The Secure Logistics Market is estimated to be valued at US$ 89.94 Bn or Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: - Secure logistics refers to transportation and storage of valuables through armored vehicles and vault storage. Companies operating in this market provide security services during transportation of cash, diamonds, jewelry and other valuable items. They use techniques like armed guards, trackers, security seals and cameras to prevent theft during transit. The services are widely used by banks, retailers and enterprises for securely handling cash in transit. Market Dynamics: - Growing e-commerce industry globally is a key factor driving growth of secure logistics market. Surge in online shopping has increased demand for secure cash handling, transportation of products as well as delivery of goods to customers' doorstep. According to United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales reached $25.6 trillion in 2019 and this is expected to catalyze demand for secure logistics over the forecast period. Second major factor fueling the market growth is increased cash transactions in developing economies. Rapid urbanization and rising disposable income has boosted utilization of paper currency in countries like India, Brazil and South Africa. This wide circulation of cash requires secure logistics facilities for transportation as well as deposits and withdrawals from banks and ATMs. Therefore, growth in cash-intensive economies is estimated to support expansion of secure logistics market during the forecast period. Segment Analysis: - The secure logistics market is dominated by the cash-in-transit segment. This segment accounts for over 45% of the total market share due to the large volume of cash to be transported between banks, ATMs, retail stores, and other establishments every day. Cash handling requires specialized logistics capabilities and security features like armored vehicles, armed guards, and high-security storage that make it the most profitable segment in this industry. PEST Analysis: - · Political: - Regulations around cash handling, firearms licensing, and security practices determine the operating guidelines for secure logistics companies. Recent policy changes have imposed stricter accountability. · Economic: - Economic growth drives the demand for logistics and cash handling services. During recession, reduced business activity decreases the revenue opportunity. · Social: - Changes in consumer preference towards digital payments pose a challenge. However, cash continues to dominate in certain countries and industries. · Technological: - Technologies like GPS tracking and biometrics are enhancing security and transparency. However, digitization also increases the risks of cyberattacks. Key Takeaways: - The Global Secure Logistics Market Demand is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing digitization of payments and adoption of e-commerce. The market size for 2023 is estimated to reach US$ 89.94 billion. North America accounts for over 35% of the global market share due to large cash circulation and presence of major logistics companies. Asia Pacific is the fastest growing region owing to rapidly increasing e-commerce and digital payments in countries like China, India. Key players operating in the secure logistics market include Garda World, Brinks, Securitas, G4s, and Loomis. Garda World and Brinks control over 20% of the market between them due to strong cash logistics networks across major economies. Securitas and G4s have significant market share in security staffing and security systems segments. Read More - https://www.newsstatix.com/secure-logistics-market-size-and-trends-analysis/
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