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.
Cash Recycler Global Market Report 2024 provides data on the global cash recycler market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cash recycler market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
The cash recycler market has grown significantly, expanding from $3.57 billion in 2023 to $3.76 billion in 2024 at a CAGR of 5.3%. Growth drivers include cash usage patterns, efficiency improvements, security concerns, cost reduction, and regulatory compliance. The market is projected to reach $4.70 billion by 2028 with a CAGR of 5.7%. Key drivers include the growth of cash-intensive industries, self-service banking, and retail banking network expansion. Trends include AI and machine learning integration, mobile capabilities, scalability, data analytics, and remote monitoring.
The growing demand for efficient cash management is expected to drive the growth of the cash recycler market. Cash management involves optimizing cash flows and minimizing financial risks within organizations. The demand for efficient cash management has grown due to regulatory, technological, and competitive factors. Cash recyclers enhance consumer experiences by providing safe and effective solutions for managing cash and integrating with digital banking systems. For example, in January 2024, Nationwide Building Society reported a 10% increase in ATM cash deposit transactions, with a 29% rise in the average deposit amount compared to five years ago. Thus, the increasing demand for effective cash management is propelling the growth of the cash recycler market.
Get Your Free Sample of the Global Cash Recycler Market Report 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
Companies in the cash recycler market are concentrating on developing cassette-based recycling solutions, such as the GLR-100, to boost their revenue. GLR-100 is a cassette-based teller cash recycler (TCR) that utilizes cassettes for handling and storing banknotes. For instance, in August 2022, Glory, a Japan-based cash technology solutions company, unveiled the GLR-100, a new addition to its GLR series of TCRs. The GLR-100 features self-audit capabilities, improving the economics of branch banking. These advanced TCRs use banknote identification technology and are IoT and cloud-enabled, integrating seamlessly with Glory’s UBIQULARTM solutions. This integration enhances business analytics and supports remote monitoring and management of devices across branch networks.
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.