According to the report, the global secure logistics market was valued at $87.1 billion in 2022, and is projected to reach $191.9 billion by 2032, registering a CAGR of 8.4% from 2023 to 2032.
The secure logistics market is witnessing suitable growth in recent years, owing to the increase in contracts and increase in the demand for outsourcing branch and ATM service across the globe. Moreover, the key players operating in the industry have been inclined towards developing superior quality software and systems that can be used in the safe and secure transactions between the businesses and consumers.
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For instance, in March 2023, the Brink’s Company has announced the availability of its BLUbeem digital cash payment solution through Clover from Fiserv, a leading point-of-sale (POS) and business management system that enables the success of small and mid-sized businesses (SMBs). Clover retailers may simply collect cash profits through advance credit to their bank accounts the following day using this innovative strategy. Similarly, in May 2023, SISnet, the insurance core of Prosegur AVOS, has released its 13th edition, with the goal of giving the user more control in setting the platform’s features via the Zero Code paradigm. Furthermore, technologies like as machine learning are used to discover anomalies in the processes monitored by the program. Such developments create a wider scope for the growth of the market across the globe.
These standards are developed in the context of regulated entities’ (REs’) existing practice of heavily leveraging IT and IT-enabled services (ITES) to facilitate the company’s structure as well as the products and services provided to clients. Outsourcing of branch services such as cash management and ATM services in which many firms offer ATM monitoring solutions with SLA management, increases the demand for the secure logistics market.
The cash management segment to maintain its leadership status throughout the forecast period
Based on application, the cash management segment held the largest market share in 2022. However, jewelry & precious metal segment is projected to manifest the highest CAGR of 9.8% from 2023 to 2032, owing to the rise of safety standards and equipment adopted by the secure logistics firms. Thus, creating confidence in the client and assures the safety of the gemstones and jewelry.
The static segment to maintain its leadership status throughout the forecast period
Based on type, the static segment held the largest market share in 2022, accounting for nearly two-thirds of the global secure logistics market revenue. However, mobile is projected to manifest the highest CAGR of 9.8% from 2023 to 2032, owing to secure mobility offered by the segment. The normal vehicles are not utilized, instead armored vehicles with advanced security systems are used for transportation. Similarly, air cargo services are also offered in the mobile logistics solutions where the precious cargo is shipped with the help of an aircraft. The goods are transported to the longer distances in less time and movement to international locations is also viable.
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In addition, cyber security is protecting data, networks, and servers from any unauthorized access, malicious attacks, and cyber threats. Cyber security has become crucial for private and public sector as it defends digital assets from data breaches, phishing, and malware and involves best practices to safeguard digital assets from cyber threats. For instance, in February 2022, Expeditors International of Washington a logistics company noticed that hackers have penetrated the company’s network which leads to the total shut down of the company’s operating and accounting systems to protect company’s data as well as of its clients. The integration of enhanced cyber security systems is required, thus creating demand for new and improved cyber security systems in the secure logistics market.
The roadways segment to maintain its lead position during the forecast period
Based on mode of transport, the roadways segment accounted for the largest share in 2022, contributing to nearly half of the global secure logistics market revenue. However, railways are projected to manifest the highest CAGR of 9.4% from 2023 to 2032, owing to dedicated and controlled tracks of the railways that can be easily tracked with the integration of GPS tracking and monitoring system. The bulk movement of the cargo or package reduces the overall cost of movement and in many cases can be more cost effective than the road transport of the package. Such capability of the railways is expected to boost the growth of the market.
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North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022. However, Asia-Pacific is projected to manifest the highest CAGR of 10.5% from 2023 to 2032, owing to heavy investment on the rail network or freight corridor for the movement of goods and packages in the Asia- Pacific region. For instance, in June 2022 the Indian government invested $245 million to improve the railways infrastructure. Similarly, China is also developing rail network across middle-east and to the Europe, and signed a trilateral memorandum of understanding between Kazakhstan’s authorized economic operators, China, and the EU. These developments are expected to drive the growth of secure logistics market in the Asia-Pacific region.
Moreover, the factors such as increase in the demand for outsourcing branch and ATM service, and increase in the demand for product integrity. However, increase in the usage of electronic payment and high cost involved in service hamper the growth of the market. On the contrary, securing last mile delivery and integration of cyber security in secure logistics to foster growth are the major factors that are expected to provide lucrative opportunities for the market growth during the forecast period.
Leading Market Players in Secure Logistics Industry: –
- Allied Universal
- Brink’s incorporated
- CargoGuard
- CMS Info Systems
- PlanITROI, Inc.
- GardaWorld
- Lemuir Group
- Prosegur
- Securitas AB
- Secure Logistics LLC.
The report provides a detailed analysis of these key players in the global secure logistics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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