According to a new market research report "Counterfeit Money Detection Market, by Product (Coin & Currency Counter, Currency Sorter, Currency Detector, & Pen), Technology (Ultraviolet, Infrared, Magnetic, Watermark, & Microprint), Industry, End Device, and Geography - Global Forecast to 2020", the global market is expected to reach USD 3.11 Billion by 2020, at a CAGR of 6.9% during the forecast period.
Browse 71 market data Tables and 68 Figures spread through 154 Pages and in-depth TOC on "Counterfeit Money Detection Market - Global Forecast to 2020"
Early buyers will receive 10% customization on reports.
Retail industry expected to lead the counterfeit money detection market
Circulation of counterfeit currency is a serious threat for the retail industries because retail stores handle a lot of hard currency transactions and do not always have the strong security measures to control the same. Therefore, this sector is considered as a prime target for counterfeiting. Many skilled criminals can imitate the authentic bank notes, and this is virtually impossible for the cashiers to note the differences every time only through sight and touch. To avoid these monetary losses in the business, counterfeit money detectors can be installed. The detector is expected to alert immediately so that the cashier can refuse the bills and prevent the circulation of counterfeit notes in the business.
Currency detectors expected to dominate the counterfeit money detection market segmented on the basis of product types
Currency detectors are the widely used products for counterfeit money detection. These are especially designed for detecting counterfeit banknotes. Counterfeit detectors are built-in with various technologies such as ultraviolet, infrared, watermark, microprint, magnetic, and other technologies which are able to identify counterfeit banknotes.
The APAC market expected to grow at the highest CAGR during the forecast period
The market in APAC is expected to grow at a CAGR of 8.4% between 2015 and 2020. Governments of Asian countries such as China, Japan, and Australia give prime importance to the security aspect; there are numerous initiatives as well as various counterfeiting laws and penalties have been implemented in these countries to check on the circulation of counterfeit currency.
The report analyzes the market trends for each of the market segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analysis such as Porter’s five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the counterfeit money detection market. The report also provides a qualitative and quantitative description of the segmentations considered for the market. It also gives a detailed view of the market across four geographical regions: North America, Europe, APAC, and RoW. North America is holding the largest size in terms of value of the counterfeit money detection market, whereas APAC has been identified as the fastest-growing region globally.
The report also profiles the most promising players in the counterfeit money detection market. The key players in the market are Crane Payment Innovations (U.S.), Glory Global Solutions (Japan), Japan Cash Machine Co., Ltd. (Japan), Cummins Allison Corp. (U.S.), Fraud Fighter (U.S.), Cassida Corporation (U.S.), and Royal Sovereign (U.S.) among others.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]