What is Cash Automation Service Market?
Cash automation service refers to the machine-assisted handling and processing of cash, often in a bank or similar setting. This type of automation helps to solve the problems that come with managing large amounts of cash by hand. It also provides significant improvements in savings, security efficiency, and sales. This service is used by the largest financial institutions, successful retailers, leaders in the self-service technology industry. It helps to streamline cash operations.
Highlights from Cash Automation Service Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Jack Henry & Associates, Inc. (United States), Socal Safe Company (United States), ARCA (United States), Benchmark Technology Group (United States), KEBA (Austria), Glory Global Solutions (International) Limited (United Kingdom), Giesecke+Devrient GmbH (Germany), Quality Data Systems (United States) and Digital Check Corp. (United States) |
The global Cash Automation Service market is fragmented due to the presence of several players at the global and regional levels. The level of competition among the companies in the Cash Automation Service market is intense. Companies are investing in new cash automation technology. Players are participating in strategic activities such as mergers and acquisitions to enhance their market presence.
Jack Henry & Associates, Inc. (United States), Socal Safe Company (United States), ARCA (United States), Benchmark Technology Group (United States), KEBA (Austria), Glory Global Solutions (International) Limited (United Kingdom), Giesecke+Devrient GmbH (Germany), Quality Data Systems (United States) and Digital Check Corp. (United States) are some of the key players profiled in the study. Cash Automation Service Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Banking and Financial Institute, Financial Institutions, Large Enterprise and Other |
Deployment | Cloud-based,Web-based |
Offering | Software-as-a-Service (SaaS),Services |
On the basis of geography, the market of Cash Automation Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in Cash Automation Technology The Provides Access to Near-Real-Time and Historical Data For Cash Flow and Device Usage
Market Growth Drivers:
Growing Automation in Several Banks and Finance Related Businesses and Increasing Need for Improved and Timing Saving Cash Inventory System
Challenges:
High Cost and Time Required For Installation of Cash Automation System
Restraints:
Inadequate Knowledge and Lack of Support for Technology May Restrain the Cash Automation Service Market
Opportunities:
Rise in Small Financial Businesses in Developing Countries Looking Forward to Cash Automation Service Market for Business Enhancement
Key Target Audience
Cash Automation Service Providers, Cash Automation Service Tools Developer, Research and Development Institutes, Potential Investors, Industry Associations, Regulatory Bodies and Others
Market Leaders & Development Strategies
On December 22, 2021, Glory Global Solutions Inc., a global leader in cash technology solutions, announced it has completed its acquisition of Carrollton, TX-based Revolution Retail Systems LLC. Together, Glory and Revolution bring a combined portfolio of cash automation products to serve the retail market sector the largest and most diverse set of solutions available in the industry.
Glory Global Solutions (Glory), a leader in cash automation and recycling solutions, and QikServe, Inc. (QikServe), a top supplier of digital ordering and payment solutions for the restaurant sector, have partnered and integrated their platforms.