Cash Handling Device Market By Type (Banknote Sorter, Coin Sorter, Automatic Teller Machine (ATM)) , By Application (Banks, Retail, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032

Cash Handling Device Market By Type (Banknote Sorter, Coin Sorter, Automatic Teller Machine (ATM)) , By Application (Banks, Retail, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032

The cash handling device market was valued at $11.3 billion in 2023, and is projected to reach $18.4 billion by 2032, growing at a CAGR of 5.5% from 2024 to 2032.

A cash handling device refers to any machine or tool designed to process, count, verify, or manage physical currency, such as banknotes and coins. These devices are commonly used in retail, banking, and other industries where cash transactions are frequent. Cash handling devices streamline the process of counting money, detecting counterfeit currency, and securely storing cash, thereby reducing human error and improving operational efficiency. Examples include cash counters, coin sorters, cash recyclers, and counterfeit detectors.

The growth of the global cash handling device market is driven by rise in cash transactions. Despite the growth of digital payments, cash remains a widely used medium for transactions, especially in emerging economies, driving the demand for cash handling devices. According to a study published in 2023 by Cash Matters—a pro-cash movement—cash is used for 16% of point-of-scale payments globally. In addition, businesses, particularly in retail, banking, and hospitality, require faster and more accurate ways to manage cash, which fuels the demand for automated cash handling devices that reduce human error, improve efficiency, and cut labor costs. Furthermore, the global shift toward automation in various sectors has boosted the adoption of advanced cash handling devices, such as cash recyclers, to streamline cash management processes. The continuous expansion of the retail industry, coupled with banking operations in developing countries, significantly fuels the demand for cash handling solutions. However, increase in global adoption of digital payment methods, such as mobile payments, contactless cards, and online transactions, is reducing the reliance on physical cash. A 2022 report by the Reserve Bank of India found that digital payments grew by 33% year-on-year, with mobile payments rising sharply. This shift could limit the need for cash handling devices in certain economies. In addition, high cost of cash handling devices, such as cash recyclers and advanced counterfeit detectors, acts as the key deterrent factor of the global market. On the contrary, innovations in cash handling technologies, including integration with digital platforms, IoT, and data analytics, are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.

The global cash handling device market outlook is segmented into type, application, and region. On the basis of type, the market is divided into banknote sorter, coin sorter, and automatic teller machine (ATM). Depending on application, it is categorized into banks, retail, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Key Findings

Depending on type, the automatic teller machine (ATM) segment is expected to dominate the market from 2024 to 2032.

On the basis of application, the banks segment in the cash handling device market is anticipated to experience rapid growth by 2032.

Region wise, North America led the market in 2023; however, Asia-Pacific is projected to emerge as the most lucrative market for cash handling device during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global cash handling device market include Diebold Nixdorf, Incorporated, NCR Corporation, Triton Systems of Delaware, LLC, GRG Banking, Hitachi Channel Solutions, Corp., HESS Cash Systems, TetraLink, Fujitsu Frontech Limited, Edge One, Volumatic, CashTech Currency Products, SOUTH Automation Int., and CIMA Cash Handling America Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.

Key Market Segments

By Type

Banknote Sorter
Coin Sorter
Automatic Teller Machine (ATM)

By Application

Banks
Retail
Others

By Region

North America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Mexico
Rest of LAMEA

Key Market Players

Diebold Nixdorf, Incorporated
NCR Corporation
Triton Systems of Delaware, LLC
GRG Banking
Hitachi Channel Solutions, Corp.
HESS Cash Systems
TetraLink
Fujitsu Frontech Limited
Edge One
Volumatic
CashTech Currency Products
SOUTH Automation Int.
CIMA Cash Handling America Inc.