Global Currency Exchange Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Currency Exchange Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Currency exchange software provides exchange solutions for businesses and individuals. They provide automatic currency conversion, historical exchange rates to understand currency market trends, facilitate currency transactions easily and quickly, and help develop the best strategy for executing profitable business.

Market Overview:

The latest research study on the global Currency Exchange Software market finds that the global Currency Exchange Software market reached a value of USD 156.35 million in 2022. It’s expected that the market will achieve USD 282.15 million by 2028, exhibiting a CAGR of 10.34% during the forecast period.

Influence of COVID-19 Outbreak on Currency Exchange Software Industry Development

The epidemic has dealt a great blow to the financial industry. At the same time, the United States has implemented a monetary policy of printing and issuing a large number of US dollars in order to boost the economy in the context of the epidemic, which has left the international exchange rate in turmoil. Therefore, the regulation of foreign exchange markets in various countries is becoming more and more stringent, which brings certain challenges to the currency exchange software industry.
In terms of the demand of downstream companies, the epidemic has caused companies to stop work, the global supply chain has been disrupted, and the demand for foreign exchange has decreased. In terms of personal needs, due to the isolation and blockade of the epidemic, the tourism industry has been hit hard and suffered serious losses. People cannot travel abroad and study abroad, so the demand for foreign currency will naturally decline.
In terms of industry technology, various industries have been affected by the epidemic and have strengthened the research and development of digital technology. The developers of currency exchange software have also further updated their software and developed more functions to improve the consumer experience.

Factors Driving the Market

The exchange rate market has been volatile due to various factors. Few companies try to protect themselves from the large fluctuations in the currency market. Experts or professional software are indispensable for economic and efficient currency exchange. For example, due to currency fluctuations and high transaction costs, British charities are losing money, donations to multinational organizations are often eroded by the foreign exchange market, and the cost of sending money overseas to pay for charitable projects has long plagued the industry. Charities have been severely hit by the pandemic, which has reduced fundraising opportunities and caused many organizations to face serious funding shortages. Charities have been severely hit by the pandemic, which has reduced fundraising opportunities and caused many organizations to face serious funding shortages. It can be seen that foreign exchange costs are another headwind faced by these group executives, and currency exchange software happens to provide a good platform for companies and individuals, so the downstream market demand for well-run currency exchange software will continue to grow.

On the other hand, due to the impact of the epidemic, the exchange of traditional offline financial institutions has been affected. The pandemic has led to increased market volatility and trade interruptions, traditionally rooted in the large trading floors of banks and hedge funds in Hong Kong, London and New York, as offices are closed and workers are quarantined. This has led to the rise of electronic transactions, and currency exchange transactions have embarked on a digital and intelligent trend like other industries.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Tipalti is one of the major players operating in the Currency Exchange Software market, holding a share of 29.16% in 2020.

Tipalti is an accounting software financial technology company that provides companies with comprehensive accounts payable, procurement and global remittance automation solutions.

Clear View System develops the currency exchange software application for money exchange businesses.

Segmentation Overview:

Among different product types, Cloud-based segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the PC Terminal segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Currency Exchange Software market covered in Chapter 3:

Clear View Systems Ltd
Fincode Ltd
Medoc Computers Ltd
Tipalti
CGI Design Inc.
Digital Currency Systems
Cymonz
Cinque Technologies
Wallsoft
4xLabs Pte. Ltd
Calyx Solutions Inc.
FinTechCrowd Limited (Vinit Solutions)
Yodatech Inc.
Oomsys (MoneyExchangeSoft)

In Chapter 4 and Chapter 14.2, on the basis of types, the Currency Exchange Software market from 2018 to 2029 is primarily split into:

On-premise
Cloud-based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Currency Exchange Software market from 2018 to 2029 covers:

PC Terminal
Mobile Terminal

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)