Foreign Exchange Market to grow by USD 582 Billion (2025-2029), driven by urbanization and digitalization, Report on how AI is redefining the market landscape 

​PR Newswire 9 min readNEW YORK, Feb. 2, 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.. Technavio has announced its latest market research report titled Global Foreign Exchange Market 2025-2029 Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF 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 DriverThe 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 curr