Fairfield Market Research Cash Logistics Market Size, Share, Growth, Trends 2022-2029

Cash Logistics Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Automotive & Transport

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Rise in Number of ATMs to Drive Cash Logistics Market Growth

The increasing number of ATMs and in-turn the need for efficient cash management is driving cash logistics market enlargement. Customers desire secure, faster, more convenient, and trustworthy means of obtaining cash. As technology advances, encouraging the widespread use of ATMs globally. Improved security measures, such as biometric and one-time password authentication methods to avoid fraud, as well as the introduction of Smart ATMs for users with particular needs, all contribute toward the growth of cash logistics market. Moreover, the rise in demand for automation in the banking sector in a number of established and emerging markets is likely to stimulate demand for ATMs. As per studies, in 2021, there are 41.24 ATMs for every 100,000 adults worldwide which has increased from 40.75 ATMs for every 100,000 adults in 2019. The continuous increase in the number of ATMs worldwide is likely to contribute to the growth of the cash logistics market in the coming years.

The inclusion of increased security measures such as fingerprint, biometrics, and double authentication to technologically advanced ATMs adds an extra security layer, which is believed to assist in minimising fraud, and driving ATM usage. For example, in January 2019, the Reserve Bank of India (RBI) directed Indian banks to phase out magstripe cards in favour of EMV chip cards. The new payment cards provided improved verification and security against scams/fraudulent operations. This factor is likely to boost the confidence of the user, thus promoting the use of ATMs.

Cash-In-Transit Segment Dominates the Market due to Increase in Physical Cash Flow

The cash-in-transit category is predicted to account for a proportionally large revenue share during the forecast period, owing to expanding cash-in-circulation globally and a growing number of cash-in-transit vehicles. The availability of standard and comprehensive cash logistics automation systems has increased their acceptance by cash-in-transit companies around the world, allowing them to streamline cash transport, and complex counting procedures.

Cash-in-transit logistics allows businesses to map the logistics of armoured carriers, provide cash pick-up services to pick up cash from bank vaults and other organisations that handle a huge influx of cash, and provide better security during the processing and transportation of cash. Cash-in-transit logistics solutions ensure the safe movement of assets while also minimising the time and effort required for manual transposition and the requirement for costly in-house risk control procedures. This is leading to an increase in the use of cash-in-transit logistics solutions by financial institutions and government organisations. These main drivers are likely to drive significant revenue to cash logistics market.

North America Acquired Major Share due to Well Established Cash Management Service

North America is expected to account for the largest revenue share in the global cash logistics market over the forecast period because of the availability of reliable and secure end-to-end cash services, the rapid adoption of cash logistics services across various end-use industries and businesses, and the integration of advanced technologies to create more efficient corporate cash management in the region. Other factors expected to contribute to revenue growth in the North American market include increased R&D to develop intelligent cash and device management solutions, rising demand for cash, the introduction of automated and high-end cash-in-transit vehicles, and the robust presence of key companies in the region. The US dominated the cash logistics market within the North America n region.

Cash demand in the United States is expanding in absolute terms relative to GDP, and demand for cash management services is increasing. Native Americans' principal payment option for presents, government activities, food and personal care supplies, auto and vehicle related, and other such activities is cash. As a result, the dominance of cash transactions has led to the expansion of the cash logistics market in the United State of America. According to the Federal Reserve System of the United States, there were US$ 1.87 trillion in Federal Reserve notes in circulation in May 2020. Thus, the market for cash logistics services will propel in the country, which in turn will drive the regional market.

The Asia Pacific market is likely to post a robust revenue CAGR over the forecast period because a major portion of the population is cash-focused. This can be ascribed to a rising requirement for effective cash logistics and management. Many people in nations such as India, China, Vietnam, and Taiwan, among others, require enormous sums of money to buy everyday necessities such as gasoline, food and beverages, groceries, and other large purchases. For instance, in 2021, China's monetary authority, the People's Bank of China, issued more than 9.62 trillion yuan, the most ever issued in a single year. This has generated logistical issues for retail banks, requiring sophisticated planning and the construction of a leaner cash supply chain. Some major factors expected to contribute to revenue growth in this region include a growing focus on minimising costs associated with non-vital tasks such as refilling and transport, the development of an integrated cash supply chain, and an increase in outsourcing of cash replenishment, and maintenance.

Global Cash Logistics Market: Competitive Landscape

In February 2022, Drip Capital, a cross-border digital trade financing platform, established a strategic agreement with CARGOES Finance by DP World, a platform that provides SMEs with easy access to working capital. Drip Capital offers collateral-free lending options for SMEs engaged in cross-border trade, allowing them to better manage their cash flow. To make international trading easier for SMEs, the fintech firm works with industry enablers across the value chain. The CARGOES Finance Platform promotes lender-borrower interactions globally, and this collaboration is expected to help cash-strapped SMEs find access to trade financing by connecting them to Drip Capital. For instance, in March 2021, Baring Private Equity Asia revealed its intention to depart CMS Info Systems, India's largest cash logistics company, which it purchased five years ago. The Hong Kong-based buyout group owns all of CMS Info Systems and is in talks with JP Morgan and other investment banks about launching a formal sale process.

Few of the players in the cash logistics market include Cash Logistics Security AG, CMS, GardaWorld, GSL, GSLS, G4S, Lemuir Group, Loomis AB, Prosegur, and The Brink’s Company.

Global Cash Logistics Market is Segmented as Below:

By Service

  • Cash Management
  • Cash-In-Transit
  • ATM Services

By End-User

  • Financial Institutions
  • Retailers
  • Government Agencies
  • Hospitality
  • Others

By Mode of Transit

  • Roadways
  • Railways
  • Airways

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Cash Logistics Market

  • Cash Logistics Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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