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Cash Logistics Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033
Cash Logistics Market Share
Cash Logistics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $31.34 billion In 2028 At A CAGR Of 8.9% :
The cash logistics market size has grown strongly in recent years. It will grow from $20.53 billion in 2023 to $22.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in the deployment of atms, and a rise in the circulation of currency in the economy.
The cash logistics market size is expected to see strong growth in the next few years. It will grow to $31.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to a rise in the cash-on-delivery (cod) method of payment, an increasing population, and an increase in funding. Major trends in the forecast period include use of artificial intelligence in cash management, technological advancements, and strategic partnerships and collaborations.
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Cash Logistics Market Major Segments
The cash logistics market covered in this report is segmented -
1) By Service: Cash Management, Cash-In-Transit, ATM Services
2) By Mode Of Transit: Roadways, Railways, Airways, Waterways
3) By End-User: Financial Institutions, Retailers, Government Agencies, Hospitality, Other End Users
Key Driver - Atm Expansion Fuels Growth In The Cash Logistics Market
The rise in the deployment of ATMs is expected to propel the growth of the cash logistics market going forward. An ATM stands for automated teller machine. It is a financial transaction machine and an automatic banking platform that doesn't require a teller or a human cashier for the circulation of physical cash. The process of collecting, managing, and depositing cash at an ATM, which is outsourced by banks to users, is known as cash logistics. For instance, according to the Reserve Bank of India, in India, there were 213,575 bank ATMs in March 2021, which was 1.3% up from March 2020. Therefore, the rising development of ATMs is driving the growth of the cash logistics market.
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Prominent Trend - Transformative Impact Of Mobile Atms In India's Cash Logistics Market
The introduction of mobile ATMs is a key trend gaining popularity in the cash logistics market. Major companies operating in the cash logistics market are focused on introducing mobile ATMs to meet consumer demand and strengthen their position. For instance, in May 2021, in India, HDFC Bank, an Indian banking and financial services company deployed mobile Automated Teller Machines (ATMs) to help clients and provide innovative services. Mobile ATMs would eliminate the need for people to withdraw cash in limited or sealed locations. Also, in 2021, HDFC Bank has implemented mobile ATMs in approximately 50 cities in India. Bengaluru is the bank's 25th city to receive Mobile ATMs in 2021. Customers can complete over 15 different sorts of transactions using the mobile ATM, which will be available for a limited time at each location.
Cash Logistics Market Players
Major companies operating in the cash logistics market report are The Brink's Company, Loomis AB, Prosegur Compania de Seguridad SA, Allied Universal, GardaWorld, CMS Info Systems Ltd, Security and Intelligence Services Ltd., General Secure Logistics Services (GSLS), AXIOM Armored, Global Security Logistic Co, Writer Corporation, Securevalue, Radiant Cash, CEVA Logistics, Fujitsu Frontech Ltd, Hitachi-Omron Terminal Solutions Corporation, Nautilus Hyosung Corporation, Deppon Logistics, FloatApp, Akoni, G4S Plc, Fennech Financial Limited, NoviCap, Intellifas Ltd, Cash Logistics Security AG, Waves Enterprise, BCS World of Investments, UBS Russia, Sberbank, ATON, Viking Cash Logistics, Cosan Group, Green Cash Logistics, Carlyle Group, Rapyd, Giesecke +Devrient, Massar Group, Sanid, APSG, Eraf Group, Alrajhi Bank, Absa Group, SkyQuest Technology, Uni24.co.za, CITASA, Kazang Connect, SBV Services, Umnotho cash Management
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the cash logistics market in 2023. The regions covered in the cash logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cash Logistics Market Report Structure
3. Cash Logistics Market Trends And Strategies
4. Cash Logistics Market - Macro Economic Scenario
5. Cash Logistics Market Size And Growth
…..
27. Cash Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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