The global cash-in-transit services market reached a value of about USD 18.72 billion in 2021. The industry is projected to grow at a CAGR of around 3.8% in the forecast period of 2022-2027 to reach a value of USD 23.34 billion by 2027.
The cash-in-transit services industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. It is anticipated that the industry growth in the emerging economies will surpass the development in the global market since they are expected to have a growth rate three times more than in Europe and North America.
The key demand indicator in the industry report is the highest category spender by region — Asia Pacific.
Cash-in-transit (CIT), also called cash/valuables in transit (CVIT), implies the physical shifting of money, which includes banknotes, coins, credit cards, and other items of value from one destination to another. It mainly manages, transfers, and safeguards the assets and finances by eradicating menaces and public exposure. These organisations that are dedicated to the transporting and processing of cash, move cash to locations such as cash centers and banks, ATM points, big retailers, and other premises. The global cash-in-transit services industry report comprises segments based on its end-use (academic institutions, BFSI, hospitals, government organisations, retail, and others) and regions (North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa).
The Asia Pacific region is leading the cash-in-transit services market. The industry is growing at a faster rate in China and India owing to the rise of the ATM market. In addition, in the emerging market of the Asia Pacific such as South Korea, Australia, and Japan, cash-in-transit services are properly established. The European region holds the second biggest market in the industry. Europe has a high maturity market because of the strong presence of global players in the region, providing a wide range of product services, offering CIT services with cash management and ATM maintenance services as a package. The major driver propelling the global cash-in-transit services market is the rising number of ATM installations, stringent banking guidelines, and growing crime rates. The major consumers of the services comprise banks, financial institutions, large retailers, and governments.
On the other hand, there has been a rise in the occurrences of cash-in-transit vehicle robberies, and the acceptance of digital money may hinder the development of the market at some level. Nonetheless, the advent of fully automated cash-in-transit transportation is projected to generate beneficial prospects in the industry.
The global cash-in-transit services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by cash-in-transit services providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.
A large number of cash-in-transit organisations are private security organisations that provide cash handling as part of their services. The CIT companies by law come under logistics segment of companies in the private security industry and hence need to abide by the transport and security legislation. The industry is governed by national, regional, and local laws, social regulations, and existing practices. Laws and rules can enforce conditions and limitations on the use of firearms, types of vehicles, a bare minimum number of crew members, and the use of intelligent banknote neutralisation systems. CIT services can be conducted in soft-skinned, semi-armoured, or armoured vehicles.
The high crime rates have resulted in the rising demand for specialist service providers across the globe. This has become the major driver for the growth of global cash-in-transit services. Moreover, these professionals serve the other end-use industries with cash handling services and firmly perform the transaction services with accuracy. There is a continuous technology implementation by the professional service providers while delivering services to their client companies for instance CIT Tracker, a tool hidden secretly during the cash transit process that notifies the security personnel when a theft happens. Moreover, the cash-in-transit services market is also bolstered by the vigorous growth of ATM installation in emerging regions such as the rise in the growth rate of ATM installation in the Asia Pacific region is anticipated to increase in the upcoming years, providing momentum to the market.
The major zones in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Due to the growth in the circulation of money in the economy has resulted in the rise of the need for cash-in-transit services. The utilisation of the specialised services helps in efficient cash management, less time consumption and chance of errors, and effective cash flow. The prominent customers of the services comprise banks, financial institutions, large retailers, and governments.
1. Executive Summary
2. Australia Cash in Transit Market Snapshot
2.1. Cash in Transit Market Outlook
2.2. Country Overview
2.2.1. New South Wales
2.2.3. South Australia
3. Impact of Recent Events
4. Cash in Transit Value Chain Analysis
5. Major Risk Factors in Sourcing
6. Cash in Transit Price Analysis
7. Key Demand Indicator Analysis
8. Key Price Indicator Analysis
9. Cash in Transit Market Dynamics
9.1. Drivers & Constraints
9.2. Industry Events
9.3. Innovations & Trends
9.4. SWOT Analysis
9.5. Porter’s Five Forces
9.5.1. Buyer Power
9.5.2. Supplier Power
9.5.3. Threat of New entrants
9.5.4. Threat of Substitutes
9.5.5. Industry Rivalry
10. Industry Best Practices
10.1. Sourcing Strategy
10.2. Procurement Model
10.3. Contract Structure
10.4. Negotiation Levers
10.5. Pricing Model
10.6. Key Factors Influencing the Quotation
11. Key Supplier Analysis
11.1. Linfox Armaguard Pty Ltd.
11.2. Cash in Transit Solutions Pty Ltd (SecureCash)
11.3. Wilson Security
11.4. Southern Cross Protection Group
11.5. ARA Security
In 2021, the global attained a value of around USD 18.72 billion in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 3.8%.
The major market drivers are the rise in the crime rate and growth in the installation of ATMs in developing regions.
The major regions in the industry are North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa.
Some of the leading players in the industry are The Brink's Company, Prosegur Cash Company, Loomis Armored US, LLC, G4S, Gardaworld Corporation, and Linfox Armaguard Pty, Ltd. are some of the primary players in the market.
The global cash-in-transit services market reached a value of about USD 18.72 billion in 2021 and is projected to grow at a CAGR of around 3.8% in the forecast period of 2022-2027. Cash-in-transit services organisations are dedicated to the transporting and processing of cash, move cash to locations such as cash centers and banks, ATM points, big retailers, and other premises. The global cash-in-transit services industry report comprises segments based on its end-use industries and regions. The Asia Pacific region is leading the cash-in-transit services market. The industry is growing at a faster rate in China and India owing to the rise of the ATM market. The major driver propelling the global cash-in-transit services market is the rising number of ATM installations, stringent banking guidelines, and growing crime rates. Some of the leading players in the industry are The Brink's Company, Prosegur Cash Company, Loomis Armored US, LLC, G4S, Gardaworld Corporation, and Linfox Armaguard Pty, Ltd. are some of the primary players in the market.
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