USD 17.87 billion
Cash Logistics Market Size, Share, Growth Analysis, By Service(Cash Management, Cash-In-Transit, ATM Services), By End user(Financial Institutions, Retailers, Government Agencies, Hospitality and others.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG40D2016 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
65
Cash Logistics Market Insights
Cash Logistics Market size was valued at USD 17.87 billion in 2021 and is poised to grow from USD 18.97 billion in 2022 to USD 30.69 billion by 2030, at a CAGR of 6.20% during the forecast period (2023-2030).
The Cash Logistics Market growth is driven by increase in cash circulation, growing demand for safes and vaults to manage cash, and the expansion of ATM deployments. Furthermore, the market presents various potential opportunities, driven by the development of fully automated cash-in-transit vehicles and the rising demand for cash in emerging nations. The increased use of currency circulation in the economy has led to a higher demand for cash logistics services, such as cash management, cash-in-transit, and ATM services. These services not only enhance cash management efficiency but also offer benefits like reduced errors and improved cash flow. Moreover, recent data from the Bank for International Settlements (BIS) indicates that the growth in the total amount of cash in circulation is influenced by the increased usage of large denomination notes. Customers worldwide prefer using cash for its convenience, leading to a demand for more reliable, faster, secure, and user-friendly ways to access money, driven by technological advancements.
Smart ATMs with advanced security measures, such as one-time password verification and biometric technologies, are also contributing to the market's expansion. Furthermore, the deployment of ATMs is expected to be fueled by the increasing automation demand in the banking industry across various established and emerging nations.
US Cash Logistics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cash-in-Transit
Fastest Growth
Cash-in-Transit
Growth Rate
6.20% CAGR
Global Cash logistics Market ($ Bn)
Country Share for North America Region (%)
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Cash Logistics Market Segmental Analysis
Global Cash Logistics Market is segmented on the basis of Service, end-user and region. By service, the market is segmented into Cash Management, Cash-In-Transit, ATM Services. By end-user, the market is segmented into Financial Institutions, Retailers, Government Agencies, Hospitality and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cash Logistics Market Analysis By Service
The Cash-in-Transit (CIT) segment is the dominant segment and has been the leading force in the market, comprising more than 38.0% of the total global revenue. Its dominance can be attributed to several key factors, such as reduced cash transport costs for deliveries and pickups, enhanced cash flow security, and the ability to remotely monitor cash with real-time reporting. Notably, CIT companies have been increasingly outsourcing their transport activities, which has significantly boosted their momentum. While the CIT segment is projected to reach a level of maturity, it continues to experience a surge in the number of vendors providing logistics services with varying standards. This trend reflects the growing competitiveness in the market and the demand for diverse service offerings.
On the other hand, Cash management is the fastest growing segment due to increased awareness among organizations about the importance of efficient liquidity management. These services primarily revolve around the secure handling and transportation of valuable assets and currency, catering to the needs of banks, retailers, and financial institutions. As there is substantial demand for currency from business suppliers and retailers to support their day-to-day operations, the effective management of cash handling becomes crucial. Consequently, the implementation of deposit kiosks and ATMs can help reduce lead times for both banks and suppliers, streamlining the overall cash management process.
Cash Logistics Market Analysis By End user
The financial institutions segment occupies a dominant market share, contributing to more than 41.0% of the total global revenue. This segment's dominant position can be attributed to the proactive initiatives taken by organizations to enhance the financial supply chain. The segment's growth is significantly influenced by the competitive landscape and the rapidly evolving business environment. In developing economies, the rising popularity of credit and loans in the form of microfinance is becoming a driving force behind the increased demand for cash. Consequently, microfinance institutions play a crucial role in the mainstream financial sector and contribute significantly to the overall market dynamics.
On the other hand, the fastest growing end-user segment is the Government agencies. In the forthcoming years, the government agencies segment is poised to experience substantial growth. These agencies are actively embracing cash logistics solutions to enhance customer experience, employing cutting-edge technologies like artificial intelligence and machine learning. Moreover, the continuous and significant inflow of cash on a daily basis further propels the expansion of the government agencies segment.
Global Cash logistics Market By Service type
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Cash Logistics Market Regional Insights
The North America region dominates the Global Cash Logistics Market and is expected to maintain its leading position in the coming years. North America emerged as the dominant force in the purchase now pay later market, contributing to over 32.0 percent of the global revenue. The United States, in particular, has witnessed a substantial circulation of Federal Reserve notes, estimated at USD 1.87 trillion by the Federal Reserve System. This increased circulation of cash in countries like the U.S. and Canada has led to a growing demand for cash logistics services, such as cash-in-transit, cash management, and ATM services, thus driving the overall expansion of the market.
On the other hand, Asia Pacific region is experiencing the fastest growth rate in the market. Asia Pacific is a flourishing market with a projected continuous and robust growth in the foreseeable future due to customers' preference for using cash for everyday expenses like food, gas, and groceries, among others. The region's expansion is further fueled by the increasing availability of banking facilities in countries like China, Japan, and India, creating a rising demand for cash logistics solutions.Several factors are expected to drive the market's growth, including the increasing usage of cash, a surge in ATM installations, and the growing purchasing power of consumers. Notably, in the Indian markets, the potential for mergers and acquisitions within a centralized banking system is likely to present numerous opportunities for maintaining a consistent cash flow.
Global Cash logistics Market By Geography
- Largest
- Fastest
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Cash Logistics Market Dynamics
Cash Logistics Market Drivers
Increased preference of Outsourcing
- The global Cash Logistics Market is witnessing significant growth, primarily driven by the increasing preference of financial institutions to outsource cash management services. This outsourcing trend has become a major contributing factor to the market's expansion. The rise in the number of ATMs has played a crucial role in driving the demand for outsourced cash management and security services. The volume of cash handled by ATMs is projected to surpass that processed by bank employees, creating a need for specialized cash logistics services.The growing world population has led to a higher demand for cash, which, in turn, has accelerated the outsourcing of cash logistics services by banks and financial institutions. Outsourcing security and cash management has also resulted in reduced cash handling time. Additionally, when financial institutions entrust their cash to external cash logistics companies, customers are offered substantial compensation in case of any loss, misplacement, theft, or other incidents, further promoting the outsourcing trend.
Cash Logistics Market Restraints
High competition
- The intense competition within the Cash Logistics Market poses a significant challenge to its overall growth. This market is highly competitive, and there are several regions, such as Asia and Africa, that still offer untapped opportunities. With numerous vendors providing similar services, the competition puts immense pressure on pricing and reputation, making the quality of services a crucial factor in securing cash logistics contracts. As a result, cost efficiency and the capacity to manage risks effectively play pivotal roles in determining the selection of vendors in this fiercely competitive industry.
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Cash Logistics Market Competitive Landscape
The Global Cash Logistics Market features a competitive landscape, Companies are actively deploying various strategies to enhance their revenue share, including developing new formulations, forging partnerships and distribution agreements, and expanding their presence in different regions. These companies are committed to continuous innovation to stand out in the market and tailor their services to suit the specific requirements of potential customers. As part of their efforts, vendors are heavily investing in research and development to introduce novel and updated services.
A key focus for these companies is to design customized solutions that cater to the unique demands of their customers in the cash and valuables supply chain. Additionally, cash management solution providers are expanding their market reach by acquiring ATM service-providing companies, aiming to strengthen their overall service capabilities.
Cash Logistics Market Top Player’s Company Profiles
- Brink's Incorporated (US)
- Cash Logistik Security AG (Switzerland)
- CMS Info Systems Ltd. (India)
- G4S Limited (UK)
- GardaWorld (Canada)
- Global Security Logistic Co. (United Arab Emirates)
- Security and Intelligence Services Ltd. (India)
- Loomis AB ( Sweden)
- Prosegur (Spain)
- Cash in Transit Solutions Pty Ltd (Australia)
Cash Logistics Market Recent Developments
- In February 2022, Sesami Cash Management Technologies announced its decision to operate as an independent entity, offering customers a comprehensive cash ecosystem and cash automation operation through its software, intelligent devices, and managed services.
- In May 2022, Mastercard collaborated with Galileo Financial Technologies, a division of SoFi Technologies, Inc., with the aim of enhancing financial access for unbanked and underserved communities in Latin America.
Cash Logistics Key Market Trends
- Increased use of Banking services: The need for a unified and efficient platform for cash management is gaining momentum worldwide due to the increasing usage of banking services. This factor stands as a significant driver behind the adoption of cash logistics. Such integrated solutions offer centralized control, minimize risks, and enhance visibility, making them increasingly sought after.Furthermore, the surge in automated branch operations is fueling the demand for cash logistics, as it ensures a consistent availability of cash to meet customer demands effectively. Additionally, the global population growth is resulting in higher cash circulation, further compounded by the growing number of ATMs, leading to an increased inclination towards outsourcing cash management services through cash logistics. This approach enables banks to bolster security measures and reduce in-house operational burdens. Moreover, the expansion of banking facilities in remote regions and the persistent use of physical cash in these areas are driving the market's growth. As a result, the demand for cash logistics services is witnessing a positive surge in such locations.Top of Form
Cash Logistics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Application team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Cash Logistics Market analysis, the market is poised for significant growth in the coming years. Globally, customers continue to favor cash as a preferred payment option due to its convenience. As technology advances, customers seek faster, secure, and convenient ways of accessing cash. Enhanced security measures, like one-time password authentication and biometric systems, are being adopted to prevent fraud. The introduction of Smart ATMs catering to users with special needs is also contributing to market growth. The increasing demand for automation in the banking sectors of developed and emerging countries is expected to further drive ATM deployment. Market players are actively integrating technologies such as Artificial Intelligence (AI), biometric technology, and the Internet of Things (IoT) to provide a seamless payment experience.
Promising opportunities lie in developing technological infrastructure that ensures transparency during cash handling operations. However, security threats like theft and robbery during transit operations present significant challenges for these companies. Additionally, maintaining an efficient logistical process throughout the financial year involves high overheads. Moreover, the complex nature of compliance and regulations, along with the rising adoption of digital money, might hinder the market's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.87 billion |
| Market size value in 2031 | USD 30.69 billion |
| Growth Rate | 6.20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cash Logistics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cash Logistics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cash Logistics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cash Logistics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cash Logistics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cash Logistics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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