Cash Logistics Market Likely To Touch At .36 Billion By 2030: Grand View Research Inc.Posted by Mrudula Anil Karmarkar on October 11th, 2023 San Francisco, 10 October 2023: The ReportCash Logistics Market Size, Share & Trends Analysis Report By Service, By End Use (Financial Institutions, Government Agencies, Retail), By Region, And Segment Forecasts, 2022 - 2030 The global cash logistics market size is anticipated to reach USD 46.36 billion by 2030, registering a CAGR of 8.2% from 2022 to 2030, according to a new report by Grand View Research Inc. The growing demand for efficient cash management solutions such as intelligent vaults and fully automated cash-in-transit vehicles to enhance operational functionality and flexibility are the major factors driving the growth of the market. In addition, the growing need for security in currency handling activities is expected to gain high momentum over the forecast period. The rising integration of Artificial Intelligence (AI) into cash management solutions to prevent fraud is also expected to contribute to the growth of the market. Several biometric solution providers are focusing on developing new features and functions, such as secure software for efficient cash management solutions and automatic cash handling services for better security. Companies such as Brink's Incorporated, CMS Info Systems Ltd., and Prosegur Cash SA have developed AI-based solutions to enhance the customer experience as per the changing needs of customers. Cash management solution providers are acquiring ATM service-providing companies to expand their reach. For instance, in April 2021, Brink's Company, a cash management solution company, announced the acquisition of PAI, Inc., a U.S.-based privately-owned ATM services provider, for USD 213 million to expand its reach in the U.S. Advanced technologies complement the benefits of cash-in-transit vehicles. Several vehicle manufacturers are developing electric armored money transporter for the safety of employees. For instance, in August 2020, MAN, a commercial vehicle provider, introduced a MAN eTGE electric van, an electrically armored money transporter, to Prosegur, an international security service provider. The COVID-19 pandemic has adversely impacted the growth of the cash logistics industry owing to the supply chain disruptions. However, cash logistics companies are recovering and are focusing on integrating advanced functionalities and features into their products to attract customers and expand their client base. Additionally, technological advancements have led to the development of contactless ATMs, which are marketed as a risk-free way of withdrawing cash amid the COVID-19 Pandemic. Such technological advancements are expected to boost the adoption of ATMs, which, in turn, is anticipated to propel market growth over the forecast period. Request sample report of Cash Logistics Market@https://www.grandviewresearch.com/industry-analysis/cash-logistics-market/request/rs1 Factors such as the growing cash transactions, rise in the demand for the presence of ATMs, and surge in demand for the cash vaults are the major factors boosting the global logistics market. Additionally, an increase in the number of ATMs by banks in the urban as well as the rural areas to offer better services to the customer is also expected to create lucrative growth opportunities for the market over the forecast period. Subsequently, the cash needs to be moved periodically, and hence its safe and reliable transportation is of huge concern. Therefore, automated processes play a significant role in resolving challenges in logistics. Cash Logistics Market Report Highlights
Customers worldwide prefer cash as a payment option owing to the convenience factor. With the technological advancements, customers are seeking reliable, faster, secure, and convenient means of accessing cash. Moreover, improved security measures, including one-time password authentication and biometric systems to prevent fraud, and the advent of Smart ATMs for users with special needs are propelling the growth of the market. The increase in demand for automation in the banking sector of several developed and emerging countries is expected to fuel the deployment of ATMs. Cash Logistics Market Report Scope
List of Key Players in the Cash Logistics Market
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