Cash Logistics Market to reach $31.6 billion by 2030; Rising security concerns, advancements in optical and infrared technologies, increased defense spending, and growing applications in military, surveillance, and outdoor activities are fuelling the

The Cash Logistics Market size is estimated to reach $31.6 billion by 2030, growing at a CAGR of 5.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Cash Logistics Market – By Services ( Cash In Transit, Cash Management, ATM Services, Secure Storage and Others), By Technology (Traditional and Automated), By Mode of Transit (Roadways, Railways and Airways), By End-User (Financial Institutions, Retailers, Government Agencies, Casinos and Gaming and Others) and By Geography Analysis - Global Opportunity Analysis & Industry Forecast, 2024-2030.

The expansion of financial services and ATMs is driving the demand as more businesses and consumers require efficient ways to handle, store, and transport cash. The increasing reliance on cash management systems also fueling future expansion in the cash logistics and financial sectors, prompting innovation and the adoption of advanced technologies to improve efficiency, security, and service delivery.

In 2023, the North America region held the largest share in the Cash Logistics Market, particularly the United States and Canada, is a leader in the cash logistics market due to strong infrastructure, technological advancements, and a continuing reliance on cash in certain sectors. In the United States, organizations like GS1 US, a key information standards body, play a significant role in improving cash logistics operations. GS1 US collaborates with the Federal Reserve and the financial services community to develop data standards and best practices for cash handling with greater visibility and improved accuracy in cash management, especially for intensive cash users and businesses. Also in Canada, the cash logistics market thrives due to a strong reliance on cash in specific regions and demographics. According to a report by Payments Canada in October 2024, the country reached $11.9 trillion in retail payment transactions, with 21.7 billion transactions in 2023, a six percent increase year-over-year. Notably, cash usage saw a 15 percent increase by volume, highlighting the enduring importance of physical currency in Canada. Almost half of all Canadians (49 percent) continued to use cash frequently in 2023, underlining the demand for secure and efficient cash logistics services. As cash remains a preferred payment method for many Canadians, especially in retail and smaller transactions, the market for cash logistics services in Canada continues to grow, driven by both traditional cash users and those who rely on it for security during economic uncertainty.

The expansion of financial services and ATMs is significantly driving the growth of the cash logistics market by increasing the demand for efficient and secure cash management solutions. For example, the proliferation of ATMs enhances customer access to banking services and necessitates reliable cash replenishment and management. In India, the rapid increase in ATM installations by banks to improve financial inclusion has led to a heightened need for advanced cash logistics services. Similarly, in the United States, major banks are continually expanding their ATM networks to provide better service coverage, which in turn fuels the demand for sophisticated cash handling solutions. For instance, in August 2024, banking solutions provider NCR Atleos announced that the Credit Union of America (CUA) joined its Allpoint Network, expanding member access to cash. As CUA grows and expands geographically, it sought a solution to provide its members with convenient physical touchpoints for cash withdrawals and other financial services. Atleos’ Allpoint Network allows CUA’s members to access over 55,000 surcharge-free ATMs where they already live, shop, and travel, further underscoring the need for robust cash logistics infrastructure to support an expanding network of financial services and ATMs.

To meet the rising demands for efficiency and security in cash handling, businesses and financial institutions are increasingly turning to sophisticated cash management solutions. These include secure transportation networks, advanced cash processing technologies, and automated cash handling systems. Driving this need are factors such as the challenges of managing large amounts of cash, the desire to cut operational costs, and the imperative to safeguard against theft and fraud.  The 2023 Payments Survey by the British Retail Consortium indicates that cash usage has risen for the first time in ten years, as households seek to manage their budgets more effectively. This trend persisted and in January 2024, the Nationwide Building Society reported approximately 31.4 million cash withdrawals from its network of over 1,200 ATMs in 2023, marking a four percent increase from 2022.Additionally, stricter regulatory compliance requirements compel businesses to implement more advanced solutions to ensure accurate tracking and reporting of cash flows. The push for greater operational efficiency further accelerates the adoption of automated systems, which minimize human error, speed up cash processing, and improve accuracy. Moreover, in high-volume retail and service environments, efficient cash handling systems contribute to faster transaction times and enhanced customer service, ultimately leading to a better customer experience and increased satisfaction.

Brink's Incorporated, Loomis AB, Cash Logistik Security AG, AGS Transact Technologies Ltd., Global Security Logistic Co., Linfox Pty Ltd., Allied Universal, CMS Info Systems Ltd., General Secure Logistic Services, Prosegur and others.

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