Newark, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global secure logistics market will grow from USD 81.68 Billion in 2023 to USD 182.98 Billion by 2033. Secure logistics is a collaborative effort that requires the involvement of multiple stakeholders. Logistics companies are instrumental in establishing and implementing security procedures within their operations. Government entities, such as customs clearance departments, contribute by setting regulatory standards and ensuring compliance. Technology partners, with their innovative solutions, play a key role in enhancing safety through advanced surveillance and cybersecurity tools.
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Risk management is an essential component of secure logistics. It encompasses recognizing security threats, evaluating their effects, and executing strategies to minimize them. Logistics-based risk management may involve periodic security appraisals, devising proactive measures for hazard mitigation, and orchestrating protocols in response to safety breaches. A practical illustration would be a shipment company conducting a vulnerability assessment on its delivery paths; the findings will inform development plans for contingencies if any danger arises, prompting redirections to alternative routes.
Key Insight of the Secure Logistics Market
Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia Pacific is expected to grow at the highest CAGR within the global secure logistics market. The Asia Pacific region will significantly expand. Due to increasing demand for ATMs, the growth of financial institutions, and a rise in freight theft, significant expansion is anticipated throughout Asia Pacific. The Reduce Aviation Freight Theft (RAFT) project was established by a joint venture between the Australian Federal Police and customs agents to investigate aviation thefts within Australia. Additionally, movers from around the world - including manufacturers, logistics providers, law enforcement personnel, and transport asset protection associations- formed the TAPA forum with reduced international supply chains' losses at its forefront. Furthermore, developing economies like India, Vietnam, Indonesia and the Philippines' rapid urbanization coupled with increased consumer spending provides abundant opportunities for secure logistics firms requiring reliable transportation and storage services to safeguard valuable goods and assets against threats.
The mobile segment is expected to grow at the highest CAGR during the forecast period.
The type segment includes static and mobile. The mobile segment is expected to grow at the highest CAGR during the forecast period. The demand for safe and reliable transportation of valuable assets across diverse industries has led to a substantial portion of the market occupied by mobile secure logistics. Banking institutions transport cash, checks, and valuables between branches, ATMs, and central vaults through armored vehicles equipped with GPS tracking systems and secure compartments. Retailers also use mobile logistics as they require high-value products such as jewelry, electronics, or luxury goods securely delivered without any tampering during transit.
The diamonds segment is expected to grow at the highest CAGR during the forecast period.
The application segment includes cash management, diamonds, jewelry & precious metals, manufacturing and others. The diamond segment is expected to grow at the highest CAGR during the forecast period. This segment dominates the secure logistics market, attributed to the high-risk and inherent value of precious metals, diamonds, and jewelry. With a diverse client base that includes mining companies, manufacturers, wholesalers, retailers, and auction houses, providers ensure safe transportation from mines for raw materials, shipment between producers and sellers, and delivery of costly items for end consumers.
The air segment is expected to grow at the highest CAGR during the forecast period.
The mode of transportation segment includes road, rail and air. The air segment is expected to grow at the highest CAGR during the forecast period. The demand for fast delivery of expensive goods across the world is causing an expansion in the market. Flights are a vital mode of transportation for industries such as technology, banking, and pharmaceuticals due to their speed and effectiveness. To meet air cargo's strict security regulations, secure logistics providers invest in cutting-edge screening technologies and safe cargo facilities with compliance adhering to worldwide standards as globalization continues to increase swift transportation' necessity while maintaining safety; therefore, stable growth within secure logistical air travel's segment possible boosted by aviation security innovations.
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Recent Developments:
• In August 2022: Allied Universal, the world's largest provider of security and facilities services, strategically acquired Attenti Group, one of the top electronic monitoring companies.
Market Dynamics
Driver: Advent of Fully Automated Cash-In-Transit Vehicles
The companies within the secure logistics industry continuously invest in research and development to produce advanced solutions for their clientele. Presently, companies offer a wide range of mobile secured logistics services comprising transport with armour protection and driverless vehicles equipped with robotic or automated guards instead of human personnel. Furthermore, service providers integrate state-of-the-art technologies into their fleet, such as power locks, cruise control systems, and automatic climate controls, along with bulletproof glass and doors that enhance performance and ensure safety and reliability.
Restraint: Growing Use of Digital Payments
Advancements in technology such as NFC, EMV chips and other contactless devices are transforming the payment process. With improved data and payment infrastructure, mobile commerce presents a significant opportunity window. Increasingly popular among an expanding consumer base, online M-Commerce has become successful thanks to its growth potential. The future of mobile payments seems bright due to the emergence of innovative solutions like Phone Pe or Google Pay that will drive market expansion in the upcoming years.
Opportunity: Growth of the Banking & Financial Institutions
Over the past few decades, the banking industry has undergone substantial global transformation. This shift is primarily due to the deregulation of financial services and technological advancements in banking procedures. In previous years, emerging economies heavily protected their banks with regulations surrounding deposits and stipulations for domestic and foreign investors seeking entrance into this sector. However, macroeconomic influences and technological progress have compelled regional players to open their markets to compete against foreign competitors.
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Some of the major players operating in the Secure logistics Market are:
• Brink’s Incorporated
• CargoGuard
• CMS Info Systems (CMS)
• G4S Limited
• GardaWorld
• Lemuir Group
• Loomis AB
• Maltacourt
• PlanITROI, Inc.
• Prosegur
• Allied Universal
• Securitas AB
Key Segments Cover in the Market:
By Type:
• Static
• Mobile
By Application:
• Cash Management
• Diamonds, Jewelry & Precious Metals
• Manufacturing
• Others
By Mode of Transportation:
• Road
• Rail
• Air
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
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