Dublin, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The "Sorting Cash Machine Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global sorting cash machine market is expected to grow from $1.42 billion in 2021 to $1.51 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The sorting cash machine market is expected to grow to $1.78 billion in 2026 at a CAGR of 4.1%.
Asia Pacific was the largest region in the sorting cash machine market in 2021. The regions covered in the sorting cash machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increasing number of grocery stores and supermarkets is expected to propel the growth of the sorting cash machine market going forward. Supermarkets and grocery stores refer to large stores where a variety of groceries and other household supplies are sold. Grocery stores and supermarkets deal with small as well as huge amounts of money and require sorting cash machines to count the notes, give accurate data, and bundle them accordingly.
For instance, in September 2022, according to a report published by Reliance Retail, an Indian retail company, the number of its stores in India increased from 11,784 to 15,196 from the year 2019 to 2022, and they opened 7 new stores each day. Furthermore, in December 2021, according to Walmart Inc a US-based retail corporation, operated more than 10,500 stores in 24 countries and added more than 500,000 new associates globally in 2020. Therefore, the increasing number of grocery stores and supermarkets is driving the growth of the sorting cash machine market going forward.
Technological advancements have emerged as a key trend gaining popularity in the sorting cash machine market. Major companies operating in the sorting cash machine market are focused on developing technologically advanced products to sustain their position in the market. For instance, in August 2019, ICICI Bank Limited, an India-based multinational bank and financial services company, launched ""robotic arms"" with industrial robotic arm technology to sort bank notes at its currency chests.
In accordance with the Reserve Bank of India's ""Clean Note Policy,"" ICICI administered currency chests where cash gathered from branches is organised. Unprocessed currency is concurrently fed into three sophisticated note-sorting machines by each robotic arm. Additionally, it retrieves processed currency from output sackers, aligns loose notes, binds packets, and places the items in the appropriate trays. The robotic arms employ a variety of sensors to quickly check over 70 characteristics.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
- Impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
1) By Type: Notes Sorter; Coins Sorter
2) By Enterprise Size: Large Enterprises; Small and Medium Sized Enterprise
3) By Application: Bank; Supermarket; Hospital; Other Applications
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $1.51 billion |
| Forecasted Market Value (USD) by 2026 | $1.78 billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Sorting Cash Machine Market Characteristics
3. Sorting Cash Machine Market Trends And Strategies
4. Sorting Cash Machine Market - Macro Economic Scenario
5. Sorting Cash Machine Market Size And Growth
6. Sorting Cash Machine Market Segmentation
7. Sorting Cash Machine Market Regional And Country Analysis
8. Asia-Pacific Sorting Cash Machine Market
9. China Sorting Cash Machine Market
10. India Sorting Cash Machine Market
11. Japan Sorting Cash Machine Market
12. Australia Sorting Cash Machine Market
13. Indonesia Sorting Cash Machine Market
14. South Korea Sorting Cash Machine Market
15. Western Europe Sorting Cash Machine Market
16. UK Sorting Cash Machine Market
17. Germany Sorting Cash Machine Market
18. France Sorting Cash Machine Market
19. Eastern Europe Sorting Cash Machine Market
20. Russia Sorting Cash Machine Market
21. North America Sorting Cash Machine Market
22. USA Sorting Cash Machine Market
23. South America Sorting Cash Machine Market
24. Brazil Sorting Cash Machine Market
25. Middle East Sorting Cash Machine Market
26. Africa Sorting Cash Machine Market
27. Sorting Cash Machine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sorting Cash Machine Market
29. Sorting Cash Machine Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Bcash Electronics Co.
- Cummins Allison
- De La Rue plc
- Giesecke+Devrient GmbH
- Glory Global Solutions (International) Limited
- GRGBanking
- Julong Europe GmbH
- Kisan Electronic
- Laurel Bank Machines Co.Ltd.
- Toshiba Infrastructure Systems and Solutions Corporation
- Xinda Electronic Equipment Ltd.
- Guao Electronic
- Aditya Systems
- Eromart
- Cash Processing Solutions.
For more information about this report visit https://www.researchandmarkets.com/r/k1vah2
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