Coin Sorter Market to grow at a CAGR of 6.8% till 2023

The Coin Sorter Market is in its growth phase, and is expected to grow at a CAGR of 6.8% during the forecast period. The global Coin Sorter Market was valued at $3,486 million in 2016 and is projected to reach $5,415 million by 2023. Organizations focus on improving their product offering to cater to the rise in market demands, which drive the market growth during the forecast period. North America was the highest shareholder, in terms of revenue, while Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

North America generated the highest revenue in 2016, due to the development of retail industry & banking sector and increase in adoption of coin sorters. The Asia-Pacific Coin Sorter Market is expected to grow at the highest rate during the forecast period, owing to the remarkable economic growth in Southeast Asia, India & other economies and need for advanced products to facilitate hassle-free working of highly cash-intensive businesses.

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Growth associated with commercial banks & retail industry, demand for automated cash-handling products, surge in demand for technologically advanced self-service machines, and increased application areas drives the coin sorter market growth. In addition, initiatives by commercial banks towards the adoption coin sorter machines are expected to propel the market growth. For instance, in May 2017, Siam Commercial Bank announced to implement machines that facilitate the deposition of coins into their bank accounts.

Key Findings of the Coin Sorter Market:

The small size coin sorter segment accounted for the highest share of the global coin sorter industry in 2016, growing at a CAGR of 6.3% from 2017 to 2023. The North America coin sorter market generated the highest share, accounting for $1,467 million in 2016. The coin sorter market for large size coin sorter segment is expected to witness the highest growth rate during the forecast period.

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Key Players of the Coin Sorter Market:

The key players of the Coin Sorter Market are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, Delarue, Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co. Ltd., BCash and CT Coin.

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