The global secure logistics market size is anticipated to reach USD 109.25 billion by 2025, according to a new report by Grand View Research, Inc. ATMs play a vital role in maintaining the core banking touchpoint with consumers. Initially, ATMs were introduced to reduce congestion in branches. However, the types of services provided at ATMs have expanded significantly.
According to the World Bank statistics, in 2014, 62% of the world’s adult population had a bank account compared to 51% in 2011. The increasing trend toward introducing cash recycling ATMs is likely to accelerate the ATM market. Economic size and population density have a positive impact on the financial sector. The densely populated countries have a higher ATM penetration and higher geographic branch.
The transport companies are operating under increasing financial challenges, including fuel prices and various natural disasters. The transport companies are experiencing low-profit margins that enabled industries to have repeated business from a satisfied customer. The lack of appropriate security personnel, coupled with the lack of appropriate training, would delay the detection of stolen freight and incur more loss to firms. Transport security encompasses maritime, aviation, air cargo supply chain, and mass passenger transport system.
Transport industry players are acting as transnational companies, offering international freight service across the globe. This increased the risk of terrorist activities seeking to cause mass casualties and economic damages. In Australia, the air cargo supply chain security is regulated under the Aviation Transport Security Regulations 2005 and Aviation Transport Security Act 2004. Lack of law targeting organized theft of freight is expected to restraint the industry demand over the forecast period.
Though majority of companies have implemented up-to-date technologies to track goods over the Internet, they still suffer losses through theft or compliance owing to various reasons including laziness and lack of time for the employees. Companies are providing training for contractors and employees about freight handling and risk analysis to reduce the shrinkage.
However, the increasing penetration of mobile payments is likely to restrain the market growth. Emerging markets, such as Japan, India, China, Taiwan, Malaysia, and Japan, are localizing their content for mobile platforms for maximizing their potential sales. The NFC technology is widely used at pay terminals using mobile devices. Retailers such as Macy’s (U.S.), Walgreens Company (U.S.), and Target Corporation (U.S.) have started using the technology with Google Wallet.
Further key findings from the report suggest:
The increasing use of Transportation Management System (TMS) to process a high volume of shipments is likely to spur the market growth
The diamonds, jewelry & precious metals application is anticipated to witness a significant growth with a CAGR of over 8.9% over the projected period
The static type is anticipated to dominate the market in terms of revenue in 2015 owing to the increasing need for manned guard for various applications
The rapid expansion of banking and financial institutions is expected to drive the Asia Pacific region demand
The key players in the secure logistics market include Loomis (Sweden), Lemuir Group (India), GardaWorld Corporation (Canada), and Maltacourt Global Logistics (UK)
The secure logistics industry is currently going through a consolidation phase and companies are adopting M&A activities to stay ahead of competition
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