The global retail cash management market size was US$ 3.2 billion in 2021. The global retail cash management market size is forecast to reach US$ 10.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.5% during the forecast period from 2022 to 2030.
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Businesses can improve their operational efficiency by using cash management solutions in the retail sector. Staff members can track the flow of money from the cash drawer and store it safely all the way to the bank thanks to cash management systems that are integrated with the POS and back office. Additionally, features like counting by denominations are a great way to remember the coins and smaller bills needed to send change, which helps with change ordering optimization. Due to its time-saving and operational efficiency-improving characteristics, retail cash management enables businesses to migrate from manual cash handling to automated cash management systems. This automates the entire cash handling process, from the point of sale to bank deposit.
Factors Influencing Market Growth
During the COVID-19 pandemic, there were no proper in-store employees available, as well as social distancing and sanitization measures within countries drive the global market.
The increased maintenance costs of cash management solutions may slow down the overall market growth.
The rise in technological advancements such as big data and machine learning are forecast to offer lucrative opportunities for the global market during the forecast period.
Impact Analysis of COVID-19
The COVID-19 pandemic had a significant impact on the retail sector. During that time, numerous brick-and-mortar establishments had to stop operating as usual. Additionally, with their contactless nature, effective cash flow management, and time-saving capabilities, many retail sector businesses chose automated cash management solutions due to the lack of in-store employees during the lockdowns. Thus, this factor boosted the growth of the retail cash management market.
Regional Analysis
North America acquired a significant market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the increased concentration of retail cash management solutions and services, vendors drive market growth in the region.
The Asia Pacific region is forecast to have considerable growth during the forecast period. As a result of the rising consumer and retail sectors. In addition, the growing need for enterprise-level connectivity and an increase in demand for liquidity management boost the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global retail cash management market are:
ALVARA Digital Solutions GmbH
Aurionpro Solutions Limited
Giesecke+Devrient GmbH
Glory Global Solutions,
Nucleus Software Exports Ltd.
Oracle Corporation
Sopra Banking Software SA
The Sage Group PLC
Tietoevry
Other Prominent Players
Scope of the Report
The global retail cash management market segmentation focuses on Component, Application, Deployment Mode, Enterprise Size, and Region.
Segmentation based on Component
Solution
Service
Segmentation based on Application
Balance & Transaction Reporting
Cash Flow Forecasting
Corporate Liquidity Management
Payables & Receivables
Others
Segmentation based on Deployment Mode
On-Premise
Cloud
Segmentation based on Enterprise Size
Large Enterprises
Small and Medium-Sized Enterprises
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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