Note Sorter Market Outlook – 2027
The global note sorter market size was valued at $6.31 billion in 2019, and is projected to reach $9.53 billion by 2027, growing at a CAGR of 7.9% from 2020 to 2027. Note sorters are used as sorting units that facilitate the management of notes for cash-intensive businesses. The note sorter machine helps banks reduce the human efforts as well as reduces different types of error in sorting and counting of cash. In addition, it provides different benefits to end users that include reduced decreased operational expenses, reduced risk of internal theft occurring during the process of sorting and counting, faster processing of bank procedures, and decline in financial losses.
The key factors that drive the growth of the global note sorter market trends rise in demand among the developing nations to hassle-free handling of notes and increase in adoption of note sorter machine in commercial banks and retail industry are some the important factors that boost the growth of the note sorter market across the globe. In addition, increase in adoption among the bank and financial institutions due to its numerous benefits such as increase in the security and accuracy during the process of cash counting and increase in in-flow and out-flow of cash propels the growth of the market.
However, high implementation and maintenance cost of note sorter machine is expected to hamper the growth of the note sorter market. On the contrary, increase in penetration of virtual currency and digital transactions and presence of highly advanced note sorter machines are expected to offer remunerative opportunities for the expansion of the global note sorter market during the forecast period.
The small-size note sorter segment dominated the note sorter industry in 2019, and is projected to maintain its dominance during the forecast period, owing to rise in demand for the note sorter machines among the developing nations of Asia-Pacific In addition to this, the adoption of small-size note sorters has gained traction among end users, owing to the rapidly evolving infrastructural money handling needs, their increased application areas, rise in number of cash-intensive environment facilities, and higher acceptance of end-of-the-day deposit management solutions and others. Furthermore, the medium-size note sorter is expected to grow at a significant CAGR during the forecast period, owing to surge in integration of advance technologies such as artificial intelligence, machine learning, and IoT technologies among the medium-sized note sorter machine.
By Sorter Type
Small-sized note sorter Market holds a dominant position throughout the forecast period
Region wise, the note sorter market was dominated by North America in 2019, and is expected to retain its position during the forecast period. This is attributed due to increase in demand of note sorter machine among business owing to its numerous benefits such as improved efficiency and increase in accuracy of cash counting. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to rise in investment in note sorter machine by various banks and financial institutions in order to establish automated cash handling process for notes.
The report focuses on the growth prospects, restraints, and trends of global note sorter market analysis. The study provides porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on global note sorter market.
Segment Review
The global note sorter market is segmented on the basis of sorter type, enterprise size, end user, and region. In terms of sorter type, the market is fragmented into small-sized note sorter, medium-sized note sorter, and large-sized note sorter. On the basis of enterprise size, the market is bifurcated into large enterprises and small and medium enterprises (SMEs). Depending on end user, it is divided into BFSI, retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By End User
BFSI segment will grow at a highest CAGR of 7.6% during 2020 2027
Competitive Analysis
The key players operating in the global note sorter industry include Bcash, Electronics Co., Cummins-Allison Corp., De La Rue plc, Giesecke & Devrient GmbH, Glory Global Solutions (International) Limited, GRGBanking, Julong Europe GmbH, Kisan Electronics, Laurel and Toshiba Infrastructure Systems & Solutions Corporation. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the note sorter industry.
COVID-19 Impact Analysis
The emergence of COVID-19 is expected to have negative impacted on the note sorter market growth. This is attributed to increase in stringent government rules and regulation to restrict the COVID- 19 outbreak. The banks and financial institutions are shutting down their offices and individuals are not allowed to receive fund from the banks, which is negatively impacting the growth of the market. In addition, the government across the globe have been creating awareness to use online banking and mobile payment service to send and receive money at business store. Furthermore, decrease in COVID-19 rule and regulation for the business is expected to provide lucrative opportunity to boost note sorter market after COVID-19 outbreak.
Top Impacting Factors
Growth Potential from Developing Economies
Growth associated with retail and commercial banks industry among developing nations such as China, Japan, and India is expected to augment the demand to implement note sorters. Note sorter machines are widely applicable in retail industries for smooth & hassle-free handling of notes. Furthermore, the growth in the market for automated cash handling products and increase in demand for technologically advanced self-service machines are expected to increase the market potential in developing economies. Thus, increase in banked population among the developing nation is expected to provide a significant market for the note sorter machines.
By Region
Asia-Pacific would exhibit the highest CAGR of 10.6% during 2020-2027.
Numerous Benefits of Note Sorting Machines
Note sorting machines offer varied benefits to banks and financial institution, which include reduced errors in sorting and counting, decreased operational expenses, decline in financial losses, and faster processing of bank procedures. These are some of the important benefits that allows bank and financial institutions to use note sorter machine.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of global note sorter market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global note sorter market share 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 2020 to 2027 is provided to determine the market potential.
Key Market Segments
By Sorter Type
- Small-Sized Note Sorter
- Medium-Sized Note Sorter
- Large-Sized Note Sorter
By Enterprise Size
- Large Enterprises
- Small and Medium Enterprises
By End-user
- BFSI
- Retail
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bcash, Electronics Co.
- Cummins-Allison Corp.
- De La Rue plc
- Giesecke & Devrient GmbH
- Glory Global Solutions (International) Limited
- GRGBanking
- Julong Europe GmbH
- Kisan Electronic
- Laurel
- Toshiba Infrastructure Systems & Solutions Corporation
Note Sorter Market Report Highlights
| Aspects | Details |
 By SORTER TYPE |
|
 By ENTERPRISE SIZE |
|
 By END USERS |
|
 By Region |
|
 Key Market Players | GRGBANKING, KISAN ELECTRONICS, CUMMINS-ALLISON CORP, TOSHIBA INFRASTRUCTURE SYSTEMS AND SOLUTION CORPORATION, JULONG EUROPE GMBH, LAUREL, BCASH, ELECTRONICS CO, GLORY GLOBAL SOLUTIONS LIMITED, DE LA RUE PLC, GIESECKE AND DEVRIENT GMBH |
Analyst Review
The adoption of note sorter has increased over the time, owing to its numerous benefits such as improving operational efficiency, speeding up the money counting process, and reducing human errors. In addition, note sorter machine helps retail industry owners to count accurate amount of cash in bundles and sort the money accordingly. Furthermore, banking and insurance industries are using note sorter equipment to reduce fraudulent activities in the organization and to identify damaged and fake notes. In addition, various retail banking are adopting note sorter equipment to reduce the human efforts wasted during the processes of cash counting and sorting.
The key providers of note sorter market such as Bcash Electronics Co., GRGBanking, Kisan Electronics, Julong Europe GmbH, and Toshiba Infrastructure Systems & Solutions Corporation account for a significant share in the market. According to industry experts, the note sorter is expected to witness increased adoption in the upcoming years, owing to rise in need to handle complex cash handling procedures at a faster pace and increase in incidences of counterfeiting activities.
In addition, banks and financial institutions are the major users of note sorter. Therefore, increase in adoption of advance note sorter machine in number of small banking, fintech, and other industries in developing nations, such as China, India, Japan, and Thailand, is expected to provide lucrative opportunity for the market growth. North America is expected to dominate the market during the forecast period while emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.
The Note Sorter Market is estimated to grow at a CAGR of 7.9% from 2020 to 2027.
The Note Sorter Market is projected to reach $9.53 billion by 2027.
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Factors such as rise in demand among the developing nations to hassle-free handling of notes and increase in adoption of note sorter machine in commercial banks and retail industry drives the growth of the Note Sorter market
The key players profiled in the report include Bcash, Electronics Co., Cummins-Allison Corp., De La Rue plc, Giesecke & Devrient GmbH, Glory Global Solutions (International) Limited, GRGBanking, Julong Europe GmbH, Kisan Electronics, Laurel and Toshiba Infrastructure Systems & Solutions Corporation, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Note Sorter Market is segmented on the basis of sorter type, enterprise size, end user, and region.
The key growth strategies of Note Sorter market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Small-sized note sorter holds a dominant position throughout the forecast period.
BFSI segment will grow at a highest CAGR of 7.6% during 2020 2027.
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