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Cash Logistics Market Trends, Size, Share, Forecast 2024-2033
Cash Logistics Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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