The global cash counter market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The growing application of cash counter in the BFSI sector owing to the rise in the number of banks is anticipated to drive the growth of the global cash counter market. According to the data published by India Brand Equity Foundation (IBEF) in 2022, the Indian banking system consists of 12 public sector banks, 22 private sector banks, 46 foreign banks, 56 regional banks, 1485 urban cooperative banks, and 96,000 rural cooperative banks. In addition, as of February 2022, the number of bank accounts opened under the government’s flagship financial inclusion drive “Pradhan Mantri Jan Dhan Yojana (PMJDY), reached 44.6 crores, and deposits in the Jan Dhan bank accounts totaled $21.25 billion).
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Moreover, the rise in the population coupled with rising disposable income is anticipated to raise the demand for banking and related services, which in turn will further drive the demand for the global cash counter market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada, the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.
Looking toward the demand for the cash counter, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. In October 2021, PayPoint launched a counter scheme to protect customers’ access to cash. PayPoint’s new scheme, called Counter Cash enables people to withdraw up to 50 euros. Retailers earn a commission on every transaction they process. According to the company, the service will not only enable people to make withdrawals but will also be completely free to customers and profitable to the retailers. Thus, such launches are anticipated to drive the growth of the global cash counter market during the forecast period.
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Competitive Landscape-
Laurel Bank Machines, Royal Sovereign, and Cummins Allison among others
By Type
- Single Pocket
- Double Pocket
By Application
- Casino
- Retail
- BFSI
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Scope of the Report
The research study analyzes the Global Cash Counter industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Cash Counter Market Report
1. What was the Global Cash Counter Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Cash Counter Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Cash Counter Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Cash Counter market.
- The market share of the Global Cash Counter market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Cash Counter market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Cash Counter market.
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