Foreign Exchange Market to Grow by USD 582 Billion from 2025-2029, Driven by Urbanization & Digitalization, Report on AI’s Impact on Market Trends

NEW YORK, Feb. 14, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global foreign exchange market  size is estimated to grow by USD 582 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  10.6%  during the forecast period.  Growing urbanization and digitalization is driving market growth, with a trend towards 24×7 trading opportunities for foreign exchange. However, uncertainty of future exchange rates  poses a challenge. Key market players 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, and XTX Markets Ltd..

Technavio has announced its latest market research report titled Global Foreign Exchange Market 2025-2029
Technavio has announced its latest market research report titled Global Foreign Exchange Market 2025-2029

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2025-2029

Base Year

2024

Historic Data

2019 – 2023

Segment Covered

Type (Reporting dealers, Financial institutions, and Non-financial customers), Trade Finance Instruments (Currency swaps, Outright forward and FX swaps, and FX options), Geography (North America, Europe, APAC, South America, and Middle East and Africa), and Counterparty (Reporting Dealers, Other Financial Institutions, and Non-Financial Customers)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

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, and XTX Markets Ltd.

Key Market Trends Fueling Growth

The Foreign Exchange Market, also known as Forex, is a global market where currencies are bought and sold. Financial institutions and non-financial customers, including individuals, retailers, corporate institutes, and multinational corporations, participate in this market for various reasons. Currency swaps, international trade, interest rate differentials, monetary interventions, speculation, investment flows, and economic indicators are some of the trends influencing Forex. Political developments, risk appetite, inflationary pressures, and geopolitical risks also impact the market. Retail forex trading, international transactions, and currency exchange services are accessible to individuals and small businesses through modern technology and trading platforms. Central banks, monetary policies, regulations, and inflation are key factors affecting Forex rates. Major currency pairs like EUR/USD, GBP/USD, and USD/JPY have high trading volume, with interbank networks and electronic platforms ensuring efficiency in 24-hour operations. Corporates, hedge funds, wealth managers, and foreign exchange services offer advisory services, trading programs, and remittance services to meet diverse needs. Globalization of businesses, GDP growth, investor confidence, liquidity, and economic events influence Forex market dynamics. Financial crises and strategic corporate activities also impact the market, with hedging strategies providing risk management solutions. Personal finance, global commerce, international travel, and online shopping are some areas where Forex plays a crucial role.

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