PUBLISHER: The Business Research Company | PRODUCT CODE: 1409644
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409644
“Note Sorter Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on note sorter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for note sorter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The note sorter market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A note sorter is a machine designed to streamline the cash management process by efficiently sorting and bundling notes based on their denomination. These machines are utilized for bundling, sorting, and counting notes or cash.
The primary categories of note sorters include small note sorters, medium note sorters, and large note sorters. Small-sized note sorters are compact machines that require a smaller footprint. The key types of enterprises involved in this sector encompass large enterprises and small and medium enterprises (SMEs). Various end-users of note sorters include the Banking, Financial Services and Insurance (BFSI) sector, retail, and other industries.
The note sorter market research report is one of a series of new reports from The Business Research Company that provides note sorter market statistics, including note sorter industry global market size, regional shares, competitors with a note sorter market share, detailed note sorter market segments, market trends and opportunities, and any further data you may need to thrive in the note sorter industry. This note sorter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The note sorter market size has grown strongly in recent years. It will grow from $6.08 billion in 2023 to $6.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion during the historical period can be ascribed to the need for efficient high-speed sorting, optimization of cash management, enhancement of counterfeit detection, and implementation of security measures. This growth is also linked to the increase in cash-based transactions and the overall development of the banking and financial sector.
The note sorter market size is expected to see strong growth in the next few years. It will grow to $8.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be connected to sustainability initiatives, the need for sorting mixed denominations, emphasis on operational efficiency, the global expansion of banking, and the automation of cash recycling and ATMs. Notable trends during this period encompass the adoption of green and sustainable solutions, compliance with regulatory standards, improved user experiences, integration with cash recycling systems, and an increase in contactless transactions.
The note sorter market is anticipated to experience significant growth due to the increasing expansion of commercial banks. Commercial banks, as financial institutions, provide services such as loans, savings accounts, and overdrafts, generating revenue through interest on loans. Note sorters play a crucial role in these banks by verifying the authenticity and condition of currency, aiding in cash management, and detecting counterfeit notes. In 2021, the World Bank reported a rise in the number of global commercial bank branches per 100,000 adults, increasing from 10.7 in 2020 to 11.2 in 2021. Additionally, the total deposits at US commercial banks reached around $18 trillion in 2021, further emphasizing the impact of the growing commercial banking sector on the note sorter market.
The note sorter market is poised for growth driven by the rapid industrialization observed during the forecast period. Industrialization involves the development of industries, leading to increased manufacturing, production, and economic activities. Note sorters are closely linked to various industries as they offer efficient solutions for managing cash transactions and ensuring the validity of currency. In 2022, industrial production in the United States saw a 0.2% annual increase in April, following a 0.1% rise in March. This trend underscores the correlation between rapid industrialization and the demand for note sorters in managing cash transactions effectively.
The note sorter market is witnessing a surge in the adoption of technological advancements, emerging as a prominent trend. Major players in the note sorter market are dedicated to developing innovative technological solutions to fortify their market standing. For example, in January 2022, Godrej & Boyce, a manufacturer based in India specializing in highly engineered products and solutions, introduced Valumatic, an advanced currency handling machine based on CIS technology. Uniquely designed with 3D and color sensor value counters, Valumatic accurately identifies denominations and detects counterfeit currency. It is capable of recognizing denominations and fake currencies for up to 10 world currencies, capturing images and serial numbers. Additionally, it can be connected to printers for report generation, and its software can be easily upgraded.
Prominent companies in the note sorter market are directing their efforts toward product innovations, particularly in the realm of Teller Cash Recycler (TCR) solutions. Teller Cash Recyclers are sophisticated devices employed in banks to optimize branch and drive-through operations, reduce personnel costs, and enhance security and customer service. A noteworthy example is the GLR-100, part of the new GLR series of Teller Cash Recycler (TCR) solutions. The distinctive features of GLR-100 include high-speed note counting, substantial storage capacity, self-audit capabilities, and secure cash transfer between the teller and the vault. This new GLR solution is designed for seamless integration with Glory's secure cloud-based UBIQULARTM solutions, offering improved business intelligence and enabling remote monitoring and management of devices throughout the branch network.
In June 2022, Giesecke+Devrient, a technology company based in Germany, disclosed its acquisition of Valid's payment and identity solutions for an undisclosed amount. This strategic move by G+D aims to expedite its expansion in the United States, a major market for payment and identification. Amidst ongoing industry-wide supply chain challenges, G+D clients stand to benefit from the increased business scale resulting from this acquisition. Valid, a technology company headquartered in Brazil, brings valuable expertise to G+D's portfolio.
Major companies operating in the note sorter market report are Bcash Electronics Co. Ltd., Crane Payment Innovations Inc., De La Rue Plc, Giesecke & Devrient GmbH, Glory Global Solutions Limited, GRG Banking Equipment Co. Ltd., Julong Europe GmbH, Kisan Electronics Co. Ltd., Laurel Bank Machines Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Maxsell Co., Knight Sun Impex Private Limited, Zhejiang Weirong Electronic Co. Ltd., Hitachi Ltd., CBPM & Xinda Banking Equipment Co. Ltd., Cummins Allison Corp., Cassida Corporation, SuzoHapp Group, CIMA S.p.A., Talaris Limited, Tokyo Century Corporation, Billcon Corporation, Currency Tech GmbH, Anhui Lema International Co. Ltd., Suzhou Procoin Money Handling Systems Co. Ltd., SCAN COIN AB, Uchida Yoko Co. Ltd., Innovative Technology Ltd., KICTeam Inc., Forus Electric Private Limited, Australian Integrity Systems, Abacus Cash Systems Pty. Ltd., Note Counting Machine, Sarsanwala Trading Co. LLC .
North America was the largest region in the note sorter market in 2023. The regions covered in the note sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the note sorter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The note sorter market consists of sales of note sorter 2+1 and note sorter 3+1. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.