A coin sorter is a device that sorts a random collection of coins into separate bins or tubes for various denominations. Coin sorters are typically specific to the currency of certain countries due to different currencies often issuing similarly sized coins of different value. Coin sorting is a time-consuming operation that diverts employees' attention away from other vital revenue-generating procedures. Furthermore, the human error element is predicted to create losses to the organization throughout this procedure, which can be decreased and overcome by the employment of coin sorting machines. As a result, end users have been pushed to use coin sorting machines that have been optimized for increased efficiency and performance.
Coin sorting machines offer varied benefits to end users that include decreased operational expenses, reduced errors in sorting and counting, reduced risk of internal theft occurring during the process of counting and sorting, decline in financial losses, faster processing of bank procedures, and others. Further, increase in growth associated with highly cash-intensive environments, such as retail industry, commercial banks, public sector outlets, casinos, amusement parks, venting businesses, car wash businesses, self-service kiosks, small size stores, and others among developing economies, is expected to fuel the demand for these machines during the forecast period. However, increase in penetration of digital transaction and virtual currency is expected to hamper the coin sorter market growth. On the contrary, the rise in demand from cash-intensive countries is expected to provide major lucrative opportunities for the growth of the market in upcoming years.
The coin sorter market is segmented based on type and region. On the basis of type, the market is divided into small size coin sorter, medium size coin sorter, and large size coin sorter. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the coin sorter market are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, De La Rue Plc Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., Ltd., BCash, and CT Coin. These players have adopted various strategies to increase their market penetration and strengthen their position in the coin sorter market analysis.
Coin sorting machines offer varied benefits to end users that include decreased operational expenses, reduced errors in sorting and counting, reduced risk of internal theft occurring during the process of counting and sorting, decline in financial losses, faster processing of bank procedures, and others. Further, increase in growth associated with highly cash-intensive environments, such as retail industry, commercial banks, public sector outlets, casinos, amusement parks, venting businesses, car wash businesses, self-service kiosks, small size stores, and others among developing economies, is expected to fuel the demand for these machines during the forecast period. However, increase in penetration of digital transaction and virtual currency is expected to hamper the coin sorter market growth. On the contrary, the rise in demand from cash-intensive countries is expected to provide major lucrative opportunities for the growth of the market in upcoming years.
The coin sorter market is segmented based on type and region. On the basis of type, the market is divided into small size coin sorter, medium size coin sorter, and large size coin sorter. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the coin sorter market are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, De La Rue Plc Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., Ltd., BCash, and CT Coin. These players have adopted various strategies to increase their market penetration and strengthen their position in the coin sorter market analysis.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the coin sorter market share along with the current trends and future estimations to illustrate the imminent investment pockets
- Information about key drivers, restrains, & opportunities and their impact analysis on the coin sorter market size are provided in the report
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the coin sorter industry
- The quantitative analysis of the coin sorter market trends from 2021 to 2030 is provided to determine the market potential
Key Market Segments
By Type
- Small Size Coin Sorter
- Medium Size Coin Sorter
- Large Size Coin Sorter
By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Giesecke & Devrient
- Glory Global Solutions Limited
- Laurel
- De La Rue Plc
- Baija Baiter
- Royal Sovereign
- Cummins Allison
- Suzhou Ribao Technology Co, Ltd
- BCash
- CT Coin
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Coin Sorter Market, by Type
Chapter 5: Coin Sorter Market, by Region
Chapter 6: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a recent report titled, “Coin Sorter Market by Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,”The coin sorter market size was valued at $3.81 billion in 2020, and is projected to reach $8.41 billion by 2030, growing at a CAGR of 8.6% from 2021 to 2030.
Coin sorter helps to reduce the time of the employee to sort coins and do more productive work. Furthermore, specialized office machines and equipment, including note counting machines, currency verifiers, and others help to improve workplace efficiency and accuracy in business transactions. These machines provide a variety of solutions, all aimed to improve efficiency, accuracy, and productivity. Coin sorter machines for instance have become indispensable to most retail shops, banks, and hotels today. Businessmen use these currency machines, as they offer various benefits. The machine proves to be very useful in daily operations.
Instead of having to roll their own coins and count themself, users can use this tool to make sure that everything is accurate without having to invest a lot of time. In addition, one of the major reasons businesses turn to these machines is for the time it saves them. This is a great cash management solution. Furthermore, aside from being an easier and more efficient way to count money, mmf coin sorter machines also helps to keep businesses and their employees healthier. Money is handled by many hands, which makes it full of germs. Therefore, the less employees touch this money, the less amount of germs are exchanged. Thus, these are the key factors that boost the growth of the coin sorter market. Furthermore, Daniele Tartaglia has created an electromechanical coin sorting machine that not only works as a coin separator but also stacks coins based on denominations and counts & totals them as they drop through a curvy maze. Therefore, with the help of such inventions, the coin sorter market share will grow in the upcoming years.
On the basis of type, the large sized coin sorter segment is expected to grow at a fastest rate during the forecast period. This is attributed to the fact that these machines are used by gas stations, clothing stores, restaurants, delivery services, convenience stores, and other cash handling businesses.
By region, the coin sorter market was dominated by North America in 2021, and is expected to maintain this trend during the forecast period. North America is one of the biggest markets for the automated cash handling market, owing to the rise in availability of retail outlets, which contributes to the growth of the market in this region. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period as end-use industries in the region possess high potential and strong market demand, owing to the need for automation of cash handling and rise in presence of highly cash-intensive businesses.
The coin sorter industry is moderately impacted by the COVID-19 outbreak. This is attributed to the fact that consumer trends toward coins is reducing due to the growth of digital payments. However, due to the fear of spread of the virus, various retailers have installed coin sorter machines to not touch them directly. Therefore, this is a major coin sorter market trend during the COVID-19 pandemic.
Key Findings Of Study
- By type, the large-sized coin sorter segment led the market in terms of revenue in 2020
- By region, North America generated the highest revenue in 2020
- The key players profiled in the coin sorter market analysis are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, De La Rue Plc, Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., Ltd., BCash, and CT Coin These players have adopted various strategies to increase market penetration and strengthen their position in the coin sorter market growth
Companies Mentioned
- Giesecke & Devrient
- Glory Global Solutions Limited
- Laurel
- De La Rue Plc
- Baija Baiter
- Royal Sovereign
- Cummins Allison
- Suzhou Ribao Technology Co., Ltd.
- BCash
- CT Coin.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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