North America Cash Logistics Market By Services (ATM Services, Cash in Transit, Vault Services, Others); By Vertical (Retail, Banking, Financial Services and Insurance, Entertainment, Others); By Countries (U.S., Canada, Mexico, Rest of North America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2019 - 2027
Industry Trends
In terms of revenue, North America cash logistics market was valued at US$ 3,829.0 Mn in 2018 and is anticipated to reach US$ 5,963.3 Mn by 2027, growing at a CAGR of 5.1% over the forecast period. Across the globe, cash transactions dominate and is a fundamental instrument among various types of financial transaction. The convenience of cash payments include easy to transact, free of cost, confidentiality and others have contributed towards their high popularity. In 2018, as per ‘Diary of Consumer Payment Choice’ survey report of US Federal Reserve Bank of Atlanta stated that cash payment instrument contributed a large share with more than one–quarter of payments, approximately 26.0% of all total payment transactions. Cash management and logistics planning plays a vital role to ensure cash availability to customers during their requirement. Market participants or players in the cash logistics industry execute the physical movement, storage and others activities related to currency notes and valuables on behalf of a financial institutions, retailers among others. Cash logistics caters to different requirements including secured transportation of cash, ATM replenishment, ATM maintenance, door step banking, movement of bullion, coins among others. As the demand for cash is growing in absolute terms relative to GDP among developed countries including U.S and Canada in North America, cash management services are increasing in demand. In North American, natives primary payment mode of spending in cash for gifts, government activities, food and personal care supplies, auto and vehicle related and other such activities. Thus, the dominance of cash transactions has contributed towards the growth of North America cash logistics market.
There is an upward trend in value of cash in circulation throughout North America. In May 6, 2020 as per Federal Reserve System of the U.S there was US$ 1.87 trillion worth of Federal Reserve notes in circulation. Rising trend of cash in circulation has strengthened due to higher economic uncertainty. The developing countries of the region such as Honduras, Mexico and others are also making efforts towards increasing their total number of ATMs and bank branches. In North American average number of bank branches per 100,000 capita is 27.82. Cash in circulation still remains prominent due to consistent use of cash in the U.S households. In 2016, Federal Reserve Bank of San Francisco stated that around 89.0% of American consumers hold cash up to some extent. This growing demand for currency has been positively affected by certain economic factors such as international demand, GDP growth and others combined with non-economic activities such as redesigning currency notes to tackle counterfeiting. This rising cash in circulation has created high demand for cash management activities thus boosting the growth of North America cash logistics market.
In May 2020 as per United Nations Industrial Development Organization, the recent outbreak of global pandemic corona virus or COVID-19 across North America has disrupted the economies across continents and is anticipated to shrink the global growth by -4.2%.. Owing to this, companies and businesses have begun to hoard maximum possible cash in response to any possible unpredicted events in future. US dollar is the safest currency and hence a large number of companies across North America region are opting to hold US dollars. This has caused a steady rise in demand for dollars from wide range of sources including banks, companies and foreign financial institutions amongst many others. Investors around the world are also selling their dollar based investment assets, thus, further fuelling demand for cash. In response to this, US Federal Reserve stated in March 2020 about expanding swap lines with 14 new lines introduced in last month for providing the required funding to additional central banks across world. Swap line can be termed as an emergency supply of dollars wherein the dollars are traded for other countries’ currency. This created a significant rise in cash flowing in and out of North America region. Thus, the rise in demand for U.S dollars due to COVID-19 pandemic is anticipated to drive the growth of North America cash logistics market over forecast period.
Services Outlook:
Based on the type of services offered by cash logistics services providers, cash in transit held the largest share in North America cash logistics market in 2018 owing to the high number of bank branches available per capita. However, ATM services including ATM replenishment, maintenance and others are poised to grow at a faster rate over the forecast years in North America. The number of Automated Teller Machines (ATM) is on an upsurge in North America with high ratio of ATMs in respect to population. In 2017, as per ATM Industry Association (ATMIA) in the U.S there were around 500,000 ATMs across the country in the very year and this number is poised to grow over the years due to new functionalities being introduced to modern ATMs. These factors accounted for a positive growth in the ATM withdrawals. Thus, demand for cash is increasing in this region, based on the rising value of ATM withdrawals. This rise in number of ATMs and ATM withdrawals are anticipated to drive the growth of ATM services segment in North America cash logistics market over the forecast period.
Vertical Outlook
Based on the type of verticals, Banking and Financial Institutions (BFSI) held the largest share in North America cash logistics market in 2018 owing to high cash flows across wide network of branches. However, retail industry is expected to grow at a fastest CAGR over the forecast period owing to rise in cash flows. For instance, Walmart U.S generated an operational cash flow of US$ 27.8 Bn in fiscal year 2019. Also, more than two third of ATMs in the U.S are at retail locations. These factors have contributed towards rise in adoption of cash management services by retail industry players in North America for tracking cash, installing cash machines and transporting the daily cash. Thus growing cash flows in retail industry is poised to drive the growth of North America cash logistics market over the forecast years.
Regional Outlook:
There are 25 different currencies in official use across North America region which collectively contribute in the cash logistics market of the region. U.S held the largest share of North America cash logistics market in 2018. The high presence of banking sector with 112,244 bank branches of 36 central banks coupled with 434,000 ATMs in the U.S are catering to a large number of household as well as corporate clients have contributed towards the country’s high market share in cash logistics market.
The study analyses the market in terms of revenue across all the major countries in North America region including Canada and Mexico.
North America Cash Logistics Market Revenue & Forecast, (US$ Mn), 2015 – 2027
Competitive Landscape
The report provides both, qualitative and quantitative research of North America cash logistics market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their North America presence, competitors, service offerings and specification amongst others.
Some of the players operating in the cash logistics market are Brink's Inc., GardaWorld, Glory Global Solutions (International) Limited, Jardine Lloyd Thompson Group Plc, Loomis Armoured US, LLC, NamSys Inc., Prosegur and Wilmington Savings Fund Society, FSB amongst others. In 2015, Loomis Armoured US, LLC acquired Dunbar Armoured, Inc. which provides cash manager safes, global logistics and armoured car services. This acquisition has strengthened the company’s position in U.S market with adding domestic and overnight services to their portfolio.
North America Cash Logistics Market:
- By Services
- ATM services
- Cash in transit
- Vault services
- Others
- By Vertical
- Retail
- Banking, Financial Services and Insurance
- Entertainment
- Others
- By Countries
- U.S
- Canada
- Mexico
- Rest of North America
Table of Contents
1. Market
Scope
1.1. Market Segmentation
1.2. Years Considered
1.2.1. Historic Years: 2013 - 2017
1.2.2. Base Year: 2018
1.2.3. Forecast Years: 2019 – 2027
2. Key
Target Audiences
3. Research
Methodology
3.1. Primary Research
3.1.1. Research Questionnaire
3.1.2. North America Percentage Breakdown
3.1.3. Primary Interviews: Key Opinion Leaders (KOLs)
3.2. Secondary Research
3.2.1. Paid Databases
3.2.2. Secondary Sources
3.3. Market Size Estimates
3.3.1. Top-Down Approach
3.3.2. Bottom-Up Approach
3.4. Data Triangulation Methodology
3.5. Research Assumptions
4. Recommendations
and Insights from AMI’s Perspective**
5. Holistic
Overview of Cash Logistics Market
6. Market
Synopsis: Cash Logistics Market
7. Cash
Logistics Market Analysis: Qualitative Perspective
7.1. Introduction
7.1.1. Product Definition
7.1.2. Industry Development
7.2. Market Dynamics
7.2.1. Drivers
7.2.2. Restraints
7.2.3. Opportunities
7.3. Trends in Cash Logistics Market
7.4. Market Determinants Radar Chart
7.5. Macro-Economic and Micro-Economic Indicators: Cash Logistics
Market
7.6. Industry Gross Margin Overview
7.7. Porter’s Five Force Analysis
8. North
America Cash Logistics Market Analysis and Forecasts, 2019 – 2027
8.1. Overview
8.1.1. North America Cash Logistics Market Revenue (US$ Mn)
8.2. North America Cash Logistics Market Revenue (US$ Mn) and
Forecasts, By Services
8.2.1. ATM services
8.2.1.1. Definition
8.2.1.2. Market Penetration, 2018
8.2.1.3. Market Estimation, 2013 – 2018
8.2.1.4. Market Forecast, 2019 – 2027
8.2.1.5. Compound Annual Growth Rate (CAGR)
8.2.1.6. Regional Bifurcation
8.2.1.6.1. U.S
8.2.1.6.1.1. Market Estimation, 2013 – 2018
8.2.1.6.1.2. Market Forecast, 2019 – 2027
8.2.1.6.2. Canada
8.2.1.6.2.1. Market Estimation, 2013 – 2018
8.2.1.6.2.2. Market Forecast, 2019 – 2027
8.2.1.6.3. Mexico
8.2.1.6.3.1. Market Estimation, 2013 – 2018
8.2.1.6.3.2. Market Forecast, 2019 – 2027
8.2.1.6.4. Rest of North America
8.2.1.6.4.1. Market Estimation, 2013 – 2018
8.2.1.6.4.2. Market Forecast, 2019 – 2027
8.2.2. Cash in transit
8.2.2.1. Definition
8.2.2.2. Market Penetration, 2018
8.2.2.3. Market Estimation, 2013 – 2018
8.2.2.4. Market Forecast, 2019 – 2027
8.2.2.5. Compound Annual Growth Rate (CAGR)
8.2.2.6. Regional Bifurcation
8.2.2.6.1. U.S
8.2.2.6.1.1. Market Estimation, 2013 – 2018
8.2.2.6.1.2. Market Forecast, 2019 – 2027
8.2.2.6.2. Canada
8.2.2.6.2.1. Market Estimation, 2013 – 2018
8.2.2.6.2.2. Market Forecast, 2019 – 2027
8.2.2.6.3. Mexico
8.2.2.6.3.1. Market Estimation, 2013 – 2018
8.2.2.6.3.2. Market Forecast, 2019 – 2027
8.2.2.6.4. Rest of North America
8.2.2.6.4.1. Market Estimation, 2013 – 2018
8.2.2.6.4.2. Market Forecast, 2019 – 2027
8.2.3. Vault services
8.2.3.1. Definition
8.2.3.2. Market Penetration, 2018
8.2.3.3. Market Estimation, 2013 – 2018
8.2.3.4. Market Forecast, 2019 – 2027
8.2.3.5. Compound Annual Growth Rate (CAGR)
8.2.3.6. Regional Bifurcation
8.2.3.6.1. U.S
8.2.3.6.1.1. Market Estimation, 2013 – 2018
8.2.3.6.1.2. Market Forecast, 2019 – 2027
8.2.3.6.2. Canada
8.2.3.6.2.1. Market Estimation, 2013 – 2018
8.2.3.6.2.2. Market Forecast, 2019 – 2027
8.2.3.6.3. Mexico
8.2.3.6.3.1. Market Estimation, 2013 – 2018
8.2.3.6.3.2. Market Forecast, 2019 – 2027
8.2.3.6.4. Rest of North America
8.2.3.6.4.1. Market Estimation, 2013 – 2018
8.2.3.6.4.2. Market Forecast, 2019 – 2027
8.2.4. Others
8.2.4.1. Definition
8.2.4.2. Market Penetration, 2018
8.2.4.3. Market Estimation, 2013 – 2018
8.2.4.4. Market Forecast, 2019 – 2027
8.2.4.5. Compound Annual Growth Rate (CAGR)
8.2.4.6. Regional Bifurcation
8.2.4.6.1. U.S
8.2.4.6.1.1. Market Estimation, 2013 – 2018
8.2.4.6.1.2. Market Forecast, 2019 – 2027
8.2.4.6.2. Canada
8.2.4.6.2.1. Market Estimation, 2013 – 2018
8.2.4.6.2.2. Market Forecast, 2019 – 2027
8.2.4.6.3. Mexico
8.2.4.6.3.1. Market Estimation, 2013 – 2018
8.2.4.6.3.2. Market Forecast, 2019 – 2027
8.2.4.6.4. Rest of North America
8.2.4.6.4.1. Market Estimation, 2013 – 2018
8.2.4.6.4.2. Market Forecast, 2019 – 2027
8.3. Key Segment for Channeling Investments
8.3.1. By Services
9. North
America Cash Logistics Market Analysis and Forecasts, 2019 – 2027
9.1. Overview
9.2. North America Cash Logistics Market Revenue (US$ Mn) and
Forecasts, By Vertical
9.2.1. Retail
9.2.1.1. Definition
9.2.1.2. Market Penetration, 2018
9.2.1.3. Market Estimation, 2013 – 2018
9.2.1.4. Market Forecast, 2019 – 2027
9.2.1.5. Compound Annual Growth Rate (CAGR)
9.2.1.6. Regional Bifurcation
9.2.1.6.1. U.S
9.2.1.6.1.1. Market Estimation, 2013 – 2018
9.2.1.6.1.2. Market Forecast, 2019 – 2027
9.2.1.6.2. Canada
9.2.1.6.2.1. Market Estimation, 2013 – 2018
9.2.1.6.2.2. Market Forecast, 2019 – 2027
9.2.1.6.3. Mexico
9.2.1.6.3.1. Market Estimation, 2013 – 2018
9.2.1.6.3.2. Market Forecast, 2019 – 2027
9.2.1.6.4. Rest of North America
9.2.1.6.4.1. Market Estimation, 2013 – 2018
9.2.1.6.4.2. Market Forecast, 2019 – 2027
9.2.2. Banking, Financial Services and Insurance (BFSI)
9.2.2.1. Definition
9.2.2.2. Market Penetration, 2018
9.2.2.3. Market Estimation, 2013 – 2018
9.2.2.4. Market Forecast, 2019 – 2027
9.2.2.5. Compound Annual Growth Rate (CAGR)
9.2.2.6. Regional Bifurcation
9.2.2.6.1. U.S
9.2.2.6.1.1. Market Estimation, 2013 – 2018
9.2.2.6.1.2. Market Forecast, 2019 – 2027
9.2.2.6.2. Canada
9.2.2.6.2.1. Market Estimation, 2013 – 2018
9.2.2.6.2.2. Market Forecast, 2019 – 2027
9.2.2.6.3. Mexico
9.2.2.6.3.1. Market Estimation, 2013 – 2018
9.2.2.6.3.2. Market Forecast, 2019 – 2027
9.2.2.6.4. Rest of North America
9.2.2.6.4.1. Market Estimation, 2013 – 2018
9.2.2.6.4.2. Market Forecast, 2019 – 2027
9.2.3. Entertainment
9.2.3.1. Definition
9.2.3.2. Market Penetration, 2018
9.2.3.3. Market Estimation, 2013 – 2018
9.2.3.4. Market Forecast, 2019 – 2027
9.2.3.5. Compound Annual Growth Rate (CAGR)
9.2.3.6. Regional Bifurcation
9.2.3.6.1. U.S
9.2.3.6.1.1. Market Estimation, 2013 – 2018
9.2.3.6.1.2. Market Forecast, 2019 – 2027
9.2.3.6.2. Canada
9.2.3.6.2.1. Market Estimation, 2013 – 2018
9.2.3.6.2.2. Market Forecast, 2019 – 2027
9.2.3.6.3. Mexico
9.2.3.6.3.1. Market Estimation, 2013 – 2018
9.2.3.6.3.2. Market Forecast, 2019 – 2027
9.2.3.6.4. Rest of North America
9.2.3.6.4.1. Market Estimation, 2013 – 2018
9.2.3.6.4.2. Market Forecast, 2019 – 2027
9.2.4. Others
9.2.4.1. Definition
9.2.4.2. Market Penetration, 2018
9.2.4.3. Market Estimation, 2013 – 2018
9.2.4.4. Market Forecast, 2019 – 2027
9.2.4.5. Compound Annual Growth Rate (CAGR)
9.2.4.6. Regional Bifurcation
9.2.4.6.1. U.S
9.2.4.6.1.1. Market Estimation, 2013 – 2018
9.2.4.6.1.2. Market Forecast, 2019 – 2027
9.2.4.6.2. Canada
9.2.4.6.2.1. Market Estimation, 2013 – 2018
9.2.4.6.2.2. Market Forecast, 2019 – 2027
9.2.4.6.3. Mexico
9.2.4.6.3.1. Market Estimation, 2013 – 2018
9.2.4.6.3.2. Market Forecast, 2019 – 2027
9.2.4.6.4. Rest of North America
9.2.4.6.4.1. Market Estimation, 2013 – 2018
9.2.4.6.4.2. Market Forecast, 2019 – 2027
9.3. Key Segment for Channeling Investments
9.3.1. By Vertical
10. North
America Cash Logistics Market Analysis and Forecasts, 2019 - 2027
10.1. Overview
10.1.1. North America Cash Logistics Market Revenue (US$ Mn)
10.2. North America Cash Logistics Market Revenue (US$ Mn) and
Forecasts, By Services
10.2.1. ATM services
10.2.2. Cash in transit
10.2.3. Vault services
10.2.4. Others
10.3. North America Cash Logistics Market Revenue (US$ Mn) and
Forecasts, By Vertical
10.3.1. Retail
10.3.2. Banking, Financial Services and Insurance (BFSI)
10.3.3. Entertainment
10.3.4. Others
10.4. North America Cash Logistics Market Revenue (US$ Mn), By
Country
10.4.1. U.S
10.4.1.1. U.S Cash Logistics Market Revenue (US$ Mn) and Forecasts, By
Services
10.4.1.1.1. ATM services
10.4.1.1.2. Cash in transit
10.4.1.1.3. Vault services
10.4.1.1.4. Others
10.4.1.2. U.S Cash Logistics Market Revenue (US$ Mn) and Forecasts, By
Vertical
10.4.1.2.1. Retail
10.4.1.2.2. Banking, Financial Services and Insurance (BFSI)
10.4.1.2.3. Entertainment
10.4.1.2.4. Others
10.4.2. Canada
10.4.2.1. Canada Cash Logistics Market Revenue (US$ Mn) and Forecasts,
By Services
10.4.2.1.1. ATM services
10.4.2.1.2. Cash in transit
10.4.2.1.3. Vault services
10.4.2.1.4. Others
10.4.2.2. Canada Cash Logistics Market Revenue (US$ Mn) and Forecasts,
By Vertical
10.4.2.2.1. Retail
10.4.2.2.2. Banking, Financial Services and Insurance (BFSI)
10.4.2.2.3. Entertainment
10.4.2.2.4. Others
10.4.3. Mexico
10.4.3.1. Mexico Cash Logistics Market Revenue (US$ Mn) and Forecasts,
By Services
10.4.3.1.1. ATM services
10.4.3.1.2. Cash in transit
10.4.3.1.3. Vault services
10.4.3.1.4. Others
10.4.3.2. Mexico Cash Logistics Market Revenue (US$ Mn) and Forecasts,
By Vertical
10.4.3.2.1. Retail
10.4.3.2.2. Banking, Financial Services and Insurance (BFSI)
10.4.3.2.3. Entertainment
10.4.3.2.4. Others
10.4.4. Rest of North America
10.4.4.1. Rest of North America Cash Logistics Market Revenue (US$ Mn)
and Forecasts, By Services
10.4.4.1.1. ATM services
10.4.4.1.2. Cash in transit
10.4.4.1.3. Vault services
10.4.4.1.4. Others
10.4.4.2. Rest of North America Cash Logistics Market Revenue (US$ Mn)
and Forecasts, By Vertical
10.4.4.2.1. Retail
10.4.4.2.2. Banking, Financial Services and Insurance (BFSI)
10.4.4.2.3. Entertainment
10.4.4.2.4. Others
10.5. Key Segment for Channeling Investments
10.5.1. By Country
10.5.2. By Services
10.5.3. By Vertical
11. Competitive
Benchmarking
11.1. Brand Benchmarking
11.2. Market Share Analysis, 2018
11.3. North America Presence and Growth Strategies
11.3.1. Mergers and Acquisitions
11.3.2. Product Launches
11.3.3. Investments Trends
11.3.4. R&D Initiatives
12. Player
Profiles
12.1. Brink's Incorporated
12.1.1. Company Details
12.1.2. Company Overview
12.1.3. Product Offerings
12.1.4. Key Developments
12.1.5. Financial Analysis
12.1.6. SWOT Analysis
12.1.7. Business Strategies
12.2. GardaWorld
12.2.1. Company Details
12.2.2. Company Overview
12.2.3. Product Offerings
12.2.4. Key Developments
12.2.5. Financial Analysis
12.2.6. SWOT Analysis
12.2.7. Business Strategies
12.3. Glory Global Solutions (International) Limited
12.3.1. Company Details
12.3.2. Company Overview
12.3.3. Product Offerings
12.3.4. Key Developments
12.3.5. Financial Analysis
12.3.6. SWOT Analysis
12.3.7. Business Strategies
12.4. Jardine Lloyd Thompson Group plc
12.4.1. Company Details
12.4.2. Company Overview
12.4.3. Product Offerings
12.4.4. Key Developments
12.4.5. Financial Analysis
12.4.6. SWOT Analysis
12.4.7. Business Strategies
12.5. Loomis Armored US, LLC
12.5.1. Company Details
12.5.2. Company Overview
12.5.3. Product Offerings
12.5.4. Key Developments
12.5.5. Financial Analysis
12.5.6. SWOT Analysis
12.5.7. Business Strategies
12.6. NamSys Inc.
12.6.1. Company Details
12.6.2. Company Overview
12.6.3. Product Offerings
12.6.4. Key Developments
12.6.5. Financial Analysis
12.6.6. SWOT Analysis
12.6.7. Business Strategies
12.7. Prosegur
12.7.1. Company Details
12.7.2. Company Overview
12.7.3. Product Offerings
12.7.4. Key Developments
12.7.5. Financial Analysis
12.7.6. SWOT Analysis
12.7.7. Business Strategies
12.8. Wilmington Savings Fund Society, FSB
12.8.1. Company Details
12.8.2. Company Overview
12.8.3. Product Offerings
12.8.4. Key Developments
12.8.5. Financial Analysis
12.8.6. SWOT Analysis
12.8.7. Business Strategies
12.9. Other Market Participants
13. Key
Findings
At Absolute Markets Insights, we are engaged in building both global as well as country specific reports. As a result, the approach taken for deriving the estimation and forecast for a specific country is a bit unique and different in comparison to the global research studies. In this case, we not only study the concerned market factors & trends prevailing in a particular country (from secondary research) but we also tend to calculate the actual market size & forecast from the revenue generated from the market participants involved in manufacturing or distributing the any concerned product. These companies can also be service providers. For analyzing any country specifically, we do consider the growth factors prevailing under the states/cities/county for the same. For instance, if we are analyzing an industry specific to United States, we primarily need to study about the states present under the same(where the product/service has the highest growth). Similar analysis will be followed by other countries. Our scope of the report changes with different markets.
Our research study is mainly implement through a mix of both secondary and primary research. Various sources such as industry magazines, trade journals, and government websites and trade associations are reviewed for gathering precise data. Primary interviews are conducted to validate the market size derived from secondary research. Industry experts, major manufacturers and distributors are contacted for further validation purpose on the current market penetration and growth trends.
Prominent participants in our primary research process include:
- Key Opinion Leaders namely the CEOs, CSOs, VPs, purchasing managers, amongst others
- Research and development participants, distributors/suppliers and subject matter experts
Secondary Research includes data extracted from paid data sources:
- Reuters
- Factiva
- Bloomberg
- One Source
- Hoovers
Research Methodology
Key Inclusions
