The growth of the global secure logistics market is driven by increase in the demand for outsourcing branch and ATM service and increase in the demand for product integrity
NEW CASTLE, Del., Oct. 17, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Secure logistics Market by Application (Cash management, Diamonds, Jewelry & Precious Metal, Manufacturing, Others), by Type (Static, Mobile), by mode of transport (Roadways, Railways, and Airways), by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global secure logistics market was valued at $87.1 billion in 2022, and is projected to reach $191.9 billion by 2032, registering a CAGR of 8.4% from 2023 to 2032.
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Logistics has an essential role to play in every industry as it helps in the distribution of packaged goods to their final destination. Secure logistics are used for the distribution of products having high value such as cash logistics, diamonds & gemstones, advanced, and sophisticated technology.
Leading Market Players in Secure Logistics Industry: –
- Allied Universal
- Brink’s incorporated
- CargoGuard
- CMS Info Systems
- PlanITROI, Inc.
- GardaWorld
- Lemuir Group
- Prosegur
- Securitas AB
- Secure Logistics LLC.
The report provides a detailed analysis of these key players in the global secure logistics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Prime determinants of growth
Increase in the demand for outsourcing branch and ATM service and increase in the demand for product integrity drive the growth of the global secure logistics market. However, increase in the usage of electronic payment and high cost involved in services, restricts the market growth. Moreover, securing last mile delivery across developed and developing economies presents new opportunities in the coming years.
Secure Logistics Industry Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$87.1 billion |
|
Market Size in 2032 |
$191.9 billion |
|
CAGR |
8.4 % |
|
No. of Pages in Report |
252 |
|
Segments covered |
Application, Type, Mode of Transport, and Region. |
|
Drivers |
Increase in the demand for outsourcing branch and ATM service Increase in the demand for product integrity |
|
Opportunities |
Securing last mile delivery Integration of cyber security in secure logistics |
|
Restraints |
Increase in the usage of electronic payment High cost involved in service |
The cash management segment to maintain its leadership status throughout the forecast period
Based on application, the cash management segment held the largest market share in 2022. However, jewelry & precious metal segment is projected to manifest the highest CAGR of 9.8% from 2023 to 2032, owing to the rise of safety standards and equipment adopted by the secure logistics firms. Thus, creating confidence in the client and assures the safety of the gemstones and jewelry.
The static segment to maintain its leadership status throughout the forecast period
Based on type, the static segment held the largest market share in 2022, accounting for nearly two-thirds of the global secure logistics market revenue. However, mobile is projected to manifest the highest CAGR of 9.8% from 2023 to 2032, owing to secure mobility offered by the segment. The normal vehicles are not utilized, instead armored vehicles with advanced security systems are used for transportation. Similarly, air cargo services are also offered in the mobile logistics solutions where the precious cargo is shipped with the help of an aircraft. The goods are transported to the longer distances in less time and movement to international locations is also viable.
The roadways segment to maintain its lead position during the forecast period
Based on mode of transport, the roadways segment accounted for the largest share in 2022, contributing to nearly half of the global secure logistics market revenue. However, railways are projected to manifest the highest CAGR of 9.4% from 2023 to 2032, owing to dedicated and controlled tracks of the railways that can be easily tracked with the integration of GPS tracking and monitoring system. The bulk movement of the cargo or package reduces the overall cost of movement and in many cases can be more cost effective than the road transport of the package. Such capability of the railways is expected to boost the growth of the market.
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North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022. However, Asia-Pacific is projected to manifest the highest CAGR of 10.5% from 2023 to 2032, owing to heavy investment on the rail network or freight corridor for the movement of goods and packages in the Asia- Pacific region. For instance, in June 2022 the Indian government invested $245 million to improve the railways infrastructure. Similarly, China is also developing rail network across middle-east and to the Europe, and signed a trilateral memorandum of understanding between Kazakhstan’s authorized economic operators, China, and the EU. These developments are expected to drive the growth of secure logistics market in the Asia-Pacific region.
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