Counterfeit Money Detection Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Currency Detector, Currency Collector, Currency Sorter), By Technology (Infrared, Magnetic, Ultraviolet, Others), By End User (Banking, Retail, Hospitality, Others), And By Geography - Forecasts From 2023 to 2028

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 to 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.

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