The counterfeit money detection market was valued at US$3.298 billion in 2017 and is projected to expand at a CAGR of 5.59% over the forecast period to reach US$4.569 billion by 2023. The counterfeit money detection market is growing on account of the strict government policies and regulation which prohibits the circulation of fake currency and as such many financial institutions, as well as other public places, are deploying counterfeit money detectors.
Research Methodology
The report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segments which have been covered as part of the report.
Market Dynamics
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides industry regulation as a whole; key industry, global and regional regulations which are determining the market growth, and a brief technological aspect of counterfeit money detection. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Key industry players profiled as part of this report are Japan Cash Machine, Fraud Fighter, Glory Ltd., Crane Payment Innovations, Cassida Corporation, Royal Sovereign, and Innovative Technology.
| Report Metric | Details |
| Market size value in 2017 | US$3.298 billion |
| Market size value in 2023 | US$4.569 billion |
| Growth Rate | CAGR of 5.59% during the forecast period |
| Base year | 2017 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Product, Technology, End User, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Japan Cash Machine, Fraud Fighter, Glory Ltd., Crane Payment Innovations, Cassida Corporation, Royal Sovereign, Innovative Technology |
| Customization scope | Free report customization with purchase |
Segmentation
Segments covered under the counterfeit money detection market report are as below:
By Product
Currency Detector
Currency Collector
Currency Sorter
By Technology
Infrared
Magnetic
Ultraviolet
Others
By End User
Banking
Retail
Hospitality
Others
By Geography
Americas
North America
South America
Europe Middle East and Africa
Europe
Middle East and Africa
Asia Pacific
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