Note Sorter Market Report 2026

The note sorter market size has grown strongly in recent years. It will grow from $6.84 billion in 2025 to $7.34 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growth in cash-based transactions, expansion of banking branch networks, need for efficient cash management, rising retail cash volumes, adoption of mechanized cash processing.

The note sorter market size is expected to see strong growth in the next few years. It will grow to $9.7 billion in 2030 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued use of cash in emerging economies, demand for secure cash handling, automation in banking operations, growth of organized retail, increasing focus on operational efficiency. Major trends in the forecast period include rising adoption of automated cash handling systems, growing demand for high-speed note sorting, increased focus on counterfeit detection accuracy, expansion of compact and desktop note sorters, integration of sorting and bundling functions.

The growing expansion of commercial banks is projected to drive the note sorter market in the future. A commercial bank is a financial institution that provides customers with services such as loans, savings accounts, and overdrafts, earning revenue primarily by charging interest on loans. Note sorters play a crucial role in commercial banks by verifying the authenticity and condition of banknotes, as well as managing cash effectively. They assist in identifying and sorting out suspected counterfeit notes. For example, in July 2024, the Press Information Bureau, an India-based nodal agency, reported that Scheduled Commercial Banks (SCBs) in India experienced significant growth in 2023 compared to 2022, with total deposits rising to ₹204.75 lakh crore ($2,457 million), up from ₹180.44 lakh crore ($2,148 million) the previous year, reflecting a 13.4% increase. Consequently, the growth of commercial banks is driving the demand for note sorters.

Major companies operating in the note sorter market are increasingly establishing strategic partnerships to integrate advanced cash-handling hardware with automated reconciliation platforms, thereby enhancing accuracy, optimizing cash workflows, and improving financial visibility across retail and hospitality sectors. For example, in August 2024, PayComplete, a US-based provider of CashTech hardware and cash automation solutions, partnered with Evention, a US-based developer of automated payment reconciliation software, to deliver a unified solution that links operational cash-handling devices - such as note-sorting and cash-management systems - with enterprise-grade reconciliation platforms. This collaboration is designed to eliminate last-mile data gaps in cash and credit card reconciliation, enabling businesses to reduce errors, improve operational efficiency, and strengthen financial oversight.

In January 2024, Hitachi Payment Services, an India-based payment solutions provider, announced the acquisition of Writer Corporation’s cash management business for an undisclosed sum. Through this acquisition, Hitachi Payment Services aims to enhance its cash-management operations across India, particularly its ATM cash replenishment and retail cash logistics services. Writer Corporation is an India-based diversified enterprise offering cash management and related logistical solutions.

Major companies operating in the note sorter market are Bcash Electronics Co. Ltd., Crane Payment Innovations Inc., De La Rue Plc, Giesecke & Devrient GmbH, Glory Global Solutions Limited, GRG Banking Equipment Co. Ltd., Julong Europe GmbH, Kisan Electronics Co. Ltd., Laurel Bank Machines Co. Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Maxsell Co., Knight Sun Impex Private Limited, Zhejiang Weirong Electronic Co. Ltd., Hitachi Ltd., CBPM & Xinda Banking Equipment Co. Ltd., Cassida Corporation, SuzoHapp Group, CIMA S.p.A., Billcon Corporation, Currency Tech GmbH, Anhui Lema International Co. Ltd., Suzhou Procoin Money Handling Systems Co. Ltd., Uchida Yoko Co. Ltd., Innovative Technology Ltd.

North America was the largest region in the note sorter market in 2025. The regions covered in the note sorter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the note sorter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The note sorter market consists of sales of note sorter 2+1 and note sorter 3+1. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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