Surge in cash circulation, increase in the number of ATMs, and rise in demand for safe & vault for cash management drive the growth of the global cash logistics market
PORTLAND, Oregon, Feb. 4, 2019 /PRNewswire/ --
Allied Market Research published a report, titled, "Cash Logistics Market by Service (Cash management, Cash-in-transit, and ATM Services), and End User (Financial Institutions, Retailers, Government Agencies, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report offers detailed analyses of the market dynamics, top investment pockets, market size & forecasts, and competitive landscape. According to the report, the global cash logistics market garnered $16.5 billion in 2017, and is expected to reach $30.7 billion by 2025, registering a CAGR of 7.8% from 2018 to 2025.
Increase in cash transactions, surge in presence of ATMs, and growth in demand for safe & vault for managing cash drive the growth of the global cash logistics market. However, increase in adoption of digital payments and rise in cash-in-transit robberies restrain the market growth. On the other hand, increase in demand for cash from emerging economies and surge in manufacturing of fully automated cash-in-transit vehicles would create new opportunities to the market.
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Cash-in-transit service segment to maintain its dominance by 2025
Cash-in-transit service segment contributed more than two-fifths of the total market revenue in 2017 and is expected to maintain its dominance by 2025. This is attributed to the increasing adoption of new technologies by market players to foster safety and security of cash-in-transit vehicles. However, cash management service is expected to register the highest CAGR of 9.4% from 2018 to 2025, owing to incorporation of innovative cash management services by leading banks to handle cash and offer convenience to clients. The report also analyzes ATM services segment.
Financial institutions segment to retain lead throughout forecast period
Financial institutions segment held the major share in 2017, accounting for more than two-fifths of the total market revenue and is projected to maintain its dominance throughout the forecast period. This is due to the increasing adoption of cash logistics solutions among financial institutions on account of advantages such as optimal cash flow, improved transparency, and customization of solutions among others. However, the other end user segment, which comprises individuals, private firms, and others, would grow at the fastest CAGR of 9.0% from 2018 to 2025, owing to surge in cash flow and increase in demand for safe and vault for cash management.
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Asia-Pacific to grow at the fastest CAGR
Asia-Pacific is expected to grow at the highest CAGR of 10.3% from 2018 to 2025, owing to expansion of banking facilities in emerging economies such as India, China, and others and increase in cash circulation. However, LAMEA accounted for nearly three-tenths of the total market share in 2017 and would maintain its lion's share through 2025 due to increase in demand for cash flow and high security threat for transportation of cash.
Frontrunners in the industry
The key players analyzed in the report include The Brink's Company, CMS Info Systems Ltd., Cash Logistics Security AG, Garda World Security Corporation, G4S Plc., GSLS, Lemuir Group, Global Security Logistics Co., Loomis, and Prosegur Cash, S.A.
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