The Latin America, Middle East and Africa Coin Sorter Market would witness market growth of 10.9% CAGR during the forecast period (2022-2028).
While security, accuracy, and efficiency continue to be the most significant characteristics of coin sorter machines, manufacturers are offering additional add-ons, such as machine graphics, touch-screen displays, and hands-free coin management functions. To obtain a competitive edge in the market for coin sorter machines, distributors and manufacturers are leveraging cutting-edge technology to provide coin sorter machines with highly advanced and superior security features.
The coin sorter market is affected by a variety of factors, such as the growth of commercial banks and the retail sector, the rise in demand for automated cash handling products, the surge in the demand for technically sophisticated self-service machines, the expansion of application areas, and the consumer preference for digital transaction solutions. In addition, the growing number of developed as well as developing countries have a significant expansion potential for the retail industry, which is anticipated to boost the coin sorter market growth in the coming years.
South Africa encompasses a significant retail industry in the region. The retail food industry in South Africa is well established and continues to grow in other African nations. According to the Food and Agriculture Department, as the South African economy started to recover from the ravages of the COVID-19 pandemic, retail food sales in 2021 totaled $40 billion, a 0.2 percent rise from 2020. The expansion followed the relaxation of COVID-19 requirements and an increase in in-store shopping rates.
The Brazil market dominated the LAMEA Coin Sorter Market by Country in 2021; thereby, achieving a market value of $119.5 million by 2028. The Argentina market is estimated to grow at a CAGR of 11.5% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 10.6% during (2022 - 2028).
Based on Type the market is segmented into Small Size Coin Sorter, Medium Size Coin Sorter and Large Size Coin Sorter. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Coin Sorter Market is Predict to reach $6.2 Billion by 2028, at a CAGR of 8.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Giesecke & Devrient GmbH, Glory Ltd. (Glory Global Solutions, Inc.), De La Rue PLC, Guangdong Baijia Baiter Co., Ltd., Royal Sovereign, Cummins Allison Corp., Suzhou Ribao Technology Co., Ltd., BCash, CTcoin A/S.
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