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Major Players in Sorting ATM Market are Bcash Electronics Co, Cummins Allison, De La Rue plc, Giesecke+Devrient GmbH, Glory Global Solutions (International) Limited, GRGBanking, Julong Europe GmbH, Kisan Electronic, Laurel Bank Machines Co.
New York, Dec. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Sorting ATM Market Report 2022: Impact of Ukraine-Russia War” – https://www.reportlinker.com/p06374672 /?utm_source = GNV
Ltd, Toshiba Infrastructure Systems and Solutions Corporation, Xinda Electronic Equipment Ltd., Guao Electronic, Aditya Systems, Eromart and Cash Processing Solutions.
The global ATM sorting market is expected to grow from USD 1.42 billion in 2021 to USD 1.51 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The war between Russia and Ukraine has disrupted the chances of a global economic recovery from the COVID-19 pandemic, at least in the short term. The war between the two countries led to economic sanctions for several countries, rising commodity prices and disruptions in the supply chain, affecting many markets around the world. The sorting ATM market is expected to grow to USD 1.78 billion in 2026 at a CAGR of 4.1%.
The sorting ATM market consists of sales of counting machines. Values in this market are ‘factory gate’ values, ie the value of goods sold by manufacturers or creators of goods, either to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes the associated services sold by the creators of the goods.
A cash sorting machine refers to a machine used to sort banknotes and group different denominations of currency together. In addition, he counts the cash and divides it into several groups according to predetermined amounts.
Asia Pacific was the largest region in the ATM Sorting Machines market in 2021. The regions covered in the Sorting Machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Market value is defined as the income earned by businesses from goods and/or services sold in a specific market and geographic area through sales, grants, or donations in currency (in USD ($) unless otherwise specified).
Revenues for a specific geography are consumption values - that is, they are revenues generated by organizations in a specified geographic location within a specified market, regardless of where they are generated. It does not include revenues from resale either further along the supply chain or as part of other products.
The main types of banknote sorting machines are the banknote sorter and the coin sorter.
Banknote sorting is used by businesses that handle significant amounts of cash, including banks, casinos, large theme parks, and transportation services. The various businesses involved are large enterprises and SMEs using banks, supermarkets, hospitals and other applications.
The increasing number of grocery stores and supermarkets is expected to fuel the growth of the ATM sorting machine market in the future. Supermarkets and grocery stores refer to large stores that sell a variety of groceries and other household items.
Grocery stores and supermarkets work with small as well as huge amounts of money and require sorting ATMs to count the bills, provide accurate information and collate them accordingly. For example, in September 2022, according to a report released by Reliance Retail, an Indian retail company, the number of its stores in India increased from 11,784 to 15,196 from 2019 to 2022, and they opened 7 new stores every day.
Moreover, as of December 2021, according to Walmart Inc., the US-based retail corporation operated more than 10,500 stores in 24 countries and added more than 500,000 new associates worldwide in 2020. Therefore, an increasing number of grocery stores and supermarkets driving the growth of the ATM sorting market in the future.
Technological advancements have emerged as a key trend gaining traction in the ATM sorting machine market. Major companies operating in the money sorting machine market are focused on developing technologically advanced products to maintain their position in the market.
For example, in August 2019, ICICI Bank Limited, a multinational bank and financial services company based in India, launched “”robot arms”” with industrial robotic arm technology to sort notes in its trunks. In accordance with the Reserve Bank of India’s “Clean Banknote Policy”, ICICI has managed the banknote in which the cash collected from the branches is organized.
The raw currency is simultaneously fed into three sophisticated banknote sorting machines by each robotic arm. In addition, she retrieves processed currency from exit bags, aligns loose notes, binds packages, and places items in appropriate bins.
The robotic arms use a variety of sensors to quickly check over 70 features.
In May 2019, GLORI, a Japanese manufacturer of cash handling machines and systems, acquired Grupo Sortek for an undisclosed amount. With this acquisition, GLORI aims to increase the volume of its direct sales and services in Mexico.
Grupo Sortek is an ATM manufacturer based in Mexico.
Countries covered in the ATM Sorter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The Sorting ATM market research report is one of a series of new reports that provides statistics on the Sorting ATM market, including global market size of the Sorting ATM industry, regional shares, competitors with Sorting ATM market share, detailed segments of the Sorting ATM market, market trends and opportunities, as well as any additional data you may need to progress in the Money Sorting Machine industry. This Sorting ATM Market research report provides a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06374672/?utm_source=GNV
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