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Counterfeit money detection to be worth $3.11 billion

The counterfeit money detection market will be worth $3.11 billion by 2020 and grow at a compound-annual-growth-rate of 6.9 percent.

February 12, 2016

The counterfeit money detection market will be worth $3.11 billion by 2020 and grow at a compound-annual-growth-rate of 6.9 percent, according to a report entitled, "Counterfeit Money Detection Market by Product (Currency Detector, Currency Sorter, & Others), Technology (Ultraviolet, Infrared, & Others), Industry (Retail, Gaming, & Others), End-Device (Kiosk & Others), and Geography - Global Forecast to 2020."

Retail is a particularly vulnerable market for counterfeiting due to the sheer volume of cash transactions and inefficient security protocols. Thus, many retailers use counterfeit money detectors, which are built with ultraviolet, infrared, watermark, microprint and other technologies to detect counterfeited cash, according to the press release. Other devices such as kiosks also use counterfeit money detectors.

The Asia-Pacific market is expected to grow at the highest CAGR of 8.4 percent from 2015 to 2020, due to new counterfeiting laws and initiatives. The report also examines current market conditions, opportunities, threats and market segmentations globally.

The report is available for download here: http://www.marketsandmarkets.com/Market-Reports/counterfeit-money-detection-market-199201518.html.