Sorting Cash Machine Global Market Report 2023

·5 min read

Major players in the sorting cash machine market are 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.

New York, March 21, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Sorting Cash Machine Global Market Report 2023" -
Ltd., Toshiba Infrastructure Systems and Solutions Corporation, Xinda Electronic Equipment Ltd., Guao Electronic, Aditya Systems, Eromart, and Cash Processing Solutions.

The global sorting cash machine market grew from $1.52 billion in 2022 to $1.61 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The sorting cash machine market is expected to grow to $1.91 billion in 2027 at a CAGR of 4.4%.

The sorting cash machine market consists of sales of paper shredders,counting machines.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

A sorting cash machine refers to a machine which is used to sort bank notes and group different currency denominations together. Additionally, it counts the cash and divides it into several groups according to predetermined sums.

Asia-Pacific was the largest region in the sorting cash machine market in 2022. The regions covered in the sorting cash machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of sorting cash machines are note sorter and coins sorter.Note sorter refers to a machine that is used for bundling, counting, and sorting notes.

A note sorter is used by businesses that deal with significant amounts of cash, including banks, casinos, sizable theme parks, and transportation services. The various enterprises involved are large enterprises and small and medium-sized enterprises that are used by banks, supermarkets, hospital, and other applications.

An increasing number of grocery stores and supermarkets is expected to propel the growth of the sorting cash machine market going forward.Supermarkets and grocery stores refer to large stores where a variety of groceries and other household supplies are sold.

Grocery stores and supermarkets deal with small as well as huge amounts of money and require sorting cash machines to count the notes, give accurate data, and bundle them accordingly.For instance, in September 2022, according to a report published by Reliance Retail, an Indian retail company, the number of its stores in India increased from 11,784 to 15,196 from the year 2019 to 2022, and they opened 7 new stores each day.

Furthermore, in December 2021, according to Walmart Inc a US-based retail corporation, operated more than 10,500 stores in 24 countries and added more than 500,000 new associates globally in 2020. Therefore, the increasing number of grocery stores and supermarkets is driving the growth of the sorting cash machine market going forward.
Technological advancements have emerged as a key trend gaining popularity in the sorting cash machine market.Major companies operating in the sorting cash machine market are focused on developing technologically advanced products to sustain their position in the market.

For instance, in July 2022, Volumatic, a UK-based company providing intelligent cash-handling solutions, launched CountEasy 2.CountEasy eliminates cash reconciliation errors for businesses across retail, leisure, and banking by providing 100%, accurate cash counts.

This system is able to count both notes and coins accurately in less than a minute, saving businesses time and money.

In February 2020, Crane Co, a US-based industrial products company providing banknote and coin validation, cashless payment systems, and asset management software, acquired Cummins Allison for an undisclosed amount.With this acquisition, Cummins Allison would create new opportunities by its naturally fitting product portfolio with Crane Co and would help the company to effectively serve its customers.

The Cummins Allison company is a US-based provider of ATMs, coin-handling solutions, and currency-handling systems.

The countries covered in the sorting cash machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The sorting cash machine market research report is one of a series of new reports that provides sorting cash machine market statistics, including sorting cash machine industry global market size, regional shares, competitors with sorting cash machine market share, detailed sorting cash machine market segments, market trends, and opportunities, and any further data you may need to thrive in the sorting cash machine industry. This sorting cash machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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