Coin Sorter Market Scope
Since coin sorting is very complex and time consuming task, it has reduced the organizational efficiency and had negative impacts on the revenue driven businesses. Moreover, manual coin sorting is prone to human errors and ultimately loss to the organization. Thus, automation in money handling and management is required since the past couple of years. Coin sorting provides variety of benefits such as decreased operational expenses, reduced risks and errors in counting and sorting. This devices helps in minimizing the financial losses and faster processing of improved efficiency.
According to AMA, the Global Coin Sorter market is expected to see growth rate of 6.7% and may see market size of USD5.87 Million by 2026.
The Players having a strong hold in the market are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, Delarue and Baija Baiter. Research Analyst at AMA estimates that Asian Players will contribute to the maximum growth of Global Coin Sorter market throughout the predicted period.
GRG Banking (China), Giesecke+Devrient (Germany), Julong Co. Ltd. (China), BCASH ELECTRONICS CO. (China), Glory Global Solutions Limited (United Kingdom), Royal Sovereign International, Inc. (United States), Suzhou Ribao Technology Co., ltd. (China), Laurel Bank Machines CO., Ltd. (Japan), De La Rue plc (United Kingdom) and Guangdong Baijia Baiter Industry CO. Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Cummins Allison Corp (United States) and CT Coin A/S (Denmark).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Coin Sorter market by Type (Small Size Coin Sorter, Medium Size Coin Sorter and Large Size Coin Sorter), by Application (Bank and Retailing) and Region with country level break-up.
On the basis of geography, the market of Coin Sorter 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).
Market Leaders and their expansionary development strategies
On 25th February 2019, Giesecke+Devrient (G+D) Mobile Security has agreed on a cooperation with Arm to provide GSMA-compliant remote provisioning and management of mobility provider data and the ability to transfer IoT device profiles using eSIM. AirOn was developed by G+D Mobile Security to secure the lifecycle management of eSIMs and complies with the remote provisioning specifications for SIM data defined by the GSMA.
On April 9th 2019, the first complete self-service branch in China, CCB Shanghai, Jiujiang Road branch has established an unmanned bank. GRGBanking provided ?AI + Finance? solutions for this unmanned branch, promoting industrial transformation with AI technologies, which indicates GRGBanking has successfully evolved from an ATM manufacturer to an industrial AI solution provider.
Market Trend
- Introduction to Coin Sorters Equipped with Counterfeit Detection Technology
- Adoption of Technologically Advanced and Portable Coin Sorters
Market Drivers
- Robust Growth in Commercial Banking Sector and Retail Industry
- Growing Demand for Automated Cash Handing Equipment
Opportunities
- Growing Demand from South Asian Countries due to Continuously Developing Economies
- Increased Growth Associated with Highly Cash-Intensive Environments
Restraints
- Rising Adoption of Note Currency across the Globe
- Significantly Expensive offerings will Hamper Business Growth
Challenges
- Increased Penetration of Digital Transaction and Virtual Currency
Key Target Audience
Coin Sorter Manufacturers, Coin Sorter Distributors and Traders, Retail Industry Associations, Banking Sector Regulators, Casinos and Self-Service Kiosks Manufacturers, Government Regulators and Others