Dublin, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The "Cash Logistics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global cash logistics market is expected to grow from $16.62 billion in 2021 to $18.72 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The cash logistics market is expected to reach $25.27 billion in 2026 at a CAGR of 7.8%.
The cash logistics market consists of sales of the cash logistics by entities (organizations, sole traders, and partnerships), that is used for the physical movement as well as handling of cash from one location to another. Cash logistics refers to transporting cash from client points to the cash processing centers, where it is counted, checked, inspected, and transferred into the client's account. It primarily manages, transmits, and protects funds by removing risks and exposing them to the public.
The main types of cash logistics are cash management, cash-in-transit, and ATM services. Cash management involves collecting and managing cash flows from the operating, investing, and financing activities of a company which includes activities like specializing in ATM cash replenishment, CIT, retail cash management, such as doorstep banking, as well as complete line maintenance, cash processing, and vaulting services are all available. The different modes of transit include roadways, railways, and airways. These are used in financial institutions, retailers, government agencies, hospitality, and other end users.
Asia Pacific was the largest region in the cash logistics market in 2021. The regions covered in the cash logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in 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, the number of ATMs installed increased from 2.21 lakhs at the end of March 2019 to 2.32 lakhs at the end of December 2019 and by March 2021, the country's total number of ATMs had risen to 2.34 lakhs. Also, 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.
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.
The 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.
In April 2021, Allied Universal, a US-based provider of security systems and services acquired G4S for a deal amount of £3.8billion ($4.007 Billion). With this acquisition, Allied Universal would become the third-largest employer in North America and a global leader in integrated security, offering customers an unrivaled breadth of competence and new prospects. G4S is a UK-based company that offers secure, physical transportation of money, including banknotes and coins, from one place to another.
The countries covered in the cash logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the cash logistics market are
- Cash Logistics Security AG
- CMS Info Systems Ltd.
- GardaWorld Corporation
- Global Security Logistics Co.
- General Secure Logistics Services (GSLS)
- The Brink's Company
- Lemuir Group
- Loomis AB
- Prosegur
- Dunbar International
- Global Security Logistics Co.
- Security and Intelligence Services
- Allied Universal
- MPS Security
Key Topics Covered:
1. Executive Summary
2. Cash Logistics Market Characteristics
3. Cash Logistics Market Trends And Strategies
4. Impact Of COVID-19 On Cash Logistics
5. Cash Logistics Market Size And Growth
5.1. Global Cash Logistics Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Cash Logistics Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Cash Logistics Market Segmentation
6.1. Global Cash Logistics Market, Segmentation By Service, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Cash Management
- Cash-In-Transit
- ATM Services
6.2. Global Cash Logistics Market, Segmentation By Mode of tranisit, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Roadways
- Railways
- Airways
- Other Modes
6.3. Global Cash Logistics Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Financial Institutions
- Retailers
- Government Agencies
- Hospitality
- Other End Users
7. Cash Logistics Market Regional And Country Analysis
7.1. Global Cash Logistics Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Cash Logistics Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/9pln6g
