Published on : Dec 01, 2017
ALBANY, New York, December 01, 2017: ResearchMoz.us has added a new research report to its repository, titled, “Global Cash Logistics Market: Analysis By Segment (Cash in Transit, Cash Management), By End Use (Retail, Financial Institutions, others), By Region, By Country: Opportunities and Forecast (2017-2022).” The report studies the market from every possible angle to find out its overall revenue, size, competitive dynamics, and growth path in the upcoming years. It carefully examines the growth drivers and trends molding the market at present. The aim is to offer stakeholders a proper understanding about the current trends and vulnerabilities of the market so as to enable them to take astute decisions.
As per the report, the global market for cash logistics will likely expand at a solid 13.8% CAGR during the period between 2017 and 2022.
Serving to catalyze growth in the global market for cash logistics is the growing demand for safe and vaults for cash management, particularly from the flourishing banking sector on account of the ever-increasing number of banked people. Such vaults and safes are highly protected since they have panels, doors, and locks, which require little maintenance. They are also outfitted with light switches having electrical boxes and ventilators. Further, emergence of cutting-edge digital electronic safes which are extra safe and have non-volatile memory, password protected locks, and low battery indicators is also benefitting the market.
Burgeoning ATMs are providing tailwind to the global cash logistics market too. With the banks and financial institutions trying to bring down the operational risks related with cash logistics, cash management operations pertaining to ATMs will likely be outsourced to third-party secure logistics firms, thereby stoking demand in cash logistics.
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Posing headwinds to the global market for cash logistics, on the other hand, is the efforts by governments of different nations to wean people away from cash by encouraging digital transactions or those via cards in order to bring about more transparency in the economies. With this aim in mind many governments have launched numerous initiatives, some highly disruptive like demonetization, in order to reduce the amount of currency in circulation. In fact, highly developed nations in Europe with a high proportion of banked population are frontrunners in cashless drives. Such nations are serving to crimp demand for cash logistics.
The two main segments of the global cash logistics market are cash management and cash in transit. Of the two, the cash in transit segment has progressed by leaps and bounds in the past couple of years and in the years ahead too is projected to rise at a healthy clip. The key end users in the market are retail, financial institutions, etc.
From a geographical standpoint, North America is a dominant region that accounts for maximum share in the global market for cash logistics. Asia Pacific is another key market that holds out a lot of opportunities on account of fast-expanding developing nations of China and India, proliferations of ATMs, and high currency in circulation to GDP (CIC-GDP) ratio.
Presence of numerous international and local vendors in the global cash logistics market makes it highly competitive. In order to make inroads into regional markets, international bigwigs are acquiring their regional or local counterparts. Such large vendors are also leveraging strategic mergers and acquisitions to grow their portfolio and achieve economies of scale in various supply chain management (SCM) processes. Prominent names in the global cash logistics market are Prosegur, Brinks, G4S, GardaWorld, and Loomis.
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