The worldwide secure logistics market was estimated at nearly USD 48.2 billion in 2015. It is expected to reach nearly USD 109.2 billion by 2025; according to a new report by Grand View Research, Inc. Heightened security concerns in banks and the corporate sector can induce the need for secure currency management & movement over the forecast period (2014 to 2025).
Rapid technological advancements and deregulations of financial services are compelling the global banking industry to bring about certain imperative changes. The banking industry in emerging economies is highly protected & regulated. Besides high entry barriers for foreign & domestic players, deposits too are highly regulated. Macroeconomic pressures and technological advancements have coaxed the banking industry to cater to foreign competition over the past couple of years.
Brazil, Russia, India, China, & South Africa (BRICS) are predicted to witness large inflows of Foreign Direct Investments (FDIs). Increasing globalization, presence of skilled labor, and a large population of young consumers may play vital roles in propelling these regional markets. Furthermore, wealth management and a large base of High Net-worth Individuals (HNIs) in these regions can also positively influence the banking sector. HNIs invest heavily in real estate, cash deposits, equities, and debt portfolios. State Bank of India (SBI) is gradually directing its efforts towards wealth management, retail banking, and personal banking services in order to tap into these HNI resources.
In-depth research report on global secure logistics market - http://www.grandviewresearch.com/industry-analysis/secure-logistics-market
The global secure logistics market is divided into applications, types, and regions. Applications are split into manufacturing, diamonds, jewelry, & precious metals, and cash management among others (retail and public infrastructure). The cash management segment led the industry in 2015. It may continue leading the overall market during the forecast period. Cash management applications involve cash processing, cash-in-transit, and ATM services. Growing importance of cash management owes to the rapid proliferation of automated teller machines (ATMs) in emerging economies.
Cash-in transit involves the transportation of money from banks and delivery of the same to designated cash points, like ATMs. Service providers use armored trucks for the transportation of valuables to increase security and reduce the risk of theft.
Based on types, the market is bifurcated into mobile and static. The mobile segment may exhibit the highest growth rate in the coming years. This growth can be attributed to significant advancements in secure journey management services. These service providers offer vehicles equipped with satellite communication systems, radios, and electronic countermeasures. Electronic safes are mostly used by financial institutions to decrease management downtime. Safe manufacturers work in conjunction with service providers to offer a range of electronic safe services.
Regions in the global secure logistics market are North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). With a nearly 44% market share, Europe led the overall industry in 2015. Proliferation of ATMs in emerging countries, such as Iran, Brazil, and Nigeria can spur the demand for newer ATMs due to the proliferation of financial institutions in the region.
Cargo Guard Secure Logistics, CMS Infosystems Pvt. Ltd., Brink’s, and Cargo Guard Secure Logistics are some of the leading players in the worldwide secure logistics market. These companies often take to mergers & acquisitions in order to improve their product portfolios and prosper in the long run. Brink’s signed an agreement with Starboard Value LP to acquire around 12.3% of the company’s common stock.
The Australian Federal Police and customs jointly developed the “Reduce Aviation Freight Theft (RAFT)” project to look into aviation thefts in Australia. The Transported Asset Protection Association (TAPA) forum was created to unite freight carriers, law enforcement agencies, global manufacturers, logistics providers, and other stakeholders to reduce losses incurred in international supply chains.