Press release
Global Note Sorter Market Projected to Surpass $9.37 Billion by 2029 with 8% Annual Growth
The rise in commercial banking is projected to stimulate the note sorter market. Commercial banks, as financial establishments, provide their clients with services such as loans, savings bank accounts, and bank overdraft options. By lending money to their customers and subsequently charging interest on these sums, these banks generate revenue. Note sorters, utilized by these commercial banks, inspect the validity and condition of notes, making cash note management more efficient. These devices aid in identifying and segregating potentially counterfeit notes. For example, the Press Information Bureau, an Indian nodal agency, reported in July 2024 that the Scheduled Commercial Banks (SCBs) saw notable growth in the year 2023, relative to 2022, in India. The total deposits rose to ₹204.75 lakh crore ($2,457 million), a leap from the ₹180.44 lakh crore ($2,148 million) in the preceding year, signifying a 13.4% upsurge. Therefore, the expanding growth of commercial banks is fuelling the note sorter market.
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What Is the projected market size and growth rate for the note sorter market?
The market size of note sorters has experienced robust growth over the past few years. It is predicted to increase from $6.48 billion in 2024 to $6.95 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth during the historic period can be credited to the rising demand for rapid sorting, cash management improvements, counterfeit detection and security protocols, an increase in cash-based transactions, and the expansion of the banking and finance sector.
The market for note sorters is predicted to experience robust expansion in the upcoming years, reaching a value of $9.37 billion in 2029, with a compound annual growth rate (CAGR) of 7.7%. Factors contributing to this growth during the projection period include sustainability programs, the need for sorting of diverse denominations, emphasis on operational productivity, broadening of global banking services, cash recycling, and ATM automation. The forecast period is also anticipated to witness certain key trends such as the adoption of green and eco-friendly solutions, compliance with regulatory norms, improved user interface, integration with cash recycling systems, and an increase in contactless transactions.
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What new trends are reshaping the note sorter market and its opportunities?
The rise of technology is a notable trend that's increasingly making its mark in the note sorter sector. Leading businesses in this market are placing significant emphasis on the creation of innovative technology solutions to secure their standing. As a clear example, in January 2022, Godrej & Boyce, a reputable manufacturer of intricately designed products and solutions from India, introduced Valumatic. This is a cutting-edge CIS-based currency handling device which comes with a special design featuring 3D and color sensor value counters for the precise detection of counterfeit currency and various denominations. Its ability extends to the precise detection of up to ten global currencies, along with image capturing and serial number tracking. Printers can be connected to it for report generation and the software can be easily upgraded.
What major market segments define the scope and growth of the note sorter market?
The note sorter market covered in this report is segmented -
1) By Sorter Type: Small-Sized Note Sorter, Medium-Sized Note Sorter, Large-Sized Note Sorter
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
3) By End User: BFSI, Retail, Other Users
Subsegments:
1) By Small-Sized Note Sorter: Compact Note Sorter, Desktop Note Sorter
2) By Medium-Sized Note Sorter: Tabletop Note Sorter, Floor-Standing Note Sorter
3) By Large-Sized Note Sorter: High-Capacity Note Sorter, Bulk Note Processing Machine
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Which region dominates the note sorter market?
North America was the largest region in the note sorter market in 2024. The regions covered in the note sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the note sorter industry growth?
Major companies operating in the note sorter market include Bcash Electronics Co. Ltd., Crane Payment Innovations Inc., De La Rue Plc, Giesecke & Devrient GmbH, Glory Global Solutions Limited, GRG Banking Equipment Co. Ltd., Julong Europe GmbH, Kisan Electronics Co. Ltd., Laurel Bank Machines Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Maxsell Co., Knight Sun Impex Private Limited, Zhejiang Weirong Electronic Co. Ltd., Hitachi Ltd., CBPM & Xinda Banking Equipment Co. Ltd., Cassida Corporation, SuzoHapp Group, CIMA S.p.A., Billcon Corporation, Currency Tech GmbH, Anhui Lema International Co. Ltd., Suzhou Procoin Money Handling Systems Co. Ltd., Uchida Yoko Co. Ltd., Innovative Technology Ltd.
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What Is Covered In The Note Sorter Global Market Report?
• Market Size Forecast: Examine the note sorter market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the note sorter market for a structured understanding.
• Key Players Overview: Analyze major players in the note sorter market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the note sorter market.
• Segment Contributions: Evaluate how different segments drive overall growth in the note sorter market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the note sorter market.
• Industry Challenges: Identify potential risks and obstacles affecting the note sorter market.
• Competitive Landscape: Review strategic developments in the note sorter market, including expansions, agreements, and new product launches.
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