The cash handling device market was valued at $11.3 billion in 2023, and is projected to reach $18.4 billion by 2032, growing at a CAGR of 5.5% from 2024 to 2032.
A cash handling device refers to any machine or tool designed to process, count, verify, or manage physical currency, such as banknotes and coins. These devices are commonly used in retail, banking, and other industries where cash transactions are frequent. Cash handling devices streamline the process of counting money, detecting counterfeit currency, and securely storing cash, thereby reducing human error and improving operational efficiency. Examples include cash counters, coin sorters, cash recyclers, and counterfeit detectors.
The growth of the global cash handling device market is driven by rise in cash transactions. Despite the growth of digital payments, cash remains a widely used medium for transactions, especially in emerging economies, driving the demand for cash handling devices. According to a study published in 2023 by Cash Matters - a pro-cash movement - cash is used for 16% of point-of-scale payments globally. In addition, businesses, particularly in retail, banking, and hospitality, require faster and more accurate ways to manage cash, which fuels the demand for automated cash handling devices that reduce human error, improve efficiency, and cut labor costs.
Furthermore, the global shift toward automation in various sectors has boosted the adoption of advanced cash handling devices, such as cash recyclers, to streamline cash management processes. The continuous expansion of the retail industry, coupled with banking operations in developing countries, significantly fuels the demand for cash handling solutions.
However, increase in global adoption of digital payment methods, such as mobile payments, contactless cards, and online transactions, is reducing the reliance on physical cash. A 2022 report by the Reserve Bank of India found that digital payments grew by 33% year-on-year, with mobile payments rising sharply. This shift could limit the need for cash handling devices in certain economies.
In addition, high cost of cash handling devices, such as cash recyclers and advanced counterfeit detectors, acts as the key deterrent factor of the global market. On the contrary, innovations in cash handling technologies, including integration with digital platforms, IoT, and data analytics, are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The global cash handling device market outlook is segmented into type, application, and region. On the basis of type, the market is divided into banknote sorter, coin sorter, and automatic teller machine (ATM). Depending on application, it is categorized into banks, retail, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
On the basis of application, the banks segment in the cash handling device market is anticipated to experience rapid growth by 2032.
Region wise, North America led the market in 2023; however, Asia-Pacific is projected to emerge as the most lucrative market for cash handling device during the forecast period.
A cash handling device refers to any machine or tool designed to process, count, verify, or manage physical currency, such as banknotes and coins. These devices are commonly used in retail, banking, and other industries where cash transactions are frequent. Cash handling devices streamline the process of counting money, detecting counterfeit currency, and securely storing cash, thereby reducing human error and improving operational efficiency. Examples include cash counters, coin sorters, cash recyclers, and counterfeit detectors.
The growth of the global cash handling device market is driven by rise in cash transactions. Despite the growth of digital payments, cash remains a widely used medium for transactions, especially in emerging economies, driving the demand for cash handling devices. According to a study published in 2023 by Cash Matters - a pro-cash movement - cash is used for 16% of point-of-scale payments globally. In addition, businesses, particularly in retail, banking, and hospitality, require faster and more accurate ways to manage cash, which fuels the demand for automated cash handling devices that reduce human error, improve efficiency, and cut labor costs.
Furthermore, the global shift toward automation in various sectors has boosted the adoption of advanced cash handling devices, such as cash recyclers, to streamline cash management processes. The continuous expansion of the retail industry, coupled with banking operations in developing countries, significantly fuels the demand for cash handling solutions.
However, increase in global adoption of digital payment methods, such as mobile payments, contactless cards, and online transactions, is reducing the reliance on physical cash. A 2022 report by the Reserve Bank of India found that digital payments grew by 33% year-on-year, with mobile payments rising sharply. This shift could limit the need for cash handling devices in certain economies.
In addition, high cost of cash handling devices, such as cash recyclers and advanced counterfeit detectors, acts as the key deterrent factor of the global market. On the contrary, innovations in cash handling technologies, including integration with digital platforms, IoT, and data analytics, are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The global cash handling device market outlook is segmented into type, application, and region. On the basis of type, the market is divided into banknote sorter, coin sorter, and automatic teller machine (ATM). Depending on application, it is categorized into banks, retail, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key Findings
Depending on type, the automatic teller machine (ATM) segment is expected to dominate the market from 2024 to 2032.On the basis of application, the banks segment in the cash handling device market is anticipated to experience rapid growth by 2032.
Region wise, North America led the market in 2023; however, Asia-Pacific is projected to emerge as the most lucrative market for cash handling device during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major players in the global cash handling device market include Diebold Nixdorf, Incorporated, NCR Corporation, Triton Systems of Delaware, LLC, GRG Banking, Hitachi Channel Solutions, Corp., HESS Cash Systems, TetraLink, Fujitsu Frontech Limited, Edge One, Volumatic, CashTech Currency Products, SOUTH Automation Int., and CIMA Cash Handling America Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.Additional benefits you will get with this purchase are:
- Quarterly Update* (with the purchase of an enterprise license)
- 5 additional Company Profiles, pre- or post-purchase, as a free update.
- Free Updated Version (once released) with the purchase of an enterprise user license.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- End user preferences and pain points
- Industry life cycle assessment, by region
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Scenario Analysis & Growth Trend Comparison
- Technology Trend Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Pain Point Analysis
- Regulatory Guidelines
- Strategic Recommendations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Type
- Banknote Sorter
- Coin Sorter
- Automatic Teller Machine (ATM)
By Application
- Banks
- Retail
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Mexico
- Rest of LAMEA
Key Market Players
- Diebold Nixdorf, Incorporated
- NCR Corporation
- Triton Systems of Delaware, LLC
- GRG Banking
- Hitachi Channel Solutions, Corp.
- HESS Cash Systems
- TetraLink
- Fujitsu Frontech Limited
- Edge One
- Volumatic
- CashTech Currency Products
- SOUTH Automation Int.
- CIMA Cash Handling America Inc.
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: CASH HANDLING DEVICE MARKET, BY TYPE
CHAPTER 5: CASH HANDLING DEVICE MARKET, BY APPLICATION
CHAPTER 6: CASH HANDLING DEVICE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Diebold Nixdorf, Incorporated
- NCR Corporation
- Triton Systems of Delaware, LLC
- GRG Banking
- Hitachi Channel Solutions, Corp.
- HESS Cash Systems
- TetraLink
- Fujitsu Frontech Limited
- Edge One
- Volumatic
- CashTech Currency Products
- SOUTH Automation Int.
- CIMA Cash Handling America Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 354 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 11.3 billion |
| Forecasted Market Value ( USD | $ 18.4 billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
