Secure Logistics Market Growth & Trends
The global secure logistics market size is anticipated to reach USD 153.44 billion by 2030, registering a CAGR of 8.9% over the forecast period, 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. The increasing trend of introducing cash recycling ATMs is likely to accelerate the ATM market growth. 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 customers. The lack of appropriate security personnel, coupled with the lack of appropriate training, would delay the detection of stolen freight and incur more losses to firms. Transport security encompasses maritime, aviation, air cargo supply chain, and mass passenger transport system.The transport industry players are acting as transnational companies, offering international freight services 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. The lack of law targeting organized theft of freight is expected to restrain the industry growth over the forecast period.Though the 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 shrinkage.
Request a free sample copy or view report summary:
Secure Logistics Market Report
Report Attribute Details
Market size value in 2023 — USD 84.71 billion
Revenue forecast in 2030 — USD 153.44 billion
Growth rate — CAGR of 8.9% from 2023 to 2030
Base year for estimation — 2022
Historicaldata — 2017–2021
Forecast period — 2023–2030
Secure Logistics Market Report Highlights
- The diamonds, jewelry & precious metals application is anticipated to witness a significant growth with a CAGR of over 9.0% over the projected period
- The static type is anticipated to dominate the market in terms of revenue in 2022 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 regional market
- The market is currently going through a consolidation phase and companies are adopting M&A activities to stay ahead of the competition
- The increasing penetration of mobile payments is likely to restrain the global market growth to some extent
- Emerging markets, such as 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
