Market Size –
The sorting cash machine market size has grown strongly in recent years. It will grow from $1.6 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increased demand for self-service machines, cash handling efficiency, regulatory compliance, increased demand for cashless transactions, adoption of multifunctional atms.
The sorting cash machine market size is expected to see strong growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to high adoption of machines within the retail banking sector in emerging economies, increasing adoption of smart machines across countries, contactless and digital payments, data analytics and reporting, increased cash recycling. Major trends in the forecast period include advancements in security measures, advancements in technology, such as contactless payments and mobile banking, multifunctional machines, increased connectivity, cash automation.
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Scope Of Sorting Cash Machine Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sorting Cash Machine Market Overview
Market Drivers –
An increase in number of grocery stores and supermarkets is expected to propel the growth of the sorting cash machine market going forward. Supermarkets and grocery stores refer to large stores where a variety of groceries and other household supplies are sold. Grocery stores and supermarkets deal with small as well as huge amounts of money and require sorting cash machines to count the notes, give accurate data, and bundle them accordingly. For instance, in September 2022, according to a report published by Reliance Retail, an Indian retail company, in 2023, Reliance Retail opened more than 3,300 new stores. Furthermore, in December 2021, according to Walmart Inc a US-based retail corporation, operated more than 10,500 stores in 24 countries and added more than 500,000 new associates globally in 2020. Therefore, the increasing number of grocery stores and supermarkets is driving the growth of the sorting cash machine market going forward.
The sorting cash machine market covered in this report is segmented –
1) By Type: Notes Sorter, Coins Sorter
2) By Enterprise Size: Large Enterprises, Small and Medium Sized Enterprise
3) By Application: Bank, Supermarket, Hospital, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the sorting cash machine market in 2023. The regions covered in the sorting cash machine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the sorting cash machine market include Bcash Electronics Co., Cummins Allison, De La Rue plc, Giesecke+Devrient GmbH, Glory Global Solutions (International) Limited, GRGBanking, Julong Europe GmbH, Kisan Electronic, Laurel Bank Machines Co.Ltd, Toshiba Infrastructure Systems and Solutions Corporation, Xinda Electronic Equipment Ltd., Guao Electronic, Aditya Systems, Eromart, Cash Processing Solutions., Innovative Technology Ltd., Cassida Corporation, Accubanker, Billcon Corporation, CIMA Cash Handling America Inc., De La Rue plc, Magner Corporation, Ribao Technology, Semacon Business Machines Inc., Suzhou RIBAO Technology Co. Ltd., Talaris, Tellermate, Tidel Engineering LP, Volumatic, Zhejiang Chuan Wei Intelligent Technology Co. Ltd.
Table of Contents
1. Executive Summary
2. Sorting Cash Machine Market Report Structure
3. Sorting Cash Machine Market Trends And Strategies
4. Sorting Cash Machine Market – Macro Economic Scenario
5. Sorting Cash Machine Market Size And Growth
…..
27. Sorting Cash Machine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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