Increase in demand among the developing nations to hassle-free handling of notes and rise in adoption of note sorter machine in commercial banks and retail industry fuel the global note sorter market. By region, North America contributed to the highest market share in 2019, and is expected to maintain its dominant share throughout the forecast period.

Portland,OR, June 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global note sorter market generated $6.31 billion in 2019, and is projected to garner $9.53 billion by 2027, witnessing a CAGR of 7.9% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.

Increase in demand among the developing nations to hassle-free handling of notes and rise in adoption of note sorter machine in commercial banks and retail industry fuel the global note sorter market. However, high implementation and maintenance cost of note sorter hinder the market growth. Contrarily, increase in penetration of virtual currency and digital transactions and presence of highly advanced note sorter machines present new opportunities in the next few years.

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Covid-19 Scenario:

• The banks and financial institutions were instructed to shut down their offices and individuals were not allowed to receive fund from the banks during the initial phase of lockdown.

• At the same time, the government across the globe have been creating awareness to use online banking and mobile and contactless payment services for money transactions to maintain social distancing.

• However, government bodies have introduced few relaxations in different regions during the post-lockdown. This is expected to proliferate the demand for these services and the market would recoup soon.

The report offers detailed segmentation of the global note sorter market based on sorter type, enterprise size, end user, and region.

By sorter type, the small sized services segment held the highest market share, accounting for around nearly half of the total share in 2019, and is projected to maintain its leadership position during the forecast period. Moreover, the medium-sized note sorter segment is projected to register the largest CAGR of 8.1% from 2020 to 2027.

By enterprise, the large enterprise segment accounted for the highest share in 2019, holding more than two-thirds of the global note sorter market, and is expected to maintain its lead in terms of revenue by 2027. Moreover, the segment is projected to portray the highest CAGR of 8.0% from 2020 to 2027.

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By region, North America contributed to the highest market share, accounting for around two-fifths of the total market share in 2019, and is expected to maintain its dominant share throughout the forecast period. However, Asia-Pacific is projected to manifest the fastest CAGR of 10.6% from 2020 to 2027.

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Leading players of the global note sorter market analyzed in the research include Glory Global Solutions (International) Limited, GRGBanking, Julong Europe GmbH, Bcash, Electronics Co., Cummins-Allison Corp., De La Rue plc, Giesecke & Devrient GmbH, Kisan Electronics, Laurel and Toshiba Infrastructure Systems & Solutions Corporation.

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