New York, United States , July 12, 2024 (GLOBE NEWSWIRE) -- The Global Cash Logistics Market Size is to Grow from USD 20.18 Billion in 2023 to USD 38.42 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.65% during the projected period.
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The act of handling and moving cash between places is referred to as a "cash logistics service". Its primary duties are fund management, transportation, and the elimination of risk and public exposure. The majority of cash logistics is made up of cash-in-transit, cash management, and ATM replenishment services. Large merchants, ATMs, bank branches, cash centers, and other businesses are among the locations. Businesses that specialize in transferring and processing cash from one location to another provide cash-in-transit services. Furthermore, cash management services refer to the protocols employed to maintain the financial stability of a firm. These processes involve collecting and overseeing cash flows, wrapping, sorting, and confirming the accuracy of the bills. Furthermore, the market's growth is mostly being driven by the rising need for secure and efficient cash management solutions. As a result, the market is growing more quickly as businesses in a variety of sectors, including retail, banking, and finance, increasingly turn to cash logistics services as dependable alternatives for cash distribution, processing, and collection. Furthermore, businesses are investing in logistics providers that offer state-of-the-art technology and security measures as a result of the increased attention on security brought about by the growth in theft and fraud, which is fueling the market's expansion. In addition, the business is growing as a result of the enforcement of various rules that impose stringent guidelines for the handling and transportation of currency to lower risks and boost efficiency. The market is growing as a result of quick technical developments in areas like cash recyclers, smart safes, and automated teller machines (ATMs) equipped with cutting-edge features like real-time cash monitoring and analytics. However, risks including theft and robbery during transit operations have caused many organizations to be extremely concerned about security.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cash Logistics Market Size, Share, and COVID-19 Impact Analysis, By Service (Cash Management, Cash-In-Transit, and ATM Services), By Mode of Transit (Roadways, Railways, and Airways), By End User (Financial Institutions, Retailers, Government Agencies, Hospitality, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The cash-in-transit segment is anticipated to hold the greatest share of the global cash logistics market during the projected timeframe.
Based on the service, the global cash logistics market is divided into cash management, cash-in-transit, and ATM services. Among these, the cash-in-transit segment is anticipated to hold the greatest share of the global cash logistics market during the projected timeframe. Several significant benefits, such as the ability to remotely monitor cash with real-time reporting, enhanced cash flow security, and reduced cash transportation costs for deliveries and pickups, are responsible for its supremacy.
The roadways segment is anticipated to grow at the highest CAGR in the global cash logistics market during the projected timeframe.
Based on the mode of transit, the global cash logistics market is divided into roadways, railways, and airways. Among these, the roadways segment is anticipated to grow at the highest CAGR in the global cash logistics market during the projected timeframe. Due to the is a cost-effective, flexible, and affordable option for sending cash and goods across large distances. Furthermore, cash might be swiftly and safely moved between banks and between ATMs, retail stores, and other facilities that handle cash owing to its extensive network. Additionally, the market share of cash logistics is being supported by the rising safety and efficacy of cash transit operations through the widespread usage of armored vehicles equipped with state-of-the-art security measures and GPS tracking systems.
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North America is expected to hold the largest share of the global cash logistics market over the forecast period.
North America is expected to hold the largest share of the global cash logistics market over the forecast period. Due to its well-established cash flow and financial structure. In addition, a positive outlook for the market's growth is being produced by the rise in cash transactions in the retail industry, extensive ATM networks, and the need for secure valuable transportation. Furthermore, the market is growing more quickly as a result of consumers' changing preferences for using cash in particular transactions and industrial sectors, like small businesses and the service sector.
Asia Pacific is predicted to grow at the fastest pace in the global cash logistics market during the projected timeframe. Due to the region's sizable population, rapid economic growth, and reliance on cash transactions. Additionally, the industry is expanding as a result of the retail and financial industries' rising demand for cash logistics services. The market's growth is also being aided by the region's diverse topography, which includes both urban and rural areas and presents unique opportunities for money management and transportation. Furthermore, there is a growing need for safe and efficient logistical services due to the increasing usage of ATMs, increased financial inclusion rates, and societal preferences for cash transactions. These factors are also expected to drive the market's growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cash Logistics Market include Brink's Incorporated, Cash Logistik Security AG, CMS Info Systems Ltd., G4S Limited, GardaWorld, Loomis AB, Prosegur, Cash in Transit Solutions Pty Ltd., Fiserv Inc., Allied Universal, SIS Limited, and Others.
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In June 2023, CMS finished completing Punjab National Bank's managed services mandate for more than 5200 ATMs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cash Logistics Market based on the below-mentioned segments:
Global Cash Logistics Market, By Service
- Cash Management
- Cash-In-Transit
- ATM Services
Global Cash Logistics Market, By Mode of Transit
- Roadways
- Railways
- Airways
Global Cash Logistics Market, By End User
- Financial Institutions
- Retailers
- Government Agencies
- Hospitality
- Others
Global Cash Logistics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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