NEW
YORK, July 10, 2024 /PRNewswire/ -- The
global cash logistics market size is estimated to grow by
USD 24 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 10.86% during the forecast
period. Technological advancements in cash logistics are
enhancing efficiency and security in the industry. Innovations
include advanced ATM technologies for secure cash dispensing, smart
safes with real-time monitoring capabilities, and GPS-enabled
tracking systems for precise cash transportation. These
advancements support the growing preference for outsourced cash
management services by financial institutions, despite challenges
posed by increasing plastic money and online transactions. Key
players such as AGS Transact Technologies Ltd., Loomis AB, and
Prosegur Compania de Seguridad SA are at the forefront, leveraging
technology to meet evolving market demands and ensure robust cash
security solutions.
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Cash Logistics
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
10.86%
|
Market growth
2024-2028
|
USD 24
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
9.55
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
29%
|
Key
countries
|
US, China, India,
Germany, and UK
|
Key companies
profiled
|
AGS Transact
Technologies Ltd., Allied Universal, AXIOM Armored, CMS Info
Systems Ltd., GardaWorld Security Corp., Global Security Logistics
Co., GSLS, Knightguard Protection Services Pty Ltd., Linfox
Pty Ltd., Loomis AB, Prosegur Compania de Seguridad SA, Radiant
Cash Management Services, SecureCash, SIS Ltd., The Brinks Co.,
Titan Armored Inc., TRABLISA, Transguard Group LLC, Writer Business
Services Pvt. Ltd., and ZIEMANN SECURITY Holding GmbH
|
Market Driver
The demand for automatic cash recycling in ATMs, automated
teller safes, and self-service cash recycling machines is growing
as financial institutions seek to enhance revenue growth, improve
customer service, and optimize costs. In traditional banking,
tellers manage cash levels, requiring labor costs for tellers and
supervisors, as well as opportunity costs for keeping large cash
reserves in ATMs. Cash recycling systems, which function like a
vault between two tellers but with advanced cash management
technology, help financial institutions streamline operations at a
lower cost. This system eliminates the need for tellers and vaults
to manage cash balances, increasing efficiency by approximately 90%
and reducing expenses. With the COVID-19 pandemic, cash recycling
has become even more crucial for minimizing cash touchpoints. As a
result, the global ATM market and cash logistics market are
experiencing significant growth due to the increasing demand for
cash recycling systems.
Cash logistics is a crucial aspect of the banking sector,
involving the transportation, handling, and management of physical
cash. Key trends include cash-in-transit services, ATM
replenishment, and cash center operations. Cash flows between bank
branches, ATMs, and points require secure and efficient movement.
Digital money is on the rise, but currency circulation continues to
demand safe and reliable cash logistics. Safety is paramount, with
safety vaults, digital electronic vaults, and motorized shooting
bolts used to secure valuable assets. However, hazards like cash
logistics agencies robberies, motorized shooting bolt thefts, and
cash-in-transit vehicle robberies pose risks. Companies like
CompuSafe use advanced technology to mitigate these hazards. Cash
logistics companies handle cash payments and cash movement for
various economies, including shops, wholesalers, raw materials
suppliers, and exchange businesses. Location, cash processing, and
currency management are essential components of cash logistics.
Cash logistics services ensure the smooth circulation of cash,
enabling customers to make payments and access their funds at
ATMs.
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Market Challenges
• The use of
payment methods other than cash, such as credit cards, debit cards,
stored-value cards, online purchases, and mobile payments, is
increasing. These options enable convenient financial transactions
without the need to carry cash. Plastic money offers benefits like
anywhere, anytime banking. This trend could lead to less cash usage
at marketplaces and a decrease in the need for physical retail
stores and bank branches. Banks provide smart cards and net banking
options to reduce customers' cash dependency. The e-commerce
industry's growth is due to the rise in online transactions. In
supermarkets and hypermarkets, smart card reader machines offer
plastic money payment options. The availability and use of
electronic payment infrastructure and methods are growing, posing a
significant challenge to the cash logistics market's expansion in
the coming years.
• Cash logistics
is a critical business sector involving the handling,
transportation, and processing of physical cash. However, it comes
with its own set of challenges. Cash-in-transit vehicle robberies
remain a significant hazard, with motorized shooting bolts and
CompuSafe being common tools used by robbers. Cash logistics
agencies must ensure the safety of precious assets during cash
movement, mitigating public exposure. Location is crucial for cash
processing and currency management, with cashiers and ATMs playing
key roles in customer satisfaction. Economies rely heavily on cash
payments, especially in shops, wholesalers, and raw materials
suppliers. Cash logistics companies face challenges in handling and
transporting cash in a secure manner, especially in high-risk
regions. Technological improvements, such as electronic payment
methods and digital payment solutions, are increasingly popular,
but physical cash remains a significant part of the economy.
Financial service providers must adapt to meet customer demands
while ensuring security. Internet banking and smartphones have
revolutionized cash transactions, but cash logistics companies must
stay ahead of the curve to maintain client satisfaction.
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challenges - Request a sample report!
Segment Overview
This cash logistics market report extensively covers market
segmentation by
- End-user
- 1.1 Financial institutions
- 1.2 Retailers
- 1.3 Government agencies
- 1.4 Others
- Service
- 2.1 Cash-in-transit
- 2.2 Cash management
- 2.3 ATM service
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Financial institutions- The financial
institutions segment is a significant contributor to the global
cash logistics market. This segment includes banks, credit unions,
and other financial service providers that handle substantial cash
transactions. These institutions require secure and dependable
transportation of cash to and from their branches, ATMs, and other
locations. Cash logistics companies cater to these needs, offering
services such as cash pickup, transportation, counting, sorting,
and delivery. Banks, with their vast network of ATMs and branches,
are the primary customers of cash logistics companies. For
instance, Bank of America, with over 16,000 ATMs in the US, relies
on cash logistics providers for cash refilling. Credit unions, with
their growing number of branches, also require secure
transportation of cash between locations. For example, Navy Federal
Credit Union, the largest credit union in the US, has over 340
branches. Other financial services providers, including
check-cashing businesses and payday lenders, also need secure cash
transportation due to their high cash volumes. Consequently, the
financial institutions segment will continue to drive the growth of
the global cash logistics market during the forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
Cash logistics refers to the secure transportation and
management of cash and valuable assets. It involves various
services such as Cash-in-Transit, ATM replenishment, cash centers,
and bank branch cash handling. Cash flows through cash logistics
networks, moving from cash centers and bank branches to ATMs and
other points of sale. Valuable transport plays a crucial role in
cash logistics, ensuring the safety of cash during transit using
safety vaults and trained personnel. Currency circulation is a
significant aspect of cash logistics, with cash demand constantly
changing. Digital money and ATMs have transformed the landscape,
requiring efficient cash processing and currency management. Cash
logistics also involves handling hazards such as public exposure
and the risk of theft or robbery. Cash processing services,
currency management, and cashiers play essential roles in ensuring
the smooth functioning of cash logistics systems.
Market Research Overview
Cash logistics refers to the secure transportation and
management of physical cash and valuable assets. This essential
service includes Cash-in-Transit (CIT), cash centers, ATM
replenishment services, and bank branch cash handling. Cash flows
through various channels such as ATMs, bank branches, and retail
outlets, requiring constant circulation and replenishment. Safety
vaults and digital electronic vaults ensure the security of cash
and precious assets. Cash logistics agencies face hazards like cash
robberies, which have led to the use of motorized shooting bolts
and advanced security measures. Companies like CompuSafe provide
advanced cash processing and currency management solutions. The
banking sector continues to evolve, with technological improvements
like motorized shooting bolts, digital money, and electronic
payment methods gaining popularity among internet users and
financial service providers. Cash movement involves handling and
transportation, requiring careful planning and location-specific
strategies. Cash logistics companies prioritize client
satisfaction, ensuring secure and efficient cash processing and
currency management for economies, shops, wholesalers, raw
materials suppliers, and exchange services in various economic
regions. Cash payment remains a significant part of the financial
ecosystem, with cash logistics agencies playing a crucial role in
its circulation and security.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Financial Institutions
- Retailers
- Government Agencies
- Others
- Service
-
- Cash-in-transit
- Cash Management
- ATM Service
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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