Payments

Sorting cash machine market to reach $2.13B

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September 12, 2024

The cash sorting machine market will grow from $1.65 billion in 2023 to $2.13 billion by 2029, at a compound annual growth rate of 4.37%, according to research from Research and Markets. This market has seen growth due to a need for automation in cash handling in banking, according to a press release.

The market is broken down into two types: banknote sorting cash machines and coin sorting cash machines. The banknote segment has the largest market share and will see the fasted CAGR. The banknote segment is further divided into bank, supermarket and other businesses, with the bank holding the largest market share.

North American will dominate the market, but Asia-Pacific will see the fasted growth during the forecasted period.