Cash Logistics Market Expected to Reach $30,707.7 Million, Globally, By Top Key Players: The Brinks Company, Cash Logistics Security AG, CMS Info Systems Ltd., G4S plc., Garda World Security Corporation, Global Security Logistics Co, GSLS, Lemuir Group, L
Based on service, the cash-in-transit segment dominated the global cash logistics market in 2017, in terms of revenue. In addition, based on end-user, the financial institutions segment is expected to lead the market throughout the forecast period. Presently, LAMEA is the highest revenue contributor, and is expected to garner highest revenue in the global market during the forecast period, followed by North America, Europe, and Asia-Pacific.
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Increase in cash transactions, surge in presence of ATMs, and growth in demand for safe & vault for managing cash drive the growth of the global cash logistics market. However, increase in adoption of digital payments and rise in cash-in-transit robberies restrain the market growth. On the other hand, increase in demand for cash from emerging economies and surge in manufacturing of fully automated cash-in-transit vehicles would create new opportunities to the market.
Cash-in-transit service segment contributed more than two-fifths of the total market revenue in 2017 and is expected to maintain its dominance by 2025. This is attributed to the increasing adoption of new technologies by market players to foster safety and security of cash-in-transit vehicles. However, cash management service is expected to register the highest CAGR of 9.4% from 2018 to 2025, owing to incorporation of innovative cash management services by leading banks to handle cash and offer convenience to clients. The report also analyzes ATM services segment.
Financial institutions segment held the major share in 2017, accounting for more than two-fifths of the total market revenue and is projected to maintain its dominance throughout the forecast period. This is due to the increasing adoption of cash logistics solutions among financial institutions on account of advantages such as optimal cash flow, improved transparency, and customization of solutions among others. However, the other end user segment, which comprises individuals, private firms, and others, would grow at the fastest CAGR of 9.0% from 2018 to 2025, owing to surge in cash flow and increase in demand for safe and vault for cash management.
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Asia-Pacific is expected to grow at the highest CAGR of 10.3% from 2018 to 2025, owing to expansion of banking facilities in emerging economies such as India, China, and others and increase in cash circulation. However, LAMEA accounted for nearly three-tenths of the total market share in 2017 and would maintain its lion's share through 2025 due to increase in demand for cash flow and high security threat for transportation of cash.
The key players analyzed in the report include The Brink's Company, CMS Info Systems Ltd., Cash Logistics Security AG, Garda World Security Corporation, G4S Plc., GSLS, Lemuir Group, Global Security Logistics Co., Loomis, and Prosegur Cash, S.A.
Cash logistics companies provide services related to cash transportation, cash handling, and ATM related services. Services such as cash-in-transit, cash management, and ATM replenishment, are mainly provided by the companies. Cash logistics companies need to follow security and transportation legislation, as they are considered as logistics companies in the private security industry. In some countries, cash logistics have separate legislations that can impose restriction and requirement on use of vehicle type, crew members, firearms, and others. Cash logistics solutions help financial institutions to track cash ordering information about variety of sources such as ATMs, Central Bank, commercial customers, and others.
Circulation of cash, rise in demand for safe and vault for cash management, and increase in deployment of ATMs are the key factors that fuel the growth of the global cash logistics market. However, increase in cash-in-transit vehicle robberies and rise in adoption of digital money hinder the market growth.
Among the analyzed geographical regions, currently, LAMEA is the highest revenue contributor, and is expected to maintain the lead during the forecast period, followed by Europe, North America, and Asia-Pacific.
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