The global note sorter market exhibited moderate growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A note sorter is a machine that optimizes the cash management process by effectively sorting and bundling banknotes. It is convenient and provides increased productivity, efficiency, and security. It is widely utilized in organizations that handle a large deposit of money, such as banks, casinos, theme parks, self-service kiosks, and transit services. Nowadays, several manufacturers are offering an upgraded, intelligent, and reliable note sorter, which is integrated with optical inspection and image processing technology to identify fake denominations.
Note Sorter Market Trends: Manual cash processing is usually ineffective and time-intensive and involves a high risk of error. As a result, organizations from different industry verticals are adopting note sorters for smooth, efficient, and continuous processing of large volumes of banknotes. In addition, it helps in reducing operational expenses, minimizing the risk of internal theft, and declining financial losses. This, along with the considerable need for hassle-free handling of huge cash deposits, is positively influencing the utilization of note sorters in the banking, financial services, and insurance (BFSI) sectors. Apart from this, the emerging trend of theme amusement parks is also contributing to market growth. In addition, the growing popularity of casinos and other gambling games is catalyzing the demand for note sorters for keeping track of the sales. Furthermore, the increasing focus of leading players on mergers and acquisitions (M&A) is creating a positive outlook for the market. For instance, Crane Payment Innovations (CPI), Inc., a Crane Co. subsidiary and global leader in banknote and coin validation, acquired Cummins Allison, which is a leading provider of coin, currency, and check handling solutions to lead innovations in existing products and services.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global note sorter market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on sorter type, enterprise size and end user.
Breakup by Sorter Type: Small Size Note Sorter Medium Size Note Sorter Large Size Note Sorter
Breakup by Enterprise Size: Large Enterprises Small and Medium Enterprises
Breakup by End User: BFSI Retail Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being BCASH Electronics Co. Limited, Cummins Allison Corp. (Crane Payment Innovations Inc.), De La Rue plc, Giesecke+Devrient GmbH, Glory Ltd., GRG Banking, Julong Co., Ltd., Kisan Electronics, Laurel Bank Machines Co. Ltd., and Toshiba Corporation. Key Questions Answered in This Report: How has the global note sorter market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global note sorter market? What are the key regional markets? What is the breakup of the market based on the sorter type? What is the breakup of the market based on the enterprise size? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global note sorter market and who are the key players? What is the degree of competition in the industry?
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