The global coin sorter market size was estimated to be USD 4,186 million in 2021 and to reach USD 6,905.20 million in 2027, registering a CAGR of 8.7% during the forecast period, 2021-2027. The growth of the coin sorter market is significantly associated with cash-intensive like banks, all-sized retail stores, and commercial units that have to efficiently deal with the increase in demand for self-serving machines that help them save on time and human effort to deliver the accuracy ultimately. An escalating rate of automated cash handling products and surge in demand for technologically advanced self-service machines are projected to provide a collective push to the global coin sorter market.
Key Growth Influencers to be Associated with Coin Sorter Industry over Forecast Period
The lightweight, flexible, easily adjustable, and convenient set-up modular coin sorters will continue to garner traction worldwide. The market revenue is expected to experience gradual expansion due to the rising consumer inclination toward digital transaction solutions, placing the adoption of such high-maintenance machinery in the backseat. An increasing number of businesses in the segment of coin exchange services in retail supermarkets is another strong factor bolstering sales of coin sorters in the global market.
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Introduction of advanced technological features in coin sorter machines that impart them an excellent speed of coin counting and superior efficiency is expected to bode well for the market expansion during the forecast period. Coin sorting machines with advanced technologies like coin wrapping and anti-jam technology have been sought-after over the recent past. This will remain a key driver to market growth. However, with high capital investment costs, there remain some major obstacles in front of potential consumer industries, especially across developing regional markets. High costs will thus remain the key restraining factor limiting the growth of the coin sorter market when it comes to adoption by small- and mid-sized enterprises.
Impact of COVID-19 on Coin Sorter Market
The coin sorter market has had a major impact of the COVID-19 outbreak. Abrupt shuttering of businesses worldwide, a lasting halt to production activities, limited logistics, and transportation, frozen supply chain networks, and the standstill trade scenario collectively gave rise to plunging markets and a steeply descending economy. The economic downfall across almost every industry in the world hit heavily on the coin sorter market space as well. The market is likely to revive gradually in 2021 and beyond. However, the challenge thrown by the growing prominence of digital currency is prevalent when it comes to new coin sorter machine sales.
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Scope of the Report
The report outlines the global Coin Sorter Market study based only on type, applications, and regional market.
Based on the type, the coin sorter market has been segmented into –
- Small Type
- Mid Type
- Large Type
Based on the applications, the coin sorter market has been segmented into –
- Bank
- Retailing
- Other
Coin Sorter Market Regional Outlook
Based on the region, the global Coin Sorter Market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, Asia Pacific held the largest share of the total global Coin Sorter Market, followed by North America and Europe. Moreover, North America is expected to project the highest CAGR globally over the forecast period.
Key Global Coin Sorter Market Competitors Includes
The global Coin Sorter Market is highly fragmented, with the presence of a large number of small players across the globe. The vital Coin Sorter Industry operating in the global market are –
- Giesecke & Devrient
- Glory Global Solutions Limited
- Laurel
- Delarue
- Baija Baiter
- Royal Sovereign
- Cummins Allison
- Suzhou Ribao Technology Co., Ltd.
- BCash
- CT Coin.
The Coin Sorter Market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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Coin Sorter Market Report Covers Comprehensive Analysis On
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Coin Sorter Market Regional Analysis Includes
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
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Coin Sorter Market Target Audience
- Manufacturers of Coin Sorter
- Raw Material Suppliers
- Traders, Distributors, and Suppliers of Coin Sorter
- Government & Regional Agencies and Research Organizations
- Investment Research Firms
- Investment Banks
