Counterfeit money detector is a device which identifies a counterfeit banknote. Banknotes are printed with some security features to reduce counterfeiting. Counterfeit money detectors find out whether the required security features are present on the banknote or not. These detectors have various built-in features such as UV detection and watermark detection to check whether the currency is authentic or not. Counterfeit money detectors help in increasing profit by reducing loss caused by counterfeit currency.
Governments worldwide are trying to reduce the circulation of fake currency notes. Counterfeiting is considered as a serious crime. To avoid the counterfeiting of currency, detectors are used by banks and other financial institutions as well as public places such as departmental stores and shopping malls where cash transactions are happening. Increasing fraudulent activities regarding the fake currency is driving the counterfeit detectors market. Also, government rules and regulations to prevent the circulation of fake currency notes are increasing the demand for counterfeit money detectors. Moreover, transportation industry is affected largely due to counterfeiting as the number of kiosks and vending machines at railway stations and airports are increasing at a higher rate. However, increasing cost of detectors to include more security features could prove to be a restraining factor for counterfeit money detectors market.
Use of automated products such as point-of-sale terminals in the retail sector provides opportunities for the counterfeit detectors market. These automated products are used for fast transactions without human intervention. Counterfeit detectors are an important part of the terminals to check whether the currency notes inserted are authentic. Also, various software are being launched to increase the capabilities of a counterfeit money detectors. This new trend in the market is helping the users to avoid counterfeiting effectively by simply installing a software which would automatically perform the required procedure to identify whether the currency is authentic or not.
Counterfeit money detectors market is segmented on the basis of product, technology, end device and industry. On the basis of product, the market is segmented into coin and currency counters, currency sorters, currency detectors, pens and others. Based on technology, the counterfeit money detectors market is segmented into ultraviolet, infrared, magnetic, watermark, microprint and other technologies. Counterfeit money detectors are used in various industries such as retail, banking, gaming, transportation, hospitality and other industries. End devices used in the counterfeit detectors include kiosks, gaming machines, self-checkout machines, vehicle parking machines, automatic fare collection machines and vending machines. Moreover, on the basis of geography, the global counterfeit money detectors market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North America is predicted to experience significant growth among all regional segments in the coming years, due to the rapid growth of gaming and retail industry.
The global counterfeit money detectors market is highly competitive in nature and is marked with the presence of several international and domestic key players. Major players in the counterfeit money detectors market include Glory Ltd., Cummins Allison Corp., Innovative Technology Ltd., Crane Payment Innovations, Cassida Corporation, Japan Cash Machine Co., Ltd., Accubanker, DRI Mark Products Inc., Fraud Fighter, Royal Sovereign International Inc. and Semacon Business Machines, Inc.
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, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, 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.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.