Retail is a highly competitive business with razor-thin profit margins. As a result, merchants of all sizes are constantly seeking for strategies to optimize their business processes. Retail cash management solutions are frequently a focus of these optimization efforts. Maintaining cash can be expensive, and shops typically see more cash transactions than other businesses. Innovative solutions assist businesses in lowering expenses and managing funds more effectively. Moreover, as technology advances, new solutions for cash management in the retail industry are expected to emerge.
The unavailability of a proper in-store workforce during the period of the COVID-19 pandemic aided in propelling the growth of the global retail cash management market. Moreover, the social distancing and sanitization policies implemented across various parts of the world further supported the growth of the retail cash management solutions market. However, implementation and maintenance costs of cash management solutions can hamper the retail cash management market forecast. On the contrary, advancements in technologies like big data and machine learning are expected to offer remunerative opportunities for the expansion of the retail cash management market during the forecast period.
The global retail cash management market is segmented on the basis of component, application, deployment mode, enterprise size, and region. On the basis of component, the industry is divided into solution and service. Depending on the application, the market is classified into balance & transaction reporting, cash flow forecasting, corporate liquidity management, payables & receivables, and others. On the basis of deployment mode, the industry is segmented into on-premise and cloud. Depending on enterprise size the industry is bifurcated into large enterprises and small and medium sized enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global retail cash management market is dominated by key players such as ALVARA Digital Solutions GmbH, Aurionpro Solutions Limited, Giesecke+Devrient GmbH, Glory Global Solutions, NTT DATA Corporation, Nucleus Software Exports Ltd., Oracle Corporation, Sopra Banking Software SA, The Sage Group plc, and Tietoevry. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
The unavailability of a proper in-store workforce during the period of the COVID-19 pandemic aided in propelling the growth of the global retail cash management market. Moreover, the social distancing and sanitization policies implemented across various parts of the world further supported the growth of the retail cash management solutions market. However, implementation and maintenance costs of cash management solutions can hamper the retail cash management market forecast. On the contrary, advancements in technologies like big data and machine learning are expected to offer remunerative opportunities for the expansion of the retail cash management market during the forecast period.
The global retail cash management market is segmented on the basis of component, application, deployment mode, enterprise size, and region. On the basis of component, the industry is divided into solution and service. Depending on the application, the market is classified into balance & transaction reporting, cash flow forecasting, corporate liquidity management, payables & receivables, and others. On the basis of deployment mode, the industry is segmented into on-premise and cloud. Depending on enterprise size the industry is bifurcated into large enterprises and small and medium sized enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global retail cash management market is dominated by key players such as ALVARA Digital Solutions GmbH, Aurionpro Solutions Limited, Giesecke+Devrient GmbH, Glory Global Solutions, NTT DATA Corporation, Nucleus Software Exports Ltd., Oracle Corporation, Sopra Banking Software SA, The Sage Group plc, and Tietoevry. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global retail cash management market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global retail cash management market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2021 to 2031 is provided to determine the market potential.
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Key Market Segments
By Deployment Mode
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small and Medium Sized Enterprises
By Component
- Service
- Solution
By Application
- Cash Flow Forecasting
- Payables Receivables
- Others
- Balance Transaction Reporting
- Corporate Liquidity Management
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- 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
- Tietoevry
- Giesecke+Devrient GmbH
- Glory Global Solutions
- The Sage Group PLC
- Oracle Corporation
- ALVARA Digital Solutions GmbH
- Aurionpro Solutions Limited
- Sopra Banking Software SA
- Nucleus Software Exports Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RETAIL CASH MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: RETAIL CASH MANAGEMENT MARKET, BY APPLICATION
CHAPTER 6: RETAIL CASH MANAGEMENT MARKET, BY DEPLOYMENT MODE
CHAPTER 7: RETAIL CASH MANAGEMENT MARKET, BY ENTERPRISE SIZE
CHAPTER 8: RETAIL CASH MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the retail cash management market was valued at $3.2 billion in 2021, and is estimated to reach $12.1 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.The Retail Cash Management Market is likely to experience a significant growth rate of 14.5% from 2022-2031 owing to increasing market demand from banking sector
Retail is a highly competitive business with razor-thin profit margins. As a result, merchants of all sizes constantly seek for strategies to optimize their business processes. Retail cash management solutions are frequently a focus of these optimization efforts. Maintaining cash can be expensive and shops typically see more cash transactions than other businesses. Innovative solutions assist businesses in lowering expenses and managing funds more effectively. Moreover, as technology advances, new solutions for cash management in the retail industry are expected to emerge.Key factors driving the growth of the Retail Cash Management market include The unavailability of a proper in-store workforce during the period of the COVID-19 pandemic. Moreover, the social distancing and sanitization policies implemented across various parts of the world further supported the growth of the retail cash management solutions market. Further, the shift towards digital payments and mobile banking was driving the need for innovative retail cash management solutions. This included mobile apps, digital wallets, and contactless payment options, all of which aimed to reduce the reliance on physical cash. Furthermore, retailers were investing in advanced analytics and cash flow forecasting tools to better predict their cash needs. This helped optimize cash levels, reduce idle cash, and ensure that sufficient funds were available for operational needs. Moreover, cash management providers were offering value-added services beyond basic cash handling, such as data analytics, reporting, and insights into spending patterns. These services helped retailers make more informed decisions about their cash management strategies.
The market also offers growth opportunities to the key players in the market. Retailers can leverage technology to automate cash handling processes such as counting, sorting, and depositing. Automated cash management systems can reduce human error, save time, and optimize staffing resources. Cash management solutions can provide valuable insights into spending patterns, peak transaction times, and cash flow trends. Retailers can use this data to make informed decisions about staffing, inventory management, and marketing strategies. Cash recycling machines allow retailers to reuse deposited cash for making change, reducing the need for frequent cash replenishment. These solutions can improve cash availability and reduce transportation costs. Further, integrating mobile payment options and contactless transactions at the point of sale reduces the reliance on physical cash. Retailers can partner with payment providers to offer convenient and secure digital payment methods. Furthermore, retailers expanding into new markets or regions may encounter unique cash management challenges. Companies that provide solutions tailored to different regulatory environments and currencies can find opportunities in this space.
The retail cash management market is segmented on the basis of component, application, deployment mode, enterprise size, and region. On the basis of component, the industry is divided into solution and service. By application, the market is classified into balance & transaction reporting, cash flow forecasting, corporate liquidity management, payables & receivables, and others. On the basis of deployment mode, the industry is segmented into on-premise and cloud. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, Portugal and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).
The key players profiled in the study include ALVARA Digital Solutions GmbH, Aurionpro Solutions Limited, Giesecke+Devrient GmbH, Glory Global Solutions, NTT DATA Corporation, Nucleus Software Exports Ltd., Oracle Corporation, Sopra Banking Software SA, the Sage Group plc, and Tietoevry. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in May 2023, Intellect Design Arena Ltd, a cloud-native, future-ready multi product FinTech company for the world’s leading financial and insurance clients, announced that Union Bank of India (UBI) has chosen Cash Management System built on eMACH.ai to automate and elevate their enterprise-wide cash flows. This strategic partnership with Intellect will provide UBI with a fully-integrated Cash & Payments Management platform, which is expected to enhance the experience and operational efficiency of their corporate and SME customers.
Key Market Insights
By application, the balance & transaction reporting segment accounted for the highest Retail Cash Management market share in 2022.By component, the solution segment accounted for the highest share in Retail Cash Management market in 2022.
By region, North America generated the highest revenue in 2022.
Companies Mentioned
- Tietoevry
- Giesecke+Devrient GmbH
- Glory Global Solutions
- The Sage Group PLC
- Oracle Corporation
- ALVARA Digital Solutions GmbH
- Aurionpro Solutions Limited
- Sopra Banking Software SA
- Nucleus Software Exports Ltd.
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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