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レポート概要
| 本調査資料では、世界の両替ソフトウェア市場について調査し、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、展開別（オンプレミス、クラウドベース）分析、種類別（PC端末、携帯端末）分析、地域別分析、競争状況、投資分析、市場機会/将来の見通しなどを掲載しています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・世界の両替ソフトウェア市場規模：展開別（オンプレミス、クラウドベース） ・世界の両替ソフトウェア市場規模：種類別（PC端末、携帯端末） ・世界の両替ソフトウェア市場規模：地域別 ・競争状況 ・投資分析 ・市場機会/将来の見通し |
The currency exchange software market is expected to register a CAGR of 12.50% during the forecast period from 2021 – 2026. With foreign exchange volatility has fallen over the past few years since the record levels of liquidity provided by the central banks have calmed the markets, it has left investors with separate ways to wring a profit from the trading currencies. As per the Deutsche bank, the end of 2019 experienced slowdown across all currencies, including the commodity currencies, the Scandinavian and the EUR crosses, and even GBP, because of the most significant political upheavals saw lower volatility.
– Also, the excessive currency spreads and hefty bank charges for payments that cross national borders have been affecting the individuals as well as merchants. Considering Europe, alternatives to traditional banks for remittance were prevalent. On the other hand, such a trend has been emerging in Asia with the growing fintech activity and increased investments in Southeast Asia. This has opened a space in the money transfer market with players using technology can provide transparency on price. For instance, TransferWise, a startup valued at USD 3.5 billion, offers a solution that uses algorithms to predict which country will need liquidity, when, and top up the bucket accordingly with its own.
– This has opened a space in the money transfer market with players using technology can provide transparency on price. For instance, TransferWise, a startup valued at USD 3.5 billion, offers a solution that uses algorithms to predict which country will need liquidity, when, and top up the bucket accordingly with its own. Also, as of June 2019, Send4x offered the best Remittance Rates amongst Money Transfer Companies present across Asia. With the launch of a price discovery platform, Send4x for money transfer led the users to discover the cheapest and fastest ways to send money. Companies, such as Azimo, InstaReM, OrbitRemit, SendFX, TransferWise, and WorldFirst, became the initial providers on the platform.
– In June 2019, the Clearing Corporation of India Ltd (CCIL) was set to launch a centralized electronic forex trading platform named FX-Retail. This platform will cater to individual and small and medium enterprise customers. The platform is aimed to overlook better pricing and complete transparency and better reference rate to retail customers in the country. Recently in March 2020, global payments and e-commerce services provider PingPong Payments announced its payment processing and currency exchange service for the UAE currency, the Arab Emirates dollar (AED). This initiative encourages open access to the fast-growing MENA market for the United States and international products and services sellers.
– With the rise in the Bitcoin price, more players in the market are trying to enter, so the exchange business has become a lucrative business model. Moreover, as global markets for products and services tighten due to the COVID-19 pandemic outbreak, the United States and other global sellers are expected to benefit from overseas consumer and business markets to expand revenues to compensate for domestic sales shortfalls. But with the impact of the COVID-19 pandemic sending exchange rates upside down, companies realize there’s a hidden danger to not managing their currency exchange risk. All these factors would supplement the growth of currency exchange software.
Key Market Trends
Cloud Segment is Expected to Hold the Major Share
– Cloud-based systems are cost-effective, as they can use the software on a pay-per-use basis. Enterprises have various benefits as the cloud-based software offers advantages, including low maintenance costs, the limited requirement for hardware infrastructure, more accessible and faster implementation of IT solutions, and less dependency on in-house IT personnel with no licensing fees. The technology can be deployed for financial institutions on a cloud infrastructure where the services are accessible online or on mobile and are available through APIs that can be integrated into the existing system.
– Moreover, enterprises can access data and services through web-based platforms, such as web browsing. The short implementation time also reduces the cost of implementation, thereby improving the return on investment (ROI). Various companies in the market, such as 4xLabs Pte. Ltd is focusing on software design, architecture and testing, automation of processes with continuous integration, and a deployment system by leveraging the cloud.
– In January 2020, Euronet has changed the name of its API-accessible and cloud-based payments solution from the Digital Integrated Payments Cloud to the REV Payments Cloud. The product’s technology remains the same as its purpose of providing developers API access to Euronet’s software technology and platforms (payments, issuing, compliance, currency exchange, etc.) as services and the company’s network of ATMs, POS terminals, and Ria Money Transfer locations.
– In February 2020, Binance announced that it would launch a digital asset trading platform that can be rebranded by smaller exchanges for their local markets. Binance Cloud will offer local exchanges spot market and futures trading, as well as regional bank API integrations and peer-to-peer (P2P) fiat-to-crypto currency exchange services. Implementing a product like Binance Cloud would relieve potential exchange operators of the software burdens involved in security and scalability.
North America is Expected to Hold Major Share
– The region houses a vast number of enterprises among the small money transfer firms, travel agencies, and forex fixing companies. Also influenced by the adequate and upgraded IT infrastructure availability and dispersion for foreign exchange organizations and money transfer firms, are coupling to boost the market for the development of currency exchange software in the region. The Foreign Exchange products sellers globally are partnering with the leading United States brokers to enter a lucrative market.
– For instance, in July 2019, AFEX got selected by The Money Cloud, a UK-based FX marketplace platform for consumers and businesses, as its FX partner to mark an entry into the United States. AFEX is a foreign exchange specialist that offers customizable global payments and API solutions. The Money Cloud’s platform for businesses and private clients make the process of comparing international exchange rates secure and transparent. The platform additionally, allows clients to send money to multiple beneficiaries using different brokers
– A home-grown company, CXI, in December 2019, developed a strategic relationship with Duty-Free Americas Inc. as its exclusive foreign currency provider. Such expansion strategies in the country are aiding the retail stores with additional revenues by leveraging on technology amidst the competitive exchange rates. Recently, in April 2020, Derivative Path Inc, a cloud financial technology company across interest rate derivatives and FX, partnered with Currencycloud, an offeror of embedded FX and B2B cross-border payments platforms, this is in line with aiding the community and regional banks with a full-scale solution to manage and grow their FX programs.
– Considering the Canadian and American cross border transactions, for every USD 50,000 that is transferring back into Canadian dollars, people pay up around USD 1,265 in currency exchange fees, excluding the cost of the wire transfers. Major Canadian small businesses are operating on a 2% to 7% margin, have been realizing revenue cuts because of banking charges. Such a scenario has led to the onset of online money transfers. The vendors and the users have adapted quickly to evade from paying up higher remittance charges.
Competitive Landscape
The currency exchange software market is quite fragmented and consists of several players where a significant number of the players are currently dominating the market. With the innovation across software advancement, most of the companies are expanding their market presence, thereby securing new contracts by tapping into the unique demands of the emerging economies. The market is even witnessing various mergers and acquisitions.
– April 2020 – GAIN Capital Holdings Inc. was expected to be acquired by INTL FCStone Inc. Such acquisition is suggestive of bringing together GAIN’s expertise across retail customer and INTL’s access to the financial markets. The combining assets and knowledge of both companies will create a value proposition that enables low-cost access to foreign exchange markets.
– January 2020 – Broadway Technology has rolled out extensive new functionality for repurchase agreement (repo) trading on its FICC trading platform, introducing complete and automated workflows for trading, hedging, and collateral management on a global scale. It encompasses connectivity to multiple repo markets, order routing and management, and execution tools to help minimize market impact and maximize quality, pricing, and automated hedging.
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1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Assessment of COVID -19 Impact on the Industry
4.5 Market Drivers
4.5.1 Increasing Number of International Transactions
4.5.2 Growing Investments in the Fin-tech Industry
4.6 Market Restraints
4.6.1 High Transaction Charges
5 MARKET SEGMENTATION
5.1 Deployment
5.1.1 On-premise
5.1.2 Cloud-based
5.2 Type
5.2.1 PC Terminal
5.2.2 Mobile Terminal
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Calyx Solutions Inc.
6.1.2 Clear View Systems Ltd
6.1.3 Digital Currency Systems
6.1.4 MoneyExchangeSoft
6.1.5 Yodatech Inc.
6.1.6 Broadway Technology, LLC
6.1.7 4xLabs Pte. Ltd
6.1.8 CGI Design Inc.
6.1.9 Cymonz
6.1.10 Fincode Ltd
6.1.11 Medoc Computers Ltd
6.1.12 Cinque Technologies
6.1.13 Vinit Solutions Ltd
6.1.14 Wallsoft
6.1.15 Merkeleon GmbH
6.1.16 FinTech Crowd
6.1.17 Oanda Corporation
6.1.18 Minerva Technology Solutions Ltd
6.1.19 GAIN Capital Holdings Inc.
6.1.20 Thinkorswim (TD Ameritrade Holding Corp)
6.1.21 FXCM (Jefferies Financial Group)
6.1.22 Currency Exchange International Corp.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS