Sorting Cash Machine Market Research Report and Outlook by 2028

In 2020, the sorting cash machine market was valued at approximately US$ 1,539.16 million and is projected to grow to around US$ 1,988.26 million by 2028, reflecting a compound annual growth rate (CAGR) of 3.7% during the forecast period from 2021 to 2028.

Technological advancements are significantly propelling the growth of the sorting cash machine market. One of the notable innovations is weight-based cash sorting, which enhances the efficiency of cash utilization. In today?s fast-paced environment, efficiency is paramount, as it boosts operational productivity and conserves time for businesses. In Europe, the use of coin sorting machines is regulated to combat counterfeiting and ensure the authenticity of cash counting and sorting processes, as stipulated in Regulation (EU) No 1210/2010. Manufacturers aiming to distribute cash sorting machines within Europe must adhere to specific acceptance criteria outlined in the Commission's guidelines. The latest technologies are being harnessed to create cash sorting machines equipped with robust security features to thwart counterfeiting, while manufacturers are striving to strengthen their market presence by integrating reliable algorithms and advanced cash detection systems.

While security, precision, and efficiency remain critical attributes of cash sorting machines, manufacturers are increasingly adding features such as customizable touchscreen interfaces, enhanced machine graphics, and hands-free cash handling capabilities. To secure a competitive edge, both manufacturers and distributors are leveraging cutting-edge technologies to embed unique and superior security functionalities into their cash sorting machines. The sorting cash machine market is anticipated to witness moderate growth throughout the forecast period, influenced by various market dynamics, including a decline in cash transactions and the implementation of advanced security protocols.

Effects of the COVID-19 Pandemic on the European Sorting Cash Machine Market

The COVID-19 pandemic had a profound effect on numerous European nations, including Russia, France, Italy, the UK, Spain, and Germany. Many businesses were compelled to halt operations or scale back activities due to lockdowns, travel restrictions, and disruptions in supply chains, leading to a notable economic downturn in 2020. Nevertheless, European countries have emerged as significant markets for digital payment solutions, driven by the adoption of cloud and mobile technologies within the banking, financial services, and insurance (BFSI) sector, alongside a surge in fintech companies. To mitigate the virus's spread, several nations enacted stringent measures and travel limitations, resulting in increased demand for digital banking services and a rise in contactless payment thresholds. The pandemic has catalyzed a shift towards digitalization in the banking industry, allowing financial institutions to adapt to the challenging operational landscape created by COVID-19.

The sorting cash machine market is segmented into five primary regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America led the sorting cash machine market, capturing 35.80% of the revenue share. This growth is largely attributed to the presence of numerous cash sorting machine providers, including Cummins Allison, Laurel Bank Machines Co., Ltd, and Cash Processing Solutions, which cater to the needs of supermarkets, banks, and other businesses in the region. Additionally, the high concentration of banks in the United States further fuels the demand for sorting cash machines. The APAC region is anticipated to exhibit the highest CAGR in the sorting cash machine market during the forecast period, driven by emerging economies such as China, India, Japan, Australia, and South Korea. The region also boasts a significant number of supermarkets in countries like Japan, Thailand, Singapore, Taiwan, Malaysia, the Philippines, Indonesia, and China, presenting lucrative growth opportunities for the sorting cash machine market. Furthermore, the presence of prominent note counting machine brands in India, such as Smars, VMS, Gobbler, SToK, and Swaggers, is expected to bolster market growth. Consequently, the demand and supply dynamics of sorting cash machines in the APAC region are progressing in tandem.

Key players in the global sorting cash machine market include Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan.

The global sorting cash machine market size has been established through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research utilizing both internal and external sources to collect qualitative and quantitative data pertinent to the sorting cash machine market. This phase also aimed to provide a comprehensive market overview and forecasts for all segments. Additionally, numerous primary interviews were conducted with industry experts and stakeholders to validate the findings and gain further analytical insights. Participants in these interviews included vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the sorting cash machine sector.