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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 (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Procurement Strategy; 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 Limited
- Gardaworld Corporation
- Loomis Armored US, LLC
- Linfox Armaguard Pty, Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End Use, Region |
| Breakup by End Use | Academic Institutions, BFSI, Hospitals, Government Organizations, Retail, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered |
Brink’s Incorporated, G4S Limited, Gardaworld Corporation, Loomis Armored US, LLC, Linfox Armaguard Pty, Ltd., Others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Cash in Transit Services Market Analysis
8.1 Key Industry Highlights
8.2 Global Cash in Transit Services Historical Market (2017-2021)
8.3 Global Cash in Transit Services Market Forecast (2022-2027)
8.4 Global Cash in Transit Services Market by End Use
8.4.1 Academic Institution
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 BFSI
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Hospitals
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Government Organizations
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Retail
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2017-2021)
8.4.5.3 Forecast Trend (2022-2027)
8.4.6 Others
8.5 Global Cash in Transit Services Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Operational Regulations
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Brink’s Incorporated
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 G4S Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Gardaworld Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Loomis Armored US, LLC
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Linfox Armaguard Pty, Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Cash in Transit Services Market: Key Industry Highlights, 2017 and 2027
2. Global Cash in Transit Services Historical Market: Breakup by End Use (USD Billion), 2017-2021
3. Global Cash in Transit Services Market Forecast: Breakup by End Use (USD Billion), 2022-2027
4. Global Cash in Transit Services Historical Market: Breakup by Region (USD Billion), 2017-2021
5. Global Cash in Transit Services Market Forecast: Breakup by Region (USD Billion), 2022-2027
6. North America Global Cash in Transit Services Historical Market: Breakup by Country (USD Billion), 2017-2021
7. North America Global Cash in Transit Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
8. Europe Global Cash in Transit Services Historical Market: Breakup by Country (USD Billion), 2017-2021
9. Europe Global Cash in Transit Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Asia Pacific Global Cash in Transit Services Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Asia Pacific Global Cash in Transit Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Latin America Global Cash in Transit Services Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Latin America Global Cash in Transit Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Middle East and Africa Global Cash in Transit Services Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Middle East and Africa Global Cash in Transit Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Global Cash in Transit Services Market Structure
Key Questions Answered in the Report
The global cash in transit services market reached a value of USD 19.6 billion in 2020.
The market is projected to grow at a CAGR of nearly 8% in the forecast period of 2022-2027.
The market is estimated to reach a value of about USD 31.1 billion by 2026.
The major drivers of the industry include rising disposable incomes, increasing population, rising crime rates, and the rapid growth of ATM installation.
The strict regulations for cash movement from one location to another by the banks is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading end use sectors for the industry are academic institutions, BFSI, hospitals, government organizations, and retail, among others.
The leading players in the market are Brink’s Incorporated, G4S Limited, Gardaworld Corporation, Loomis Armored US, LLC, Linfox Armaguard Pty, Ltd., among others.
Analyst Review
The global cash in transit services market attained a value of USD 19.6 billion in 2020, driven by the growth in the crime rates. Aided by the strict regulations for cash movement from one location to another, the industry is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 8%. The industry is projected to reach 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 uses, the global market for cash in transit services can be segmented into academic institutions, BFSI, hospitals, government organizations, and retail, among others. The major regional markets for cash in transit services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Brink’s Incorporated, G4S Limited, Gardaworld Corporation, Loomis Armored US, LLC, and Linfox Armaguard Pty, Ltd., among others.
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 market insights that are accurate, actionable, and help them remain ahead of their competition.
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