Global Cash in Transit Services Market: By End Use: Academic Institutions, BFSI, Hospitals, Government Organizations, Retail, Others; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Porter’s Five Forces Analysis; Operational Regulations; EMR’s Key Indicators for Demand; EMR’s Key Indicators for Price; Procurement Strategy; Cost Analysis; Competitive Landscape & Supplier Analysis; Events and Developments

Global Cash in Transit Services Market Key Insight:

Market Outlook

The global cash in transit services market reached a value of almost USD 19.6 billion in 2019. The cash in transit services industry is further expected to grow at a CAGR of 8% between 2020 and 2025 to reach a value of almost USD 31.1 billion by 2025.

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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:

• 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.

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.