Sorting Cash Machine Global Market Report 2022: Increasing Numbers of Grocery Stores and Supermarkets Bolsters Growth


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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.

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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 AttributeDetails
No. of Pages175
Forecast Period2022 - 2026
Estimated Market Value (USD) in 2022$1.51 billion
Forecasted Market Value (USD) by 2026$1.78 billion
Compound Annual Growth Rate4.2%
Regions CoveredGlobal


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.

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Global Sorting Cash Machine Market

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