Retail Cash Management Market Surges As Digital Payment Solutions Transform Industry Dynamics As Per The Business Research Company's Retail Cash Management Global Market Report 2024

The global market reports from The Business Research Company have been updated with the most recent market sizing data for 2024 and projections extended to 2033


LONDON, April 01, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s retail cash management global market report 2024, the retail cash management market has experienced rapid expansion in recent years, with a notable increase from $4.32 billion in 2023 to an estimated $5.01 billion in 2024, boasting a compound annual growth rate (CAGR) of 15.9%. This retail cash management market growth is attributed to factors such as improved cash handling efficiency, cost reduction initiatives, heightened security concerns, and regulatory compliance requirements.

Anticipated Growth Trajectory

Forecasts indicate continued robust growth for the retail cash management market, with a projected valuation of $9.13 billion by 2028, marking a CAGR of 16.2%. This growth in the forecast period is expected to be driven by factors including the emphasis on customer experience, integration of contactless payment solutions, blockchain technology for enhanced security, the adoption of advanced robotics in cash handling, and a focus on environmental sustainability.

Learn More In-Depth On The Retail Cash Management Market

https://www.thebusinessresearchcompany.com/report/retail-cash-management-global-market-report

Emerging Trends and Industry Dynamics

Major trends shaping the retail cash management market include the adoption of cash recycler technology, the proliferation of cloud-based solutions, the utilization of data analytics for informed decision-making, the implementation of cloud-based cash management systems, the integration of mobile point-of-sale (mPOS) systems, and the alignment with e-commerce platforms.

Driving Force: Digital Payment Solutions

The increasing adoption of digital payment solutions is a significant driver of retail cash management market growth, revolutionizing retail cash management practices. Digital payments offer advantages such as enhanced efficiency, improved security, better data utilization, and a more sustainable approach to cash management. The surge in digital payments is evident, with significant increases in card payments and e-money transactions reported by the Central Bank of Ireland in 2021.

Key Players and Technological Innovations

Leading companies operating in the retail cash management market, including Oracle Corporation, Diebold Nixdorf Inc., and Glory Ltd., are focused on developing automation technology solutions to enhance efficiency and streamline operations. For instance, Glory Ltd. recently launched the next generation of their CASHINFINITY range of retail cash automation solutions, aimed at optimizing processes and reducing costs for retailers. Additionally, Loomis AB's acquisition of CIMA S.p.A. is expected to strengthen technological capabilities and broaden sales networks.

Get A Free Sample Of The Global Retail Cash Management Market Report

https://www.thebusinessresearchcompany.com/sample_request?id=13528&type=smp

Regional Insights and Market Segmentation

North America emerged as the largest region in the retail cash management market in 2023, with Asia-Pacific poised to exhibit the fastest growth in the forecast period. The retail cash management market is segmented by component (solution, service), deployment mode (on-premise, cloud), enterprise size (large enterprises, small and medium-sized enterprises), and application (balance and transaction reporting, cash flow forecasting, corporate liquidity management, payables and receivables, among others).

The retail cash management market is experiencing significant growth driven by technological advancements and the increasing adoption of digital payment solutions. As industry players continue to innovate and adapt to evolving market dynamics, the retail cash management landscape is expected to witness continued expansion, offering lucrative opportunities for stakeholders across the globe.

Retail Cash Management Global Market Report 2024 by The Business Research Company provides insights on the retail cash management market size, retail cash management market segments, retail cash management market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Check Out Similar Market Intelligence Reports By The Business Research Company:

Retail Analytics Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/retail-analytics-global-market-report

IoT In Retail Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/iot-in-retail-global-market-report

Smart Retail Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/smart-retail-global-market-report

Learn More About The Business Research Company

The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model – World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.


 

Contact Data