Press release
Top Market Shifts Transforming the Coin Sorter Market Landscape: Key Insights
Coin Sorter
What Is the Expected CAGR for the Coin Sorter Market Through 2025?
The expansion of the coin sorter market has been significantly robust in the past few years, with its valuation anticipated to rise from $4.21 billion in 2024 to $4.55 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.1%. The upward trajectory in the previous years is due to factors such as the surge in urbanization, the burgeoning banking sector, a preference for automation, an escalation in the amount of cash dealt by casinos, and a climb in the count of self-service machines.
What's the Projected Size of the Global Coin Sorter Market by 2029?
Expectations are high for robust expansion in the coin sorter market in the following years, with projections showing it reaching a value of $6.18 billion by 2029. This increment, representing a compound annual growth rate (CAGR) of 8.0%, links to factors such as the surge in e-commerce, greater consciousness about cash management, governmental backing for cash dealings, an intensified emphasis on precision, and the escalation of cash transactions in emerging economies. Major anticipated trends in this span incorporate the assimilation of artificial intelligence, cutting-edge sensor technology, real-time data assessment, internet of things integration, and the creation of user-friendly interfaces.
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Top Growth Drivers in the Coin Sorter Industry: What's Accelerating the Market?
An anticipated rise in cash transactions is likely to fuel the growth of the coin sorter market. A cash transaction is a financial exchange wherein payment is instantaneously conducted using physical currency, usually coins and banknotes. Cash transactions are increasing due to heightened consumer preference for tangible money, especially in certain markets and scenarios where digital payment options may be viewed as not as accessible or reliable. Coin sorters are devices designed to enhance the efficiency of cash transactions by effectively sorting and counting coins, thereby reducing the time and mistakes associated with manual handling. For example, as reported by UK Finance, a trade association for the banking and financial services sector in the UK, the total number of cash payments conducted in the UK increased to 6.4 billion in 2022 from 6 billion in 2021, indicating a growing uptake of cash transactions. Consequently, the escalating usage of cash transactions is stimulating the growth trajectory of the coin sorter market. Expanding banking services are also likely to facilitate the growth momentum of the coin sorter market. In the context of banking services, it involves the range of financial operations and products offered by banks such as deposit accounts, loans and investment services. The banking sector is experiencing higher demand and patronage fuelled by factors such as enhanced financial inclusion, the surge in digital banking and the general increment in economic activities. Coin sorters play a crucial role in banking services by effectively organising and counting substantial amounts of coins, simplifying cash management processes and reducing manual labour. To illustrate, as per data released by the Federal Reserve Economic Data, a research department under the Federal Reserve Bank of St. Louis, total revenue for commercial banking rose to $566.9 billion in 2022, up from $512.1 billion in 2021, demonstrating significant growth within the sector. Thus, the escalating demand for banking services is contributing to the growth of the coin sorter market.
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What Trends Will Shape the Coin Sorter Market Through 2029 and Beyond?
Leading players in the coin sorter market are striving to innovate their offerings, with a focus on products such as sensor-integrated coin sorters. This aims to improve sorting precision and efficiency to cater to the growing need for reliable cash management solutions. These sensor-integrated coin sorters come with detectors that observe different characteristics of coins, including size, weight, and metal type. As an example, in February 2023, Austria-based sensor-based sorting machines manufacturer, REDWAVE Inc., released the EDWAVE CX coin sorter. This leading-edge sensor-based technology is created to boost the efficiency and precision of metal sorting operations. The system, enhanced with advanced sensors, can accurately identify and sort various kinds of metals, guaranteeing high sorting accuracy. Created for industrial usage, this system is durably designed to endure vigorous operational demands while sustaining top-notch performance.
What Are the Main Segments in the Coin Sorter Market?
The coin sorter market covered in this report is segmented -
1) By Type: Large Size Coin Sorters, Medium Size Coin Sorters, Small Size Coin Sorters
2) By Display Type: Light Emitting Diode (LED) Display Coin Sorter, Liquid Crystal Display (LCD) Display Coin Sorter
3) By Capacity: Coin Bin Capacity, Hopper Capacity
4) By Application: Bank, Retailing, Other Applications
Subsegments:
1) By Large Size Coin Sorters: High Capacity Coin Sorters, Industrial Coin Sorters
2) By Medium Size Coin Sorters: Compact Coin Sorters, Commercial Coin Sorters
3) By Small Size Coin Sorters: Desktop Coin Sorters, Personal Coin Sorters
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Which Top Companies are Driving Growth in the Coin Sorter Market?
Major companies operating in the coin sorter market are Giesecke+Devrient GmbH, Glory Global Solutions Limited, Crane Payment Innovations, Royal Sovereign Inc., De La Rue Plc, Cummins Allison, Laurel Group, Guangdong Baijia Baiter Co. Ltd., Julong Co. Ltd., Safescan BV, Namibind Inc., Arihant Maxsell Technologies Pvt Ltd, CT Coin Inc., GRG Banking, KLOPP Coin Inc., Nadex Coins, Semacon Business Machines Inc., Smars Inc., Suzhou Ribao Technology Co Ltd., SUZOHAPP Inc., Teachers Choice, Bkash Inc.
Which Regions Will Dominate the Coin Sorter Market Through 2029?
North America was the largest region in the coin sorter market in 2024. The regions covered in the coin sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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