Report Code: A09471 | Pages: NA | Mar 2023 | 2192 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Counterfeit Money Detection Market
Request Now !The global counterfeit money detection market is experiencing significant growth and is expected to grow considerably in the next few years. Counterfeit money detector is a device that detects a counterfeit banknote. Banknotes are printed with some security features to decrease counterfeiting of currency. It detects whether essential security features are present on banknotes or not. They are designed to spot highest quality fake bills instantly. Counterfeit money detectors are used in various industries such as banking, retail, gaming, and hotel. Counterfeit money detectors detect dirty, damaged, and rumpled bank notes as counterfeit. When these detection devices come across some suspected bank notes, they alert cashier to inspect bank notes. Â
The global counterfeit money detection market is segmented on the basis of Type, Technology, Industry Vertical. Based on Type, the counterfeit money detection market is divided into Currency Detectors, Coin & Currency Counters, Pens, and Currency Sorters and others. On the basis of Technology, the market is categorized into Ultraviolet, Infrared, Magnetic, and Others, and others. On the basis of Industry Vertical into Banking, Retail, Gaming, Hotel, and Others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global counterfeit money detection market include Crane Payment Innovations, Glory Ltd., Semacon Business Machines, Inc., DRI Mark Products Inc., Cassida Corporation, Japan Cash Machine Co., Ltd., Cummins Allison Corp., Fraud Fighter, Cassida Corporation., and Royal Sovereign. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.
COVID-19 scenario Analysis:Â
Counterfeiting is one of the serious crimes in present time. The major factor that drives growth of the global counterfeit money detection market is government  regulations and prevention laws. Increase in incidences of fake currency at various industries such as banking and gaming has led to increase the market growth. Rise in use of counterfeit money detectors at airports, shopping malls, and financial institutions contribute toward growth of the counterfeit money detection market growth. In addition, installed software that detects fake currency notes is expected to spur growth of the gloabal counterfeit money detection market share. Inadequacy of currency detection devices to detect currency restricts growth of the global market . However, rise in use of various technologies for counterfeit money detection in the retail sector can create high revenue opportunities for players in the market.
Counterfeit money detection devices are incorporated with various technologies such as ultraviolet, infrared, and magnetic. Ultraviolet technology is widely used technology by counterfeit money detection devices, owing to its high rate of of accuracy for finding a counterfeit note. Magnetic technology is expected to grow with the highest CAGR, owing to various advantages offered by the technology. This technology is used by most of developed and developing economies such as U.S., Germany, China, Japan, and India. Magnetic technology is used in most hand held devices in detection of magnetic properties of currencies. Other technologies such as infrared is estimated to grow with a decent growth rate during the forecast period.
Key segments covered:
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Key benefits of the report:
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Type, Technology, Industry Vertical, and Region |
 Regions covered | North America (US, Canada, and Mexico ), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia and the Rest of Asia Pacific), and LAMEA (Latin America, Middle East and Africa) |
 Companies covered | Major players analyzed include Crane Payment Innovations, Glory Ltd., Semacon Business Machines, Inc., DRI Mark Products Inc., Cassida Corporation, Japan Cash Machine Co., Ltd., Cummins Allison Corp., Fraud Fighter, Cassida Corporation., and Royal Sovereign. |
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Questions answered in the Counterfeit Money Detection Market research report:
Counterfeit Money Detection Market Report Highlights
Aspects | Details |
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By Product Type |
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By Technology |
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By Application |
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By Industry Vertical |
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Key Market Players | Crane Payment Innovations, Glory Ltd., Semacon Business Machines, DRI Mark Products Inc., Cassida Corporation, Japan Cash Machine Co., Ltd., Cummins Allison Corp., Fraud Fighter, Cassida Corporation., Royal Sovereign. |
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