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Coin Sorter Market is Projected to Expand at a 6.8% CAGR BY 2023

04-10-2019 05:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Coin Sorter

Coin Sorter

The coin sorter market is in its growth phase, and is expected to grow at a CAGR of 6.8% during the forecast period. 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.

Coin Sorter Market by Type: Global Opportunity Analysis and Industry Forecast, 2016-2023, the global coin sorter market was valued at $3,486 million in 2016, and is projected to reach $5,415 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The large size coin sorter segment is anticipated to grow at the highest rate 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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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%.

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.

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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.

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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