Global Cash Logistics Market Size 2024, Forecast To 2033
11 Mar, 2024
The cash logistics market has demonstrated robust growth, escalating from $20.53 billion in 2023 to $22.29 billion in 2024, boasting a compound annual growth rate (CAGR) of 8.6%. This growth in the historical period is attributed to strong economic expansion in emerging markets, a rise in ATM deployments, and increased currency circulation in the economy. Forecasts indicate continued strong growth, with the market projected to reach $31.34 billion in 2028, reflecting a compound annual growth rate (CAGR) of 8.9%. This expansion is fueled by the rise in cash-on-delivery (COD) payment methods, increasing population, and heightened funding. Major trends in the forecast period include the integration of artificial intelligence in cash management, technological advancements, and strategic partnerships and collaborations.
Global Cash Logistics Market Key Driver
The surge in ATM deployment is anticipated to drive the growth of the cash logistics market in the future. ATMs, or automated teller machines, function as financial transaction machines and automated banking platforms that eliminate the need for human tellers in the handling of physical cash circulation. The process of collecting, managing, and depositing cash at ATMs, outsourced by banks to users, is referred to as cash logistics. Notably, as of March 2021, India recorded 213,575 bank ATMs, marking a 1.3% increase from March 2020, as reported by the Reserve Bank of India. Hence, the continual development of ATMs is a key factor propelling the growth of the cash logistics market, with market sizes in 2023, 2024, and 2028 playing a significant role in shaping its trajectory.
Get A Free Sample Of The Global Cash Logistics Market ReportGlobal Cash Logistics Market Segments
The cash logistics market covered in this report is segmented –
1) By Service: Cash Management, Cash-In-Transit, ATM Services
2) By Mode Of Transit: Roadways, Railways, Airways, Waterways
3) By End-User: Financial Institutions, Retailers, Government Agencies, Hospitality, Other End Users
By Geography:The regions covered in the cash logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the cash logistics market in 2023. The regions covered in the cash logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cash Logistics Industry Players
The Brink’s Company, Loomis AB, Prosegur Compania de Seguridad SA, Allied Universal, GardaWorld, CMS Info Systems Ltd, Security and Intelligence Services Ltd., General Secure Logistics Services (GSLS), AXIOM Armored, Global Security Logistic Co, Writer Corporation, Securevalue, Radiant Cash, CEVA Logistics, Fujitsu Frontech Ltd, Hitachi-Omron Terminal Solutions Corporation, Nautilus Hyosung Corporation, Deppon Logistics, FloatApp, Akoni, G4S Plc, Fennech Financial Limited, NoviCap, Intellifas Ltd, Cash Logistics Security AG, Waves Enterprise, BCS World of Investments, UBS Russia, Sberbank, ATON, Viking Cash Logistics, Cosan Group, Green Cash Logistics, Carlyle Group, Rapyd, Giesecke +Devrient, Massar Group, Sanid, APSG, Eraf Group, Alrajhi Bank, Absa Group, SkyQuest Technology, Uni24.co.za, CITASA, Kazang Connect, SBV Services, Umnotho cash Management
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Cash Logistics Market Overview
Cash logistics refers to transporting cash from client points to the cash processing centers, where it is counted, checked, inspected, and transferred into the client's account. It primarily manages, transmits, and protects funds by removing risks and exposing them to the public. This service is used for the physical movement as well as the handling of cash from one location to another.
Cash Logistics Global Market Report 2023 provides data on the global cash logistics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cash logistics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.