Report : Middle East and Africa Sorting Cash Machine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Banknote Sorter and Coins Sorter) and Application (Bank, Supermarket, and Others)
Banknote sorter Segment to Dominate MEA sorting cash machine Market During 2021–2028
According to a new market research study on “MEA sorting cash machine Market to 2028 – COVID-19 Impact Analysis and Forecast by Type, Application, and Country” is expected to reach US$ 147.40 million by 2028 from US$ 111.10 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the MEA sorting cash machine market along with the drivers and restraints pertaining to the market growth. Expanding demand from different end-use industries and numerous benefits offered by cash sorting machines are the major factor driving the growth of the MEA sorting cash machine market. However, piercing of digital transaction solutions hinders the growth of MEA sorting cash machine market.
The MEA sorting cash machine market is segmented based on type, application, and country. Based on type, the MEA sorting cash machine market is segmented into banknote sorter and coins sorter. The banknote sorter segment dominated the MEA sorting cash machine market in 2020. Based on application, the MEA sorting cash machine market is segmented into bank, supermarket, and others. The bank segment dominated the MEA sorting cash machine market in 2020. Based on country, the MEA sorting cash machine market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. The South Africa segment dominated the MEA sorting cash machine market in 2020.
De La Rue PLC; Giesecke Devrient GmbH; GLORY GLOBAL SOLUTIONS (INTERNATIONAL) LIMITED; GRG Banking; Toshiba Infrastructure Systems and Solutions Corporation; Kisan Electronics Co Ltd; and Laurel Bank Machines Co Ltd. are among the leading companies in the MEA sorting cash machine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Toshiba Executes Strategic Alliance Agreement and Invests in Counter-Drone Security Company Fortem Technologies, Inc.
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