Note Sorter Market: Global Industry Analysis and Forecast (2022-2029)

Note Sorter Market size was valued at US$ 5.05 Bn. in 2022. Note Sorter Market will bring a great deal of transformation in BFSI and Retail Industry.
Note Sorter Market Overview:
Note sorter is the coin and note computing equipment that is widely used among banks and financial institutions for counting and sorting money. Includes UV and magnetic sensors that allow banks to detect counterfeit banknotes and improve performance. Note sorters are often used by banks and fintech institutions that handle large amounts of cash. In addition, managers can process the cash counting process efficiently, improving cash accuracy and security.To know about the Research Methodology:- Request Free Sample Report
Note Sorter Market Dynamics:
Increased demand from developing countries to facilitate the handling of banknotes and increased acceptance of banknote sorters by commercial banks and retailers are key factors driving the growth of the note sorter market. The increasing acceptance of banknote sorters by banks and financial institutions is driving market growth with many features, including increased security and accuracy during the cash counting process and accuracy of the cash settlement process. The introduction of advanced technology note sorters and the increasing penetration of cryptocurrencies and digital transactions are driving the growth of the note sorter market.

The expansion of the BFSI sector, the increasing frequency of counterfeiting activities, the increase in commerce, and the increase in cash inflows and outflows highlight the development of advanced cash processing systems that are expected to drive the growth of the note sorter market.

Increased living standards, advances in product technology, and untapped market opportunities offered by emerging economies are expected to drive growth in the note sorter market through the forecast period. The benefits offered by Note Sorter such as reduced error, reduced risk of internal theft, faster processing, reduced economic loss, and especially reduced operational costs. It tends to complement the demand for solutions for counting and sorting cash which is driving the growth of the note sorter market.

Manual cash processing is usually ineffective, time-consuming, and at high risk of error. For this, companies in various industries are using note sorters to process large numbers of banknotes smoothly, efficiently, and continuously. It helps reduce operating costs, minimize the risk of internal theft, and reduce economic loss. The need to easily handle large cash deposits has a positive influence on the use of note sorters in the banking, financial services, and insurance (BFSI) sectors. The growing popularity of casinos and other gambling games has increased the demand for note sorters to track sales. These factors are driving the demand for note sorters in the market.

The high implementation and maintenance costs of banknote sorters and the increase in digital and online transactions, as well as the use of cryptocurrencies and plastic money, are restraining the growth of the note sorter market.

Market trends and challenges are analyzed and compiled in the report. The data of 2022 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2017 to 2022 with market forecast until 2029.
Note Sorter Market Recent Development:
January 2020, Glory Global Solutions International Ltd has announced a major investment in Acrelec Group SAS., Acrelec is the world's leading provider of responsive service solutions for restaurants and retail brands, while Glory is a pioneer in cash automation technology and process engineering services.

February 2020, Crane Payments Innovations (CPI), a leading player in the note sorter market, announced the acquisition of Cummins Allison. Cummins Allison is a leading provider of coins, banknotes, check processing solutions, cash sorting solutions, and ATMs. CPI is the world's leading provider of cashless payment systems, asset management software, and banknote and coin verification systems.
Note Sorter Market Segment Analysis:
By Type, The small-sized note sorter dominated the market with a 37 % share in 2022. Increase in demand from developing nations, the adoption has gained traction among end-users, owing to the rapidly evolving infrastructural money handling needs, higher acceptance of end-of-the-day deposit management solutions, their increased application areas, and rise in the number of cash-intensive environment facilities. These factors are driving the growth of the segment in the market.

The Medium-Sized segment is expected to grow at a CAGR of 3 % through the forecast period. The surge in the integration of advanced technologies such as artificial intelligence, machine learning, and IoT technologies among the medium-sized note sorter machine.

By End User, the BFSI segment dominated the market with 43 % share in 2022. . The increasing acceptance of banknote sorters by banks and financial institutions with many features, including increased security and accuracy during the cash counting process and accuracy of the cash settlement process. These factors are driving the growth of the segment in the market.
Note Sorter Market Regional Insights:
North America dominated the market with a 41 % share in 2022. The region has well established BFSI sector, advanced technological solutions to cash handling systems. Major market leaders are from this region. These factors are driving the growth of the note sorter market in this region.

Asia Pacific is expected to grow at a CAGR of 5 % through the forecast period. The rising Retail industry, increasing disposable income, rapid industrialization, augmenting BFSI sector and countries like India, Thailand, etc. have high usage of banknotes. These factors are expected to drive the growth of the market in this region.

The objective of the report is to present a comprehensive analysis of the Note Sorter market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Note Sorter market dynamics, structure by analyzing the market segments and project the Note Sorter market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Note Sorter market make the report investor’s guide.
Note Sorter Market Scope: Inquire before buying



Note Sorter Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 5.05 Bn.


Forecast Period 2023 to 2029 CAGR:
6%
Market Size in 2029:
US $ 7.60 Bn.


 Segments Covered:
by Type
• Small Sized
• Medium Sized
• Large Sized


by End User
• BFSI
• Retail
• Others



Note Sorter Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Note Sorter Market Key Players
• Bcash, Electronics Co.
• Cummins-Allison Corp.
• De La Rue plc
• Giesecke & Devrient GmbH
• Glory Global Solutions Limited
• GRGBanking
• Julong Europe GmbH
• Kisan Electronic
• Laurel Banking Machines
• Toshiba Infrastructure Systems & Solutions Corporation
• Maxsell
• Knight Sun

Frequently Asked Questions:

1. Which region has the largest share in Global Note Sorter Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Note Sorter Market?
Ans: The Global Note Sorter Market is growing at a CAGR of 6% during forecasting period 2023-2029.

3. What is scope of the Global Note Sorter Market report?
Ans: Global Note Sorter Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Note Sorter Market?
Ans: The important key players in the Global Note Sorter Market are – Bcash, Electronics Co., Cummins-Allison Corp., De La Rue plc, Giesecke & Devrient GmbH, Glory Global Solutions Limited, GRGBanking, Julong Europe GmbH, Kisan Electronic, Laurel Banking Machines, Toshiba Infrastructure Systems & Solutions Corporation, Maxsell, and Knight Sun

5. What is the study period of this Market?
Ans: The Global Note Sorter Market is studied from 2022 to 2029.