Cash Logistics Industry Overview
The global cash logistics market size was valued at USD 23.03 billion in 2021 and is expected to expand at a CAGR of 8.2% from 2022 to 2030 as there is an alarming need for safety in cash handling practices. Factors such as the growing cash transactions, rise in the demand for the presence of ATMs, and surge in demand for the cash vaults are the major factors boosting the global logistics market. Additionally, an increase in the number of ATMs by banks in the urban as well as the rural areas to offer better services to the customer is also expected to create lucrative growth opportunities for the market over the forecast period. Subsequently, the cash needs to be moved periodically, and hence its safe and reliable transportation is of huge concern. Therefore, automated processes play a significant role in resolving challenges in logistics.
Companies are developing Al-based ATM security software to increase accuracy in cash replenishment services. At the same time, organizations are developing intelligent vaults for cash management solutions for improved efficiency and security. For instance, in January 2020, NatWest, in partnership with G4S, a cash management company, launched an intelligent vault to enhance the cash management process for businesses.
Gather more insights about the market drivers, restraints and growth of the Global Cash Logistics Market
Customers worldwide prefer cash as a payment option owing to the convenience factor. With the technological advancements, customers are seeking reliable, faster, secure, and convenient means of accessing cash. Moreover, improved security measures, including one-time password authentication and biometric systems to prevent fraud, and the advent of Smart ATMs for users with special needs are propelling the growth of the market. The increase in demand for automation in the banking sector of several developed and emerging countries is expected to fuel the deployment of ATMs.
Several market players are focusing on integrating Artificial Intelligence (AI), biometric technology, and IoT to offer a seamless payment experience. For instance, in July 2021, CaixaBank, a financial technology company, introduced facial recognition technology in ATMs, which eliminated the need for the customer to enter the pin. CaixaBank facial recognition technology uses 16,000 different security points on the image of the face to ensure 100% accurate identification. CaixaBank is also planning to deploy the ATMs in the coming days.
Major opportunities such as the development of technological infrastructure to maintain transparency during cash handling operations are creating immense opportunities. On the contrary, security threats such as theft and robbery during transit operations have created major security challenges for these companies. In addition, high overheads occur in maintaining an efficient logistical process throughout a financial year. In another scenario, the complex nature of compliance and regulations coupled with the increasing adoption of digital money is more likely to hinder the market growth.
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Cash Logistics Market Segmentation
Grand View Research has segmented the global cash logistics market based on services, end use, and region.
Cash Logistics Service Outlook (Revenue, USD Billion, 2017 - 2030)
- ATM Services
- Cash-in-transit
- Cash management
- Others
Cash Logistics End Use Outlook (Revenue, USD Billion, 2017 - 2030)
- Financial Institutions
- Government Agencies
- Retail
- Others
Cash Logistics Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East Africa)
Market Share Insights:
- April 2021: Brink's Company, a cash management solution company, announced the acquisition of PAI, Inc., a U.S.-based privately-owned ATM services provider, for USD 213 million to expand its reach in the U.S.
Key Companies profiled:
Some prominent players operating in the cash logistics market include:
- Brink's Incorporated
- Cash Logistik Security AG
- CMS Info Systems Ltd.
- G4S Limited
- GardaWorld
- Global Security Logistic Co.
- Security and Intelligence Services Ltd.
- Loomis AB
- Prosegur
- Cash in Transit Solutions Pty Ltd
Order a free sample PDF of the Cash Logistics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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