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This industry research report identifies ARCA, Crane, Diebold Nixdorf, and Glory Global Solutions as the key vendors in the global POS banknote recycler market. This industry research report also presents a detailed analysis of the market by distribution channel (offline and online) and by geography (the Americas, APAC, and EMEA).
Technavio’s market study identifies the increased concern regarding risks associated with manual cash management to be one of the primary growth factors for the POS banknote recycler market. Manual cash management provides scope for external and internal theft. Banknote recyclers eliminate the risks of manual cash handling as they are equipped with lockable loader cassettes, note recycling facilities, secure cashbox, and fully linked accounting capability features. Banknote recyclers POS reduce repetitive tasks and follows each task with a complete audio trail to ensure secure transactions. Our market analysts estimate that the market will grow steadily at a CAGR of almost 8% by 2021.
Near-field technology (NFC) enables wireless communication and data transfer among two devices. NFC technology helps customers to make payments without touching the self-checkout system, ensuing in easier and faster checkouts. Integration of the NFC technology and POS banknote recycler technology reduces incidences of mismanagement at the self-checkout systems and facilitates customer transaction without using the self-checkout systems. The evolution of NFC technology is one of the key trends that will gain traction in the POS banknote recycler market during the next few years.
The POS banknote recycler market is significantly fragmented owing to the presence of several international, regional, and local vendors. Key players account for the major shares of the market by offering differentiated product portfolio and acquiring smaller players. The performance of the vendors is mainly impacted by the intense competition and rapid technological changes.
The leading vendors in the market are
The other prominent vendors in the market are Cash Phenix, CI Tech Components, Currency Tech, Innovative Technology, JCM Global, MELLON GROUP OF COMPANIES, and SUZOHAPP.
POS banknote recycler vendors cater to the self-checkout terminal through offline channels as the self-checkout terminals and POS banknote recyclers are integrated through self-checkout terminal manufacturers. Rising demand for POS banknote recyclers in retail stores, growing retail sector, and growing adoption of self-checkout terminals is contributing towards the growth of the offline distribution channel.
The Americas account for the major share of the POS banknote recycler market due to the presence of several large retailers such as Kroger, Wal-Mart, Tesco, Carrefour, and Safeway expanding their retail stores. These retailers are increasingly demanding and adopting self-checkout terminals with POS banknote recyclers, contributing to the growth of this market in the Americas.
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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.
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