Coin Sorter Market Expected to Reach $5.4 Billion By 2023 at a CAGR of 6.8% | Key Market Segments, Top Impacting Factors and Growth Opportunities - 2027
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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.
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Key Findings of the Coin Sorter Market:
1. 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.
2. The North America coin sorter market generated the highest share, accounting for $1,467 million in 2016.
3. The coin sorter market for large size coin sorter segment is expected to witness the highest growth rate during the forecast period.
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Coin Sorter Market, By Type
Chapter 5 Coin Sorter Market, By Geography
Chapter 6 Company Profile
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