028, accelerating at a CAGR of 10.31% during the forecast period. The report on the foreign exchange market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing urbanization and digitalization, foreign exchange increases market liquidity, and increases central bank interest rates.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	8.82%
CAGR	10.31%
Incremental Value	$516.48bn

Technavio's foreign exchange market is segmented as below:

By Type

Reporting dealers
Other financial institutions
Non-financial customers

By Trade Finance Instruments

Currency swaps
Outright forward and FX swaps
FX options

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the 24x7 trading opportunities for foreign exchange as one of the prime reasons driving the foreign exchange market growth during the next few years. Also, trading options in foreign exchange and market transparency in trading will lead to sizable demand in the market.

The report on the foreign exchange market covers the following areas:

Foreign exchange market sizing
Foreign exchange market forecast
Foreign exchange market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading foreign exchange market vendors that include Bank of America Corp., Barclays PLC, BNP Paribas SA, Citigroup Inc., Commonwealth Bank of Australia, DBS Bank Ltd., Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase and Co., London Stock Exchange Group plc, NatWest Group plc, Societe Generale SA, Standard Chartered PLC, State Street Corp., The Bank of Nova Scotia, The Goldman Sachs Group Inc., UBS Group AG, Westpac Banking Corp., and XTX Markets Ltd.. Also, the foreign exchange market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR73392

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by Trade Finance Instruments
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global foreign exchange market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global foreign exchange market 2018 - 2022 ($ billion)
4.2 Type Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.3 Trade finance instruments Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Trade finance instruments Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Type

6.1 Market segments
Exhibit 30: Chart on Type - Market share 2023-2028 (%)
Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
6.2 Comparison by Type
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
6.3 Reporting dealers - Market size and forecast 2023-2028
Exhibit 34: Chart on Reporting dealers - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Reporting dealers - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Reporting dealers - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Reporting dealers - Year-over-year growth 2023-2028 (%)
6.4 Financial institutions - Market size and forecast 2023-2028
Exhibit 38: Chart on Financial institutions - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Financial institutions - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Financial institutions - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Financial institutions - Year-over-year growth 2023-2028 (%)
6.5 Non-financial customers - Market size and forecast 2023-2028
Exhibit 42: Chart on Non-financial customers - Market size and forecast 2023-2028 ($ billion)
Exhibit 43: Data Table on Non-financial customers - Market size and forecast 2023-2028 ($ billion)
Exhibit 44: Chart on Non-financial customers - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Non-financial customers - Year-over-year growth 2023-2028 (%)
6.6 Market opportunity by Type
Exhibit 46: Market opportunity by Type ($ billion)
Exhibit 47: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Trade Finance Instruments

7.1 Market segments
Exhibit 48: Chart on Trade Finance Instruments - Market share 2023-2028 (%)
Exhibit 49: Data Table on Trade Finance Instruments - Market share 2023-2028 (%)
7.2 Comparison by Trade Finance Instruments
Exhibit 50: Chart on Comparison by Trade Finance Instruments
Exhibit 51: Data Table on Comparison by Trade Finance Instruments
7.3 Currency swaps - Market size and forecast 2023-2028
Exhibit 52: Chart on Currency swaps - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Data Table on Currency swaps - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Chart on Currency swaps - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Currency swaps - Year-over-year growth 2023-2028 (%)
7.4 Outright forward and FX swaps - Market size and forecast 2023-2028
Exhibit 56: Chart on Outright forward and FX swaps - Market size and forecast 2023-2028 ($ billion)
Exhibit 57: Data Table on Outright forward and FX swaps - Market size and forecast 2023-2028 ($ billion)
Exhibit 58: Chart on Outright forward and FX swaps - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Outright forward and FX swaps - Year-over-year growth 2023-2028 (%)
7.5 FX options - Market size and forecast 2023-2028
Exhibit 60: Chart on FX options - Market size and forecast 2023-2028 ($ billion)
Exhibit 61: Data Table on FX options - Market size and forecast 2023-2028 ($ billion)
Exhibit 62: Chart on FX options - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on FX options - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Trade Finance Instruments
Exhibit 64: Market opportunity by Trade Finance Instruments ($ billion)
Exhibit 65: Data Table on Market opportunity by Trade Finance Instruments ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 67: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 68: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 69: Chart on Geographic comparison
Exhibit 70: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 UK - Market size and forecast 2023-2028
Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.10 China - Market size and forecast 2023-2028
Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
9.11 Japan - Market size and forecast 2023-2028
Exhibit 103: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 104: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 105: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.12 Switzerland - Market size and forecast 2023-2028
Exhibit 107: Chart on Switzerland - Market size and forecast 2023-2028 ($ billion)
Exhibit 108: Data Table on Switzerland - Market size and forecast 2023-2028 ($ billion)
Exhibit 109: Chart on Switzerland - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on Switzerland - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 111: Market opportunity By Geographical Landscape ($ billion)
Exhibit 112: Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 113: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 115: Overview on factors of disruption
11.4 Industry risks
Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 117: Vendors covered
12.2 Market positioning of vendors
Exhibit 118: Matrix on vendor position and classification
12.3 Bank of America Corp.
Exhibit 119: Bank of America Corp. - Overview
Exhibit 120: Bank of America Corp. - Business segments
Exhibit 121: Bank of America Corp. - Key news
Exhibit 122: Bank of America Corp. - Key offerings
Exhibit 123: Bank of America Corp. - Segment focus
12.4 Barclays PLC
Exhibit 124: Barclays PLC - Overview
Exhibit 125: Barclays PLC - Business segments
Exhibit 126: Barclays PLC - Key news
Exhibit 127: Barclays PLC - Key offerings
Exhibit 128: Barclays PLC - Segment focus
12.5 BNP Paribas SA
Exhibit 129: BNP Paribas SA - Overview
Exhibit 130: BNP Paribas SA - Business segments
Exhibit 131: BNP Paribas SA - Key offerings
Exhibit 132: BNP Paribas SA - Segment focus
12.6 Citigroup Inc.
Exhibit 133: Citigroup Inc. - Overview
Exhibit 134: Citigroup Inc. - Business segments
Exhibit 135: Citigroup Inc. - Key offerings
Exhibit 136: Citigroup Inc. - Segment focus
12.7 Commonwealth Bank of Australia
Exhibit 137: Commonwealth Bank of Australia - Overview
Exhibit 138: Commonwealth Bank of Australia - Business segments
Exhibit 139: Commonwealth Bank of Australia - Key offerings
Exhibit 140: Commonwealth Bank of Australia - Segment focus
12.8 DBS Bank Ltd.
Exhibit 141: DBS Bank Ltd. - Overview
Exhibit 142: DBS Bank Ltd. - Business segments
Exhibit 143: DBS Bank Ltd. - Key offerings
Exhibit 144: DBS Bank Ltd. - Segment focus
12.9 Deutsche Bank AG
Exhibit 145: Deutsche Bank AG - Overview
Exhibit 146: Deutsche Bank AG - Business segments
Exhibit 147: Deutsche Bank AG - Key news
Exhibit 148: Deutsche Bank AG - Key offerings
Exhibit 149: Deutsche Bank AG - Segment focus
12.10 HSBC Holdings Plc
Exhibit 150: HSBC Holdings Plc - Overview
Exhibit 151: HSBC Holdings Plc - Business segments
Exhibit 152: HSBC Holdings Plc - Key news
Exhibit 153: HSBC Holdings Plc - Key offerings
Exhibit 154: HSBC Holdings Plc - Segment focus
12.11 JPMorgan Chase and Co.
Exhibit 155: JPMorgan Chase and Co. - Overview
Exhibit 156: JPMorgan Chase and Co. - Business segments
Exhibit 157: JPMorgan Chase and Co. - Key offerings
Exhibit 158: JPMorgan Chase and Co. - Segment focus
12.12 NatWest Group plc
Exhibit 159: NatWest Group plc - Overview
Exhibit 160: NatWest Group plc - Business segments
Exhibit 161: NatWest Group plc - Key offerings
Exhibit 162: NatWest Group plc - Segment focus
12.13 Societe Generale SA
Exhibit 163: Societe Generale SA - Overview
Exhibit 164: Societe Generale SA - Business segments
Exhibit 165: Societe Generale SA - Key offerings
Exhibit 166: Societe Generale SA - Segment focus
12.14 Standard Chartered PLC
Exhibit 167: Standard Chartered PLC - Overview
Exhibit 168: Standard Chartered PLC - Business segments
Exhibit 169: Standard Chartered PLC - Key offerings
Exhibit 170: Standard Chartered PLC - Segment focus
12.15 State Street Corp.
Exhibit 171: State Street Corp. - Overview
Exhibit 172: State Street Corp. - Business segments
Exhibit 173: State Street Corp. - Key offerings
Exhibit 174: State Street Corp. - Segment focus
12.16 The Goldman Sachs Group Inc.
Exhibit 175: The Goldman Sachs Group Inc. - Overview
Exhibit 176: The Goldman Sachs Group Inc. - Business segments
Exhibit 177: The Goldman Sachs Group Inc. - Key news
Exhibit 178: The Goldman Sachs Group Inc. - Key offerings
Exhibit 179: The Goldman Sachs Group Inc. - Segment focus
12.17 UBS Group AG
Exhibit 180: UBS Group AG - Overview
Exhibit 181: UBS Group AG - Business segments
Exhibit 182: UBS Group AG - Key offerings
Exhibit 183: UBS Group AG - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 184: Inclusions checklist
Exhibit 185: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 186: Currency conversion rates for US$
13.4 Research methodology
Exhibit 187: Research methodology
Exhibit 188: Validation techniques employed for market sizing
Exhibit 189: Information sources
13.5 List of abbreviations
Exhibit 190: List of abbreviations