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The Latin America cash in transit services market attained a value of about USD 1,764 million in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 9.1% to reach nearly USD 2,975 million by 2026.
The extensive use of cash in the Latin American economy is increasing the demand for cash in transit, which is augmenting the market growth. Although alternatives such as credit cards, online banking, and mobile banking are available in the region, transactions through cash dominate in the region. This is increasing the requirement for secure transfer of cash, hence augmenting the market growth of cash in transit services. Moreover, the high numbers of unbanked consumers owing to socioeconomic constraints in the region is also increasing the reliance on physical currency, hence invigorating the industry growth. As the informal sector is one of the largest sectors in Latin America, the demand for cash in transit services is surging, which is providing further impetus to the market growth.
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The wide acceptance of cash in the retail sector in the region is increasing the demand for efficient cash in transit services to prevent thefts or robberies during the transfer of cash. The low-income levels and the high costs associated with digital transactions are increasing the use of cash in various end uses, therefore catalysing the industry growth. In addition, the lack of competition among payment service providers owing to limited competition in the region is decreasing the adoption of digital payment methods, which is further fuelling the market growth of cash in transit services due to the extensive acceptance of cash by retailers.
Cash in transit services refers to services that enable the physical transfer of coins, banknotes, and valuables. The services include cash deposit and pickup, verification, and secure transportation from locations, such as banks, retail stores, cash centres, and automatic tailor machines (ATMs), among others.
The major end uses of cash in transit services are:
The EMR report looks into the regional markets of cash in transit services in Latin America like Brazil, Argentina, and Mexico, among others.
The increasing demand for cash in transit services by casinos in the region is augmenting the market growth. The high prevalence of legal gambling, such as sports betting, is also surging the demand for optimal cash management owing to the extensive use of cash. Moreover, the high prevalence of illegal gambling in the region is further increasing the reliance on cash, hence propelling the growth of the cash in transit services industry.
The introduction of various favourable governments’ initiatives, especially in Brazil and Colombia, to regulate gambling activities is expected to drive the market growth. This is also projected to surge the consumer base of casinos, thus accelerating the demand for efficient cash flow. Hence, major casinos in the region are increasingly outsourcing cash transfers to cash in transit services, which is anticipated to aid the growth of the market. The robust growth of casinos is expected to be further fuelled by the trend of gambling tourism, which is estimated to significantly contribute to the market for cash in transit services in Latin America in the forecast period.
The report presents a detailed analysis of the following key players in the Latin America cash in transit services market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End Use, Country|
|Breakup by End Use||Retail, Financial Institutes, Casino, Government Agencies, Hospitals and Hotels, Others|
|Breakup by Country||Brazil, Argentina, Mexico, Others|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Grupo Protégé, Brink's Incorporated., Loomis AB, The Prosegur Group, G4S Limited, 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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6.1 Latin America
7 Industry Opportunities and Challenges
8 Latin America Cash in Transit Services Market Analysis
8.1 Key Industry Highlights
8.2 Latin America Cash in Transit Services Historical Market (2016-2020)
8.3 Latin America Cash in Transit Services Market Forecast (2021-2026)
8.4 Latin America Cash in Transit Services Market by End Use
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2016-2020)
184.108.40.206 Forecast Trend (2021-2026)
8.4.2 Financial Institutes
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2016-2020)
22.214.171.124 Forecast Trend (2021-2026)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2016-2020)
184.108.40.206 Forecast Trend (2021-2026)
8.4.4 Government Agencies
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2016-2020)
22.214.171.124 Forecast Trend (2021-2026)
8.4.5 Hospitals and Hotels
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2016-2020)
184.108.40.206 Forecast Trend (2021-2026)
8.5 Latin America Cash in Transit Services Market by Country
8.5.1 Market Share
9 Regional Analysis
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
10 Market Dynamics
10.1 SWOT Analysis
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
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Grupo Protégé
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
11.2.2 Brink's Incorporated.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.3 Loomis AB
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
11.2.4 The Prosegur Group
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.5 G4S Limited
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12 Industry Events and Developments
List of Figures and Tables
1. Latin America Cash in Transit Services Market: Key Industry Highlights, 2016 and 2026
2. Latin America Cash in Transit Services Historical Market: Breakup by End Use (USD Million), 2016-2020
3. Latin America Cash in Transit Services Market Forecast: Breakup by End Use (USD Million), 2021-2026
4. Latin America Cash in Transit Services Historical Market: Breakup by Country (USD Million), 2016-2020
5. Latin America Cash in Transit Services Market Forecast: Breakup by Country (USD Million), 2021-2026
6. Latin America Cash in Transit Services Market Structure
In 2020, the Latin America cash in transit services market attained a value of nearly USD 1,764 million.
The market is projected to grow at a CAGR of 9.1% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 2,975 million by 2026.
The market is being aided by the extensive use of cash, the high number of unbanked consumers, and the wide acceptance of cash payments in the retail industry in Latin America.
The industry is projected to be augmented by the growing demand for cash in transit services in casinos, the trend of gambling tourism, and the increasing regulations on gambling by the government.
The major regions in the industry are Brazil, Mexico, and Argentina, among others.
The major end uses of cash in transit services in the industry are retail, financial institutes, casino, government agencies, and hospitals and hotels, among others.
The major players in the industry are Grupo Protégé, Brink's Incorporated., Loomis AB, The Prosegur Group, and G4S Limited, among others.
The Latin America cash in transit services market attained a value of nearly USD 1,764 million in 2020, driven by the extensive use of cash in the region. Aided by the growing demand for cash in transit services in casinos, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 9.1%. The market is projected to reach about USD 2,975 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its end uses, the cash in transit services industry can be segmented into retail, financial institutes, casino, government agencies, and hospitals and hotels, among others. The major regional markets for cash in transit services in Latin America are Brazil, Argentina, and Mexico, among others. The key players in the above market include Grupo Protégé, Brink's Incorporated., Loomis AB, The Prosegur Group, and G4S Limited, 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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