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Global Cash in Transit Services Market: By End Use: Academic Institutions, BFSI, Hospitals, Government Organizations, Retail, Others; Regional Analysis; Historical Market and Forecast (2016-2026); SWOT Analysis; Procurement Strategy; Cost Analysis; Competitive Landscape; Industry Events and Developments
Global Cash in Transit Services Market Outlook
The global cash in transit services market reached a value of almost USD 19.6 billion in 2020. The cash in transit services industry is further expected to grow at a CAGR of 8% between 2021 and 2026 to reach a value of almost USD 31.1 billion by 2026.
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The growth in the global market is driven by the increasing ATM installations, strict banking regulations, and increasing crime rates. The primary buyers of cash in transit services constitute banks, financial institutions, large retailers, and governments. The cash in transit services industry growth in developing market is expected to overshadow the growth in the global market, as they are estimated to triple the growth rate, more than the rate in Europe and North America. The market is led by the Asia Pacific region. The cash in transit services industry has the fastest growth in China and India due to the increasing growth of the ATM market in the forecast period. In the developed markets of the Asia Pacific such as South Korea, Australia, and Japan, the cash in transit services are well established.
The Asia Pacific market is followed by Europe as the second largest market in the industry. The cash in transit services industry in Europe has a high maturity level due to the heavy presence of global players in the region, delivering a broad range of product services, selling CIT services with cash management and ATM maintenance services as a package. In North America, the global service providers offer an extensive service portfolio, whereas the individual domestic players deliver quality services due to local expertise and more accessible sites. The buyers' maturity is high in this region as the cash in transit penetration is huge, along with the engagement of buyers with suppliers on KPIs/SLA-based contracts and emphasis on cost-saving opportunities.
Properties and Applications
Cash in Transit (CIT), also known as cash/valuables in transit (CVIT), refers to the physical transfer of money, including banknotes, coins, credit cards, and items of value from one place to another. By end-use, the market can be divided into:
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- Academic Institutions
- BFSI
- Hospitals
- Government Organizations
- Retail
- Others
The report covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global cash in transit services market is driven by the accelerating crime rates, which has resulted in the increased demand for specialist service providers all over the world. These specialists provide cash handling services and securely perform transaction services with precision. Outsourcing cash services to a specialist service provider is mainly done for continuous technology implementation. For example, CIT Tracker, a device hidden covertly during the cash transit process, alerts the security personnel when theft occurs. This device also supports the process of asset recovery and criminal apprehension.
The cash in transit services market is aided by the robust growth of ATM installation in the developing regions. For example, in the Asia Pacific region the growth rate for ATM installation is expected to increase in the forecast period, providing impetus to the market of cash in transit services. Due to several laws and regulations being made in the context of cash in transit services, the outsourcing of these services is being driven to the specialist service providers, enhancing the market for cash in transit services. Bank authorities have hardened the regulations for cash movement from one location to another, thus, further propelling the market growth.
In Latin America, the suppliers' maturity is at a medium level. The global suppliers solely can provide integrated cash services, whereas domestic suppliers deliver just cash transportation. The cash in transit services industry in the Middle East and Africa (MEA), have slightly varying maturity levels. Africa, due to the lack of regulations and infrastructure for the execution of professional cash management services. In the Asia Pacific, the presence of global service providers and regional service providers is uneven, whereas the presence of local service providers is high. The modern retail and large corporate houses are adopting the outsourcing of these services as they realise the cost-saving opportunities and compliance with regulations.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global cash in transit services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Brink's, Incorporated
- G4S Plc
- Loomis Armored US, LLC
- GardaWorld Corporation
- Prosegur Cash
- Linfox Armaguard Pty Ltd
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
*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.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Cash in Transit Services Market Analysis
6.1 Figure: Global Cash in Transit Service Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Cash in Transit Services Market Breakup by End Use
6.2.1 Academic Institutions
6.2.2 BFSI
6.2.3 Hospitals
6.2.4 Government Organizations
6.2.5 Retail
6.2.6 Others
6.3 Chart: Global Cash in Transit Services Market Breakup by End Use: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.1 Academic Institutions
6.3.2 BFSI
6.3.3 Hospitals
6.3.4 Government Organizations
6.3.5 Retail
6.3.6 Others
6.4 Chart: Global Cash in Transit Services Market Breakup by Region
6.4.1 North America
6.4.1.1 United State of America
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 France
6.4.2.4 Italy
6.4.2.5 Others
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 India
6.4.3.4 ASEAN
6.4.3.5 Others
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Others
6.4.5 Middle East and Africa
6.4.5.1 Saudi Arabia
6.4.5.2 United Arab Emirates
6.4.5.3 Nigeria
6.4.5.4 South Africa
6.4.5.5 Others
6.5 Figure: Global Cash in Transit Services Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 North America
6.5.1.1 United State of America
6.5.1.2 Canada
6.5.2 Europe
6.5.2.1 United Kingdom
6.5.2.2 Germany
6.5.2.3 France
6.5.2.4 Italy
6.5.2.5 Others
6.5.3 Asia Pacific
6.5.3.1 China
6.5.3.2 Japan
6.5.3.3 India
6.5.3.4 ASEAN
6.5.3.5 Others
6.5.4 Latin America
6.5.4.1 Brazil
6.5.4.2 Argentina
6.5.4.3 Mexico
6.5.4.4 Others
6.5.5 Middle East and Africa
6.5.5.1 Saudi Arabia
6.5.5.2 United Arab Emirates
6.5.5.3 Nigeria
6.5.5.4 South Africa
6.5.5.5 Others
7 SWOT Analysis
7.1 Overview
7.2 Strengths
7.3 Weaknesses
7.4 Opportunities
7.5 Threats
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
8.6 Substitutes
9 Operational Regulations
10 EMR’s Key Indicators for Demand
11 EMR’s Key Indicators for Price
12 Procurement Strategy
12.1 Sourcing Model
12.2 Contract Model
12.3 Pricing Model
13 Cost Analysis
13.1 Labour and Training Cost
13.2 Operation and Maintenance Cost
13.3 Technology Cost
13.4 Insurance Cost
13.5 Other Costs
14 Competitive Landscape & Supplier Analysis
14.1 Brink's, Incorporated
14.1.1 Company Overview
14.1.2 Financial Analysis
14.2 G4S Plc
14.2.1 Company Overview
14.2.2 Financial Analysis
14.3 Loomis Armored US, LLC
14.3.1 Company Overview
14.3.2 Financial Analysis
14.4 GardaWorld Corporation
14.4.1 Company Overview
14.4.2 Financial Analysis
14.5 Prosegur Cash
14.5.1 Company Overview
14.5.2 Financial Analysis
14.6 Linfox Armaguard Pty Ltd
14.6.1 Company Overview
14.6.2 Financial Analysis
14.7 Others
15 Industry Events and Developments
Analyst Review
The global cash in transit services market attained a value of nearly USD 19.6 billion in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 8%. The market is projected to reach a value of around USD 31.1 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on end-use, the market can be segmented into academic institutions, BFSI, hospitals, government organizations, and retail industries, among others. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the market, with the Asia Pacific leading the overall global market. The key players in the above industry are Brink's, Incorporated, G4S Plc, Loomis Armored US, LLC, GardaWorld Corporation, Prosegur Cash, and Linfox Armaguard Pty Ltd, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, rising ATM installations, greater regulations, and increasing outsourcing of cash management services are driving the growth of the industry globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
- How has the global cash in transit services industry performed in the previous years (2016-2020)?
- What is the forecast assessment of the market for 2021-2026?
- What are the major industry drivers and constraints?
- Who are the key players in the global cash in transit services industry?
- What is the degree of competition in the global cash in transit services industry?
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