Published on : May 15, 2017
Albany, New York, May 15, 2017: The research report offers an exhaustive outlook of the dynamics that are controlling the changes that are occurring in the global market and further assesses them painstakingly The effect of some progressive and regressive elements has also been taken into consideration with equal significance in the market intelligence report. It also delivers data on the marketing and publicity strategies, shares, and merchandises of the top drawer companies.
The global market for cash logistics comprises physical mobility of cash from a particular location to another. Cash logistics services involve armored cash management and transportation services, transportation of valuables, and ATM services. The market has witnessed substantial growth owing to the growing concerns persisting among financial institutions and corporate houses. These institutions and companies need secure services for cash movement and management. According to the report, the global market for cash logistics is likely to rise at a 10.18% CAGR from 2017 to 2021.
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The growing demand for vaults and safe for cash management is expected to drive the growth of the global market for cash logistics till the end of the forecast period. The banking sector is witnessing an extensive demand for locks and safety vaults for maintaining and storing cash and other items which are of high value for protecting them from burglar attacks. These safety vaults are fitted with are locks, panels, and doors and have features such as integrated light switches, emergency ventilators, and need low maintenance. The rise in the disposable income of consumers is expected to give rise a colossal demand for safety systems, thus fuelling the growth of the global cash logistics market. Moreover, the advent of high-end digital electronic safes with added digital lock technology, password protected locks, indicators for low battery, non-volatile memory, and extra protection.
One of the prominent trends likely to gain traction over the coming years is the rising demand for ATMs. With mass reach, ATMs are prone to theft and burglary. Thus, to reduce operational risks, financial organizations are likely to begin outsourcing cash management operations pertaining to ATMs to third-party logistic firms which are comparatively secure. Based on service type, the market was led by the cash-in –transit segment in 2016 owing its function of securely transportation of bullion, coins, and new currencies for banks and other customer such as financial institutions and businesses.
Region-wise, Europe, and the Middle East and Africa led the market in 2016 and the trend is likely to continue owing to the growing number of ATMs in Europe. The top companies operating in the market are Prosegur, Loomis, GardaWorld, G4S, and Brink’s.
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