The market is driven by the uncontrolled and non-intermittent flow of currency in banks, casinos, and other monetary organizations. The constant circulation of cash in bulk from one industry to another is one prominent driver increasing the demand for cash sorting machines. Even though the use of cash has decreased in last few years, owing to introduction of cashless payment methods, some businesses deal with money daily. Banks and supermarkets need cash sorting machines. Due to the efficiency of these machines in various accounting activities, the sorting cash machine market is growing steadily in Europe.
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 Europe sorting cash machine market in the coming years. The Europe sorting cash machine market is expected to grow at a good CAGR during the forecast period.
The Europe sorting cash machine market is segmented based on type, application, and country. Based on type, the Europe sorting cash machine market is segmented into banknote sorter and coins sorter. The banknote sorter segment dominated the Europe sorting cash machine market in 2020. Based on application, the Europe sorting cash machine market is segmented into bank, supermarket, and others. The bank segment dominated the Europe sorting cash machine market in 2020. Based on country, the Europe sorting cash machine market is segmented into France, Germany, Italy, UK, Russia, and the rest of Europe. The Germany segment dominated the Europe 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; Julong europe GMBH; and Laurel Bank Machines Co Ltd. are among the leading companies in the Europe sorting cash machine market.