Coin sorter is used as a sorting unit to facilitate the management of cons for cash intensive businesses. Implementation of coin sorting machines reduces the human efforts wasted during the processes of counting and sorting. These products establish automated cash-handling process for coins and enable time & cost saving for the organization by delivering error free results.
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The global coin sorter market is segmented based on type and geography. By type, the market is divided into small size coin sorter, medium size coin sorter, and large size coin sorter.
This report features information on coin sorter offered by key vendors. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Furthermore, the report highlights the altered strategies of key players which they have adopted to improve their coin sorter market share and sustain competition.
The Global Coin Sorter Market
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The Global Coin Sorter Market, By Type
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The Global Coin Sorter Market Segmentation
The global coin sorter market was valued at $3,486 million in 2016, and is projected to reach $5,415 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023.
The North America coin sorter market generated the highest revenue in 2016, owing to rise in demand for advanced products and growth associated with retail & banking sector, which stimulate end users to enhance their automated cash handling needs. The Asia-Pacific coin sorter market growth is expected to witness highest CAGR, owing to the presence of high untapped market potential and surge in need for advanced products.
The key players operating in the global coin sorter market include Giesecke & Devrient, Glory Global Solutions Limited, Laurel, Delarue, Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., ltd., BCash, CT Coin, and others. These players have expanded their coin sorter market share by adopting various business strategies, such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.
Top Investment Pockets
The following figure represents the coin sorter market attractiveness for various regions. It is evident from the figure that the Asia-Pacific is the top investment pocket, owing to factors such as increase in adoption of advanced products among end users and growth associated with retail industry in the countries such as China, Japan, and Australia. LAMEA is projected to be the second most lucrative segment, due to considerable economic growth in Central America and Latin America. In 2016, the Asia-Pacific accounted for $609 million, and is expected to reach $1,067 million by 2023, growing at a CAGR of 8.7% during the forecast period.
Top Impacting Factors
The global coin sorter market is influenced by a number of factors, including growth associated with commercial banks & retail industry, increase in demand for automated cash handling products, surge in demand for technologically advanced self-service machines, increased application areas, and inclination of consumers towards digital transaction solutions.
Key Benefits for Stakeholders
- In-depth analysis of the market and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the market and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players in the global coin sorter industry.
- Comprehensive analysis of the trends, subsegments, and key revenue pockets is provided.
- Detailed analysis of the key players operating in the industry and their business strategies is anticipated to assist stakeholders to take informed business decisions…