Global Coin Sorters Market Expected to Reach $8.41 Billion by 2030, According to AMR
Portland, OR, March 03, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the coin sorters market was estimated at $3.81 billion in 2020 and is projected to reach $8.41 billion by 2030, registering a CAGR of 8.6% from 2021 to 2030. The report provides an in-depth analysis of the major pockets of investment, best winning strategies, drivers and opportunities, market size and estimates, competitive scenario and varying market trends.
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Rising demand for automated cash handling products and increasing demand for technologically advanced self-service machines are driving the growth of the global coin sorter market. On the other hand, the growing penetration of smartphone apps for digital transactions is restraining the growth to some extent. However, the developing countries of Asia-Pacific and LAMEA possess great potential for expanding the retail industry, which in turn is expected to create lucrative opportunities in the industry.
- Huge disruptions in the supply chain have negatively impacted the global coin sorting machine market, especially during the initial period.
- Consumer demand also decreased significantly as the majority of business organizations were then more eager to remove non-essential expenses from their budgets.
- However, the market should recover soon.
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The global Coin Sorters market is analyzed by type and by region.
Based on type, the small-sized coin sorters segment contributed more than two-fifths of the total market revenue in 2020 and is expected to lead by 2030. The large-sized coin sorters segment, however , would present the Fastest CAGR 11.3% over the forecast period.
By region, the North American market held the largest share in 2020, attracting nearly two-fifths of the global market. Asia-Pacific, simultaneously, would show the fastest CAGR of 11.7% throughout the forecast period.
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Major market players analyzed in the Global Coin Sorters Market report are Giesecke & Devrient, Glory Global Solutions Limited, Laurel, Baija Baiter, Royal Sovereign, Cummins Allison, Suzhou Ribao Technology Co., Ltd., BCash, CT Corner and De La Rue Plc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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