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Currency counting machine market growing at 3.94% CAGR by 2021 according to new research report

The global currency counting machine market to grow at a CAGR of 3.94% during the period 2017-2021.

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The following companies as the key players in the global currency counting machine market: Giesecke & Devrient, Glory Global Solutions, and Cummins-Allison. Other Prominent Vendors in the market are: BILLCON, GRGBanking, Guangdong Baijia Baiter Industry, Julong, Kisan Electronics, LAUREL BANK MACHINES, Maxsell, Royal Sovereign, and Shenzhen Best Machinery Electronics.

Complete report on the Currency Counting Machine Market Research Report spread across 66 pages, profiling 12 companies with table of content is now available at  http://www.reportsnreports.com/contacts/.aspx?name=1127653 

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Currency Counting Machine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is Growing need for weight-based currency counting machines. The global shift toward polymers is compelling governments of various countries to adopt plastic bills.

Polymer banknotes are 2.5 times more durable than the current cotton-based paper notes. These notes are manufactured using a transparent plastic film coated with an ink layer.

It allows clear portions in designs and improves the security against counterfeits. The switch to polymer-based banknotes will lead to fewer rejections by cash processing machines and lower destruction rates, resulting in better ROI.

In addition, the security features are enhanced in polymer-based banknotes to detect counterfeits.

According to the report, one of the major drivers for this market is Increase in fake currency. The counterfeiting of currency is one of the oldest crimes in history.

When the first coins were minted, their value was based on the intrinsic value of the metal. Forgers would scrap off small amounts of the metal from original coins and use it to make fake coins with inexpensive base metals.

The fake currency market has become a big black market and is one of the biggest problems for governments. Counterfeit money poses a major threat to national security and can result in economic destabilization.

For instance, according to the National Crime Agency, counterfeit Bank of England notes with a value of £8.05 million were taken out of circulation in 2014.

Access this Report at www.reportsnreports.com/.aspx?name=1127653 .

Further, the report states that one of the major factors hindering the growth of this market is Lack of quality standards in service level agreements (SLAs). SLAs establish a contract between the service provider (either internal or external) and the end-user, which covers all possible levels of services from the service provider.

SLAs are output-based contracts that specifically define the benefits and support received by a customer during the term of the agreement. However, the SLAs do not cover the delivery of services, and end-users are not informed about the full services to be included in SLAs.

This report covers the present scenario and the growth prospects of the global currency counting machine market for 2017-2021. To calculate the market size, the report considers the end-user segments.

A currency counting machine is used either for counting or sorting or counterfeit detection or all the three, for banknotes and coins. The global currency counting machine market can be segmented by end-user into three segments: banking, financial services, and insurance (BFSI); retail; and commercial.

The BFSI sector dominates the market, followed by the retail and commercial sectors. In terms of the market by region, APAC holds the largest share of the global market, followed by the Americas and EMEA.

The increasing number of bank branches in the region drives the market growth in APAC.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?                       

What is driving this industry?                                  

What are the challenges to market growth?

Who are the key vendors in this industry space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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