Global Cash Logistics Market Report 2022: Over $25 Billion
Dublin, Sept. 01, 2022 (GLOBE NEWSWIRE) — The “Global Cash Logistics Market Report 2022” report has been added to from ResearchAndMarkets.com offer.
The global cash logistics market is expected to grow from $16.62 billion in 2021 to $18.72 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The cash logistics market is expected to reach USD 25.27 billion in 2026 with a CAGR of 7.8%.
The cash logistics market consists of the sale of cash logistics by entities (organizations, independent traders and partnerships), which is used for the physical movement as well as handling of cash from one location to another. Cash logistics refers to the transportation of cash from customer points to cash processing centers, where it is counted, verified, inspected and transferred to the customer’s account. It primarily manages, transmits and protects funds by removing risk and exposing it to the public.
The main types of cash logistics are cash handling, cash in transit and ATM services. Cash management involves collecting and managing cash flow from a company’s operating, investing, and financing activities, which includes activities such as specializing in ATM cash replenishment, CIT, retail cash management, such as home banking, as well as full line maintenance, cash processing. , and safety deposit box services are all available. The different modes of transport include roads, railways and airways. These are used in financial institutions, retailers, government agencies, hospitality and other end users.
Asia-Pacific was the largest region in the Cash Logistics Market in 2021. Regions covered in the Cash Logistics Market report are Asia-Pacific, Western Europe, Eastern Europe, East, North America, South America, Middle East and Africa.
The increase in the deployment of ATMs is expected to propel the growth of the cash logistics market in the future. An ATM means automatic teller machine. It is a financial transaction machine and an automatic banking platform that does not require a cashier or human cashier for the circulation of cash.
The process of collecting, managing and depositing cash at an ATM, which is outsourced by banks to users, is known as cash logistics. For example, according to the Reserve Bank of India, in India the number of installed ATMs increased from 2.21 lakhs at the end of March 2019 to 2.32 lakhs at the end of December 2019 and in March 2021 the total number of ATMs in the country had risen to 2.34 lakhs. Additionally, there were 213,575 ATMs in March 2021, which is 1.3% more than in March 2020. Hence, the increasing development of ATMs is driving the growth of the cash logistics market.
The introduction of mobile ATMs is a key trend gaining popularity in the cash logistics market. Major companies operating in the cash logistics market are focusing on introducing mobile ATMs to meet consumer demand and strengthen their position. For example, in May 2021, in India, HDFC Bank, an Indian banking and financial services company, rolled out mobile automated teller machines (ATMs) to support customers and provide innovative services.
Mobile ATMs would eliminate the need for people to withdraw cash from restricted or sealed locations. Additionally, in 2021, HDFC Bank has rolled out mobile ATMs in around 50 cities in India. Bengaluru is the bank’s 25th city to receive mobile ATMs in 2021. Customers can make over 15 different types of transactions using the mobile ATM, which will be available for a limited time at each location.
In April 2021, Allied Universal, an American security systems and services provider, acquired G4S for £3.8 billion ($4.007 billion). With this acquisition, Allied Universal would become the third-largest employer in North America and a global leader in integrated security, offering its customers an unparalleled array of skills and new perspectives. G4S is a UK-based company that offers secure physical transport of money, including banknotes and coins, from one location to another.
Countries covered in the Cash Logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea , the United Kingdom and the United States.
Key Players of Cash Logistics Market are
- Cash Logistics Security SA
- CMS Info Systems Ltd.
- GardaWorld Corporation
- Global Security Logistics Co.
- General Secure Logistics Services (GSLS)
- The Brink’s company
- Lemuir Group
- Loomis AB
- Dunbar International
- Global Security Logistics Co.
- Security and Intelligence Services
- Universal Ally
- MPS Security
Main topics covered:
2. Features of Cash Logistics Market
3. Cash Logistics Market Trends and Strategies
4. Impact of COVID-19 on cash logistics
5. Cash Logistics Market Size and Growth
5.1. Global Cash Logistics Historic Market, 2016-2021, USD Billion
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Cash Logistics Forecast Market, 2021-2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints
6. Cash Logistics Market Segmentation
6.1. Global Cash Logistics Market, Segmentation by Service, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Finance management
- Funds in transit
- ATM services
6.2. Global Cash Logistics Market, Segmentation by Mode of Transit, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Airlines companies
- Other Modes
6.3. Global Cash Logistics Market, Segmentation by End User, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Financial institutions
- Government agencies
- Other end users
7. Regional and Country Analysis of Cash Logistics Market
7.1. Global Cash Logistics Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global Cash Logistics Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
For more information on this report, visit https://www.researchandmarkets.com/r/9pln6g