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Global Cash in Transit Services Market to Grow at a CAGR of 8% in the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Cash in Transit Services Market Report and Forecast 2022-2027’, the global cash in transit services market attained a value of USD 19.6 billion in 2020. The market is likely to grow at a rapid rate in the forecast period of 2022-2027, growing at a CAGR of 8% to attain a value of USD 31.1 billion by 2026.

The global cash in transit service market is being driven by the rising crime rates as well as growing ATM installations, especially in the developing nations. A substantial proportion of consumers globally conduct purchases via physical cash payments. Banks, financial institutions, large retailers and governments are the main consumers of cash in transit services.

The high maturity markets for cash in transit services include North America and the Western Europe. The regions with high growth potential include India, China, Eastern Europe, Latin America, South Africa, and New Zealand. The demand in these regions is expected to grow more robustly than the high maturity regions in the coming years.

The market growth is also supported by the M&A activities taking place among the major players in the industry. In May 2018, Brink's Incorporated (NYSE: BCO), one of the key players, announced that it would purchase the rival company Dunbar Armored, Inc., one of the leading companies in the industry in the United States. The acquisition has allowed Brink to expand its profit margins while strengthening their foothold in the United States market.

Market Analysis by End Use and Regions:

  • Based on end use, the market is expected to be segmented into academic institutions, BFSI, hospitals, government organisations, and retail sectors, among others.
  • The major regional markets for cash in transit services include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global cash in transit services market is driven by the increasing demand for secure transaction services owing to the rising crimes.
  • The cash in transit services is boosted by the rising installations of ATMs, especially in developing nations like the Asia Pacific region.
  • The market is also being favoured by certain laws and regulations implemented by governments across the globe, focussed on making cash withdrawals and transaction more accessible to people in remote locations.
  • The stringent regulations of the bank authorities on cash movement and transactions are also propelling the market growth.

Key Offerings of the Report:

  • The EMR report provides an overview of the global cash in transit services market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the end-uses and regional markets in the cash in transit services industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

The major key players in the global cash in transit services market include Brink’s Incorporated, G4S Limited, Gardaworld Corporation, Loomis Armored US, LLC, Linfox Armaguard Pty, Ltd., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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