Coin Sorter Market Report 2024

The coin sorter market size has grown strongly in recent years. It will grow from $3.9 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period can be attributed to factors such as rising urbanization, the expansion of the banking sector, a growing demand for automation, an increased volume of cash in casinos, and a higher number of self-service machines.

The coin sorter market size is expected to see strong growth in the next few years. It will grow to $5.73 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The anticipated growth during the forecast period can be attributed to factors such as the expansion of e-commerce, heightened awareness of cash management, government support for cash transactions, an increased emphasis on accuracy, and rising cash transactions in developing countries. Key trends expected to drive this growth include the integration of artificial intelligence, advancements in sensor technology, real-time data analytics, Internet of Things (IoT) connectivity, and the development of user-friendly interfaces.

The growth of the coin sorter market is anticipated to be driven by the increasing use of cash transactions. A cash transaction involves making payments with physical currency, such as coins and banknotes. The rise in cash transactions is due to a higher consumer demand for physical currency in markets where digital payment methods are less accessible or trusted. Coin sorters facilitate these transactions by efficiently sorting and counting coins, which reduces manual handling time and minimizes errors. For example, in September 2023, UK Finance reported that cash payments in the UK increased to 6.4 billion in 2022, up from 6 billion in 2021. This rise in cash transactions is fueling the growth of the coin sorter market.

The growth of banking services is also expected to boost the coin sorter market. Banking services encompass financial products and operations provided by banks, such as deposit accounts, loans, and investment services. The increased demand for these services is driven by factors such as greater financial inclusion, the adoption of digital banking, and rising economic activities. Coin sorters support banking operations by efficiently organizing and counting large volumes of coins, streamlining cash-handling processes, and reducing manual labor. For instance, in January 2024, Federal Reserve Economic Data reported that commercial banking revenue rose to $566.9 billion in 2022, up from $512.1 billion in 2021, indicating significant sector growth. This increasing demand for banking services is propelling the growth of the coin sorter market.

Companies in the coin sorter market are focusing on developing advanced products, such as sensor-integrated coin sorters, to improve sorting accuracy and efficiency. These devices are equipped with sensors that detect various attributes of coins, such as size, weight, and metal composition. For instance, in February 2023, REDWAVE Inc., an Austria-based manufacturer of sensor-based sorting machines, introduced the EDWAVE CX coin sorter. This advanced system uses sensors to enhance the accuracy and efficiency of metal sorting processes. Designed for industrial use, the EDWAVE CX offers high precision and a robust build to handle demanding operational environments.

Major companies operating in the coin sorter market are Giesecke+Devrient GmbH, Glory Global Solutions Limited, Crane Payment Innovations, Royal Sovereign Inc., De La Rue Plc, Cummins Allison, Laurel Group, Guangdong Baijia Baiter Co. Ltd., Julong Co. Ltd., Safescan BV, Namibind Inc., Arihant Maxsell Technologies Pvt Ltd, CT Coin Inc., GRG Banking, KLOPP Coin Inc., Nadex Coins, Semacon Business Machines Inc., Smars Inc., Suzhou Ribao Technology Co Ltd., SUZOHAPP Inc., Teachers Choice, Bkash Inc.

North America was the largest region in the coin sorter market in 2023. The regions covered in the coin sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the coin sorter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A coin sorter is a machine designed to automatically sort mixed coins into separate bins based on their denominations. It uses various mechanisms to identify and categorize coins, making the process of handling and organizing large quantities of coins more efficient. Coin sorters are commonly used in banks, retail businesses, and other settings where cash handling is frequent.

The main components of a coin sorter are large size coin sorters, medium size coin sorters, and small size coin sorters. Large size coin sorters refer to machines designed to efficiently sort and count high volumes of coins in commercial or industrial settings. They come with various types of displays, such as light-emitting diode (LED) displays and liquid crystal display (LCD) displays, and have different capacities, including coin bin capacity and hopper capacity. These machines are applied in banks, retail, and others.

The coin sorter market research report is one of a series of new reports that provides coin sorter market statistics, including coin sorter industry global market size, regional shares, competitors with a coin sorter market share, detailed coin sorter market segments, market trends and opportunities, and any further data you may need to thrive in the coin sorter industry. This coin sorter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The coin sorter market consists of sales of manual coin sorters, electric coin sorters, coin counting and sorting machines, portable coin sorters, and heavy-duty coin sorting systems. Values in this market are ‘factory gate’ values, 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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