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Coin Detectors Market

Coin Detectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Coin detector is a device that helps to identify and detect fake coin currency. Genuine coins are manufactured by governments and have some security features on it that helps to reduce counterfeiting. Coin detectors offer various inbuilt features such as UV detection. This process helps in identifying fake currency and increases profit in business caused due to counterfeit currency. In almost all regions, counterfeiting of coins and bank notes is a crime due to strict government rules and regulation. Coin detectors are used by various financial institutions, banks, hotels, and in places where cash transactions happen. Moreover, numerous software are being developed in order to improve capability of coin detectors. There are mainly three types of counterfeit coins: cast counterfeits, altered and doctored coins, and struck counterfeits. Rise in hospitality industry, increase in spending nature of the population, and improved economic conditions in several regions are expected to boost the coin detectors market. In addition, the coin detectors market is expected to expand at a considerable pace in the near future due to growing fraud cases.

A major factor driving the global coin detectors market is the growing number of fraud cases and activities related to fake currencies worldwide. Moreover, governments have implemented strict rules and regulations against forged currency circulation. Therefore, rise in demand for counterfeit coin detectors due to strict rules and regulations are anticipated to drive the market during the forecast period. Coin detector machines are used in various industries such as hotels, retail shops, and hospitality and transportation. Transportation and hospitality industry is largely affected by counterfeit money due to installation of many vending machines. Growing demand for coin detectors to prevent loss in these industries is projected to propel the market in the coming years. However, adding more safety and security features to coin detectors entails high cost. This is expected to create a challenging environment for growth of the coin detectors market. Nevertheless, implementation of automated products and mounting advanced technical security features is expected to create significant opportunities in the global coin detectors market during the forecasted period.

The global coin detectors market can be classified based on type, application or end-user industry, and region. Based on type, the marked can be segmented into large sized machines, medium sized machines, and compact machines. In terms of end-user industry or application, the market can be categorized into transportation, retail, gambling, hotels, banking, and others such as hospitality industry. Based on region, the global coin detectors market can be divided into North America (The U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy, and Russia), Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, Philippines, Vietnam, Indonesia, Thailand, and others), Middle East & Africa (GCC and South Africa), and South America.

Major players operating in the global coin detectors market include Glory Ltd., Wenzhou Xingyao Electronics, Cummins Allison, Shanghai Guao Electronic Technology, Innovative Technology, Guangdong Baijia Baiter, GRG Banking Equipment, Suzhou Ribao Technology, Giesecke and Devrient, Julong, Crane Payment Innovations (CPI), Semacon Business Machines, SuzoHapp (Scan Coin), Billcon Corporation, Cassida Corporation, Royal Sovereign International, Japan Cash Machine, Laurel Bank Machines, Accu Banker, Kisan Electronics, Dri Mark Products, BCASH Electronics, and Fraud Fighter. Increasing competition in the market is prompting top companies to focus on manufacturing new structured innovative products with sustainable features and expand their production and research facilities in order to develop innovative products with more security features at less cost, and strengthen their presence in the global coin detectors market. This is likely to lead to the introduction of many advanced products in the market during the forecast period.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Coin Detectors Market

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