Allied Market Research (AMR), a global market research firm, recently released its latest Cash Logistics Market report. The report finds that “The global cash logistics market was valued at $16.83 billion in 2020, and is projected to reach $33.28 billion by 2030, registering a CAGR of 6.9% from 2021 to 2030.”
What is the Cash Logistics Market?
Cash logistics refers to the physical movement and handling of cash from one locale to another. “It primarily manages, transports, and protects the funds by eliminating risks & public exposure. The cash logistics mainly consists of cash-in-transit, cash management, and ATM replenishment services. The locations include cash centers & bank branches, ATM points, large retailers, and other premises. The organizations specialized in the transportation & processing of cash from one location to another are included in cash-in-transit services.”
Cash management, which goes hand in hand with cash logistics, refers to the process of collecting and managing cash flows, wrapping and sorting cash, and checking the quality of the bills.
The cash logistic market, therefore, incorporates factors such as the amount of cash in circulation, the rise or fall in demand for vaulted cash and cash management, an increase in ATM deployment to handle the increased need for accessible cash, etc. There are also security considerations, including the safety of cash-in-transit.
The report found that while robberies and the growth of digital payments are impeding growth, an increase in ATM deployment and cash in circulation are the major drivers of the market growth.
All of these considerations led to the predicted growth expected by 2030.