One of the top challenges that the vending and many self service industries have continued to face in 2020 is the threat of counterfeit money use.
Unfortunately, it has only continued to increase because of the unscrupulous people continuing to search for ways to get free food or beverages from vending machines without using real currency.
Projected Growth By 2027 – USD 4.99 Billion
Thanks to recent data from verifiedmarketresearch.com, we know that the counterfeit money detection market was valued at USD 3.06 billion in 2019 and is expected to grow to USD 4.99 billion by 2027 (6.8% CAGR).
What’s driving the growth?
There are more ways for consumers to pay than ever before including vending, POS terminals, gaming machines, self-checkout machines, vehicle parking machines, and automatic fare collection machines.