Global Note Sorter Market to Reach US$ 13.6 Billion by 2032, Impelled by Increasing Product Demand from Banking Sector

June 21, 2022 | BFSI

According to the latest report by IMARC Group, titled "Note Sorter Market Report by Sorter Type (Small Size Note Sorter, Medium Size Note Sorter, Large Size Note Sorter), Enterprise Size (Large Enterprises, Small and Medium Enterprises), End User (BFSI, Retail, and Others), and Region 2024-2032," the global note sorter market reached a value of US$ 6.7 Billion in 2023. A note sorter refers to a device that is generally used to accurately count and sort banknotes. It mainly provides the total amount of cash commonly required for wrapping and storage. It is widely used across banks, casinos, financial institutions, self-service kiosks, theme parks and transit services. It aids in reducing human efforts while minimizing errors occurring during the sorting and counting of cash. Besides this, it also helps in fast processing of bank procedures, declining financial losses and reducing the risks of internal theft occurring during the process of sorting and counting while decreasing operational expenses.

Global Note Sorter Market Trends:

The global market is primarily driven by the increasing product demand from the banking, financial services and insurance (BFSI) sector. With the widespread adoption of hassle-free equipment, there has been a considerable increase in the utilization of note sorters across multiple industrial verticals. Since note sorter machines provide efficient, smooth and continuous processing of large volumes of cash, this is providing a boost to the market. In addition to this, the growing popularity of gambling games among the masses, especially among young adults, is significantly supporting the product demand across multiple countries. Moreover, continual technological advancements and the integration of sensors with note counter machines are considered to be major growth-inducing factors. Other factors, including the rising development of financial institutes across rural and geographical extended locations, continuous product innovations, including the miniaturization of note sorters, the increasing volume of currency circulation, and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 13.6 Billion by 2032, exhibiting a CAGR of 7.9% during 2024-2032.

Market Summary:

  • On the basis of the sorter type, the market has been segmented into small, medium and large size note sorters.
  • Based on the enterprise size, the market has been segregated into large and small and medium enterprises.
  • On the basis of the end-user, the market has been classified into BFSI, retail and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BCASH Electronics Co. Limited, Cummins Allison Corp. (Crane Payment Innovations Inc.), De La Rue plc, Giesecke+Devrient GmbH, Glory Ltd., GRG Banking, Julong Co., Ltd., Kisan Electronics, Laurel Bank Machines Co. Ltd., and Toshiba Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Sorter Type, Enterprise Size, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BCASH Electronics Co. Limited, Cummins Allison Corp. (Crane Payment Innovations Inc.), De La Rue plc, Giesecke+Devrient GmbH, Glory Ltd., GRG Banking, Julong Co., Ltd., Kisan Electronics, Laurel Bank Machines Co. Ltd., and Toshiba Corporation
Customization Scope 10% Free Customization
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Note Sorter Market to Reach US$ 13.6 Billion by 2032, Impelled by Increasing Product Demand from Banking Sector
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