Retail Cash Management Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

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The Retail Cash Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Retail Cash Management Market:
https://www.thebusinessresearchcompany.com/report/retail-cash-management-global-market-report

According to The Business Research Company’s Retail Cash Management Global Market Report 2024, The retail cash management market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to cash handling efficiency, reducing cash handling costs, security concerns, regulatory compliance, integration with point-of-sale (pos) systems.

The retail cash management market size is expected to see rapid growth in the next few years. It will grow to $9.13 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to customer experience, contactless payments integration, blockchain for security, advanced robotics in cash handling, environmental sustainability. Major trends in the forecast period include cash recycler technology, cloud-based solutions, data analytics for decision making, cloud-based cash management systems, mobile point-of-sale (mpos) systems, integration with e-commerce platforms.

The increasing adoption of digital payment solutions is expected to propel the growth of the retail cash management market going forward. Digital payment solutions are online tools and services that enable electronic transactions and financial exchanges over the Internet, streamlining payments and reducing the reliance on physical currency. Digital payments are revolutionizing retail cash management by improving efficiency, enhanced security, better data utilization, and a more sustainable and customer-centric approach to cash management. For instance, in September 2022, according to the Central Bank of Ireland, an Ireland-based central bank, the volume of card payments increased by 20.6 percent in 2021. Further, in 2021, e-money payments surged by 289%, reaching approximately $29.77 billion (€28 billion) in transaction value, with a 70% increase in transaction volume compared to 2020. Therefore, the increasing adoption of digital payment solutions is driving the growth of the retail cash management market.

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The retail cash management market covered in this report is segmented –

1) By Component: Solution, Service
2) By Deployment Mode: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Balance And Transaction Reporting, Cash Flow Forecasting, Corporate Liquidity Management, Payables And Receivables, Other Applications

Major companies operating in the retail cash management market are focused on developing automation technology solutions to improve efficiency. Automation technology solutions refer to a range of technological systems, tools, and processes designed to automate and streamline various tasks, operations, or processes within businesses and industries. For instance, in September 2022, Glory Ltd., a Japan-based cash management company, launched the launch of the next generation of their market-leading CASHINFINITY range of retail cash automation solutions. The new solutions are designed to optimize cash processes, reduce costs, and improve operational efficiency for retailers of all sizes.

The retail cash management market report table of contents includes:

1. Executive Summary
2.Retail Cash Management Market Characteristics
3.Retail Cash Management Market Trends And Strategies
4.Retail Cash Management Market analysis
5.Retail Cash Management Market Size And Growth
6.Retail Cash Management Segmentation
7.Retail Cash Management Regional And Country Analysis
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27.Retail Cash Management Competitive Landscape And Company Profiles
28. Retail Cash Management Key Mergers And Acquisitions
29.Retail Cash Management Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

  • Oracle Corporation
  • NTT Data Corporation
  • HCL Technologies Limited
  • Toshiba Tec Corporation

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