Cash Logistics Market Expected Massive Growth Forecast $33.28 Billion by 2030

The global Cash Logistics Market was valued at $16.83 billion in 2020, and is projected to reach $33.28 billion by 2030, registering a CAGR of 6.9% from 2021 to 2030. Increase in circulation of cash, surge in demand for safe and vault for cash management, and rise in deployment of ATMs drive the growth of the global cash logistics market. On the other hand, surge in the incidence of cash-in-transit vehicle robberies and growing adoption of digital money impede the growth to some extent. However, emergence of fully automated cash-in-transit vehicles is expected to create lucrative opportunities in the industry.

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The cash logistics industry deals with the physical movement & storage of currency notes and other valuables on behalf of the banks. It mainly consists of cash management & security solutions such as cash-in-transit, cash management services, ATM replenishment & services, money processing, vault outsourcing, international transportation of valuables, intelligent safe services, and payment services. The locations include cash centers & bank branches, ATM points, large retailers, and other premises. At present, many cash logistics service providers implement cash management solutions such as smart safes, automation to reduce risk, real-time access to reporting data & account information, and streamlined processes to increase operational efficiency & transparency. Furthermore, advantages such as robust deployment process, strategic partnership, efficient project management, and others are also provided by cash logistics companies.

Based service type, the cash management segment accounted for more than two-fifths of the global cash logistics market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also cite the fastest CAGR of 7.7% throughout the forecast period, owing to rise in demand for cash management activities across different institutions.

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The cash logistics market has witnessed significant growth over the years, owing to an increase in cash circulations despite digital currency in the developing regions. The companies that operate in the market have adopted collaboration, cooperation, partnership, product launch, R&D, and acquisition to increase their market share and expand their geographical presence. In 2018, Loomis AB & Sonet entered into a global partnership to offer advanced digital solutions to customers and build a bridge between physical & digital payments. Furthermore, Prosegur has acquired Logmais in Brazil, a banking correspondent company, to enhance new services for clients in Brazil that is expected to reinforce the company's position as a payment solutions provider with the guarantee of a solid, agile, and efficient presence throughout the Brazilian territory.

The key players profiled in this report include

CMS
GardaWorld
GSL
GSLS
Lemuir Group
The Brink's Company
Cash Logistics Security AG
Loomis AB
G4S
Prosegur

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Factors such as growth in the circulation of cash, rise in the demand for safe & vault for cash management, and increase in the deployment of ATMs supplement the market's growth across the globe. However, factors such as increase in cash-in-transit vehicle robberies and rise in the adoption of digital money hamper the market's growth around the world. Moreover, factors such as production of fully automated cash-in-transit vehicle and rise in cash demand from emerging economies create ample opportunities for the market's growth during the forecast period.

Based on mode of transit, the roadways segment held 94% of the global cash logistics market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also manifest the fastest CAGR of 7.0% from 2020 to 2030. This is attributed to the fact that most of the key players operating in the market are utilizing armored vehicles as the mode of transit for cash.

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Regional Analysis:

Based on region, Europe, followed by North America, held the major share in 2020, generating more than one-fourth of the global cash logistics market. LAMEA, however, would grow at the fastest CAGR of 8.1% by 2030. This is due to the increased demand for cash based transaction across African countries that have lower in internet penetration rate.

The cash logistics market report is segmented into service type, end-user, mode of transit, and region. Depending on service type, the global market has been segmented into cash management, cash-in-transit, and ATM services. By end-user, the global market has been segmented into financial institutions, retailers, government agencies, hospitality, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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