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Improving Economic Conditions to Drive the Global Banknote Market
Date: 2 May 2018

Banknote is a promissory note, made by a bank, which is payable to the bearer on demand. It is also known as a ‘bill’ or a ‘note’. Historically, the banknotes were issued by the commercial bank but now, the production and distribution of new banknotes, and destruction of the unfit banknotes is the responsibility of the central bank of the respective countries. One of the crucial responsibilities of the national banks is to ensure the adequate confidence of the citizens in their nation’s currency. A country’s monetary policy serves the purpose of designing strategies related to money supply in the economy. It is also a noteworthy fact that the banknote industry influences trade between countries. Despite the ever growing technical world of cheques, cards, electronic payment; people’s reliability on cash has still not placated. Although, it is anticipated that currency as a means of exchange will become obsolete but cash usage will continue to remain strong in the near future.

 

The global banknote market is highly dominated by production of banknotes with security threads. In terms of geographical areas, the U.S. and Eurozone are major contributors to the global banknote market supported by their economies and high production volumes and values.

 

The global banknote market is expected to grow in future due to improving economic conditions, rising global population and growing number of ATMs. Key trends of this market include high proportion of cash payments and adoption of polymer banknotes. However, there are some factors which can hinder the market growth including counterfeiting of banknotes and increasing adoption of mobile payments.

 

The report “Global Banknote Market Report: 2018 Edition” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the U.S., Eurozone, Australia, Switzerland, New Zealand, the UK along with the global market. The report profiles the key players of the market including De La Rue Plc, Fortress Global Enterprises and Giesecke & Devrient Group.

 

 
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