Published On : 26 Jul 2018
In the past few years, the global banking industry has witnessed a vast surge in demand for safety locks and vaults for the safe storage and maintenance of cash and other numerous varieties of valuables. Fitted with locks, panels, and doors, these vaults have features such as password protected locks, digital locking mechanisms, integrated light switches, and emergency ventilators and are often used for cash logistic purposes. Owing to rising demand for these products, a number of new companies have forayed into the manufacturing of these and other varieties of products essential for safe physical movement and storage of mostly currency notes on behalf of the banks.
The global cash logistics market employs hundreds of thousands of individuals and caters to even larger number of ATMs, currency chests, bank branches for cash replenishment purposes across the globe. The market is expected to exhibit a promising growth trajectory over the next few years, thanks chiefly to the vast rise in demand for ATMs from across the globe. As financial institutions and banks increasingly focus on ways of reducing the safety risks associated with cash logistics, demand for third-party cash management services is expected to rise substantially.
Cash-in-Transit Services Serve the Most Demand
Of the key services in the cash logistics market, including cash management, ATM services, and cash-in-transit, the segment of cash-in-transit, which refers to the physical transfer of currency notes, credit cards, coins, and other valuables from one location to the other, is expected to accounts for the dominant share in the market in the present times. As services involved in this field help bring down the risk associated with transfer of cash, the segment will continue to account for a large share in the overall market in the next few years as well.
Request for more detailed information (TOC And Sample): https://www.qyresearchreports.com/sample/sample.php?rep_id=1068234&type=S
Europe Market for Cash Logistics to Continue to Remain Lucrative
Geographically, the global market for cash logistics presently acquires a large share in its revenue from the Europe market. The regional market is expected to expand at a promising pace over the next few years as well, thanks to the vast rise in the number of ATMs in the region and the mounting rise in the numbers of cash transactions. However, the market in countries/regions such as Southeast Asia, India, and China will exhibit the most promising growth prospects, thanks to the thriving banking sector and a vast rise in private banks in rural areas in the emerging economies across Asia Pacific.
High Number of Players Ensure a Competitive Vendor Landscape
The vendor landscape of the global cash logistics market features the presence of a large number of international as well as regional companies and is characterized by an intense level of competition. Companies are focused on geographical expansion and strategic collaborations with leading regional vendors with the view of gaining a stronger hold on the market. Some of the leading companies in the market are G4S, GardaWorld, Cash Logistik Security, Loomis, Prosegur, CMS Infosystems, Brink's, General Secure Logistics Services, Paragon Security, Lemuir Group, Maltacourt Global Logistics, Securitrans India, and Global Security Logistics.
Top Trending Report: