Note Sorter Market Analysis, Status, Demand and Business Outlook 2021-2030

The Global Note Sorter Market size was valued at USD 6.51 billion in 2019 and is predicted to reach USD 13.56 billion by 2030 with a CAGR of 6.9% from 2020-2030.

Note sorters are automatic technological solutions designed to handle complex cash handling procedures, hence reducing human efforts, and making the complex note sorting, counting, and managing process hassle-free. The note sorters are proficient at sorting bundles of banknotes as per their denominations, counting accurate amount of cash in bundles, and detecting counterfeit currency notes.

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Competitive Landscape

The note sorter market, which is highly competitive and fragmented, consists of various market players. Some of the major market players include Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan among others.

The key players are employing strategies such as technical collaboration, acquisition and product launches in-order to gain stronger position in the note sorter market.

For instance, in May 2019, GLORY Ltd., one of the major players of note sorter market, announced its acquisition over Grupo Sortek S.A. de C.V. (Sortek), by purchasing 100% of Sortek’s issued shares through its international subsidiaries Glory Global Solutions (International) Ltd. (GGSI) and Glory Global Solutions (Holdings) Ltd. Sortek is a pioneer provider of cash sorting solutions and has an excellent reputation for service delivery in Mexico.

In January 2020, Glory Global Solutions International Ltd, a GLORY Ltd., company, announced a huge investment in Acrelec Group SAS. Where Acrelec is a global leader in responsive service solutions for restaurants and retail brands, Glory, is a pioneer in cash automation technologies and process engineering services.

In February 2020, Crane Payments Innovations (CPI), one of the key players in note sorter market announced its acquisition over Cummins Allison bringing together two giant American companies that are pioneer in payment and currency processing. Where Cummins Allison is a prominent provider of coins, bank notes, check handling solutions, cash sorter solutions as well as ATM machines; CPI is the global leader in cashless payment systems, asset management software, as well as banknote and coin validation systems.

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Geographical Analysis

North America represents a developed market, and is expected to maintain its dominance throughout the forecast period, accounting for major market share in the global note sorter market. This is attributed to well-established BFSI sector, advanced technological solutions to cast handling systems, as well as presence of key market players in this region.

Asia-Pacific region, is expected to gain traction over the forecast period, demonstrating a rapid growth in the global note sorter market, owing to rise in per-capita income, rapid industrialization, augmenting BSFI sector, untapped market opportunities offered by emerging economies, and most importantly, increasing cases of banknote counterfeiting in this region.

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This release was published on openPR.