Market Snapshot:
Cash logistics basically means physical movement of cash from one location to another. These services will include ATM services, armored cash transportation and management services, and transportation of valuables. The financial institutions involved in these cash logistics will require secure services for management and movement of cash. The whole procedure involves physical movements of banknotes, coins, credit cards, & items of value from one location to another. The locations include bulk cash junctions, bank branches, ATM vestibules, large retailers, ticket vending machines, & parking meters. Growth of the global banknote market and Cash payment still remains the preferred mode of retail payment in many developing countries that will fuel the market of cash logistics. Due to security concerns associated with the digital payments people still need hard cash for their day-to-day transactions. On the other hand, digitization in every sector is spreading very fast that may hamper the market growth. Additionally, several government authorities are switching to digital payments to reduce corruption and administration costs, will be the biggest restrain for the markets.
Highlights from Cash Logistics Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are G4S plc (United Kingdom), GardaWorld (Canada), Loomis (Sweden), Prosegur (Spain), Cash Logistik Security AG (Germany), CMS Info Systems Ltd (India) and Global Security Logistics Co. (Egypt). Additionally, other players that are part of this comprehensive study are Lemuir Secure Logistics (India), Brinks (United States) and General Secure Logistics Services (Ireland).
Geographic Breakdown and Segment Analysis
The Global Cash Logistics market presents a comprehensive analysis of the Cash Logistics market by product type (Cash-In-Transit, Cash Management, ATM Services and Other), by end-user/application (Personal, Enterprise, Government and Other), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Cash Logistics industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Cash Logistics market
Analyst at AMA have segmented the market study of Global Cash Logistics market by Type, Application and Region.
Influencing Trend:
Numerous government authorities are switching to digital payments to reduce corruption and Advanced technologies for offerings extra secure logistics solutions
Market Growth Drivers:
Hard cash payment are still preferred mode of retail payment and Rising security concerns about losing their money due to digital banking
Challenges:
Increasing security risks
Restraints:
Rising digitization across the world and Extra offers are allotted for digital payments
Opportunities:
People in developing countries still use cash for retail payments and Expanding global financial inclusion
Market Developments Activities:
In June 2023, Prosegur has announced the partnership with Microsoft Partner for Digital Transformation a leading global security company, this partnership will leverage Microsoft's cloud computing and artificial intelligence (AI) technologies to enhance Prosegur's security and cash logistics operations, improve customer experiences, and drive innovation.
In July 2023, Prosegur Launches Autonomous Mobile Robots for Cash Management a leading cash logistics provider, introduced autonomous mobile robots (AMRs) for cash management tasks, enhancing efficiency and reducing human error.
The Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make technical up-gradations in the product.
Key Target Audience
System manufacturer, Sub-component manufacturer, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations