The global cash logistics industry is projected to observe notable growth by 2025, exhibiting an incremental CAGR during the forecast period of 2017 to 2025, as per research report available on Alexa Reports. Increasing importance of cash logistics management solutions and growing concerns related to security during cash transit are some of the major market drivers observed over the past few years. Additionally, rising research & development activities pertaining to the growing investment by industry participants to provide clients with advanced security solutions will further escalate industry growth.
Cash logistics, also identified as cash transit, involves transportation of cash from one place to another. Some of the common types of cash transit services include cash-in-transit, money management, and ATM replenishment. These services are performed for transporting money from bank location to the ATMs. Steps involved during money transit include wrapping, sorting, and analysis quality of bills. Currency management services offer advantages including reduction operating cost, high efficiency during project management, and secure infrastructure.
Additionally, increasing need for currency circulation, necessity of safe and secured infrastructure for currency management, and rising number of ATMs, particularly across the emerging economies are further escalating demand for these services over the coming years. Growing concerns regarding rising number of incidences of robberies and theft has led to development of advanced security solutions, thus offering several growth prospects for market players. However, rising adoption of digital money and higher penetration of UPI payments are expected to hinder market progress to a certain extent.
Based on type of services on offer by currency management companies, the market is categorized into several types including ATM management services, armoured transportation, device management, and international secure logistics. ATM management services has garnered substantial market share among other types of services, credited to rising number of ATMs and booming BFSI sector in the Asia Pacific region.
Rising demand for cash services from developing economies including China, India, Brazil, South Africa and Mexico are significantly contributing market progress during the forecast period.
The Brink’s Co., Cash Logistics Security AG, CMS Info Systems Ltd., G4S plc, Garda World Security Corp., Global Security Logistics Co., GSLS, Lemuir Group, Inc., and Prosegur Cash, S.A., are some of the major businesses in cosh logistics industry.