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Currency Counting Machine Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 122
  • SKU: IRTNTR41365
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The currency counting machine market share is expected to increase by USD 62.11 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.12%.

This currency counting machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the currency counting machine market segmentations by end user (BFSI sector, retail sector, and commercial sector) and geography (APAC, Europe, North America, and South America). The currency counting machine market report also offers information on several market vendors, including Arihant Maxsell Technologies Pvt. Ltd., Billcon Corp., Crane Co., Giesecke + Devrient GmbH, GLORY Ltd., GRGBanking, Guangdong Baijia Baiter Co. Ltd., Julong Co. Ltd., Kisan Electronics Co. Ltd., and Laurel Bank Machines Co. Ltd. among others.

What will the Currency Counting Machine Market Size be During the Forecast Period?

Currency Counting Machine Market Size

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Currency Counting Machine Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in counterfeit currency is notably driving the currency counting machine market growth, although factors such as increased number of card transactions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the currency counting machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Currency Counting Machine Market Driver

The increase in counterfeit currency is one of the key factors driving the growth of the global currency counting machine market. The counterfeiting of currency is one of the oldest crimes in history. When the first coins were minted, their value was based on the intrinsic value of the metal. Forgers would scrape off small amounts of the metal from original coins and use it to make fake coins with inexpensive base metals. The fake currency market has become a big black market and is one of the biggest problems for governments. Counterfeit money poses a major threat to national security and can result in economic destabilization. Fake currency is worthless and is difficult to identify with the naked eye. Currency counting machines can detect fake currency, thus limiting the threat of fake currency. A currency counting machine uses several counterfeit detection technologies, including magnetic, ultraviolet, infrared, watermark, and microprint. These machines detect whether the currency has these security features or not. With the increase in money counterfeiting, the need for currency counting machines will rise.

Key Currency Counting Machine Market Trend

The growing need for weight-based currency counting machines will fuel the global currency counting machine market growth. The switch to polymer-based banknotes will lead to fewer rejections by cash processing machines and lower destruction rates, resulting in better ROI. In addition, the security features are enhanced in polymer-based banknotes to detect counterfeits. Polymer-based banknotes are made of a plastic core on which layers of ink and enhanced security features are applied. Polymer-based banknotes are technologically advanced and durable. Therefore, they are useful in enterprises that deal with large amounts of cash. This will create a demand for weight-based cash counters, which are efficient in counting polymer-based banknotes. A weight-based cash counter picks bills or coins in batches. The machine compares this against a stored weight for each coin or bill and divides the total weight on the machine by this stored weight. This calculates the amount of cash on the platform at any given time. The machine calculates the amount of cash within seconds and is highly efficient.

Key Currency Counting Machine Market Challenge

The increased number of card transactions is a major challenge for global currency counting machine market growth. There has been a significant increase in the use of debit and credit cards for payments. The rise in the number of cashless payment transactions by consumers poses a threat to currency counting machines. Consumers who shop at retail or hospitality business stores use their debit or credit cards for making convenient payments. This encourages banks and merchants to invest in the cashless technology and market. In 2019, approximately more than half of all payment transactions globally were done using cards. Moreover, the growth of the retail e-commerce industry fueled the increase in online payments. The increase in the number of card transactions is expected to hinder the growth of the global currency counting machine market during the forecast period.

This currency counting machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global currency counting machine market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the currency counting machine market during the forecast period.

Who are the Major Currency Counting Machine Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Arihant Maxsell Technologies Pvt. Ltd.
  • Billcon Corp.
  • Crane Co.
  • Giesecke + Devrient GmbH
  • GLORY Ltd.
  • GRGBanking
  • Guangdong Baijia Baiter Co. Ltd.
  • Julong Co. Ltd.
  • Kisan Electronics Co. Ltd.
  • Laurel Bank Machines Co. Ltd.

 

This statistical study of the currency counting machine market encompasses successful business strategies deployed by the key vendors. The currency counting machine market is fragmented and the vendors are deploying growth strategies such as low product switching costs for buyers to compete in the market.

Product Insights and News

  • Arihant Maxsell Technologies Pvt. Ltd. - This features heavy-duty counter technology for 12 hours of continuous operation and an in-built automatic UV detector.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The currency counting machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Currency Counting Machine Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the currency counting machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global technology hardware, storage, and peripherals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for the Currency Counting Machine Market?

Currency Counting Machine Market Market segmentation by region

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44% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for currency counting machines market in APAC. Market growth in this region will be slower than the growth of the market in regions.

The increase in the counterfeit currency will facilitate the currency counting machine market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the growth of the currency counting machine market in APAC in 2020. The demand for currency counting machines declined to owe to the restrictions and lockdowns imposed by the government of most countries in the region, which lead to temporary closure of retail chains, casinos, and many commercial businesses. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to increase the demand for construction toys, which, in turn, will drive the market during the forecast period

What are the Revenue-generating End User Segments in the Currency Counting Machine Market?

Currency Counting Machine Market Segmentation

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The currency counting machine market share growth by the retail segment will be significant during the forecast period. The pace of growth of the retail industry in a country can be determined by assessing the GDP of the country. The performance of the retail industry can also be analyzed through the trends in consumer spending, standards of living, and disposable income. The emerging areas in the retail industry include fashion and apparel, food and beverage, pharmaceutical, and e-commerce retailing.

This report provides an accurate prediction of the contribution of all the segments to the growth of the currency counting machine market size and actionable market insights on post-COVID-19 impact on each segment.

 

Currency Counting Machine Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.12%

Market growth 2021-2025

$ 62.11 million

Market structure

Fragmented

YoY growth (%)

3.62

Regional analysis

APAC, Europe, North America, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Germany, India, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Arihant Maxsell Technologies Pvt. Ltd., Billcon Corp., Crane Co., Giesecke + Devrient GmbH, GLORY Ltd., GRGBanking, Guangdong Baijia Baiter Co. Ltd., Julong Co. Ltd., Kisan Electronics Co. Ltd., and Laurel Bank Machines Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Currency Counting Machine Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive currency counting machine market growth during the next five years
  • Precise estimation of the currency counting machine market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the currency counting machine industry across APAC, Europe, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of currency counting machine market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Electronic Equipment and Instruments Market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 BFSI - Market size and forecast 2020-2025
      • Exhibit 17: BFSI - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: BFSI - Year-over-year growth 2020-2025 (%)
    • 5.4 Retail - Market size and forecast 2020-2025
      • Exhibit 19: Retail - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Retail - Year-over-year growth 2020-2025 (%)
    • 5.5 Commercial - Market size and forecast 2020-2025
      • Exhibit 21: Commercial - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Commercial - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 23: Market opportunity by End-user

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • 9.2 Vendor landscape
            • Exhibit 40: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 41: Landscape disruption
            • Exhibit 42: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 43: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 44: Market positioning of vendors
          • 10.3 Arihant Maxsell Technologies Pvt. Ltd.
            • Exhibit 45: Arihant Maxsell Technologies Pvt. Ltd. - Overview
            • Exhibit 46: Arihant Maxsell Technologies Pvt. Ltd. - Product and service
            • Exhibit 47: Arihant Maxsell Technologies Pvt. Ltd. - Key offerings
          • 10.4 Billcon Corp.
            • 10.5 Cummins-Allison Corp.
              • Exhibit 51: Cummins-Allison Corp. - Overview
              • Exhibit 52: Cummins-Allison Corp. - Product and service
              • Exhibit 53: Cummins-Allison Corp. - Key offerings
            • 10.6 Giesecke + Devrient GmbH
              • Exhibit 54: Giesecke + Devrient GmbH - Overview
              • Exhibit 55: Giesecke + Devrient GmbH - Business segments
              • Exhibit 56: Giesecke + Devrient GmbH - Key news
              • Exhibit 57: Giesecke + Devrient GmbH - Key offerings
              • Exhibit 58: Giesecke + Devrient GmbH - Segment focus
            • 10.7 GLORY Ltd.
              • Exhibit 59: GLORY Ltd. - Overview
              • Exhibit 60: GLORY Ltd. - Business segments
              • Exhibit 61: GLORY Ltd. - Key news
              • Exhibit 62: GLORY Ltd. - Key offerings
              • Exhibit 63: GLORY Ltd. - Segment focus
            • 10.8 GRGBanking
              • Exhibit 64: GRGBanking - Overview
              • Exhibit 65: GRGBanking - Product and service
              • Exhibit 66: GRGBanking - Key offerings
            • 10.9 Guangdong Baijia Baiter Co. Ltd.
              • Exhibit 67: Guangdong Baijia Baiter Co. Ltd. - Overview
              • Exhibit 68: Guangdong Baijia Baiter Co. Ltd. - Product and service
              • Exhibit 69: Guangdong Baijia Baiter Co. Ltd. - Key offerings
            • 10.10 Julong Co. Ltd.
              • Exhibit 70: Julong Co. Ltd. - Overview
              • Exhibit 71: Julong Co. Ltd. - Business segments
              • Exhibit 72: Julong Co. Ltd. - Key offerings
              • Exhibit 73: Julong Co. Ltd. - Segment focus
            • 10.11 Kisan Electronics Co. Ltd.
              • Exhibit 74: Kisan Electronics Co. Ltd. - Overview
              • Exhibit 75: Kisan Electronics Co. Ltd. - Product and service
              • Exhibit 76: Kisan Electronics Co. Ltd. - Key offerings
            • 10.12 Laurel Bank Machines Co. Ltd.
              • Exhibit 77: Laurel Bank Machines Co. Ltd. - Overview
              • Exhibit 78: Laurel Bank Machines Co. Ltd. - Product and service
              • Exhibit 79: Laurel Bank Machines Co. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 80: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 81: Research Methodology
                • Exhibit 82: Validation techniques employed for market sizing
                • Exhibit 83: Information sources
              • 11.4 List of abbreviations
                • Exhibit 84: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Currency Counting Machine market growth will increase by $62.11 million during 2020-2024.
              The currency counting machine market is expected to grow at a CAGR of 4.12% during 2020-2024.
              Technavio has segmented the currency counting machine market by end user (BFSI sector, Retail sector, and Commercial sector) ,other 1 (BFSI sector, Retail sector, and Commercial sector) , and geographic (APAC, Europe, North America, South America, and South America).
              Arihant Maxsell Technologies Pvt. Ltd., Billcon Corp., Crane Co., Giesecke + Devrient GmbH, GLORY Ltd., GRGBanking, Guangdong Baijia Baiter Co. Ltd., Julong Co. Ltd., Kisan Electronics Co. Ltd., Laurel Bank Machines Co. Ltd. are a few of the key vendors in the currency counting machine market.
              APAC will register the highest growth rate of 44.12% among the other regions. Therefore, the currency counting machine market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the currency counting machine market growth are:
              • Increase in counterfeit currency
              • Growing need for weight-based currency counting machines
              The currency counting machine market vendors should focus on grabbing business opportunities from the bfsi sector segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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