Secure Logistics Market Size to 2028- Industry Forecast Report

Secure Logistics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Static and Mobile) and Application (Cash Management, Jewellery and Precious Metals, Manufacturing, and Others)

Publication Month : Nov 2021

  • Report Code : TIPRE00009895
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 164
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The secure logistics market is expected to grow from US$ 47.25 billion in 2021 to US$ 75.64 billion by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.

The rising global money circulation is driving the secure logistics market. The demand for secure cash transportation and management services has increased as corporate and institutional security concerns have grown. Key secure logistics industry participants have been increasingly employing innovative technology in the logistics business to protect the safety and security of cash-in-transit vehicles. Cash pick-up and delivery, intercity bulk cash transfer, and ATM cash management are all in high demand. Furthermore, market growth is bolstered by an increase in digital payments and the growing popularity of electronic and mobile payment methods around the world. Recent advancements in international logistics are projected to enhance demand for safe logistics in financial institutions by increasing the number of transactions at point of sale (POS) and withdrawal activity at ATMs, particularly in emerging market rural markets. According to 72 percent of account holders, increased urbanization and access to technology would increase the amount of POS transactions and ATM withdrawals in 2019. The requirement for secure travel in financial institutions is essential on a global scale. The growing use of mobile payments and online banking, on the other hand, is anticipated to hinder industry growth.

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Secure Logistics Market: Strategic Insights

Market Size Value inUS$ 47.25 billion in 2021
Market Size Value byUS$ 75.64 billion by 2028
Growth rateCAGR of 7.0% from 2021 to 2028
Forecast Period2021-2028
Base Year2020
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Impact of COVID-19 Pandemic on Secure Logistics Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human’s movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services.  However, in 2021, with the uplifting of lockdown and vaccination processes, the manufacturing and construction companies have started working again. The logistics and supply-chain industry players are focusing on digital technologies to curb the negative effect of the pandemic on the logistics operations based on traditional logistics concepts. This is boosting the logistics supply chain. Further, the e-commerce business is also growing now and the banking and financial institutions are also working, which slowly increasing the growth of global  secure logistics industry.

Lucrative Regions of Secure Logistics Market

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Market Insights–

Secure Logistics Market

Rising Need for Secure Logistics for Global Cash Circulation and Management

The increased use of cash logistics solutions such as cash management and cash-in-transit has resulted from the increase in currency circulation in the economy. For example, in November 2018, the Reserve Bank of India (RBI) declared that the money in circulation in India had increased by roughly US$ 6.54 billion, the greatest increase since demonetization. The adoption of cash logistics services improves cash management and provides benefits such as the reduced risk of errors, improved cash flow, and more. As a result, an increase in cash circulation propels the global secure logistics market ahead. Further, multinational cash logistics corporations have been steadily shifting their operations bases to rising areas such as Asia, South America, and the Middle East. Moreover, in recent days, the number of cash-in-transit vehicle robberies has skyrocketed. In South Africa, for example, a surge in cash robbery is one of the key causes discouraging cash logistics companies from accepting cash payments. In recent financial years, cash-in-transit robberies surged by roughly 56%, resulting in an increase in demand for secure logistics for cash movement and management by cash logistics companies.

Type-Based Insights

Based on type, the secure logistics market is bifurcated into static and mobile. In static type, manned guard are deployed for security applications. The security guards deployed at different locations help in securing the logistics transportation. Several market players are offering guarding services for the secure logistics market. These players deliver customized logistics security solutions designed to expose security breaches, shipping loss and damage, and reduce theft. For instance, Prosegur understands the specific needs and then develops a security plan. Their security management team is hand-picked from professionals with extensive backgrounds in high-level security positions in the private sector and government, and many bring established relationships with the local law enforcement and community.

Application-Based Insights

Based on application, the secure logistics market is segmented into cash management, jewellery and precious metals, manufacturing, and others. The cash management comprises services such as money processing, transportation, ATM services, and device management, designed to work together. The management services help in providing a better view of cash handling activities with accurate and detailed information that can be used to quickly identify issues and correct them before they escalate into costly problems. There are two types of services—ATM services and cash in transit. For instance, Brink's Incorporated offers ATM services and cash in transit services. For ATM services, the company provides ATM cash replenishment, first line maintenance, and maximum uptime or highest TAT (turnaround time) adherence. The company’s cash pick-up services include the safe cash pickup from bank vaults and customers who handle large volumes of cash, such as large retailers, telecom, utility companies, and petrol stations; process the currency notes; and deposit it at the customer’s designated location or bank.

Players operating in the secure logistics market are mainly focused on the development of advanced and efficient products.

  • In 2021, Prosegur signed a partnership agreement with Forética, a leading organization in sustainability and corporate social responsibility in Spain, to develop alliances that help to accelerate the transition process toward a sustainable model.
  • In 2021, GardaWorld Cash Services, in collaboration with Roshel Smart Armored Vehicles developed next-generation high-tech and high-security armored car fleet in North America.
  • In 2020, Nutanix, a leader in enterprise cloud computing, announced that Brinks Israel (a subsidiary of Brinks the global leader in total cash management, route-based secure logistics and payment solutions) implemented Nutanix as the private cloud infrastructure platform for its digital transformation and new digital based services.

The secure logistics market has been segmented as follows:

Secure Logistics Market – by Type

  • Static
  • Mobile

Secure Logistics Market – by Application   

  • Cash Management
  • Jewellery and Precious Metals
  • Manufacturing
  • Others

Secure Logistics Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
    • Europe
  • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of SAM

Secure Logistics Market – Company Profiles

  • Allied Universal
  • G4S Limited
  • GardaWorld
  • Prosegur
  • Securitas AB
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Finland, France, Germany, India, Italy, Japan, Mexico, Norway, Portugal, Russian Federation, Saudi Arabia, Slovakia, South Africa, South Korea, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What are reasons behind secure logistics market growth?

Rising need for secure logistics for global cash circulation and management & growing proliferation of ATMs are driving the growth of the secure logistics market. These factors are propelling the adoption of secure logistics solutions.

What are market opportunities for secure logistics market?

The market opportunity lies in developing countries. Developing countries have become a hub of opportunity for various markets, including secure logistics market. Thus, the expansion of banking and financial institutions and infrastructure in emerging economies are presenting significant potential for the future growth of the secure logistics market players.

Which application segment is expected to dominate the market in the forecast period?

Based on application, the secure logistics market is categorized into cash management, jewellery and precious metals, manufacturing, and others. The secure logistics market for the cash management segment was valued at US$ 25.03 billion in 2020 and is expected to grow at a CAGR of 7.5% during the forecast period to reach US$ 43.73 billion by 2028.

Which region has dominated the secure logistics market?

In 2020, APAC led the market with a substantial revenue share, followed by North America and Europe. APAC is a prospective market for secure logistics manufacturers.

Which are the major companies in the secure logistics market?

The major companies in secure logistics includes Allied Universal, BRINK'S INCORPORATED, G4S Limited, GardaWorld, SECURE LOGISTICS LLC, Prosegur, SERCO GROUP PLC, Securitas AB, SIS LIMITED, and LOOMIS AB.

Which type segment is expected to dominate the market in the forecast period?

Based on type, the secure logistics market is categorized into static and mobile. In terms of revenue, the secure logistics market for the mobile segment was valued at US$ 21.76 billion in 2020 and is expected to grow at a CAGR of 8.6% during the forecast period to reach US$ 41.07 billion by 2028.

The List of Companies - Secure Logistics Market

  1. Allied Universal
  3. G4S Limited
  4. GardaWorld
  6. Prosegur
  8. Securitas AB

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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