What is the key market trend for Global Cash Logistics Market?

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 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

Q: Who are the key vendors in the Global Cash Logistics Market?

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. '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)'.

Q: What is the key driver of Global Cash Logistics Market?

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.

Q: Which region accounted for the largest share in Global Cash Logistics Market?

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.

Report ID: SQMIG40D2016 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 65

Cash Logistics Market News

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.

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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 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. 'Brink's Incorporated (US)', 'Cash Logistik Security AG (Switzerland)', 'CMS Info Systems Ltd. (India)', 'G4S Limited (UK)', 'GardaWorld (Canada)', 'Security Logistic Co. (United Arab Emirates)', 'Security and Intelligence Services Ltd. (India)', 'Loomis AB ( Sweden)', 'Prosegur (Spain)', 'Cash in Transit Solutions Pty Ltd (Australia)'

The 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.

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 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

The North America region dominates the 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 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.

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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

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What is the market size of Cash Logistics Market?

Who are the key vendors in the Cash Logistics Market?

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What is the key market trend for Cash Logistics Market?

Which region accounted for the largest share in Cash Logistics Market?

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