Global Portable Cash Counting Machine Market 2018-2022
About Portable Cash Counting Machine
Currency is an accepted form of money used in exchange of goods and services. Currency is of two types namely, banknotes and coins. It is issued by the governments of countries and are legally accepted. A portable cash counting machine is used for either counting or sorting of banknotes or detection of counterfeit currency or all the three. It is also called an automatic counting machine, money counting machine, money counters, cash counters and bill counters.
Technavio’s analysts forecast the global portable cash counting machine market to grow at a CAGR of 4.11% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global portable cash counting machine market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of portable cash counting machine.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Portable Cash Counting Machine Market 2018-2022
Technavio recognizes the following companies as the key players in the global portable cash counting machine market: Cummins-Allison, Glory Global Solutions, Giesecke+Devrient, Godrej.com, and Royal Sovereign.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising adoption of low-weight-based portable cash counting machines. To streamline their cash management process, several enterprises are adopting the weight-based counting machines. Also, vendors are incorporating light-emitting diode (LED) displays and features to check the authenticity of currency. Vendors are differentiating their product offerings based on speed, weight, and ability to detect counterfeit currency.”
According to the report, one of the major drivers for this market is increased availability of fake currency. Portable cash counting machines detect counterfeit currency while counting notes. Counterfeit currency is becoming rampant and easily available globally. This machine emits an alarm on detecting any torn, fake, or unusable currency note. The rising influx of fake currency is impacting the profit earning of commercial establishments as manual detection of fake notes is difficult. Several manufacturers are offering features such as counterfeit detection and loose notes counting, to drive the addition of these machines in this cash counting machine market.
Cummins-Allison, Glory Global Solutions, Giesecke+Devrient, Godrej.com, and Royal Sovereign.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook