Sorting Cash Machine Market is expected to reach US$ 1,988.26 million by 2028

Increasing Penetration of Supermarkets in Developing Countries to Provide Growth Opportunities for Sorting Cash Machine Market During 2021–2028

According to our latest market study on "Sorting Cash Machine Market Forecast to 2028 – Global Analysis – by Type, Application, and Geography," the market is expected to grow from US$ 1,539.16 million in 2021 to reach US$ 1,988.26 million by 2028; it is anticipated to grow at a CAGR of 3.7% from 2021 to 2028.

The supermarket revolution in Asia has been fueled by the same factors that have boosted the revolution in other regions – rising incomes and urbanization on the demand side, foreign direct investment (FDI), format diversification to meet consumer segment needs, competitive domestic investments, and procurement system modernization to reduce costs on the supply side. However, in this region, a few things have been different. The trends have been more intense and faster in developing countries, such as China, India, and Vietnam. In Asia's developing countries, the state is also actively involved in economic development. The state investment in contemporary retail offered a substantial initial boost to the revolution in China and Vietnam and a lesser extent, in India. Although supermarkets in other regions gradually shifted from their primary urban base to rural markets. From their early provision of mainly processed foods and basics to fresh produce, these transformations have been hastened in Asia, particularly in developing countries. Whether private or public, modern retail has adapted to formats to penetrate rural areas, often integrating with agricultural services (such as in India).

Compared to the US and South America, Asian supermarkets have begun to infiltrate new produce marketplaces, possibly due to the importance of fresh produce among Asian consumers. Developing economies in Asia Pacific, Latin America, and the Caribbean (LAMEA) have a significant potential for retail expansion, which is likely to fuel the market throughout the projection period. According to the India Brand Equity Foundation, India's retail market is predicted to reach US$ 1.6 trillion by 2026. Furthermore, the financial sector is expanding rapidly. Market participants are expected to benefit from the widespread use of cash sorting machines in supermarkets over the next few years. Additionally, some banks provide generous cash exchange policies to customers and non-customers, creating attractive prospects for sorting cash machine market players.

The sorting cash machine market is analyzed based on type and application. Based on type, the market is bifurcated into banknote sorter and coin sorter. Based on application, the market is segmented into banks, supermarkets, and others. Geographically, the sorting cash machine market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

  Sorting Cash Machine Market — by Geography, 2020

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Sorting Cash Machine Market Size & Global Analysis by 2028

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Sorting Cash Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Banknote Sorter and Coins Sorter) and Application (Bank, Supermarkets, and Others)

Giesecke & Devrient, De La Rue, Julong, Toshiba, Glory Global Solutions, GRGBanking, Laurel, Cummins-Allison, Bcash Electronics, and Kisan are among the major players operating in the market. In addition to these players, several other prominent companies, such as sinic electronics and Adity systems, are among the key players profiled during the study of the sorting cash machine market. Further, several other important market players were studied and analyzed during the course of the sorting cash machine market research study to get a holistic view of the global sorting cash machine market and its ecosystem.

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