Technavio Forecasts Worldwide Cash Logistics Market to Reach USD 15.84 billion between 2020 and 2025

Vendors will try to incorporate various solutions to enhance their services and increase their market shares, especially because of the growing B2C e-commerce industry particularly in countries such as US and Canada.

 Cash Logistics Market Report Highlights:

1. Market growth 2020-2025: USD 15.84 billion
2. Growth momentum & CAGR: Accelerate at a CAGR of 10%
3. YoY growth (%): 8.66%
4. Performing market contribution: APAC at 35%
5. Key consumer countries: US, China, India, Germany, and UK

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Regional Market Analysis

With 35% of the growth originating from APAC, this region will record a fast growth rate during 2021-2025. China and India are the key markets for cash logistics in APAC.

During the projected period, the cash logistics market in APAC is expected to develop at a moderate rate. This is attributable to the expansion of banking facilities in remote places, as well as an increase in the flow of cash circulation due to the region's high cash demand. The market's expansion has been aided by improving transportation infrastructure, an increase in the number of ATMs, and an increase in the region's purchasing power. 

Apart from the rapid economic growth, the other key reasons for the increasing cash logistics market's growth in APAC is:

• The market will grow due to an increase in foreign commerce and investments, as well as an increase in regional safety and security concerns. Furthermore, in Asia, more than half of the population prefers to pay using cash. A large chunk of the world's underbanked population, which relies on cash transactions, lives in Australia, India, China, Japan, Singapore, and South Korea. This means that the market in the region has a lot of room to grow. Despite a wide spectrum of government-led cashless initiatives, these countries have a strong cash culture during the forecasted period.

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Key Vendors and Vendor Strategies

G4S Plc, GardaWorld Security Corp., GSLS, Global Security Logistics Co, Loomis AB, Prosegur Cash SA, Cash Logistik Security AG, CMS Info Systems Pvt. Ltd., and Security and Intelligence Services (India) Ltd. are a few of the key vendors in the cash logistics market.

The vendors in the market are constantly focusing on broadening their product portfolio through expanding their product offerings. Additionally, vendors are focusing on expanding their presence in new regions.

For instance:

• Cash Logistik Security AG offers a secure transition from cash to deposit money for the banking sector.
• CMS Info Systems Pvt. Ltd., offers ATM services, with daily cash replenishment, 24X7 first-line maintenance for maximum uptime, and other ancillary services.
• G4S Plc: the company offers cash in transit (CIT), cash processing, and automated teller machine (ATM) services.

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Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the last mile delivery market.

•   Growing preference for outsourcing cash management services by financial institutions
• As the number of ATMs grows, cash management and security are being outsourced. By 2019, four million machines are expected to be installed, resulting in greater cash circulation. The volume of money handled by ATMs is predicted to surpass that handled by bank employees, necessitating the use of professional cash logistics. The demand for cash is expanding in response to the growing worldwide population. This has aided the rise of banks and financial institutions outsourcing cash logistics services. Cash-in-transit time has decreased as a result of outsourcing cash management security and services.

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Healthcare Logistics Market in Canada by Product and Service - Forecast and Analysis 2021-2025

Healthcare Logistics Market in North America by Product, Service, and Geography - Forecast and Analysis 2021-2025

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SOURCE Technavio