Global Sorting Cash Machine market scope 2024, Forecast To 2033

The sorting cash machine market has displayed significant growth, moving from $1.6 billion in 2023 to $1.68 billion in 2024, indicating a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period is attributed to the increased demand for self-service machines, enhanced cash handling efficiency, compliance with regulatory requirements, the rising popularity of cashless transactions, and the adoption of multifunctional ATMs. Looking ahead to the next few years, the market is expected to experience strong growth, reaching $2.07 billion in 2028 at a CAGR of 5.4%. The growth in the forecast period can be attributed to the high adoption of machines within the retail banking sector in emerging economies, the increasing adoption of smart machines globally, the growing prevalence of contactless and digital payments, the integration of data analytics and reporting, and the rise of cash recycling. Major trends anticipated in the forecast period include advancements in security measures, continuous technological improvements such as contactless payments and mobile banking, the deployment of multifunctional machines, increased connectivity, and the growing emphasis on cash automation.