TechNavio, a tech-focused research firm has published a new report on the Global Secure Logistics Market, which is expected to grow at a CAGR of 9.47 percent from 2015-2019.
The latest report from TechNavio highlights an increased affinity towards outsourcing total cash management, security and surveillance by banks and financial institutions. Many customers in this segment are expanding their businesses and looking at fully-integrated solutions for their cash transit and security needs.
“The major factor contributing to the total outsourcing of cash management and security is the growth in popularity of ATMs around the world. The number of ATMs is expected to reach 3.5 million by 2017,” says Faisal Ghaus, Vice President of TechNavio.
“Despite new payment methods, cash still accounts for between 70 and 99 percent of transactions worldwide. So the amount of cash handled by ATMs is anticipated to overtake the cash handled by bank staff, thus necessitating the need for professional cash logistics.”
Additionally, there is a steady shift in operations by multinational secure logistics companies to emerging markets like Asia and South America, so as to cut down on risk exposure and take the first mover advantage in developing markets.