Overview and Scope
Cash recyclers are machines that automate the process of efficiently accepting, verifying, storing, and releasing currency. These machines simplify cash-handling procedures by decreasing manual counting, increasing accuracy, strengthening security measures, and maximizing cash flow management.
Sizing and Forecast
The cash recycler market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to cash usage patterns, customer experience, efficiency improvements, security concerns, cost reduction, regulatory compliance.
The cash recycler market size is expected to see strong growth in the next few years. It will grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to expansion of cash-intensive industries, increasing focus on sustainability, growing demand for self-service banking, expansion of retail banking networks, growing emphasis on cash automation. Major trends in the forecast period include AI and Machine learning, mobile integration, customization and scalability, data analytics and reporting, remote monitoring and management.
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Segmentation & Regional Insights
The cash recycler market covered in this report is segmented –
1) By Type: Independent Cash Recycling Modules, Embedded Cash Recycling Modules
2) By Application: Automated Teller Machine, Self-Checkout, Bill Payment, Retail Cash Management, Teller Assist
3) By Industry: Banking, Financial Services, And Insurance, Retail And E-commerce, Hospitality, Government, Media And Entertainment, Other Industries
Asia-Pacific was the largest region in the cash recycler market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cash recycler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for efficient cash management is expected to propel the growth of the cash recycler market going forward. Cash management refers to collecting, managing, investing, and disbursing cash within an organization to optimize its liquidity, minimize financial risk, and maximize profitability. The increasing demand for efficient cash management is driven by regulatory, technological, and competitive factors, compelling businesses to prioritize cash optimization and liquidity management to achieve their financial objectives. Cash recycling devices enhance consumer experiences by providing safe and effective cash management solutions and easily interface with digital banking systems. For instance, according to Nationwide Building Society, a UK-based financial institution, in January 2024, the total number of times ATMs were utilized for cash deposits increased by 10%, while the average deposit amount rose by 29% compared to five years ago. Furthermore, the network of over 1,200 ATMs processed over 31.4 million cash withdrawals in the previous year, marking a 4% increase from 2022. Therefore, the growing demand for cash recyclers to efficiently manage cash levels is driving the growth of the cash recycler market.
Key Industry Players
Major companies operating in the cash recycler market are Fiserv Inc., Fifth Third Bank NA, NCR Corporation, The Brink’s Company, Garda World Security Corporation, Diebold Nixdorf Inc., Giesecke+Devrient Currency Technology America Inc., Loomis AB, GRG Banking Equipment Co. Ltd., CPI Card Group, Gunnebo AB, Cummins Allison Corp., JCM Global, FireKing Security Group, Hitachi Payment Services Pvt. Ltd., Tidel Engineering L.P., Nautilus Hyosung America Inc., Glory Global Solutions Inc., Kisan Electronics Co. Ltd., Triton Systems of Delaware LLC, CashTech Currency Products Inc., KICTeam Inc., Cassida Corporation, Volumatic Ltd., Hyosung TNS Inc.
The cash recycler market report table of contents includes:
1. Executive Summary
2. Cash Recycler Market Characteristics
3. Cash Recycler Market Trends And Strategies
4. Cash Recycler Market – Macro Economic Scenario
5. Global Cash Recycler Market Size and Growth
…..
32. Global Cash Recycler Market Competitive Benchmarking
33. Global Cash Recycler Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cash Recycler Market
35. Cash Recycler Market Future Outlook and Potential Analysis
36. Appendix
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