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Cash Logistics Market size is set to grow by USD 24 billion from 2024-2028, Growing preference for outsourcing cash management services by financial institutions boost the market, Technavio



NEW YORK, July 10, 2024 /PRNewswire/ — The global cash logistics market size is estimated to grow by USD 24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 10.86%  during the forecast period. Technological advancements in cash logistics are enhancing efficiency and security in the industry. Innovations include advanced ATM technologies for secure cash dispensing, smart safes with real-time monitoring capabilities, and GPS-enabled tracking systems for precise cash transportation. These advancements support the growing preference for outsourced cash management services by financial institutions, despite challenges posed by increasing plastic money and online transactions. Key players such as AGS Transact Technologies Ltd., Loomis AB, and Prosegur Compania de Seguridad SA are at the forefront, leveraging technology to meet evolving market demands and ensure robust cash security solutions.

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Cash Logistics Market Scope

Report Coverage


Base year


Historic period

2018 – 2022

Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 10.86%

Market growth 2024-2028

USD 24 billion

Market structure


YoY growth 2022-2023 (%)


Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 29%

Key countries

US, China, India, Germany, and UK

Key companies profiled

AGS Transact Technologies Ltd., Allied Universal, AXIOM Armored, CMS Info Systems Ltd., GardaWorld Security Corp., Global Security Logistics Co., GSLS, Knightguard Protection Services Pty Ltd., Linfox Pty Ltd., Loomis AB, Prosegur Compania de Seguridad SA, Radiant Cash Management Services, SecureCash, SIS Ltd., The Brinks Co., Titan Armored Inc., TRABLISA, Transguard Group LLC, Writer Business Services Pvt. Ltd., and ZIEMANN SECURITY Holding GmbH

Market Driver

The demand for automatic cash recycling in ATMs, automated teller safes, and self-service cash recycling machines is growing as financial institutions seek to enhance revenue growth, improve customer service, and optimize costs. In traditional banking, tellers manage cash levels, requiring labor costs for tellers and supervisors, as well as opportunity costs for keeping large cash reserves in ATMs. Cash recycling systems, which function like a vault between two tellers but with advanced cash management technology, help financial institutions streamline operations at a lower cost. This system eliminates the need for tellers and vaults to manage cash balances, increasing efficiency by approximately 90% and reducing expenses. With the COVID-19 pandemic, cash recycling has become even more crucial for minimizing cash touchpoints. As a result, the global ATM market and cash logistics market are experiencing significant growth due to the increasing demand for cash recycling systems. 

Cash logistics is a crucial aspect of the banking sector, involving the transportation, handling, and management of physical cash. Key trends include cash-in-transit services, ATM replenishment, and cash center operations. Cash flows between bank branches, ATMs, and points require secure and efficient movement. Digital money is on the rise, but currency circulation continues to demand safe and reliable cash logistics. Safety is paramount, with safety vaults, digital electronic vaults, and motorized shooting bolts used to secure valuable assets. However, hazards like cash logistics agencies robberies, motorized shooting bolt thefts, and cash-in-transit vehicle robberies pose risks. Companies like CompuSafe use advanced technology to mitigate these hazards. Cash logistics companies handle cash payments and cash movement for various economies, including shops, wholesalers, raw materials suppliers, and exchange businesses. Location, cash processing, and currency management are essential components of cash logistics. Cash logistics services ensure the smooth circulation of cash, enabling customers to make payments and access their funds at ATMs. 

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Market Challenges

•         The use of payment methods other than cash, such as credit cards, debit cards, stored-value cards, online purchases, and mobile payments, is increasing. These options enable convenient financial transactions without the need to carry cash. Plastic money offers benefits like anywhere, anytime banking. This trend could lead to less cash usage at marketplaces and a decrease in the need for physical retail stores and bank branches. Banks provide smart cards and net banking options to reduce customers’ cash dependency. The e-commerce industry’s growth is due to the rise in online transactions. In supermarkets and hypermarkets, smart card reader machines offer plastic money payment options. The availability and use of electronic payment infrastructure and methods are growing, posing a significant challenge to the cash logistics market’s expansion in the coming years.

•         Cash logistics is a critical business sector involving the handling, transportation, and processing of physical cash. However, it comes with its own set of challenges. Cash-in-transit vehicle robberies remain a significant hazard, with motorized shooting bolts and CompuSafe being common tools used by robbers. Cash logistics agencies must ensure the safety of precious assets during cash movement, mitigating public exposure. Location is crucial for cash processing and currency management, with cashiers and ATMs playing key roles in customer satisfaction. Economies rely heavily on cash payments, especially in shops, wholesalers, and raw materials suppliers. Cash logistics companies face challenges in handling and transporting cash in a secure manner, especially in high-risk regions. Technological improvements, such as electronic payment methods and digital payment solutions, are increasingly popular, but physical cash remains a significant part of the economy. Financial service providers must adapt to meet customer demands while ensuring security. Internet banking and smartphones have revolutionized cash transactions, but cash logistics companies must stay ahead of the curve to maintain client satisfaction.

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Segment Overview 

This cash logistics market report extensively covers market segmentation by  

End-user 1.1 Financial institutions1.2 Retailers1.3 Government agencies1.4 OthersService 2.1 Cash-in-transit2.2 Cash management2.3 ATM serviceGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Financial institutions-  The financial institutions segment is a significant contributor to the global cash logistics market. This segment includes banks, credit unions, and other financial service providers that handle substantial cash transactions. These institutions require secure and dependable transportation of cash to and from their branches, ATMs, and other locations. Cash logistics companies cater to these needs, offering services such as cash pickup, transportation, counting, sorting, and delivery. Banks, with their vast network of ATMs and branches, are the primary customers of cash logistics companies. For instance, Bank of America, with over 16,000 ATMs in the US, relies on cash logistics providers for cash refilling. Credit unions, with their growing number of branches, also require secure transportation of cash between locations. For example, Navy Federal Credit Union, the largest credit union in the US, has over 340 branches. Other financial services providers, including check-cashing businesses and payday lenders, also need secure cash transportation due to their high cash volumes. Consequently, the financial institutions segment will continue to drive the growth of the global cash logistics market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Cash logistics refers to the secure transportation and management of cash and valuable assets. It involves various services such as Cash-in-Transit, ATM replenishment, cash centers, and bank branch cash handling. Cash flows through cash logistics networks, moving from cash centers and bank branches to ATMs and other points of sale. Valuable transport plays a crucial role in cash logistics, ensuring the safety of cash during transit using safety vaults and trained personnel. Currency circulation is a significant aspect of cash logistics, with cash demand constantly changing. Digital money and ATMs have transformed the landscape, requiring efficient cash processing and currency management. Cash logistics also involves handling hazards such as public exposure and the risk of theft or robbery. Cash processing services, currency management, and cashiers play essential roles in ensuring the smooth functioning of cash logistics systems.

Market Research Overview

Cash logistics refers to the secure transportation and management of physical cash and valuable assets. This essential service includes Cash-in-Transit (CIT), cash centers, ATM replenishment services, and bank branch cash handling. Cash flows through various channels such as ATMs, bank branches, and retail outlets, requiring constant circulation and replenishment. Safety vaults and digital electronic vaults ensure the security of cash and precious assets. Cash logistics agencies face hazards like cash robberies, which have led to the use of motorized shooting bolts and advanced security measures. Companies like CompuSafe provide advanced cash processing and currency management solutions. The banking sector continues to evolve, with technological improvements like motorized shooting bolts, digital money, and electronic payment methods gaining popularity among internet users and financial service providers. Cash movement involves handling and transportation, requiring careful planning and location-specific strategies. Cash logistics companies prioritize client satisfaction, ensuring secure and efficient cash processing and currency management for economies, shops, wholesalers, raw materials suppliers, and exchange services in various economic regions. Cash payment remains a significant part of the financial ecosystem, with cash logistics agencies playing a crucial role in its circulation and security.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userFinancial InstitutionsRetailersGovernment AgenciesOthersServiceCash-in-transitCash ManagementATM ServiceGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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Jesse Maida
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MESCIUS inc. Recognized in 2024 ComponentSource Awards




PITTSBURGH, July 19, 2024 /PRNewswire/ — MESCIUS inc, a global provider of award-winning enterprise software development tools, is pleased to announce that it has been recognized as the 2024 number two publisher and top five publisher by ComponentSource, the world’s largest marketplace for software components and development tools. ComponentSource also recognized MESCIUS for its many top-selling products on its annual listing.

Discover what MESCIUS products received top awards in the 2024 ComponentSource Awards.

As the component and tools market continues to expand with more mature technologies, MESCIUS inc. is pleased to offer high-performing and robust components that allow developers to “write once, deploy anywhere” across mobile, web, desktop, server, and multiple OS platforms.

ActiveReports. NET Professional received a #5 Product Award and a Top 5 Product Award. Spread. NET and ComponentOne Studio Enterprise were each honored with Top 10 Product Awards. ActiveReports .NET Standard and ComponentOne Studio WinForms received a Top 25 Product Award, while SpreadJS and Wijmo earned Top 50 Product Awards. ComponentOne Studio ActiveX, ComponentOne Studio WPF, and ActiveReportsJS secured a Top 100 Product Award. In addition to the various product awards, MESCIUS inc received a #2 Publisher Award and a Top 5 Publisher Award.

Publisher and product rankings are calculated based on ComponentSource’s actual sales orders placed by customers globally during 2023.

View the 2024 Publisher Awards List.View the 2024 Product Awards List.

“As with previous years, these awards are derived from the orders we’ve received from our global customer base,” said Sam Patterson, ComponentSource CEO. “They offer an authentic snapshot of the global market for commercial software components and development tools in 2023. We believe our awards provide precise, real-world insights into how our customers are utilizing these components and development tools in their most recent projects.”

“The rebranding from GrapeCity Developer Solutions to MESCIUS Inc. in 2023 marked a significant milestone, introducing not only a new name but also a revitalized approach to our product suite,” stated Joseph Lininger, Director of Marketing at MESCIUS (formerly GrapeCity). “We are delighted to continue our longstanding partnership with ComponentSource, which has been instrumental in distributing our .NET and JavaScript grids, UI components, reporting tools, spreadsheet and document APIs, and mobile controls. This collaboration ensures that our global developer community remains well-equipped with superior products and services they have come to expect from us.”

About ComponentSource ComponentSource is the world’s largest marketplace for reusable software components for all platforms. The respected barometer for the component industry, ComponentSource pioneered the open market for reusable software components in 1995 and continues to drive the market through its award-winning e-business model and groundbreaking work to establish the first widely accepted reusable component standard. A global e-business with customers in over 180 countries, ComponentSource is headquartered in Atlanta, GA United States and has offices in Reading, England, Dublin, Ireland and Tokyo, Japan. For more information, please visit

About MESCIUS MESCIUS inc. is one of the world’s largest providers of developer components. The company retains 400 employees and hundreds of thousands of customers worldwide. MESCIUS inc. is committed to providing enterprises around the world with state-of-the-art developer tools and components, software services, and solutions. For more information, visit

All product and company names herein may be trademarks of their respective owners.

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tKash Celebrates 1st Anniversary with Major Milestones and Exciting Promotions




Achieving 100,000 Registrations, International Reach, and Celebratory Promotions Highlight tKash’s Remarkable First Year

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — tKash, a pioneering financial services app, is celebrating its first anniversary with notable achievements and exciting promotions. Launched with a vision to simplify financial transactions, tKash has reached impressive milestones, including 100,000 registrations and up to 10,000 daily active users.

Since its inception, tKash has been dedicated to providing seamless and secure financial services. The app has enabled users to transfer up to RM 1 million across borders, offering peace of mind with its reliable and efficient service. In addition to money transfers, tKash provides convenient currency exchange services for up to 10 countries’ currencies, including Bangladesh, Indonesia, India, the Philippines, Pakistan, Singapore, Vietnam, Thailand, and Myanmar.

One of the standout features of tKash is its Live FC (foreign currency) Rates, which allows users to track currency fluctuations in real time, ensuring they make informed decisions when exchanging currencies.

The company’s growth and success have not gone unnoticed. tKash proudly featured its video on the iconic New York Times Square billboard and displayed billboards in Kuala Lumpur, enhancing its brand visibility on an international scale. Influencers from countries such as Thailand have shared positive reviews on social media, further boosting tKash’s presence on social media.

To celebrate its first anniversary, tKash is running a special promotion where users who refer their friends have the chance to share in a RM100,000 prize pool, making it even more rewarding to engage with the app. The company continues to innovate, with regular updates to its app, which are available for download on both the PlayStore and AppStore. In January 2024, tKash launched its official website, providing users another platform to access its services.

In just one year, tKash has proven to be a game-changer in the financial services industry, making everyday transactions smoother and more accessible. With its tech-savvy team and commitment to customer satisfaction, tKash is poised for continued growth and success.

tKash is a leading financial services app committed to making financial transactions easier and more accessible. With secure money transfers, real-time currency exchange rates, and a user-friendly interface, tKash transforms how people manage their finances. For more information, visit

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Saronic Raises $175 Million in Series B Funding, Valuing Company at $1 Billion




Funding will accelerate Saronic’s growth and further scale production of its autonomous surface vessels for the U.S. Navy and its allies

AUSTIN, Texas, July 19, 2024 /PRNewswire/ — Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), today announced a $175 million Series B raise placing the company’s valuation at $1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working alongside manned systems to allow naval forces to go farther and do more with less risk to life and mission. 

“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas. “As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”

Saronic’s investor group is composed of firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter. 

“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology” said Katherine Boyle, General Partner at a16z. “Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. At home, it will allow further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Additionally, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex Moore, Partner at 8VC. “Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”

Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′) and Corsair, its largest model, which is currently in development and testing. Each vessel features integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. Through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that can be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.

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