Published Date : 24 Apr 2023
The global secure logistics industry size will attain around USD 168.98 billion by 2032 from valued at USD 81.37 billion in 2022, it is growing at a remarkable CAGR of 7.58% throughout the projection period 2023 to 2032.
The secure logistics industry growth is driven by the growing e-commerce industry, the growing penetration of mobile payments & online banking, and the technological improvements with a skilled workforce.
Logistics and security operations are typically designed to facilitate the safe management and transportation of people, goods and services, technology, and other assets from their point of start to their final location. In some cases, fixed locations can employ comparable strategies. Modern computer systems are required for this process. Secure operations are beneficial for cash administration. The cash transportation network includes the physical movement of cash from one location to another. Among the services offered are secure cash operations, secured cash transport, bank ATM services, jewels transportation, and management systems.
Europe is expected to dominate the industry during the forecast period. Regional development is anticipated to be boosted by the rising use of ATMs worldwide and in emerging countries. A wide variety of safe logistics possibilities are made possible by the increased trade and cash flow among European nations.
The Asia Pacific is expected to grow at the highest CAGR during the forecast period due to factors like escalating ATM demand, the growth of financial institutions, and growing freight theft.
North America is expected to grow at a significant rate over the forecast period due to the prevalence of cash interactions and the preferred method of payment by consumers. However, the North American industry suffered sizable economic losses in the first two quarters of 2020 as a result of the high number of COVID-19 instances, particularly in the U.S. The slowdown in economic development had a direct effect on the logistics supply network in the region. However, players in the logistics and supply-chain business place a significant stress on digital technologies in order to deal with losses and sustain commercial operations. A number of transportation companies are focusing their efforts on seizing hiring chances and making investments in digital technologies. This is anticipated to fuel the North American logistics supply chain industry's digitization.
Secure Logistics Industry Report Scope:
|Market Size in 2022||USD 81.37 Billion|
|Projected Forecast Value in 2032||USD 168.98 Billion|
|Growth Rate||7.58% from 2023 to 2032|
|Fastest Growing Market||Europe|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Growing BFSI sector in emerging economies
The recent liberalization of financial services and developments in technology have had a major impact on the global banking industry. In emerging countries, banking has historically been a very protected sector with controlled assets and stringent entry standards for both domestic and international investors. But as macroeconomic pressures and technical advancements in the banking sector increased, local players were compelled to make their industry places more open to outside competitors.
There are high expectations for significant foreign direct investment in the BRICS countries, which include Brazil, Russia, India, China, and South Africa. (FDI). A number of variables, including an increase in the number of youthful customers, a rising skilled labor force, and increased globalization, are responsible for the BFSI sector's growth in emerging countries.
Increasing usage of payments from mobile
The way we make payments is changing as a result of technological developments like NFC, EMV processors, and other wireless devices. Due to the availability of better data and payment systems, this change offers a significant chance for mobile commerce. Online smartphone commerce is becoming more and more common due to an expanding customer base.
The industry for mobile payments is anticipated to be driven by the rise of mobile devices like Apple Pay, Google Pay, and Samsung Pay. Point-of-sale systems that take mobile payments as well as incentives like loyalty programs and promos are being extensively used to draw in new users. As a result, more and more individuals are using digital payments instead of currency. Over the course of the projection term, however, this trend is anticipated to limit industrial development.
Increasing cash-in-transit heists as well as theft of freight
Over the past ten years, robberies and heists involving global operations have steadily increased. For instance, until February 2020, South Africa had at least one Cash-In-Transit (CIT) heist, with 35 such heists being recorded nationally and 21 in Gauteng alone. On-road thefts are on the increase in cities like Cape Town and Boksburg, which is worrying consumers from a variety of sectors, including banking, retail, and valuable metals, while they are traveling.
These businesses still suffer losses from larceny despite carrying out their logistics operations, frequently as a result of insufficient security employees and antiquated technology. As a result, there is a rising need for trustworthy transportation services to handle these security concerns. Armored cars, cross-border transport, staffed security, ATM administration, secure storage, cash-in-transit, and replenishment are just a few of the contracting services that secure transportation companies provide.
In order to reduce the dangers of theft and other breaches of security during the shipping and management of products and assets, businesses are increasingly concentrating on safe logistics services.
Major Key Players:
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