Summary
Major players in the note sorter market are Bcash Electronics Co. Ltd., Crane Payment Innovations Inc., De La Rue Plc., Giesecke & Devrient GmbH, Glory Global Solutions Limited, GRG Banking, Julong Europe GmbH, Kisan Electronics, Laurel Bank Machines Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Maxsell Co., Knight Sun Impex Private Limited, Zhejiang Weirong Electronic Co. Ltd., Hitachi Ltd., and Cbpm & Xinda Banking Equipment Co. Ltd.
The global note sorter market is expected to grow from $5.65 billion in 2022 to $6.07 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The note sorter market is expected to grow to $7.94 billion in 2027 at a CAGR of 6.9%.
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.
A note sorter refers to a machine that optimizes the cash management process by sorting and bundling the notes efficiently based on the denomination. They are used for bundling, sorting, and counting the notes or cash.
North America was the largest region in the note sorter market in 2022. The regions covered in the note sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major types of note sorters are small note sorters, medium note sorters, and large note sorters.A small-sized note sorter refers to a machine that is small in size and requires a smaller occupation area.
The major types of enterprises involved are large enterprises and small and medium enterprises (SMEs). Various end-users include BFSI, retail, and others.
The increasing growth of commercial banks is expected to propel the note sorter market going forward.A commercial bank is a financial institution that offers its customers services such as loans, savings bank accounts, and bank overdrafts.
These banks make money by charging interest on the money they lend to customers.Note sorters are used in commercial banks for checking the authenticity and fitness of notes and facilitating the management of notes for cash.
They help in identifying and segregating suspected counterfeit notes. For instance, in 2021, according to World Bank Open Data, a US-based provider of global development data, the number of global commercial bank branches per 100,000 adults increased from 10.7 banks in 2020 to 11.2 banks in 2021. Further, the total deposits at US commercial banks stood at around $18 trillion in 2021. Therefore, the increasing growth of commercial banks is driving the note sorter market.
Technological advancements are a key trend gaining popularity in the note sorter market.Major companies operating in the note sorter market are focused on developing new technological solutions to strengthen their position.
For instance, in January 2022, Godrej & Boyce, an India-based manufacturer of highly engineered products and solutions, launched Valumatic, a technologically advanced CIS-based currency handling machine.It is uniquely designed with 3D and color sensor value counters to accurately detect denominations and fake currency.
It can accurately detect denominations and fake currencies of up to 10 world currencies and has the ability to capture an image and a serial number. It can be connected to the printers for generating the reports, and it is easy to upgrade the software.
In February 2020, Crane Payment Innovations Inc., a US-based provider of banknote and coin validation, asset management software, and note and coin sorting machines, acquired Cummins Allison Corp for an undisclosed amount. With this acquisition, Crane is expected to expand and strengthen its portfolio, as well as create new opportunities to better serve its customers. Cummins Allison Corp. is a US-based manufacturer of currency handling and coin handling systems for banks and casinos.
The countries covered in the note sorter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The note sorter market research report is one of a series of new reports 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.
