Global Secure Logistics Market Grows Steadily at a CAGR of 6.30%

Introduction

Secure logistics were created to increase professionals' confidence in the security system and on-time performance while appropriately meeting customer needs. Secure logistics are in high demand in a world where goods are expensive and time-sensitive. Security worries among businesses and banks have increased the demand for secure logistics and management services for a currency. As a result, secure logistics is an essential building block for cash security.

Market Dynamics

Emerging Economies' Expansion of Banking and Financial Institutions Drives the Global Market

The banking sector has undergone significant global change over the last few decades. This is attributed to the financial services industry's deregulation and technological advancements in banking practices. In the past, banking in emerging economies was a very protected sector, with entrance requirements for domestic and foreign investors and regulated deposits. However, due to macroeconomic pressures and improvements in banking technology, regional players have been forced to open their markets to foreign competition. The growth of the skilled labor force, the acceleration of globalization, and the rise in young consumers are some factors driving the BFSI sector's expansion in these areas.

Development of Fully Automated Cash-In-Transit Vehicles and Technology Integration Creates Tremendous Opportunities

Businesses are providing a greater variety of mobile secure logistics services. These services include robotic or automated guarding in place of manned guarding, driverless secured cars, and armored transport. Logistics service providers also integrate different technologies into their vehicles to improve performance, safety, and dependability. These include automatic doors, automatic climate control, automatic locks, and cruise controls. The service providers use lightweight armoring components and materials to build a sophisticated and robust body shell for the vehicle. These features increase customer security while allowing them to move their money or priceless items quickly and easily.

Regional Analysis

Europe is the most significant shareholder in the global secure logistics market and is expected to grow at a CAGR of 5.59% during the forecast period. The region's growing manufacturing sector, sizable consumer base, and well-established logistics infrastructure contribute to its market share. Both the consumer and automotive markets in Europe are well-known. Increasing central bank initiatives to simplify the cash management process will probably impact the expansion of the secure logistics market in Europe over the forecast period.

Asia-Pacific is expected to grow at a CAGR of 9.91%, generating USD 34,071.54 million during the forecast period. The region's mobile-type segment is expected to expand due to China's quickly developing gold mining sector. Government-sponsored programs like "Make in India" are also expected to strengthen India's manufacturing sector, increasing the demand for secure logistics providers. Additionally, it is anticipated that India's expanding currency bill circulation will impact market growth over the forecast period. Through the Cash Logistics Association, the Reserve Bank of India (RBI) published new rules for cash logistics companies in April 2019. These regulations will improve the security of tax dollars, increase employment in the sector, and bring businesses up to par with international norms and practices.

Key Highlights

• The global secure logistics market was valued at USD 69,578.7 million in 2021. It is expected to reach USD 120,580.11 million by 2030, growing at a CAGR of 6.30% during the forecast period (2022–2030).
• Based on type, the global secure logistics market is bifurcated into static and mobile. The static segment is the highest contributor to the market and is expected to grow at a CAGR of 5.33% during the forecast period.
• Based on application, the global secure logistics market is bifurcated into cash management, diamonds, jewelry and precious metals, and manufacturing. The cash management segment owns the highest market share and is expected to grow at a CAGR of 5.71% during the forecast period.
• Europe is the most significant shareholder in the global secure logistics market and is expected to grow at a CAGR of 5.59% during the forecast period.

Competitive Players

Competitive Players

The global secure logistics market’s major key players are Brink’s Incorporated, CargoGuard GmbH, CMS Info Systems (CMS.COM), G4S plc, GardaWorld, Lemuir Group, Loomis AB, maltacourt, PlanITROI, Inc, and Prosegur.

Recent Developments

Market News

• In October 2022, Brink acquired Note Machine for approximately USD 179 million in order to advance its ATM-managed services strategy.
• In August 2022, Attenti Group, one of the top electronic monitoring companies in the world, was strategically acquired by Allied Universal, the leading global provider of security and facility services.

Segmentation

Global Secure Logistics Market: Segmentation

By Type

• Static
• Mobile

By Applications

• Cash Management
• Diamonds, Jewelry, and Precious Metals
• Manufacturing
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA