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NEW YORK, June 27, 2022 /PRNewswire/ — The cash logistics market size is set to grow by USD 15.84 billion from 2020 to 2025, progressing at a CAGR of 10% according to the market forecast report by Technavio. 35% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for cash logistics in APAC. Market growth in this region will be slower than the growth of the market in other regions. The expansion of banking facilities in remote locations and the rise in the flow of cash circulation due to high cash demand in this region will facilitate the cash logistics market growth in APAC over the forecast period.
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Cash Logistics Market 2021-2025: Scope
Our cash logistics market report covers the following areas:
Cash Logistics Market 2021-2025: Vendor Analysis
The cash logistics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. 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 some of the major market participants.
Cash Logistics Market 2021-2025: Market Dynamics
Drivers: The growing preference for outsourcing cash management services by financial institutions is one of the major factors contributing to the growth of the cash logistics market. The rise in the number of ATMs has led to the outsourcing of cash management and security. With the increasing global population, there is a rise in the demand for cash. This has boosted the growth of cash logistics services being outsourced by banks and financial institutions. Outsourcing of cash management security and services has reduced cash-in-transit time. Once the cash is handed over to the third-party cash logistics company, any mishap , including loss, misplacement, theft, and others leads to the payment of heavy compensation to the client. Such factors will support the market growth in the coming years.
Trends: The increasing demand for ATMs is key cash logistics market trend that will support the market growth. The frequent withdrawal of cash by retail customers creates the demand for the …
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