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DUBLIN, July 18, 2022 /PRNewswire/ — The “Global Cash Logistics Market Size, Share & Trends Analysis Report by Service, by End Use (Financial Institutions, Government Agencies, Retail), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global cash logistics market size is anticipated to reach USD 46.36 billion by 2030, registering a CAGR of 8.2% from 2022 to 2030.
The growing demand for efficient cash management solutions such as intelligent vaults and fully automated cash-in-transit vehicles to enhance operational functionality and flexibility are the major factors driving the growth of the market.
In addition, the growing need for security in currency handling activities is expected to gain high momentum over the forecast period. The rising integration of Artificial Intelligence (AI) into cash management solutions to prevent fraud is also expected to contribute to the growth of the market . Several biometric solution providers are focusing on developing new features and functions, such as secure software for efficient cash management solutions and automatic cash handling services for better security.
Companies such as Brink’s Incorporated, CMS Info Systems Ltd., and Prosegur Cash SA have developed AI-based solutions to enhance the customer experience as per the changing needs of customers. Cash management solution providers are acquiring ATM service-providing companies to expand their reach . For instance, in April 2021Brink’s Company, a cash management solution company, announced the acquisition of PAI, Inc., a US-based privately-owned ATM services provider, for USD 213 million to expand its reach in the US
Advanced technologies complement the benefits of cash-in-transit vehicles. Several vehicle manufacturers are developing electric armored money transporter for the safety of employees. For instance, in August 2020MAN, a commercial vehicle provider, introduced a MAN eTGE electric van, an electrically armored money transporter, to Prosegur, an international security service provider. The COVID-19 pandemic has adversely impacted the growth of the cash logistics industry owing …
Full story available on Benzinga.com
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