The banknote market is projected to experience significant growth, with a CAGR of 6% from 2023 to 2028. This growth is attributed to several factors such as, increasing banknote circulation, the need for faster currency counting, and the rise in losses from counting errors, damaged notes, or counterfeit cash. As fake and fraudulent notes become more prevalent, businesses and financial institutions are expected to increase their demand for cash sorters to implement more advanced security measures that are harder to detect visually.
Security is a factor that banks and merchants are paying more attention to. The banknote counter delivers consistent, continuous, and uninterrupted authentication of various currencies at a processing rate of up to 1,200 notes per minute on average. The market for banknote/currency sorters is anticipated to develop as a result.
Cash to Cashless Economy
International payment markets, governments, and businesses are all greatly impacted by the digital transformation (DX) of the global economy. This transformation has also greatly challenged traditional payment systems, as new market players such as large fintech and IT firms have taken on a central role in national and international payment systems.
Fintech companies in emerging markets are utilizing technology to advance payment systems and bypassing the payment infrastructure of developed economies.
Increasing Inflation Rate
Despite easing price pressures, inflation is still strong and is reducing consumer purchasing power. Global consumer spending rose by 1.9% in real terms in 2022 and it is expected to increase by 1.1% in real terms in 2023. Moreover, changes to monetary and fiscal policy in 2023 will undoubtedly make things worse for consumers. Higher interest rates will make debt more expensive for borrowers and reduce their disposable income. Fiscal policies implemented by governments that aimed to lessen some of the inflationary effects on consumers and enhance purchasing power, particularly of lower-income households, are also predicted to be evaluated as countries confront higher borrowing costs in 2023.
Increasing Online Payments
Governments across the world are endorsing digital payment to promote immediate expenditure, municipal governments in China, for instance, have offered vouchers via WeChat Pay. As the economy begins to recover, China's transition to a cash-lite society will allow it to stop the spread of disease by supporting quarantines. The demand for cash in the form of banknotes will decrease as internet payments grow. The world's largest number of online transactions take place in the United States of America. In the USA, market leaders include PayPal and Google Pay. They have simplified banking transactions and transformed the industry.
The United States leads the market primarily due to the country's increased proportion of cash-based small-purchase transactions and other enterprises as well as banks in this area are investing in strengthening their security measures to combat fake money. The region's supremacy has been aided by the abundance of cash-based industries and the volume of money in circulation there.
However, in Asia-Pacific region, China saw the fastest growth during the forecasted period. The major factor driving the growth in the nation are the rising demand for currency counters to handle the rising number of currency notes entering circulation in the region and the rising necessity to combat counterfeit money.
Makreo research has published study on Banknote Market titled, “Global Banknote Market Analysis and Forecast 2028: Segmentation by Region, Technology and End-User Industry”. Global Banknote Market Analysis and Forecast 2028: Segmentation by Region, Technology, and End-Use Industry”. The study evaluates banknote production and circulation in volume and value terms along with detailed assessment of major contributing macro-economic and industry factors. Banknote demand has been impacted with rise in adoption of digital currency thus the study includes an analysis of digital payment adoption vs currency in use. Report is the right blend of qualitative and quantitative factors with macro-economic and sectors assessment.
Assessment by major geographies has been carried out that will help the reader to understand production & supply of banknotes. Report also helps to understand how industry has performed during the COVID-19 period and what is the expected future growth in presence of other variables that account for high correlation with the Banknote industry.
Period of Study
2018-2022: Past and Present Scenario
2023-2028: Future Outlook of the industry
Asia Pacific (Japan, China, India, Australia, Indonesia)
De La Rue Plc
Giesecke + Devrient GmbH
Joint Stock Company Goznak
Oberthur Fiduciaire SAS
Orell Fussli Holding AG
Key Questions Answered
How banknote market is coping up with the economy set back led by COVID-19?
At what rate global banknote market revenue grew in the past and what is the present state of the industry?
What are the major driving factors accounted for a push to the industry in the past?
What is the expected future of the Global Banknote Market?
Who are the major players operating in the banknote market and how these players are contributing to the industry?
Which platform plays a dominant role in terms of generating maximum demand for banknote market?
Identify the major macroeconomic factors present in Global banknote?
How Global economy has performed in the past and what is the future expected growth outlook?
Table of Content
1. Research Methodology
Objective of the Study
Data Collection Methods
2. Global Banknote Market – Macro Economic Factors
Global Economic Overview
Increasing Interest Rates
Increasing Online Payments
3. Global Banknote Market Analysis – Past and Future Assessment
Global Banknote Market Performance
Global Banknote Market Revenue – Past, Present and Future Outlook
Cash Volume Growth – Regional Performance
Global Currency Performance & Impact of COVID-19
4. North America Banknote Market Analysis
United States Banknote Market – Production Facts
Cost of Making Federal Reserve Notes
United States Banknotes - COVID-19 Crisis & Measures
United States - Currency in Circulation
5. Europe Banknote Market Analysis
Europe Banknote Market Performance
Europe Payment Trends
Europe Banknote Transactions Facts
Europe Banknotes Issuance by Value and Volume
The UK Banknote – Key Highlights
The UK Banknotes in Circulation
The UK –Counterfeit Notes
6. Asia Pacific Banknote Market Analysis
Australia Banknotes – Key Facts
Australia Banknotes in Circulation
Australia - Counterfeit Banknotes
Economic Crisis and Australian Banknotes in Circulation
India Banknotes – Key Facts
India Banknotes – Currency in Circulation
India Banknotes – Currency in Circulation by Denomination
India Banknotes – Expenditure on Printing
India Banknotes – Counterfeit
Japan Banknotes – Key Facts
Japan Banknotes – Currency in Circulation
China Banknotes – Key Facts
China Banknotes – Currency in Circulation
Indonesia Banknotes – Key Facts
Indonesia Banknotes – Currency in Circulation
7. UAE Banknote Market Analysis
UAE Banknotes– Key Facts
UAE Banknotes– Currency in Circulation
8. Banknote Market – Company Profile
Company Profile – Da la Rue plc
Company Profile – Giesecke & Devrient (G&D)
Company Profile – Crane Holding Co
Company Profile – Orell Fussli Holding AG
Company Profile – FNMT-RCM
Company Profile – Security Papers Limited
Company Profile – Oberthur Fiduciaries SAS