Press release
Coin sorter market is projected to reach $5,415 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023.
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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.
The small size coin sorter segment contributed the highest share, accounting for $1,575 million in 2016, and is projected to grow at the CAGR of 6.3% during the forecast period. However, the coin sorter market for large size coin sorters is projected to grow at the highest rate of 7.6%.
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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.
The report features a competitive scenario of the global coin sorter industry and provides a comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, Delarue, Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., ltd., BCash, and CT Coin. These players adopt competitive strategies such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations to augment the growth of the coin sorter market growth.
Top Investment Pockets
The following figure represents the coin sorter market attractiveness for various regions. It is evident from the figure that the Asia-Pacific is the top investment pocket, owing to factors such as increase in adoption of advanced products among end users and growth associated with retail industry in the countries such as China, Japan, and Australia. LAMEA is projected to be the second most lucrative segment, due to considerable economic growth in Central America and Latin America. In 2016, the Asia-Pacific accounted for $609 million, and is expected to reach $1,067 million by 2023, growing at a CAGR of 8.7% during the forecast period.
Top Impacting Factors
The global coin sorter market is influenced by a number of factors, including growth associated with commercial banks & retail industry, increase in demand for automated cash handling products, surge in demand for technologically advanced self-service machines, increased application areas, and inclination of consumers towards digital transaction solutions.
Key Benefits for Stakeholders
• In-depth analysis of the market and dynamics is provided to understand the market scenario.
• Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
• Porter’s Five Forces analysis examines the competitive structure of the market and provides a clear understanding of the factors that influence the market entry and expansion.
• A detailed analysis of the geographical segments enables identification of profitable segments for market players in the global coin sorter industry.
• Comprehensive analysis of the trends, sub segments, and key revenue pockets is provided.
• Detailed analysis of the key players operating in the industry and their business strategies is anticipated to assist stakeholders to take informed business decisions.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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