According to the latest report by IMARC Group, titled “Note Sorter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global note sorter market reached a value of US$ 5.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2027, exhibiting a CAGR of 9.13% during 2022-2027.
Industry Overview and Application:
A note sorter refers to a machine that optimizes the cash management process by effectively sorting and bundling banknotes. It is convenient and provides increased efficiency, security, productivity, etc. Note sorters are widely utilized in organizations that handle large volumes of money, such as banks, casinos, theme parks, self-service kiosks, etc. Presently, several manufacturers offer upgraded, intelligent, and reliable note sorters integrated with optical inspection and image processing technology to identify fake denominations.
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Market Growth Factors or Driver:
- The shifting preferences from manual cash processing owing to the numerous product benefits, such as reduced operational expenses, minimized risk of internal theft, lower risk of error, etc., are primarily driving the note sorter market.
- Moreover, the escalating popularity of theme amusement parks, casinos, gambling games, etc., is further propelling the product demand for keeping track of the sales.
- The increasing focus of leading players on mergers and acquisitions (MA) is positively influencing the market growth across the globe.
- The elevating requirement for hassle-free handling of huge cash deposits in the banking, financial services and insurance (BFSI) sector is anticipated to fuel the note sorter market in the coming years.
Competitive Landscape with Key Players:
- 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.
- Toshiba Corporation
Key Highlights of the Market Segmentation:
The report has segmented the note sorter market on the basis of sorter type, enterprise size, end user and region.
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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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