One of the critical growth imperatives for a country's economy is digital payment. It has the potential to raise productivity and economic growth, improve transparency, increase tax revenue, broaden financial inclusion, and provide end-users with new economic options. Many countries in APAC are taking various steps and using ICT technologies to promote digital payment processes. For instance, the Government of India has initiated several initiatives to promote digital payments. Digital India, the Unified Payments Interface (UPI), and the 14444-helpline number are all driving forces behind the migration of the population to digital payments. These activities are aiding in promoting digitization and raising awareness about the benefits of new technologies.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC sorting cash machine market in the coming years. The APAC sorting cash machine market is expected to grow at a good CAGR during the forecast period.
The APAC sorting cash machine market is segmented based on type, application, and country. Based on type, the APAC sorting cash machine market is segmented into banknote sorter and coins sorter. The banknote sorter segment dominated the APAC sorting cash machine market in 2020. Based on application, the APAC sorting cash machine market is segmented into bank, supermarket, and others. The bank segment dominated the APAC sorting cash machine market in 2020. Based on country, the APAC sorting cash machine market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. The China segment dominated the APAC sorting cash machine market in 2020.
CUMMINS ALLISON; BCASH, ELECTRONICS CO; 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 APAC sorting cash machine market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 392.67 Million |
| Market Size by 2028 | US$ 547.38 Million |
| CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Sorting Cash Machine Market is valued at US$ 392.67 Million in 2021, it is projected to reach US$ 547.38 Million by 2028.
As per our report Asia Pacific Sorting Cash Machine Market, the market size is valued at US$ 392.67 Million in 2021, projecting it to reach US$ 547.38 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The Asia Pacific Sorting Cash Machine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Sorting Cash Machine Market report:
The Asia Pacific Sorting Cash Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Sorting Cash Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Sorting Cash Machine Market value chain can benefit from the information contained in a comprehensive market report.
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