What Factors Propelled The Growth Of The Cash Logistics Market In The Past?
The cash logistics market has seen considerable growth due to a variety of factors.
• In recent times, the expansion of the cash logistics market has been significant. It's expected to increase from a value of $21.9 billion in 2024 to $23.68 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.1%.
This growth during the historical period could be due to the robust economic growth in emerging markets, an increase in ATM deployment, and a spike in the economy's currency circulation.
What is the Market Size Forecast for the Cash Logistics Market?
The cash logistics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for cash logistics is anticipated to witness robust expansion in the approaching years, reaching $34.31 billion by 2029 with a compound annual growth rate (CAGR) of 9.7%.
This projected increase during the forecast period can be ascribed to a surge in cash-on-delivery (cod) payment methods, a growing population, and amplified funding. Key trends for this timeframe involve the integration of artificial intelligence in cash handling, technological innovations, and the establishment of strategic alliances and partnerships.
Which Factors Are Boosting Growth In The Cash Logistics Market?
The surge in the implementation of automated teller machines (ATMs) is set to fuel the expansion of the cash logistics market in the future. ATMs are financial transaction systems and automated banking formats that function without the need for a human cashier or teller to facilitate the movement of physical cash. Cash logistics is the term used to describe the process where banks outsource the collection, management, and deposit of cash at ATMs to consumers. For example, a study conducted by KAL ATM Software, a German provider of multivendor ATM software and security solutions, in November 2023 showed that 43% of those surveyed globally reported owning between 1 and 500 ATMs, with 31% managing between 500 and 2,000 ATMs, which increased to 32% in 2023. 26% were operating over 2,000 ATMs, rising to 27% in 2023. Furthermore, in the UK, there was a 19% surge in annual ATM cash withdrawals. As such, the growing prevalence of ATMs is contributing to the expansion of the cash logistics market.
What Are The Major Segments Within The Cash Logistics Market?
The cash logistics market covered in this report is segmented –
1) By Service: Cash Management, Cash-In-Transit, ATM Services
2) By Mode Of Transit: Roadways, Railways, Airways, Waterways
3) By End-User: Financial Institutions, Retailers, Government Agencies, Hospitality, Other End Users
Subsegments:
1) By Cash Management: Currency Processing And Sorting, Cash Recycling Solutions, Vault Services, Reporting And Reconciliation Services
2) By Cash-In-Transit (CIT): Secure Transportation Of Cash And Valuables, Scheduled Cash Pickups And Deliveries, Security Escorts For High-Value Shipments
3) By ATM Services: ATM Cash Replenishment, Maintenance And Repair Services, Remote Monitoring And Management, Installation Services
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Which Trends Are Expected To Transform The Cash Logistics Market?
Leading corporations in the cash logistics industry are keen on developing advanced facilities like upgradeable ATMs to cater to the clientele's needs and reinforce their market dominance. Upgradeable ATMs have the ability to be effortlessly transformed into CRMs (Cash Recycling Machines) or superior systems, providing room for future improvements without the necessity for replacement. For example, in April 2024, Hitachi Payment Services, a payments and commerce solutions firm based in India, launched the country's debut upgradeable ATM. These ATMs, conveniently convertible into top-notch Cash Recycling Machines (CRMs), are another product of the Make in India movement and provide greater adaptability and productivity to banks. The creative construction makes the transition from ATM to CRM smooth, minimizing the need for expensive replacements and time-consuming installations, whilst readying banks for any forthcoming market needs.
Who Are the Key Players in the Cash Logistics Market?
Major companies operating in the cash logistics market include:
• The Brink’s Company
• Loomis AB
• Prosegur Compania de Seguridad SA
• Allied Universal
• GardaWorld
• CMS Info Systems Ltd
• Security and Intelligence Services Ltd.
• General Secure Logistics Services (GSLS)
• AXIOM Armored
• Global Security Logistic Co
• Writer Corporation
• Securevalue
• Radiant Cash
• G4S Plc
• Fennech Financial Limited
• Cash Logistics Security AG
• Waves Enterprise
• BCS World of Investments
• UBS Russia
• Sberbank
• ATON
• Viking Cash Logistics
• Cosan Group
• Green Cash Logistics
• Massar Group
• Sanid
• APSG
• Eraf Group
• SBV Services
• Umnotho Cash Management
What Is The Most Dominant Region In The Cash Logistics Market?
Asia-Pacific was the largest region in the cash logistics market in 2024. The regions covered in the cash logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
