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Currency Sorting Machine Market worth $636.25 million by 2030, growing at a CAGR of 4.81% - Exclusive Report by 360iResearch
Currency Sorting Machine Market | 360iResearch
The Global Currency Sorting Machine Market to grow from USD 457.77 million in 2023 to USD 636.25 million by 2030, at a CAGR of 4.81%.
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A currency sorting machine is used for sorting banknotes and is widely adopted in cash-based organizations and institutions such as retail stores, casinos, amusement parks, and commercial banks. Rising disposable income and strong growth in savings are impacting the growth of financial institutes and the retail sector throughout the globe, accelerating the need for the management of currency in terms of cash. The growing awareness regarding the advantages and minimal errors in currency sorting is expanding the use of currency sorting machines in monetary organizations worldwide. However, the high cost of implementation and the need for regular maintenance may limit their adoption by the end users. Moreover, innovation and enhancement in cash sorting machines to improve the accuracy of currency sorting are expected to encourage the adoption of currency sorter machines across financial, retail, and monetary organizations worldwide.
Customers in Asia, particularly in emerging nations, continue to rely on cash despite the rapid rise of electronic payments. Customers in nations including Vietnam require substantial amounts of cash to pay for daily necessities such as gasoline, food & beverages, groceries, and also for large purchases, including real estate, subsequently expanding the adoption of currency sorting machines across the retail sector of the Asia-Pacific. In recent years, managing the cost of cash handling has been a concern for retail banks across the region. As banks' operating environment becomes more competitive and complex, this puts increasing pressure to secure their cash transactions, creating a potential platform for the growth of the currency sorting machine market in the Asia-Pacific. The various food restaurants and retail stores are continuously adopting cash sorting machines, which are anticipated to expand the growth of the currency sorting machine market in EMEA. The presence of well-established players and their ongoing efforts to introduce advanced currency sorting machines is expanding the growth of the market in the Americas.
Market Segmentation & Coverage:
This research report categorizes the Currency Sorting Machine Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Device Type, market is studied across Banknote Sorter and Discriminator. The Banknote Sorter is projected to witness significant market share during forecast period.
Based on Sorter Type, market is studied across Heavy Duty Sorting Machine, Middle Range, Multi-pocket Sorter, and Small. The Heavy Duty Sorting Machine is further studied across 1+1 Pocket, 2+1 Pocket, and 3+1 Pocket. The Small is projected to witness significant market share during forecast period.
Based on Application, market is studied across Banknote and Coin. The Banknote is projected to witness significant market share during forecast period.
Based on Distribution Channel, market is studied across Offline and Online. The Online is projected to witness significant market share during forecast period.
Based on End-User, market is studied across BFSI, Cash-in-Transit, Casinos & Large Theme Parks, and Retail. The BFSI is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.67% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Currency Sorting Machine Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Currency Sorting Machine Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Currency Sorting Machine Market, highlighting leading vendors and their innovative profiles. These include Aditya Systems, Anhui Zhongke Optic-electronic Color Sorter Machinery Co., Ltd., Arihant Maxsell Technologies Private Limited, Bcash Electronics Company, BellCon ApS, CDM USA Inc., Cummins-Allison Corporation by Crane Co., De La Rue PLC, Deteck USA, Dolphin Automation, Giesecke & Devrient GmbH, Glory Global Solutions, Godrej & Boyce Manufacturing Company Limited, Goznak, GRGBanking Equipment Co., Limited, Hyundai MBI International, Jetex Infotech Private Limited, Julong Co., Ltd., Kisan Electronics, KLOPP International, Inc., Laurel Bank Machines Co. Ltd, Promech Industries Pvt. Ltd., PT Murni Solusindo Nusantara, Shanghai Guao Electronic Technology Co., Ltd, Shenzhen Watt Data Technology Co., Ltd., Suzhou RIBAO Technology Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Volumatic Limited, and Xinda Electronic Equipment Co.Ltd.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Currency Sorting Machine Market, by Device Type
7. Currency Sorting Machine Market, by Sorter Type
8. Currency Sorting Machine Market, by Application
9. Currency Sorting Machine Market, by Distribution Channel
10. Currency Sorting Machine Market, by End-User
11. Americas Currency Sorting Machine Market
12. Asia-Pacific Currency Sorting Machine Market
13. Europe, Middle East & Africa Currency Sorting Machine Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Currency Sorting Machine Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Currency Sorting Machine Market?
3. What is the competitive strategic window for opportunities in the Currency Sorting Machine Market?
4. What are the technology trends and regulatory frameworks in the Currency Sorting Machine Market?
5. What is the market share of the leading vendors in the Currency Sorting Machine Market?
6. What modes and strategic moves are considered suitable for entering the Currency Sorting Machine Market?
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