Sorting Cash Machine Market to hit US$ 1,988.26 million, Globally, by 2028 at 3.7% CAGR: The Insight Partners

Sorting Cash Machine Market: Key Insights

According to our latest market study on "Sorting Cash Machine Market Forecast to 2028 - Global Analysis - by Type, Application, and Geography," the market is expected to grow from US$ 1,539.16 million in 2021 to reach US$ 1,988.26 million by 2028; it is anticipated to grow at a CAGR of 3.7% from 2021 to 2028.

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The supermarket revolution in Asia has been fueled by the same factors that have boosted the revolution in other regions - rising incomes and urbanization on the demand side, foreign direct investment (FDI), format diversification to meet consumer segment needs, competitive domestic investments, and procurement system modernization to reduce costs on the supply side. However, in this region, a few things have been different. The trends have been more intense and faster in developing countries, such as China, India, and Vietnam. In Asia's developing countries, the state is also actively involved in economic development. The state investment in contemporary retail offered a substantial initial boost to the revolution in China and Vietnam and a lesser extent, in India. Although supermarkets in other regions gradually shifted from their primary urban base to rural markets. From their early provision of mainly processed foods and basics to fresh produce, these transformations have been hastened in Asia, particularly in developing countries. Whether private or public, modern retail has adapted to formats to penetrate rural areas, often integrating with agricultural services (such as in India).

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Bill counters in supermarkets use affordable automatic wholesale cash sorting machines to rapidly count several different currencies. The seamless operations and convenient sensors make these machines easy to use in supermarkets. The machines have various features such as vivid LCD; auto start, stop, and clearing; and automatic half-note detection. The coin sorter machines have high demand in supermarkets. The increasing number of grocery stores and supermarkets that use coin sorter machines and coin sorter services is boosting the growth of the sorting cash machine market.

Sorting Cash Machine Market: Competitive Landscape and Key Developments

Bcash, Electronics Co; Cummins Allison; De La Rue plc; Giesecke+Devrient GmbH; Glory Global Solutions (International) Limited; GRGBanking; Julong Europe GmbH; Kisan Electronic; Laurel Bank Machines Co., Ltd.; and Toshiba Infrastructure Systems and Solutions Corporation are the key sorting cash machine market players considered for the research study. In addition, several other significant market players have been studied and analyzed in this research report to get a holistic view of the sorting cash machine market and its ecosystem.

Players operating in the sorting cash machine market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

1. In March 2022, Glory announced that RAMSES an iconic, authentic benchmark in the avant-garde restaurant sector in Madrid-had chosen to implement the CASHINFINITY range of banknote and coin recycling systems in its restaurants to optimize their cash management processes in a centralized and secure manner.

2. The sorting cash machine market is segmented based on type and application. Based on type, the sorting cash machine market is segmented into banknote sorters and coins sorters. In terms of application, the sorting cash machine market is segmented into banks, supermarkets, and others.

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