Published on : May 23, 2017
Albany, New York, May 23, 2017: The global cash logistics market is expanding at a strong CAGR, a trend which is unlikely to change in the coming years. Growth is witnessed in both organic and inorganic segments of cash logistics. Providing deeper insights into the factors pumping growth in the global cash logistics market, ResearchMoz.us has added a new report. It is titled “Global Cash Logistics Market Size, Status and Forecast 2022” and is available for sale on the company website. The report provides an in-depth analysis of the global cash logistics market, substantiated with decisive data obtained from trusted industrial sources.
The rising demand for safer cash management is the chief driver of the global cash logistics market. The banking sector is currently witnessing surged demand for safety vaults as consumers look for safer alternatives of keeping cash and other valuable items. Considering the purpose these safety systems serve, the rising disposable income of consumers will positively fuel their demand. Also, the advent of advanced electronic safes with non-volatile memory, extra protection, password protected locks, and low battery indicators will give the market significant impetus.
A crucial trend, which will help market gain increased traction, is the growing demand for ATMs. As cash withdrawals for ATMs become one of the most common and trusted methods of transacting, more number of banks and financial institutions will invest in reducing the operational risks commonly associated with ATMs. Hence a considerable number of financial institutions have started outsourcing their cash management operations related to ATMs to third-party logistics firms. This in turn will boost the global cash logistics market.
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Based on service type, the global cash logistics market can be segmented into cash management, cash-in-transit, and ATM services. Of these, the cash-in-transit segment recorded high growth during 2016 and is expected to continue reporting strong growth until 2022. Cash-in-transit comprises securely transporting new currency, bullion, and coins for central banks. Since services offered by the segment is focused on minimizing risks associated with cash transfer, cash-in-transit is expected to remain the leading service provided in the cash logistics market.
Regionally, Europe exhibited considerably high demand for cash logistics in the year 2016. While Europe will remain one of the key contributors to the revenue generated, the market will witness lucrative prospects across North America and Asia Pacific as well. The expanding banking sector across emerging nations, and initiatives adopted by governments to boost security are expected to fuel the demand for cash logistics in Asia Pacific.
Given the strong growth witnessed in the past few years, the global cash logistics market has attracted an increasing number of players. This has rendered the market highly competitive. Besides this, the presence of regional vendors has made the competition fiercer in the global cash logistics market. Therefore in order to expand their geographic footprint, the international players are keen on forging merger and acquisition with regional companies. Furthermore, the expansion strategy can help the market players expand their product portfolio, besides increasing their market share.
To study the competition prevailing in the market in detail, the report profiles companies such as G4S, Loomis, Brink’s, Prosegur, and Loomis.
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