Global Note Sorter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global note sorter market size reached US$ 6.2 Billion in 2022. Looking forward, the market is expected to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.83% during 2022-2028.

A note sorter is a machine that optimizes the cash management process by effectively sorting and bundling banknotes. It is convenient and provides increased productivity, efficiency, and security. It is widely utilized in organizations that handle a large deposit of money, such as banks, casinos, theme parks, self-service kiosks, and transit services. Nowadays, several manufacturers are offering an upgraded, intelligent, and reliable note sorter, which is integrated with optical inspection and image processing technology to identify fake denominations.

Note Sorter Market Trends

Manual cash processing is usually ineffective and time-intensive and involves a high risk of error. As a result, organizations from different industry verticals are adopting note sorters for smooth, efficient, and continuous processing of large volumes of banknotes. In addition, it helps in reducing operational expenses, minimizing the risk of internal theft, and declining financial losses. This, along with the considerable need for hassle-free handling of huge cash deposits, is positively influencing the utilization of note sorters in the banking, financial services, and insurance (BFSI) sectors. Apart from this, the emerging trend of theme amusement parks is also contributing to market growth. In addition, the growing popularity of casinos and other gambling games is catalyzing the demand for note sorters for keeping track of the sales. Furthermore, the increasing focus of leading players on mergers and acquisitions (M&A) is creating a positive outlook for the market. For instance, Crane Payment Innovations (CPI), Inc., a Crane Co. subsidiary and global leader in banknote and coin validation, acquired Cummins Allison, which is a leading provider of coin, currency, and check handling solutions to lead innovations in existing products and services.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global note sorter market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on sorter type, enterprise size and end user.

Breakup by Sorter Type:

• Small Size Note Sorter
• Medium Size Note Sorter
• Large Size Note Sorter

Breakup by Enterprise Size:

• Large Enterprises
• Small and Medium Enterprises

Breakup by End User:

• BFSI
• Retail

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global note sorter market in 2022?
2. What is the expected growth rate of the global note sorter market during 2023-2028?
3. What has been the impact of COVID-19 on the global note sorter market?
4. What are the key factors driving the global note sorter market?
5. What is the breakup of the global note sorter market based on the sorter type?
6. What is the breakup of the global note sorter market based on the enterprise size?
7. What is the breakup of the global note sorter market based on the end user?
8. What are the key regions in the global note sorter market?
9. Who are the key players/companies in the global note sorter market?