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Foreign Exchange Market to Grow by USD 582 Billion from 2025-2029, Driven by Urbanization & Digitalization, with AI Redefining Market Trends – Technavio

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NEW YORK, Feb. 7, 2025 /PRNewswire/ — Report with market evolution powered by AI – 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..

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Foreign Exchange Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 10.6%

Market growth 2025-2029

USD 582 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.3

Regional analysis

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

Performing market contribution

Europe at 47%

Key countries

US, UK, Canada, China, Germany, Switzerland,
Japan, India, Brazil, and UAE

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.

Market Driver

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. 

The foreign exchange market operates continuously, providing traders with the opportunity to buy and sell currencies around the clock. This is due to the fact that trades are facilitated through a network of computers and various international time zones. The New York market closing does not halt foreign exchange trading as other markets in different parts of the world remain open. Consequently, when the USD’s closing rate is reported, it signifies the exchange rate at the New York market’s closing time. Money transactions continue globally beyond the New York market’s hours, making the foreign exchange market a dynamic, non-stop marketplace. 

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 Market Challenges

The Foreign Exchange Market, also known as Forex, is a global market where Currencies are bought and sold. It’s a significant part of the Foreign Securities Market, involving Financial Institutions, Non-Financial Customers, and various other players like Individuals, Retailers, Corporate Institutes, and Hedge Funds. International Trade, Interest Rate Differentials, Monetary Interventions, Speculation, Investment Flows, and Economic Indicators influence Forex rates. Political Developments, Risk Appetite, Inflationary Pressures, Retail Forex Trading, and International Transactions are also crucial factors. Modern Technology, Globalization of Businesses, and 24-hour Operation make Forex accessible to Individual Investors, Small Businesses, and Multinational Corporations dealing with Major Currency Pairs. Currency Swaps, Monetary Policies, Regulations, and Central Banks play a crucial role in maintaining Liquidity and Stability. However, challenges like Terrorism Threats, Geopolitical Risks, and Financial Crises can impact Forex trading significantly. Currency Exchange Services, Remittance Services, and Trading Programs help facilitate these transactions efficiently.In foreign trading, the exchange rate uncertainty poses a significant risk. When a deal is finalized, the value of the currencies involved may change before payment is received. For instance, if a buyer agrees to pay USD525,935 for a shipment based on an exchange rate of USD0.85 per Euro, the seller expects to collect €600,000. However, if the Euro depreciates to USD0.84, the seller will only receive €592,000, resulting in a USD8,000 loss. To mitigate this risk, traders employ various hedging strategies or lock in exchange rates at the time of transaction.

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Segment Overview 

This foreign exchange market report extensively covers market segmentation by  

TypeReporting DealersFinancial InstitutionsNon-financial CustomersTrade Finance InstrumentsCurrency SwapsOutright Forward And FX SwapsFX OptionsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaCounterpartyReporting DealersOther Financial InstitutionsNon-Financial Customers

1.1 Reporting dealers-  The foreign exchange market is a crucial financial market where participating institutions hold risky inventory positions during the maturity period. Liquidity providers, who absorb imbalances in the market, are compensated through high returns, reflecting the risk premium associated with non-diversifiable risks. Reporting dealers, as financial entities, provide inter-day liquidity and buy/sell currencies and OTC derivatives for their accounts or customer demand. Liquidity is essential due to dispersed trading and the need for immediacy, with reporting dealers providing accurate information on future currency movements based on order flow. Market growth is expected as dealers with informational advantages minimize liquidity risks. Financial institutions, including US subsidiaries and foreign branches, are reporting dealers.

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Research Analysis

The Foreign Exchange Market, also known as Forex or FX, is a global financial market where currencies are traded. It is the largest and most liquid market in the world, with an average daily trading volume surpassing USD6 trillion. Financial institutions and non-financial customers, including individuals, retailers, corporations, and international trade entities, participate in this market to buy, sell, and exchange currencies. Currency swaps, where two parties exchange principal in one currency and agree to reverse the transaction at a later date in another currency, are common in Forex. Interest rate differentials, monetary interventions, speculation, investment flows, balance of payments, economic indicators, political developments, and IoT insurance market are some of the factors influencing currency values and trading in this market. Banks, corporations, and interbank networks facilitate the trading of currencies in this market. Currencies and foreign exchange rates fluctuate based on supply and demand, with trading volume influenced by various economic and political factors. The Forex market plays a crucial role in facilitating international trade and investment.

Market Research Overview

The Foreign Exchange Market, also known as Forex or FX, is a global financial market where currencies are bought and sold. It functions as a network of financial institutions and deals in the buying, selling, and exchange of currencies for various reasons, including for facilitating international trade and investments. The market is accessible to a wide range of participants, including financial institutions, non-financial customers, individuals, retailers, corporate institutions, and multinational corporations. Currency swaps, interest rate differentials, monetary interventions, speculation, investment flows, economic indicators, political developments, risk appetite, inflationary pressures, and geopolitical risks are some of the factors that influence the Forex market. Modern technology and electronic platforms have made trading more efficient, with 24-hour operation and accessible platforms for individual investors, small businesses, and major corporations. Currency exchange services, remittance services, and foreign exchange rates are essential components of the Forex market. Major currency pairs, such as EUR/USD, USD/JPY, and GBP/USD, dominate the market, with trading volumes reaching billions of dollars daily. The market is influenced by various economic events, financial crises, strategic corporate activities, and hedging strategies. Central banks and regulations play a crucial role in managing monetary policies and maintaining liquidity in the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeReporting DealersFinancial InstitutionsNon-financial CustomersTrade Finance InstrumentsCurrency SwapsOutright Forward And FX SwapsFX OptionsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaCounterpartyReporting DealersOther Financial InstitutionsNon-Financial Customers

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Jack Henry’s Annual Survey of Financial Institutions Highlights Priorities Amid Economic Uncertainty and a New Hybrid Monetary Era

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Banks and credit unions plan to increase technology spending, led by investments in AI, digital banking, and data analytics

MONETT, Mo., April 28, 2026 /PRNewswire/ — Banks and credit unions are prioritizing operational efficiency, deposit growth, and new payment capabilities as they navigate economic uncertainty and increasing technological complexity, according to findings from Jack Henry’s eighth annual Strategy Benchmark.

Jack Henry® (Nasdaq: JKHY) surveyed 193 executives from financial institutions using Jack Henry solutions. The survey highlights the industry’s most pressing strategic priorities, top concerns, and technology investment plans for the next two years.

“Banks and credit unions have finally recognized their biggest competitive threat in Big Fintech and Big Crypto,” says Lee Wetherington, Senior Director of Corporate Strategy and lead author of the benchmark. “As we enter a new hybrid monetary era, the game is changing and charter franchises are under attack. The goal of strategy is no longer simply to win but to ensure you’re competing to win the right game.”

The vast majority of financial institutions plan to increase technology spending, with 88% expecting to raise their tech budgets over the next two years, up from 76% last year. Four in 10 institutions (41%) plan increases of 6% to 10%, compared with 33% a year ago. Artificial intelligence (48%) is the top planned technology investment for the first time, followed by digital banking (38%) and data analytics (32%). While banks remain focused on growing deposits (64%) as their top strategic priority in 2026-2027, credit unions (40%) continue to place outsized emphasis on acquiring younger accountholders (Gen Z/Alpha).

“Financial institutions are in a high-stakes race for Gen Z and small business,” says Jennifer Geis, Senior Strategic Advisor of Corporate Strategy at Jack Henry and Managing Editor of the study. “Given Gen Z now drives most small-business formation—and given small-business deposits are 4-5X larger than retail—understanding and meeting the unique needs of “bizumers” is key to growth, whether you frame it in terms of deposits or demographics.”

Among the highlights from the survey:

PaymentsMore than nine out of 10 CEOs (94%) plan to add new payment services within the next two years, yet only 36% have a formal payments strategy in place.More than four out of five (82%) financial institutions plan to incorporate tap-to-pay as part of their strategy to add younger accountholders.Nearly half (47%) of CEOs plan to embed payments into their digital banking experience over the next two years.Small Business FocusThree out of four CEOs say they plan to expand services for small- and medium-sized businesses (SMBs).The most common planned addition is payment services, including FedNow®, request for payment, and tap-to-pay. 
 Cryptocurrency18% of CEOs plan to support stablecoins, tokenized money, and/or cryptocurrency by the end of 2027. This includes:Tokenized deposits/deposit tokensSupport for on-chain wallets for accountholdersAbility to orchestrate, exchange, and settle dollars to and from stablecoins/crypto.However, only 3% of CEOs report having a formal stablecoin strategy in place.
 Getting YoungerThe second most important strategic priority for credit unions (and fourth overall) is adding younger accountholders. It is also one of the top three concerns for CEOs.More than 40% of credit unions have a formal strategy, compared to just 10% of banks.Fintechs and neobanks are considered the biggest competitive threat in this area.Data analytics and AILeveraging data is the 5th most important strategic priority overall among banks and credit unionsPlans to implement AI grew double digits compared to last year1/3 of FIs plan to embed data collection/analysis tools within digital banking

The study’s results are based on an online survey conducted in January and February 2026 of a diverse sample of Jack Henry clients with assets ranging from less than $500 million to more than $5 billion. Download the eBook to learn more.

About Jack Henry & Associates, Inc.®
Jack Henry® (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,400 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at jackhenry.com.

Statements made in this news release that are not historical facts are “forward-looking statements.” Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company’s Securities and Exchange Commission filings, including the Company’s most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

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SOURCE Jack Henry & Associates, Inc.

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CorroHealth Honored As Stevie® Award Winner In 2026 American Business Awards®

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PLANO, Texas, April 28, 2026 /PRNewswire/ — Leading revenue cycle technology company CorroHealth was named the winner of a Silver Stevie® Award in the Health Provider category in The 24th Annual American Business Awards®.

The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small. This year, the program received more than 3,600 nominations from organizations across virtually every industry.

“We are honored to receive this prestigious award and to be recognized alongside many esteemed American business leaders,” said Pat Leonard, CEO of CorroHealth. “This acknowledgement reflects CorroHealth’s ongoing commitment to the healthcare industry, serving as the leading revenue cycle technology company built for the future of healthcare finance.”

CorroHealth earned recognition for its mission and purpose, transforming healthcare operations and driving innovation to deliver better outcomes for hospitals and health systems. The company was selected after a methodical nomination process and careful evaluation of its industry impact and dedication to bridging the gap between patient care and financial performance.

More than 250 professionals worldwide participated in the judging process to select this year’s Stevie Award winners. One judge who evaluated the nomination stated, “CorroHealth’s blend of expert driven services and AI-powered platforms delivers measurable, enterprise scale financial gains that far exceed industry norms.” The judges also recognized the company as a leader in innovation and operational excellence within the healthcare financial technology sector.

To learn more about CorroHealth, visit corrohealth.com.

About CorroHealth 
CorroHealth, the leading healthcare technology and revenue cycle management company that helps providers and payers improve financial performance through automation, data-driven analytics, and clinically led expertise. CorroHealth delivers integrated, scalable solutions that support complex reimbursement and documentation workflows, backed by a global workforce operating in more than 10 locations, including the United States, United Kingdom, India, and the United Arab Emirates. The company was recently named one of the “Top Places to Work in Healthcare in 2026” by Becker’s Healthcare and a Great Place To Work® Certified™ in India for the second time in two years. Further information is available at corrohealth.com.

About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, the Stevie Awards for Sales & Customer Service, and the new Stevie Awards for Technology Excellence. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes, as well as the people behind them, the Stevies recognize outstanding workplace performance worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Media Contact:
CorroHealth
Mellissa Gardner, Chief Marketing and Strategy Officer
mellissa.gardner@corrohealth.com

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SOURCE CorroHealth

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Singular Genomics Names John Stark as Chief Executive Officer as Company Builds on Spatial Platform Momentum

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SAN DIEGO, April 28, 2026 /PRNewswire/ — Singular Genomics Systems, Inc. today announced the appointment of John Stark as Chief Executive Officer. This leadership transition comes as Singular builds on the launch of its market-leading spatial platform and enters its next phase, focused on expanding adoption, deepening strategic partnerships, and increasing the impact of multimodal spatial data across translational research, drug development, and future clinical applications. Josh Stahl will transition to a new role as Independent Director on the Board.

“With Singular’s G4X platform now successfully on the market, the company is positioned to realize spatial pathology’s potential across translational research and clinical applications,” said Allison Ballmer, Chair of the Board. “Josh strengthened Singular and repositioned the company’s technology, culminating in the successful launch of the G4X platform. John’s leadership experience will now help scale the business and capitalize on the opportunity to drive precision medicine forward.”

John brings more than 25 years of experience commercializing innovative technologies while scaling organizations and raising capital. Most recently, John served as Chief Executive Officer of Resolve Biosciences, a spatial biology platform company, where he drove partnerships and routine use across the translational, drug development, and clinical research markets. Prior to Resolve, John served as Chief Executive Officer of Quantum-Si, a next-generation single-molecule protein sequencing platform company, and Chief Executive Officer of Celsee, a single-cell genomics platform company acquired by Bio-Rad in 2020. Earlier in his career, he held senior leadership positions at Life Technologies, Pacific Biosciences, and Affymetrix.

“Singular has built a competitive spatial platform and a strong foundation in a rapidly evolving market,” said John Stark, CEO. “I’m excited to build on that momentum – deepening partnerships, scaling adoption, and unlocking broader value from spatial data across research, drug development, and precision medicine.”

“We thank Josh Stahl for building an exceptional foundation for Singular, and welcome John Stark, who brings a long history of commercial leadership to the company,” said Andrew ElBardissi, Partner at Deerfield Management. “We remain confident in Singular’s technology, market opportunity, and path to leadership in precision medicine and are committed to supporting the company’s continued growth.”

About Singular Genomics

Singular is a life science technology company focused on delivering high-throughput spatial pathology solutions to advance precision medicine. The company’s G4X™ Spatial Sequencer enables scalable, multiomic analysis directly in tissue, combining performance, throughput, and cost efficiency to support translational research, AI-driven insights, and clinical developments. Singular is headquartered in San Diego, California.

Forward-Looking Statements

Certain statements contained in this press release, other than statements of historical fact, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. Singular Genomics undertakes no obligation to update forward-looking statements, except as required by law.

Media Contact
Darius Fugere
dariusf@singulargenomics.com

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SOURCE Singular Genomics

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