Currency Exchange Bureau Software Market Competitive Landscape

The global market for currency exchange bureau software is expected to generate US$ 1.2 billion in sales by 2032, rising at a 6.4% CAGR. Market expansion will most likely be supported in the coming years by increased government support. The sector is expected to produce US$ 654.4 million in 2022.

The availability of multiple internet-based platforms for currency conversion between nations while ensuring the delivery of products and services in a centralised, secure environment is expanding the business. The availability of outright forward and currency options, as well as other technology advancements, paints a favourable picture for the growth of the currency exchange bureau sector.

As per the analysis, the software segment is anticipated to hold remunerative opportunities for the global currency exchange bureau software market. Various developing countries are making significant developments in their budgets, thereby, offering lucrative opportunities to players in the market.

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Key Takeaways:

By component, the software segment is expected to record a 6.5% CAGR by 2032
By enterprise size, the large enterprise segment to expand at a 6.6% growth rate during the forecast period
The U.S market to garner US$ 432.6 Million and record a 6.1% CAGR from 2022-2032
Market in China to procure US$ 86.8Million, expanding at a 5.7% growth rate during the assessment period

“Increasing use of currency exchange bureau software by various industry verticals such as travel agencies, BFSI, healthcare, resorts, hotels, and retail is expected to fuel the demand of currency exchange bureau software market over the forecast period” says an analyst at Future Market Insights

Competitive Landscape

Eminent players of the global currency exchange bureau software market include Currenex, OANDA, Currency Exchange International, Merkeleon, and Biz4x among others. Recent key developments among players include:

In November 2021-OANDA partners with CONVRS to enhance the account opening process and better engage with clients. The partnership will allow prospective traders in the emerging markets to open a demo account directly from a wide range of messaging apps, making the process simpler than ever. The new integration also enables OANDA to converse with prospects and clients through Facebook Messenger, WhatsApp, LINE, Telegram, and SMS in 53 languages.
In November 2021 – State Street Corporation announced its GlobalLink Division that will combine its Currenex and TradeNeXus into a single platform called GlobalLink FX. Bringing the three businesses together will result in significant benefits for clients including FXConnect Market Monitor, an improved price discovery tool for FXConnect buy-side clients. This enhancement will utilize Currenex streaming price feeds and market data in order to provide clients with a curated view of their liquidity providers, driving better decision-making and execution outcomes.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global currency exchange bureau software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of component (Software, Services) by enterprise size (Small and Medium Enterprise (SMEs), Large enterprises) by Application (Personal, business), and Region (North America, Europe, APAC, Middle East & Africa, and Latin America)

Key Segments Covered in the Currency Exchange Bureau Software Industry Survey

Currency Exchange Bureau Software Market by Component: