Note Sorter Market by Product (Small Size Note Sorter, Medium Size Note Sorter, and Large Size Note Sorter), by Application (BFSI, Retail, and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030
Industry: ICT & Media | Publish Date: 05-Dec-2024 | No of Pages: 211 | No. of Tables: 115 | No. of Figures: 85 | Format: PDF | Report Code : IC32
Market Definition:
The global Note Sorter Market size was valued at USD 6.51 billion in 2019 and is predicted to reach USD 13.56 billion by 2030 with a CAGR of 6.9% from 2020-2030.
Note sorters are automatic technological solutions designed to handle complex cash handling procedures, hence reducing human efforts, and making the complex note sorting, counting, and managing process hassle-free. The note sorters are proficient at sorting bundles of banknotes as per their denominations, counting accurate amounts of cash in bundles, and detecting counterfeit currency notes.
Note sorting machines hold wide applications in cash-concentrated businesses, and financial organizations such as the BFSI sector, commercial retailers, self-service kiosks, casinos, theme parks, and other public sector outlets. The growing demand to cater the augmenting requirements for cash sorting and counting technological solutions, supplements the global note sorter market growth.
Market Dynamics and Trends:
The proliferating BFSI sector, increasing incidences of counterfeiting activities, augmentation in commercial trade, as well as increasing in-flow and out-flow of cash, emphasizes on the development of advanced cash handling systems, thereby propelling the growth of note sorter market throughout the forecast period.
Furthermore, the benefits offered by note sorters such as reduced errors, lower risk of intra-organizational thefts, quick processing, lower financial losses, and most importantly reduced operational expenses; tend to supplement the demand for cash counting and sorting solutions, thereby propagating the growth of the global note sorter market in coming future.
However, the increase in digital and online transactions, as well as increased use of virtual currency and plastic money, tend to hamper the growth of note sorter industry during the forecast period.
Moreover, increasing standards of living, advancements in product technologies, and untapped market opportunities offered by emerging economies, are the factors anticipated to boost the growth of note sorter market in near future.
Market Segmentations and Scope of the Study:
The global note sorter market report has been analyzed based on product, application, and geography. Based on product, the market is segmented into small size note sorter, medium size note sorter, and large size note sorter. Based on application, the market is divided into BFSI, retail and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America represents a developed market, and is expected to maintain its dominance throughout the forecast period, accounting for major market share in the global note sorter market. This is attributed to well-established BFSI sector, advanced technological solutions to cast handling systems, as well as presence of key market players in this region.
Asia-Pacific region, is expected to gain traction over the forecast period, demonstrating a rapid growth in the global note sorter industry, owing to rise in per-capita income, rapid industrialization, augmenting BSFI sector, untapped market opportunities offered by emerging economies, and most importantly, increasing cases of banknote counterfeiting in this region.
Competitive Landscape:
The note sorter industry, which is highly competitive and fragmented, consists of various market players. Some of the major market players include Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan among others.
The key players are employing strategies such as technical collaboration, acquisition and product launches in-order to gain stronger position in the note sorter market.
For instance, in May 2019, GLORY Ltd., one of the major players of note sorter market, announced its acquisition over Grupo Sortek S.A. de C.V. (Sortek), by purchasing 100% of Sortek’s issued shares through its international subsidiaries Glory Global Solutions (International) Ltd. (GGSI) and Glory Global Solutions (Holdings) Ltd. Sortek is a pioneer provider of cash sorting solutions and has an excellent reputation for service delivery in Mexico.
In January 2020, Glory Global Solutions International Ltd, a GLORY Ltd., company, announced a huge investment in Acrelec Group SAS. Where Acrelec is a global leader in responsive service solutions for restaurants and retail brands, Glory, is a pioneer in cash automation technologies and process engineering services.
In February 2020, Crane Payments Innovations (CPI), one of the key players in note sorter market announced its acquisition of Cummins Allison bringing together two giant American companies that are pioneers in payment and currency processing. Where Cummins Allison is a prominent provider of coins, bank notes, check handling solutions, cash sorter solutions as well as ATM machines; CPI is the global leader in cashless payment systems, asset management software, as well as banknote and coin validation systems.
Key Benefits
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The note sorter market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises a deep dive analysis of the global market trend including the current and future trends for depicting the prevalent investment pockets in the market.
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The report provides detailed information related to key drivers, restraints and opportunities and their impact on the global market.
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The report incorporates competitive analysis of the market players along with their market share in the global market.
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The SWOT analysis and Porters Five Forces model is elaborated in the study of the global market.
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Value chain analysis in the note sorter market study provides a clear picture of the stakeholders’ roles.
Note Sorter Market Key Segments
By Product
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Small Size Note Sorter
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Medium Size Note Sorter
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Large Size Note Sorter
By Application
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BFSI
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Retail
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Others
By Geography
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Italy
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Germany
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Spain
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Netherlands
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Taiwan
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Vietnam
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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Key Players
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Giesecke & Devrient
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De La Rue
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Julong
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Toshiba
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Glory Global Solutions
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GRGBanking
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Laurel
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Cummins-Allison
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Bcash Electronics
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Kisan
Report Scope and Segmentation:
|
Parameters |
Details |
|
Analysis Period |
2019–2030 |
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Base Year Considered |
2020 |
|
Forecast Period |
2020–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Market Segmentation |
By Type (Small Size Note Sorter, Medium Size Note Sorter, Large Size Note Sorter) By End User (BFSI, Retail, Other End User) |
|
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Italy, Germany, Spain, Netherlands, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, South Korea, Taiwan, Vietnam, Rest of Asia Pacific) RoW (Latin America, Middle East, Africa) |
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Companies Profiled |
Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan. |
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