The MEA sorting cash machine market is expected to grow from US$ 111.10 million in 2021 to US$ 147.40 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028.
The cash sorting machines market in the MEA is driven by several advances in cash sorting machines, such as weight-based cash sorting, which allows for better use. Modern machines place a premium on efficiency, which saves time and improves a company's operating efficiency. Cash sorting machines with the appropriate security measures to prevent cash counterfeiting are being developed by market participants using next-generation technologies. Manufacturers are attempting to consolidate a better position in the market by providing these machines with dependability algorithms and cash detection systems. While security, accuracy, and efficiency remain the most critical aspects of cash sorting machines, manufacturers increasingly include configurable touchscreen displays, machine graphics, and hands-free cash handling. Manufacturers and distributors are applying sophisticated technologies to incorporate unique and top-notch security features in cash sorting machines to gain a competitive edge. The MEA sorting cash machine market is predicted to grow at a moderate rate during the forecast period, owing to various market factors, including lower cash usage and advanced security features.
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 MEA sorting cash machine market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
MEA Sorting Cash Machine Market Revenue and Forecast to 2028 (US$ Million)
MEA Sorting Cash Machine Market Segmentation
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, the UAE, and the rest of the MEA. South Africa dominated the 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.
Middle East and Africa Sorting Cash Machine Market Strategic Insights
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Middle East and Africa Sorting Cash Machine Market Segmentation Analysis
Middle East and Africa Sorting Cash Machine Market Report Highlights
Middle East and Africa Sorting Cash Machine Report Scope
Report Attribute
Details
Market size in 2021
US$ 111.10 Million
Market Size by 2028
US$ 147.40 Million
CAGR (2021 - 2028)
4.1%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Type
Banknote Sorter and Coins Sorter
By Application
Bank
Supermarket
Regions and Countries Covered
Middle East and Africa
South Africa, Saudi Arabia, UAE, Rest of Middle East and Africa
Market leaders and key company profiles
De La Rue PLC
Giesecke Devrient GmbH
GLORY GLOBAL SOLUTIONS (INTERNATIONAL) LIMITED
GRG Banking
Toshiba Infrastructure Systems and Solutions Corporation
Kisan Electronics Co Ltd
Laurel Bank Machines Co Ltd
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Middle East and Africa Sorting Cash Machine Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
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Frequently Asked Questions
How big is the Middle East and Africa Sorting Cash Machine Market?
The Middle East and Africa Sorting Cash Machine Market is valued at US$ 111.10 Million in 2021, it is projected to reach US$ 147.40 Million by 2028.
What is the CAGR for Middle East and Africa Sorting Cash Machine Market by (2021 - 2028)?
As per our report Middle East and Africa Sorting Cash Machine Market, the market size is valued at US$ 111.10 Million in 2021, projecting it to reach US$ 147.40 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
What segments are covered in this report?
The Middle East and Africa Sorting Cash Machine Market report typically cover these key segments-
Type (Banknote Sorter and Coins Sorter)
Application (Bank, Supermarket)
What is the historic period, base year, and forecast period taken for Middle East and Africa Sorting Cash Machine Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Sorting Cash Machine Market report:
Historic Period : 2019-2020
Base Year : 2021
Forecast Period : 2022-2028
Who are the major players in Middle East and Africa Sorting Cash Machine Market?
The Middle East and Africa Sorting Cash Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
De La Rue PLC
Giesecke Devrient GmbH
GLORY GLOBAL SOLUTIONS (INTERNATIONAL) LIMITED
GRG Banking
Toshiba Infrastructure Systems and Solutions Corporation
Kisan Electronics Co Ltd
Laurel Bank Machines Co Ltd
Who should buy this report?
The Middle East and Africa Sorting Cash Machine Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Middle East and Africa Sorting Cash Machine Market value chain can benefit from the information contained in a comprehensive market report.
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