Product Code: TIPRE00022922
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.
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.
Impact of COVID-19 Pandemic on Europe Sorting Cash Machine Market
Russia, France, Italy, the UK, Spain, and Germany were some of the worst-affected member states by the COVID-19 outbreak in the European region. Businesses in the region faced severe economic difficulties as they had to either suspend their operations or reduce their activities in a substantial manner. Owing to business lockdowns, travel bans, and supply chain disruptions, the region witnessed an economic slowdown in 2020. The member states of Europe, such as Italy, Spain, and Germany, implemented drastic measures and travel restrictions to limit the spread of novel coronavirus among their citizens. European countries represent a major market for digital payments due to the adoption of cloud and mobile technologies in the BFSI sector. The region has also witnessed a growth in the number of fintech. European countries increased their contactless limits, and the demand for digital banking services doubled in various countries in the region. The pandemic boosted the digitization of the banking sector since customer expectations changed during the pandemic. This potential digital change would support banks to cope with the tougher operating environment that COVID-19 has brought.
The sorting cash machine market has been segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America led the sorting cash machine market with a revenue share of 35.80% in 2020. The promising market growth in this region is ascribed to the presence of multiple sorting cash machine providers. Players such as Cummins Allison; Laurel Bank Machines Co., Ltd; and Cash Processing Solutions have their footprints in North America. These companies are addressing the business requirements of supermarkets, banks, and other users. Further, the presence of many banks in the region, especially in the US, is another prevailing factor boosting the demand for sorting cash machines. Asia Pacific is estimated to register the highest CAGR in the sorting cash machine market during the forecast period because of many emerging economies such as China, India, Japan, Australia, and South Korea. The number of supermarkets present in countries such as Japan, Thailand, Singapore, Taiwan, Malaysia, the Philippines, Indonesia, and China is enormously high, which is expected to create lucrative growth opportunities for the sorting cash machine market. Additionally, the footprints of significant note counting machine brands in India, such as Smars, VMS, Gobbler, SToK, and Swaggers, are expected to contribute to the market growth during the forecast period. Thus, the demand and supply of sorting cash machines in APAC are progressing at the same pace.
Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan are the key players operating in the global sorting cash machine market.
The overall global sorting cash machine market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the sorting cash machine market. The process also serves the purpose of obtaining an overview and forecast of the sorting cash machine market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the sorting cash machine market.
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
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
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
- 9.1 Overview
- 9.2 North America: Sorting Cash Machine Market
- 9.2.1 Overview
- 9.2.2 North America Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.2.3 North America Sorting Cash Machine Market Breakdown, By Type
- 9.2.4 North America Sorting Cash Machine Market Breakdown, By Application
- 9.2.5 North America Sorting Cash Machine Market Breakdown, by Country
- 9.2.5.1 US Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.2.5.1.1 US Sorting Cash Machine Market Breakdown, By Type
- 9.2.5.1.2 US Sorting Cash Machine Market Breakdown, By Application
- 9.2.5.2 Canada Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.2.5.2.1 Canada Sorting Cash Machine Market Breakdown, By Type
- 9.2.5.2.2 Canada Sorting Cash Machine Market Breakdown, By Application
- 9.2.5.3 Mexico Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.2.5.3.1 Mexico Sorting Cash Machine Market Breakdown, By Type
- 9.2.5.3.2 Mexico Sorting Cash Machine Market Breakdown, By Application
- 9.3 Europe: Sorting Cash Machine Market
- 9.3.1 Overview
- 9.3.2 Europe: Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
- 9.3.3 Europe Sorting Cash Machine Market Breakdown, By Type
- 9.3.4 Europe Sorting Cash Machine Market Breakdown, By Application
- 9.3.5 Europe Sorting Cash Machine Market Breakdown, by Country
- 9.3.5.1 Germany Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.1.1 Germany Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.1.2 Germany Sorting Cash Machine Market Breakdown, By Application
- 9.3.5.2 France Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.2.1 France Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.2.2 France Sorting Cash Machine Market Breakdown, By Application
- 9.3.5.3 Italy Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.3.1 Italy Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.3.2 Italy Sorting Cash Machine Market Breakdown, By Application
- 9.3.5.4 UK Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.4.1 UK Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.4.2 UK Sorting Cash Machine Market Breakdown, By Application
- 9.3.5.5 Russia Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.5.1 Russia Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.5.2 Russia Sorting Cash Machine Market Breakdown, By Application
- 9.3.5.6 Rest of Europe Sorting Cash Machine Market, Revenue and Forecast to 2028
- 9.3.5.6.1 Rest of Europe Sorting Cash Machine Market Breakdown, By Type
- 9.3.5.6.2 Rest of Europe Sorting Cash Machine Market Breakdown, By Application
- 9.4 APAC: Sorting Cash Machine Market
- 9.4.1 Overview
- 9.4.2 APAC Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.3 APAC Sorting Cash Machine Market Breakdown, By Type
- 9.4.4 APAC Sorting Cash Machine Market Breakdown, By Application
- 9.4.5 APAC Sorting Cash Machine Market Breakdown, by Country
- 9.4.5.1 China Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.1.1 China Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.1.2 China Sorting Cash Machine Market Breakdown, By Application
- 9.4.5.2 India Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.2.1 India Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.2.2 India Sorting Cash Machine Market Breakdown, By Application
- 9.4.5.3 Japan Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.3.1 Japan Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.3.2 Japan Sorting Cash Machine Market Breakdown, By Application
- 9.4.5.4 South Korea Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.4.1 South Korea Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.4.2 South Korea Sorting Cash Machine Market Breakdown, By Application
- 9.4.5.5 Australia Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.5.1 Australia Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.5.2 Australia Sorting Cash Machine Market Breakdown, By Application
- 9.4.5.6 Rest of APAC Sorting Cash Machine Market, Revenue and Forecast to 2028 (US$ Million)
- 9.4.5.6.1 Rest of APAC Sorting Cash Machine Market Breakdown, By Type
- 9.4.5.6.2 Rest of APAC Sorting Cash Machine Market Breakdown, By Application
- 9.5 MEA: Sorting Cash Machine Market
- 9.5.1 MEA: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.2 MEA: Sorting Cash Machine Market- by Type
- 9.5.3 MEA: Sorting Cash Machine Market- by Application
- 9.5.4 MEA: Sorting Cash Machine Market- by Key Country
- 9.5.4.1 South Africa: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.4.1.1 South Africa: Sorting Cash Machine Market- by Type
- 9.5.4.1.2 South Africa: Sorting Cash Machine Market- by Application
- 9.5.4.2 Saudi Arabia: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.4.2.1 Saudi Arabia: Sorting Cash Machine Market- by Type
- 9.5.4.2.2 Saudi Arabia: Sorting Cash Machine Market- by Application
- 9.5.4.3 UAE: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.4.3.1 UAE: Sorting Cash Machine Market- by Type
- 9.5.4.3.2 UAE: Wind Turbine Foundation Market- by Application
- 9.5.4.4 Rest of MEA: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.4.4.1 Rest of MEA: Sorting Cash Machine Market- by Type
- 9.5.4.4.2 Rest of MEA: Sorting Cash Machine Market- by Application
- 9.6 SAM: Sorting Cash Machine Market
- 9.6.1 SAM: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6.2 SAM: Sorting Cash Machine Market- by Type
- 9.6.3 SAM: Sorting Cash Machine Market- by Application
- 9.6.4 SAM: Sorting Cash Machine Market- by Key Country
- 9.6.4.1 Brazil: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6.4.1.1 Brazil: Sorting Cash Machine Market- by Type
- 9.6.4.1.2 Brazil: Sorting Cash Machine Market- by Application
- 9.6.4.2 Argentina: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6.4.2.1 Argentina: Sorting Cash Machine Market- by Type
- 9.6.4.2.2 Argentina: Sorting Cash Machine Market- by Application
- 9.6.4.3 Rest of SAM: Sorting Cash Machine Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6.4.3.1 Rest of SAM: Sorting Cash Machine Market- by Type
- 9.6.4.3.2 Rest of SAM: Sorting Cash Machine Market- by Application
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
- 13.1 About The Insight Partners
- 13.2 Word Index