DUBLIN, June 14, 2023 /PRNewswire/ — The “Global Cash Logistics Market Factbook (2023 Edition): Analysis By Service (Cash Management, Cash-in-Transit, ATM Services), Mode of Transport, End-Users, By Region, By Country: Market Insights and Forecast (2018-2028)” report has been added to ResearchAndMarkets.com’s offering.
The Global Cash Logistics Market is expected to generate USD 30612.77 million by the end of 2028, up from USD 21053.89 million in 2022. During the forecast period, 2023-2028, Global Cash Logistics is expected to expand at a CAGR of 6.52%.
The research report provides a complete analysis with historical period data for 2018-2022, estimates of 2023 and forecasts 2024-2028
Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.
The research report also assesses growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution. The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
A favourable growth element for the global Cash Logistics market is the increasing number of bank branches in the Americas and other regions across the world. Services related to the management of cash such as cash-in-transit, smart ATMs, safe, and automatic vaults persuade Banks, Government agencies, and others to implement the services. The growing population, as well as the growing urbanization rate, are driving up the Cash Logistics market.
Rising tourism, an increase in the number of innovations in the banking sector, the expansion of cash management services offerings, and the demand for automatic vaults are key drivers driving the overall market growth.
The Americas, comprising North, Central, Latin and South America, represents a significant market for cash logistics services. The market size is influenced by the size of the economy, population, and the level of cash usage in the country within the region. Cash recirculation initiatives aim to optimize the use of cash, reduce costs, and improve the overall efficiency of cash management. Such initiatives involve central banks, financial institutions, and cash logistics providers working together to ensure the availability of secure, and efficient cash supply.
The major factor driving the growth of the Cash Logistics market is the increasing demand for smart ATMs to be implemented in bank branches. Furthermore, the rising demand for automated devices such as Automatic vaults, cash-in-transit vehicles, etc. is the governing factor for automated safes & vaults.
The rising demand for safety vaults, locks and safes from the banking sector for cash storage and other critical information. The vaults are bugged with alarm arrays and anti-theft equipment to protect from unwanted external infiltration. Digital electronic vaults have replaced manually operated vaults and have become popular as the inefficiencies of the manual vaults have been eliminated in the digital vaults. Motorized shooting bolts for extra protection, low battery indicators, password protection, and non-volatile memory are a part of digital vaults.
The vault doors, panels, and locks also have emergency ventilators, embedded integrated light switches, and low-cost maintenance. The increased demand for cash management services among banking institutions, commercial entities, government offices, and other organizations from countries such as UAE, Saudi Arabia, North America, and Europe holds the largest share in the global vault services across commercial as well as residential applications. In addition, the number of ATMs worldwide boosts the growth of the banking sector.
Scope of the Report
- The report analyses the Cash Logistics Market by Value (USD Million).
- The report presents the analysis of Cash Logistics Market for the historical period of 2018-2022, the estimated year 2023 and the forecast period of 2024-2028.
- The report analyses the Cash Logistics Market by Service (Cash Management, Cash-in-Transit, ATM Services).
- The report analyses the Cash Logistics Market by Mode of Transport (Roadways, Railways, Airways).
- The report analyses the Cash Logistics Market by End Users (Financial Institutions, Government Agencies, Retailers, Other End Users).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by services, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
The companies analysed in the report include
- XPO
- CH Robinson Worldwide Inc.
- G4S
- GardaWorld
- DHL
- Securitas AB
- FedEx
- UPS Supply Chain Solutions
- SIS Prosegur
- Loomis AB
For more information about this report visit https://www.researchandmarkets.com/r/m291il
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SOURCE Research and Markets
