Dublin, May 16, 2022 (GLOBE NEWSWIRE) -- The "Global Sorting Cash Machine Market Forecast to 2028 - by Type and Application" report has been added to ResearchAndMarkets.com's offering.
The sorting cash machine market was valued at US$ 1,539.16 million in 2020 and is expected to reach US$ 1,988.26 million by 2028 with a CAGR growth rate of 3.7% during the forecast period from 2021 to 2028.
Sorting cash machines are used in various cash-intensive enterprises and financial institutions, such as retail stores, casinos, commercial banks, and other spaces. Some innovations in cash sorting machines, like weight-based cash sorting, are facilitating their implementation at an advanced level.
This factor is contributing to the growth of the sorting cash machine market. Besides the factors mentioned above, the improvement in living standards, advancements in product technologies, and untapped market opportunities in emerging economies are some factors anticipated to boost the sorting cash machine market in the near future. There are more behavioral benefits of utilizing this machine, like fewer errors in sorting and counting with lower operational costs, fewer financial losses, and fewer internal risks resulting from counting and sorting.
However, the rising prevalence of digital payments and payment wallets in general stores is limiting the penetration of sorting cash machines in retail outlets and banks. This, in turn, will hamper the sorting cash machine market growth.
Market participants have developed a new technology for cash sorting machines with security measures to prevent cash counterfeiting. Regulation (EU) No. 1210/2010 of the European Parliament is implemented to avoid counterfeiting currency and protect the sorting cash process. As per the Reserve Bank of India (RBI) mandate, banks shall maintain a daily record of notes processed through these machines, including the number of counterfeits detected. The BPS X9 holds the world record for cash counting with a throughput of up to 44 banknotes per second. The number of bank branches in developing countries, like China and India, is rapidly increasing due to a large base of rural and semi-urban customers. This is further propelling the growth of the sorting cash machine market.
The sorting cash machine market is analyzed based on type and application. Based on type, the sorting cash machine market is bifurcated into banknote sorter and coin sorter. Based on application, the sorting cash machine market is segmented into banks, supermarkets, and others. Geographically, the sorting cash machine market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Key Findings of Study:
Advancements in technology aid the expansion of the sorting cash machine market in product technology. The sorting cash machine market is being driven by several advances in cash sorting machines, such as weight-based cash sorting, which allows for better use of cash.
Modern machines place a premium on efficiency, which saves time and improves a company's operating efficiency. The European government controls the use of coin sorter machines under Regulation (EU) No 1210/2010 to prevent currency counterfeiting and authenticate cash counting and sorting procedures. To receive clearance for distributing cash sorting machines in the Europe market, manufacturers must meet the acceptance criteria stated in the Commission guidelines.
Cash sorting machines with the appropriate security measures to prevent cash counterfeiting are being developed by market participants using next-generation technologies. Manufacturers are attempting to consolidate a better position in the market by providing these machines with dependability algorithms and cash detection systems.
While security, accuracy, and efficiency remain the most critical aspects of cash sorting machines, manufacturers increasingly include configurable touchscreen displays, machine graphics, and hands-free cash handling. Manufacturers and distributors are applying sophisticated technologies to incorporate unique and top-notch security features in cash sorting machines to gain a competitive edge. The sorting cash machine market is predicted to increase at a moderate rate during the forecast period, owing to various market dynamics, such as lower cash usage and advanced security features.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global sorting cash machine market
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- The key findings and recommendations highlight crucial progressive industry trends in the global sorting cash machine market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Sorting Cash Machine Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Sorting Cash Machine Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand from Different End-Use Industries
5.1.2 Various Benefits Offered by Cash Sorting Machines
5.2 Market Restraints
5.2.1 Penetration of Digital Transaction Solutions
5.3 Market Opportunities
5.3.1 Increasing Penetration of Supermarkets in Developing Countries
5.4 Future Trends
5.4.1 Technological Advancements in Cash Sorting Machines
6. Sorting Cash Machine Market - Global Analysis
6.1 Sorting Cash Machine Global Overview
6.2 Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Sorting Cash Machine Market - Type
7.1 Overview
7.2 Sorting Cash Machine Market Breakdown, By Type (2020 and 2028)
7.3 Bank Note Sorter
7.3.1 Overview
7.3.2 Bank Note Sorter: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
7.4 Coin Sorter
7.4.1 Overview
7.4.2 Coin sorter: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
8. Sorting Cash Machine Market - By Application
8.1 Overview
8.2 Sorting Cash Machine Market Breakdown, By Application (2020 and 2028)
8.3 Bank
8.3.1 Overview
8.3.2 Bank: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
8.4 Super Market
8.4.1 Overview
8.4.2 Super Market: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
9. Sorting Cash Machine Market - Geographic Analysis
10. Sorting Cash Machine Market- COVID-19 Impact Analysis
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 South America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
12.1 CUMMINS ALLISON
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 BCASH, ELECTRONICS CO
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 De La Rue PLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Giesecke Devrient GmbH
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 GLORY GLOBAL SOLUTIONS (INTERNATIONAL) LIMITED
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 GRG Banking
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Toshiba Infrastructure Systems and Solutions Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Kisan Electronics Co Ltd.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Julong Europe GMBH
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Laurel Bank Machines Co Ltd.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/6fdp1s
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