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|The cash logistics market size at the global level is valued at USD 19.35 billion in 2020 and is expected to reach USD 32.54 billion by 2027, recording a CAGR of 6.71% during the timeline period.
Digital payments have achieved popularity. Cash logistics involves the physical movement of cash from one place to another. Cash logistics services involve ATM services, secured cash transportation, and management services.
Cash is considered to be the most regularly used payment specifically for amounts not more than 10USD, as per Diary of Consumer Payment Choice (DCPC). The cash logistics market is projected to achieve organized growth from 2021 to 2028.
Market Drivers
Adopting cash logistics services can make cash management more effective and has advantages like time consumption, capable cash flow, and less chance of mistakes. Increasing cash circulation fosters the cash logistics market globally. Growing security issues among financial institutions and corporate houses uprise the growth.
The use of cash logistics services is hiking to improve the transparency and optimal cash accumulating the market growth. The growing number of ATMs with increasing demand for strongroom for cash management drive the market growth.
Technological advancements in cash-in-transit vehicles like the combination of surveillance systems and location tracking devices are anticipated to deliver productive opportunities for market growth. The rising preference for outsourcing cash management services by financial institutions drives the cash logistics market growth.
Market Restrains
However, the increase in the adoption of digital money and the high threat of destruction of banknotes due to physical damage are expected to hinder market growth. The easy availability of advanced technologies digital payment apps is likely to obstruct the cash logistics market.
Market Segmentation
The global cash logistics market is segmented based on the service and end-user:
The cash-in-transit service segment spearheads the market during the foreseen period. The market players are adopting new technologies to assure the safety and security of the cash-in-transit vehicles fueling the growth. The market players are adopting new technologies to make sure the safety and security of cash-in-transit vehicles help the segment to grow stronger.
The financial institution end-user segment dominates the cash logistics market. The institutions are widely adopting financial solutions due to different advantages like optimal cash, developed transparency, and customization of solutions foster the market growth.
Regional Analysis
In North America, the cash logistics market is said to hold a significant revenue share. The region is witnessing splendid development. Cash is growing in terms of GDP across developed countries like the U.S and Canada. Also, cash management services are in huge demand. In the United States, the cash in circulation remains prominent attributed to the constant use of cash.
Europe is prepared to appear as a profitable revenue pocket for the cash logistics market by 2027. Cash has got a huge demand in households and monetary financial institutions and businesses. The growing rate of cash-in-transit attacks throughout the region. As per the European Central Bank reports, the value of euro banknotes in circulation raised from 1.5 trillion USD in 2019 to USD 1.7 trillion by the end of 2020.
The Asia-Pacific market for cash logistics is estimated to record substantial growth during the foretold period. The quick expansion of financial institutions inclusive of banks drives the cash logistics market.
In 2021, as per the State Bank of India (SBI), the currency circulation in India rose from 7.7% in 2020 due to the interest rate and economic growth. The installation of ATMs is snowballing across the developed countries is foreseen to strengthen the market growth.
India and China are said to create growth opportunities in the cash logistics market due to the increasing demand for cash and the mounting number of fully automated cash-in-transit machines.
Latin American market for cash logistics is complicated and common. E-commerce is booming throughout the region. The preloaded truth about e-commerce payments in Latin America is the immensity of cash-based payments in Brazil.
In Brazil, Peru, and Columbia, for example, cash payment methods depicted more than 20% of e-commerce. Mexico and Argentina are close with 19% and 18% cash transactions.
Major vendors in the global Cash Logistics Market
Here are some of the major players operating in the global cash logistics market include:
The novel coronavirus (COVID-19) pandemic has affected many industries. The third wave of the COVID-19 pandemic may restrain the cash logistics market growth. During FY2020, people showed a desire towards cash as a precaution during the growing obstacles posed by the pandemic period.
During the initial phase of the COVID-19 pandemic, lockdowns were imposed to avoid the virus from spreading. Population across the world were advised to maintain social distancing. Cash in payment has witnessed a fall as a small, medium, and large businesses and owners have adopted digital currency for money transactions. The adoption of digital currency has obstructed the cash logistics market in 2020.
Recent Market Developments
Cash Logistics Market - Forecast (2022 - 2027)
Chapter 1. Cash Logistics Market – Scope & Methodology
1.1. Market Segmentation
1.2. Assumptions
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Cash Logistics Market – Executive Summary
2.1. Market Size & Forecast – (2022 – 2027) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2022 - 2027
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Cash Logistics Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Cash Logistics Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Cash Logistics Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Cash Logistics Market – By Service
6.1. Cash Management
6.2. Cash-in-Transits
6.3. ATM Services
Chapter 7 . Cash Logistics Market – By End-User
7.1. Financial Institutions
7.2. Retailers
7.3. Government Agencies
7.4. Others
Chapter 8. Cash Logistics Market , By Geography – Market Size, Forecast, Trends & Insights
8.1. North America
8.1.1. U.S.A
8.2. Canada
8.1.3. Mexico
8.2. Europe
8.2.1. Italy
8.2.2. Spain
8.2.3. Russia
8.2.4. Germany
8.2.5. UK
8.2.6. France
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Japan
8.3.2. South Korea
8.3.3. China
8.3.4. India
8.3.5. Australia & New Zealand
8.3.6. Rest of Asia-Pacific
8.4. Rest of the World
8.4.1. Middle East
8.4.2. Africa
8.4.3. South America
Chapter 9. Cash Logistics Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
9.1. Company 1
9.2. Company 2
9.3. Company 3
9.4. Company 4
9.5. Company 5
9.6. Company 6
9.7. Company 7
9.8. Company 8
9.9. Company 9
9.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Data Collection
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
Data Fusion
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
Data Analysis
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Verification
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.
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