WILMINGTON, Del., May 23, 2024
/PRNewswire/ -- Allied Market Research published a report,
titled, "Note Sorter Market by Device
(Discriminator and Banknote Sorter), Sorter Type (Small Size,
Middle Range, and Heavy Duty), End User (Bank, Financial
Institution, Cash-in-Transit (CIT), Retail, and
Casino), and Enterprise Size (Large Enterprise and
Small and Medium-sized Enterprise): Global Opportunity Analysis and
Industry Forecast, 2024-2032". According to the report, the
"note sorter market" was valued at $5.9
billion in 2017, and is estimated to reach $14.7 billion by 2032, growing at a CAGR of 8.4%
from 2024 to 2032.
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247 – Tables
74 – Charts
549 – Pages
Drivers, Restraints, and Opportunities-
The note sorter market is expected rise in cash transactions,
growth in retail and banking industry and growth in need for
efficient cash replenishment Moreover, the expansion of the product
and services and the technological advancement of the note sorter
industry are expected to provide lucrative opportunities for the
growth of the market during the forecast period.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2032
|
Base Year
|
2017
|
Market Size in
2017
|
$5.9 billion
|
Market Size in
2032
|
$14.7
billion
|
CAGR
|
8.4 %
|
No. of Pages in
Report
|
549
|
Segments
Covered
|
Device, Sorter type,
Heavy duty, End user, Enterprise size, Region
|
Drivers
|
Rise in cash
transactions
Growth in the retail
and banking industry
Growth in need of
efficient cash replenishment
|
Opportunities
|
Technological
advancement
|
Restraints
|
Transitions toward
cashless transactions
High initial costs
|
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The banknote sorter segment to rule the market-
By device segment, the banknote sorter segment dominated the
global note sorter market share in 2023, accounting for more than
three-fourths of the note sorter market revenue and is estimated to
maintain its leadership status during the forecast period and is
expected to remain dominant during the forecast period, owing to
growth in emphasis on connectivity and data analytics, allowing
businesses to gather insights into cash flow, optimize inventory
management, and improve overall operational efficiency. Integration
with cash recycling systems is another notable trend, offering a
comprehensive solution for both depositing and dispensing cash
within banking and retail environments. However, the discriminator
segment is expected to witness the highest growth of 10.5% in the
upcoming years, owing to the integration of advanced sensor
technologies, including infrared sensors and spectral imaging, to
enhance the precision of discrimination has fueled the growth of
the market. These technologies enable discriminators to detect
subtle features and security elements in banknotes, thereby
improving counterfeit detection capabilities. There is a growth in
the trend toward the development of discriminators with modular
designs, allowing for easier upgrades and adaptations to evolving
security features on new banknote releases.
The Heavy-duty segment to dominate by 2032
By sorter type, the heavy-duty segment accounted for nearly half
of the global note sorter market share in 2023 and is expected to
remain dominant by 2032, owing to enabling heavy-duty sorters to
handle vast volumes of banknotes with unparalleled efficiency.
Advanced counterfeit detection features continue to evolve,
incorporating innovative technologies such as deep learning
algorithms and multispectral imaging to enhance accuracy and
security. Heavy duty note sorters have increasingly adopted
comprehensive fitness sorting capabilities, assessing the quality
and condition of banknotes to ensure that the currency remains in
circulation. However, the middle range segment is expected to
witness the highest growth of 9.4%, owing to
middle range note sorters have increasingly adopted user-friendly
interfaces and intuitive controls, streamlined operations, and
reduced training time for users. Connectivity features are also on
the rise, enabling seamless integration with other financial
systems, allowing businesses to gather insights into cash flows and
optimize inventory management.
The retail segment to dominate by 2032
By end user, the bank segment accounted for nearly two-fifths of
the global note sorter market share in 2023 and is expected to
remain dominant by 2032, owing to note sorters for banks often
being equipped with fitness sorting capabilities, enabling the
assessment of the quality and condition of banknotes. User-friendly
interfaces and ergonomic designs have gained importance to
streamline operations within the banking environment. However, the
retail segment is expected to witness the fastest CAGR of 11.5%
throughout the forecast period, owing to retail-oriented note
sorters often including features such as fitness sorting to assess
the quality and condition of banknotes, ensuring that only fitted
currency remains in circulation. Connectivity features have also
gained prominence, enabling seamless integration with point-of-sale
(POS) systems and broader financial networks. This connectivity
facilitates real-time reporting, allowing retailers to monitor cash
flows, optimize change management, and streamline overall
cash-handling operations in the market.
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The large enterprise segment to dominate by 2032
By enterprise type, the large enterprise segment accounted for
nearly more than two-thirds of the global note sorter market share
in 2023 and is expected to rule the boost by 2032, owing to these
versatile note sorters can efficiently process multiple
denominations and currencies, providing adaptability to the complex
financial ecosystems of large enterprises. Furthermore, the trend
toward modular and scalable designs is significant, allowing large
enterprises to customize their note sorting capabilities based on
evolving business requirements. However, the small and medium-sized
enterprise segment is expected to witness the fastest CAGR of 10.2%
throughout the forecast period, owing to connectivity features that
have also emerged as a trend in note sorters for SMEs, enabling
integration with point-of-sale (POS) systems and other financial
software. This connectivity facilitates real-time reporting,
allowing SMEs to monitor cash transactions, optimize change
management, and streamline overall cash-handling processes.
Asia-Pacific garnered the
major share in 2023.
Region-wise, the note sorter market was dominated by
Asia-Pacific in 2023 and is
expected to retain its position during the forecast period,
accounting for more than one-third of the note sorter market
revenue and is estimated to maintain its leadership status during
the forecast period, owing to an increase in penetration of
electronic production and the significant presence of extended
warranty providers. However, South
America is expected to witness the fastest CAGR of 11.8%
throughout the forecast period owing to the proliferation of
complex and expensive consumer electronics and appliances, coupled
with a surge in the per capita income of individuals in this
region.
Leading Market Players-
- BCASH ELECTRONICS CO
- CUMMINS ALLISON CORP
- DE LA RUE PLC
- GIESECKE+DEVRIENT GMBH
- GLORY GLOBAL SOLUTIONS
- GRG BANKING
- JULONG EUROPE GMBH
- KISAN ELECTRONICS
- LAUREL BANK MACHINES CO, LTD
- TOSHIBA INFRASTRUCTURE SYSTEMS AND SOLUTIONS CORPORATION
- HITACHI TERMINAL SOLUTIONS
- MASTERWORK AUTOMODULES
- DOUBLEPOWER
The report analyzes these key players in the global note sorter
market. These players have adopted various strategies such as
expansion, new product launches, partnerships, and others to
increase their market penetration and strengthen their position in
the industry. The report helps determine the business performance,
operating segments, developments, and product portfolios of every
market player.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of global note sorter
market forecast along with the current trends and future
estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities
and their impact analysis on global note sorter market share is
provided in the report.
- Porter's five forces analysis illustrates the potency of the
buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is
provided to determine the market potential.
𝐁𝐮𝐲 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞
@ https://bit.ly/3K6WyQE
Key Market Segments
By Sorter Type
- Small-Sized Note Sorter
- Medium-Sized Note Sorter
- Large-Sized Note Sorter
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By End-user
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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