Market Overview:
The global banknote recycler market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for banknote recyclers from various applications such as public transport, parking, store, and bank sectors. In addition, the growing awareness about environmental protection is also fueling the demand for banknote recyclers across the globe. Based on type, small size and large size are two major types of banknote recyclers available in the market. The small size segment is projected to grow at a higher CAGR during the forecast period owing to its low price and easy installation as compared to large size segment. Based on application, public transport sector is expected to hold a dominant position in terms of revenue contribution followed by parking sector during 2018-2030.
Product Definition:
A banknote recycler is a machine that processes used or damaged banknotes, transforming them into new, usable currency. Banknote recyclers are important because they help to keep banks and other financial institutions running smoothly by ensuring that all currency in circulation is accounted for and usable.
Small Size:
Small size banknotes are defined as notes below A4 in size. The global small-size banknote recycler market is expected to witness significant growth over the forecast period owing to increasing demand for cash recycling services from various industries such as hospitality, healthcare, and retail. In addition, rising awareness regarding counterfeit currency across the globe is also anticipated to drive market growth over the next seven years.
Large Size:
Large size is a term used for banknotes which are of dimensions greater than the standard currency note but less than the large size. The global market for large size and it's usage in banknote recycler is still emerging and has vast scope for growth over the forecast period owing to increasing demand from various end-use industries such as retail, hospitality, healthcare & life sciences, education & research etc.
Application Insights:
The banknote recycler market is segmented by application into public transport, parking, stores and banks. The stores segment held the largest share in 2017 owing to the growing adoption of recycled banknotes for making purchases at retail outlets. The use of recycled notes helps reduce cash circulation which leads to a reduction in demand for printing new notes. This has led to an increase in usage of recycled banknotes at stores thereby contributing towards store¢â‚¬â„¢s share.
The public transport application is expected to witness significant growth over the forecast period due largely to initiatives taken by governments across various countries such as India, China and Australia among others have made it mandatory for all buses and trains operating within their borders that payment be made only with cashless payments using e-wallets or mobile wallets such as Paytm, MobiKwik.
Regional Analysis:
Asia Pacific dominated the global banknote recycler market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing government initiatives for use of recycled notes and growing adoption of cashless payment systems across countries such as China, India, Japan, Singapore and Thailand.
The Middle East & Africa is anticipated to be one of the fastest-growing regions over the forecast period owing to increasing number of banknote shredders in countries such as South Africa and Saudi Arabia on account rising demand for privacy while using debit/credit cards or withdrawing money from ATMs. Shredders are also used at airports for destroying old currency notes before they are taken into circulation by replacing them with new ones that have microchips embedded so that they can be tracked if stolen.
Growth Factors:
- Increasing awareness about the benefits of banknote recycler among consumers and businesses
- Rising demand for currency recycling solutions from banks and other financial institutions
- Proliferation of digital payments modes that is reducing the demand for cash currency
- Stringent government regulations on waste management and increasing environmental concerns among consumers are driving the adoption of banknote recyclers
- Growing trend of sustainability in business operations is prompting companies to adopt cost-effective and eco-friendly currency recycling solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
Banknote Recycler Market Research Report
By Type
Small Size, Large Size
By Application
Public Transport, Parking, Store, Bank, Others
By Companies
Suzohapp, JCM Global, Innovative Technology, Glory, Suzohapp
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
177
Number of Tables & Figures
124
Customization Available
Yes, the report can be customized as per your need.
Global Banknote Recycler Market Report Segments:
The global Banknote Recycler market is segmented on the basis of:
Types
Small Size, Large Size
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Public Transport, Parking, Store, Bank, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Suzohapp
- JCM Global
- Innovative Technology
- Glory
- Suzohapp
Highlights of The Banknote Recycler Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Small Size
- Large Size
- By Application:
- Public Transport
- Parking
- Store
- Bank
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Banknote Recycler Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Banknote Recycler is a mobile app that helps people recycle banknotes. The app allows users to scan banknotes and receive information about the recycling process.
Some of the key players operating in the banknote recycler market are Suzohapp, JCM Global, Innovative Technology, Glory, Suzohapp.
The banknote recycler market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Banknote Recycler Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Banknote Recycler Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Banknote Recycler Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Banknote Recycler Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Banknote Recycler Market Size & Forecast, 2018-2028 4.5.1 Banknote Recycler Market Size and Y-o-Y Growth 4.5.2 Banknote Recycler Market Absolute $ Opportunity
Chapter 5 Global Banknote Recycler Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Banknote Recycler Market Size Forecast by Type
5.2.1 Small Size
5.2.2 Large Size
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Banknote Recycler Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Banknote Recycler Market Size Forecast by Applications
6.2.1 Public Transport
6.2.2 Parking
6.2.3 Store
6.2.4 Bank
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Banknote Recycler Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Banknote Recycler Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Banknote Recycler Analysis and Forecast
9.1 Introduction
9.2 North America Banknote Recycler Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Banknote Recycler Market Size Forecast by Type
9.6.1 Small Size
9.6.2 Large Size
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Banknote Recycler Market Size Forecast by Applications
9.10.1 Public Transport
9.10.2 Parking
9.10.3 Store
9.10.4 Bank
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Banknote Recycler Analysis and Forecast
10.1 Introduction
10.2 Europe Banknote Recycler Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Banknote Recycler Market Size Forecast by Type
10.6.1 Small Size
10.6.2 Large Size
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Banknote Recycler Market Size Forecast by Applications
10.10.1 Public Transport
10.10.2 Parking
10.10.3 Store
10.10.4 Bank
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Banknote Recycler Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Banknote Recycler Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Banknote Recycler Market Size Forecast by Type
11.6.1 Small Size
11.6.2 Large Size
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Banknote Recycler Market Size Forecast by Applications
11.10.1 Public Transport
11.10.2 Parking
11.10.3 Store
11.10.4 Bank
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Banknote Recycler Analysis and Forecast
12.1 Introduction
12.2 Latin America Banknote Recycler Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Banknote Recycler Market Size Forecast by Type
12.6.1 Small Size
12.6.2 Large Size
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Banknote Recycler Market Size Forecast by Applications
12.10.1 Public Transport
12.10.2 Parking
12.10.3 Store
12.10.4 Bank
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Banknote Recycler Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Banknote Recycler Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Banknote Recycler Market Size Forecast by Type
13.6.1 Small Size
13.6.2 Large Size
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Banknote Recycler Market Size Forecast by Applications
13.10.1 Public Transport
13.10.2 Parking
13.10.3 Store
13.10.4 Bank
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Banknote Recycler Market: Competitive Dashboard
14.2 Global Banknote Recycler Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Suzohapp
14.3.2 JCM Global
14.3.3 Innovative Technology
14.3.4 Glory
14.3.5 Suzohapp