Sorting Cash Machine Global Market Report 2023: Sector to Reach $1.91 Billion in 2027 at a CAGR of 4.4%

DUBLIN, March 28, 2023 /PRNewswire/ -- The "Sorting Cash Machine Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

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 sorting cash machine market is expected to grow to $1.91 billion in 2027 at a CAGR of 4.4%.

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.Ltd., Toshiba Infrastructure Systems and Solutions Corporation, Xinda Electronic Equipment Ltd., Guao Electronic, Aditya Systems, Eromart, and Cash Processing Solutions. 

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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.

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

Key Topics Covered:

1. Executive Summary

2. Sorting Cash Machine Market Characteristics

3. Sorting Cash Machine Market Trends And Strategies

4. Sorting Cash Machine Market - Macro Economic Scenario
4.1. COVID-19 Impact On Sorting Cash Machine Market
4.2. Ukraine-Russia War Impact On Sorting Cash Machine Market
4.3. Impact Of High Inflation On Sorting Cash Machine Market

5. Sorting Cash Machine Market Size And Growth
5.1. Global Sorting Cash Machine Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Sorting Cash Machine Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Sorting Cash Machine Market Segmentation
6.1. Global Sorting Cash Machine Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Notes Sorter
• Coins Sorter

6.2. Global Sorting Cash Machine Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Large Enterprises
• Small and Medium Sized Enterprise

6.3. Global Sorting Cash Machine Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Bank
• Supermarket
• Hospital
• Other Applications

7. Sorting Cash Machine Market Regional And Country Analysis
7.1. Global Sorting Cash Machine Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Sorting Cash Machine Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/zjin8

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