In the past few years, coin sorters have witnessed increasing uptake in the banking institutions and retail outlets owing to the rising need for simplifying the coin sorting and counting tasks. In addition, accuracy and time saving are some of the other major factors that accelerated the adoption of coin sorters among end-users. Deploying coin sorters in the banks and retail outlets can result in the improved customer experience. This, in turn, is anticipated to create significant revenue opportunities for prominent players operating in the coin sorter industry.
DataCube Research offers market analysis, trends, future outlook, market size, and forecast for the research study titled “Coin Sorter Market: Global Industry Analysis, Size, and Forecast, 2019-2031"
Browse Full Report: Coin Sorter Market | Analysis 2019-2031
The global coin sorter market is segmented into coin sorter type, business type, distribution channels, and region. Based on coin sorter type, the global coin sorter market is bifurcated into large size coin sorter, medium size coin sorter, and small size coin sorter segments. In 2021, the small size coin sorter segment dominated the overall coin sorter market owing to the high adoption of small size coin sorters among small businesses and banks for managing their regular deposit tasks.
Based on grade, the coin sorter market is segmented into business grade and bank grade. In 2022, the bank grade segment dominated the global coin sorter market in terms of revenue opportunities for prominent players. This is primarily attributed to the increasing use cases of bank grade coin sorters, especially among casinos and banks.
Other Prominents Segments
Based on capacity, the market is segmented into coin bin capacity and hopper capacity. By display type, the market is bifurcated into LED display coin sorter and LCD display coin sorter.
The global coin sorter market is analyzed across six major regions such as North America, Latin America, Eastern Europe, Western Europe, the Middle East and Africa, and Asia Pacific. In 2021, North America accounted for around XX% share of the overall coin sorter market revenue. Increasing the inclination of banks and retail outlets towards coin sorters are one of the major reasons for the growth of the market in North America.
Increasing awareness among banking institution and retail outlets to improve the overall coin management system to reduce overall turnaround time and enhance business productivity is anticipated to expand the overall coin sorter market size at a healthy rate during the forecast period. However, lack of awareness especially among emerging countries and increasing rate of digital transactions across the globe is anticipated to hamper the overall coin sorter market growth.
Key companies analyzed and profiled in the global coin sorter market are Cummins Allison, BCash, Glory Global Solutions Limited, Giesecke & Devrient, Laurel, Suzhou Ribao Technology Co., ltd., Delarue, Baija Baiter, Royal Sovereign, and CT Coin. Prominent players in the coin sorter industry are inclined towards entering into strategic alliance with leading players to gain competitive advantages and enhance their business capabilities. For instance, CTcoin signed a partnership agreement with Hebei Hezhong Hongsheng/Beijing Zhilian Hongsheng to produce a coin counting machine and expand its presence in China coin sorter market.