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Digital Payment Surge Fuels Growth In Retail Cash Management Market Driver: A Major Catalyst in the Evolution of the Retail Cash Management Market in 2025
Retail Cash Management Market
The retail cash management market's expansion is forecasted to be fueled by the increasing acceptance of digital payment solutions. These digital payment solutions, comprising online services and tools that facilitate financial exchanges and electronic transactions via the internet, are diminishing dependence on physical currency by optimizing retail cash management through efficiency improvements, heightened security, better data usage, and a more sustainable, customer-focused approach to managing cash. The Office for National Statistics, a UK-based statistical institute, revealed that in 2022, 59% of payment transactions in the UK were made via cards. As a result, the retail cash management market is experiencing growth due to the rising number of digital payment solution users. The retail cash management market is also predicted to benefit from the swift growth of the retail industry. The retail sector, which consists of businesses that sell goods and services directly to consumers for their individual consumption or usage, utilizes retail cash management to ensure smooth day-to-day operations and customer satisfaction while minimizing the risks associated with handling cash. According to the National Retail Federation, a trade association based in the United States, retail sales in 2023 experienced a rise between $5.13 trillion and $5.23 trillion, an increase of 4% to 6% from 2022. Thus, the retail industry's brisk growth is propelling the retail cash management market.
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How will the growth rate of the retail cash management market shape industry trends by 2034?
The scale of the retail cash management market has swiftly expanded in the last few years. It is projected to rise from $5.01 billion in 2024 to a whopping $5.79 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 15.6%. The remarkable growth witnessed in the past can be attributed to factors such as efficient cash handling, cost reductions in cash management, security considerations, the need for regulatory compliance, along with integration with Point-Of-Sale (POS) systems.
Expectations are high for a swift expansion in the retail cash management market in the coming years. It's projected to surge to a size of $10.59 billion by 2029, experiencing a compounded annual growth rate (CAGR) of 16.3%. The predicted growth during the forecast period is associated with the improvement of customer experience, the incorporation of contactless payments, the security offered by blockchain technology, the implementation of advanced robotics in cash handling, and commitments to environmental sustainability. Key trends set to dominate the forecast period involve the application of cash recycler technology, the utilisation of cloud-based solutions and data analytics for informed decision-making, the emergence of cloud-based cash management systems, the use of mobile point-of-sale (mPOS) systems, and the integration with e-commerce platforms.
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What trends are poised to drive the future success of the retail cash management market?
Leading businesses in the retail cash management market are concentrating on innovating automation technology solutions to enhance performance. These solutions encompass a broad array of systems, tools, and methods aimed at enabling automation and streamlining of diverse tasks and operations in businesses and sectors. For example, Glory Ltd., a firm specializing in cash management based in Japan, announced in September 2022 the introduction of their next-gen CASHINFINITY series of retail cash automation solutions. The latest solutions aim to boost cash management processes, lower expenses, and enhance operational effectiveness for retailers, regardless of their size.
Which primary segments of the retail cash management market are driving growth and industry transformations?
The retail cash management market covered in this report is segmented -
1) By Component: Solution, Service
2) By Deployment Mode: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Balance And Transaction Reporting, Cash Flow Forecasting, Corporate Liquidity Management, Payables And Receivables, Other Applications
Subsegments:
1) By Solution: Cash Management Software, Cash Handling Equipment, Coin And Currency Counting Machines, Cash Recycler Machines
2) By Service: Installation And Setup Services, Maintenance And Support Services, Cash Logistics And Cash Transport Services
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North America was the largest region in the retail cash management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail cash management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the retail cash management market landscape?
Major companies operating in the retail cash management market report are Oracle Corporation, NTT Data Corporation, HCL Technologies Limited, Toshiba Tec Corporation, Diebold Nixdorf Inc., Tietoevry Corporation, Giesecke+Devrient GmbH, Sage Group PLC, Finastra Group Holding Limited, Loomis AB, Crane Payment Innovations Inc., JCM American Corporation, Nucleus Software Exports Limited, Intimus International GmbH, Tellermate Inc., Glory Ltd., Kisan Electronics Co. Ltd., Cashmaster International, Puloon Technology Inc., Bankers Equipment Service Inc., ALVARA Digital Solutions GmbH, GRG Banking Equipment Co. Limited., Fujitsu Frontech North America Inc., Royal Sovereign International LLC, SUZOHAPP Germany GmbH
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What Is Covered In The Retail Cash Management Global Market Report?
•Market Size Forecast: Examine the retail cash management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the retail cash management market for a structured understanding.
•Key Players Overview: Analyze major players in the retail cash management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the retail cash management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the retail cash management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the retail cash management market.
•Industry Challenges: Identify potential risks and obstacles affecting the retail cash management market.
•Competitive Landscape: Review strategic developments in the retail cash management market, including expansions, agreements, and new product launches.
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