Global Cash Logistics Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAnnnnGR of XX% during the forecast period.
. This latter segment includes services that minimize the risks associated with cash transfer or assets by ensuring safe transportation using different armored vehicles; thereby enabling the smooth functioning of financial institutions, businesses, and retailers. Cross-border transportation of cash, and storing of cash during transit require generic cash logistics solutions – primary services offered by cash-in-transit services.
Based on end use, the market has been segmented into financial institutions, retail, and government agencies, and others. The financial institution’s segment dominates the market as these institutions are widely adopting these solutions owing to various advantages such as improved transparency, customization of solutions, and optimal cash.
Based on the region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is expected to emerge as the fastest-growing regional market owing to the enhancement of banking facilities in emerging economies such as China and India. Various factors such as increasing cash usage, increased ATM installation, and increased purchasing power are further expected to propel the market growth in the region.
Market players in India are collaborating with Cash Logistics Association (CLA), which deals in cash pick-up & delivery, intercity bulk cash movement, and ATM cash management, among others. This is expected to contribute to the growth of the segment in the Asia Pacific region.
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