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 throughout the market from one industry to another is one prominent market driver, which is 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 these machines' efficiency in various accounting activities, the sorting cash machine market is steadily growing.
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 SAM sorting cash machine market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
SAM sorting cash machine market segmentation
The SAM sorting cash machine market is segmented based on type, application, and country. Based on type, the SAM sorting cash machine market is segmented into banknote sorter and coins sorter. The banknote sorter segment dominated the SAM sorting cash machine market in 2020. Based on application, the SAM sorting cash machine market is segmented into bank, supermarket, and others. The bank segment dominated the SAM sorting cash machine market in 2020. Based on country, the SAM sorting cash machine market is segmented into Brazil, Argentina, and the rest of SAM. The Brazil 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 SAM sorting cash machine market.