July 21, 2024
Secure Logistics Market
Ict

Global Secure Logistics Market Is Estimated To Witness High Growth Owing To Increasing Demand for Cash Management Services

The secure logistics market is estimated to be valued at US$ 89.94 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: –

The secure logistics market covers services that provide physical security and transportation of valuables such as cash, diamonds, jewellery, and other precious metals. This includes cash management services, armored transport, secure storage and warehouses, and consulting services. The demand for secure logistics has increased due to growing banking sector, retail sector for transportation of cash, and other valuables.

Market Dynamics: –

The secure logistics market is expected to witness significant growth during the forecast period primarily owing to increasing demand for cash management services in various end-use industries. Additionally, growth of the e-commerce industry has also increased the demand for secure delivery of products. Moreover, increasing crime rates have raised the need for secure transportation and storage of valuables across industries such as banking, retail, and manufacturing. The key players operating in the market are focusing on increasing their geographical presence and offering digitized and technology-driven secure logistics solutions to gain competitive advantage.

SWOT Analysis: –

  • Strength: –
    • Secure logistics is growing rapidly due to increasing concerns for safety and security of valuable cargo.
    • Presence of technologically advanced security systems and trained security professionals ensure reliable security services.
    • Major players have widespread network across the regions catering to diverse customer requirements.
  • Weakness: –
    • High costs associated with security monitoring and personnel may reduce profit margins for companies.
    • Dependency on technology raises concerns about cyber threats and data thefts.
  • Opportunity: –
    • Emerging markets offer significant growth potential driven by rising trade and industrialization.
    • Adoption of Internet of Things (IoT), AI and blockchain provides opportunities to enhance security surveillance.
  • Threats: –
    • Changing government regulations regarding security and privacy may require frequent upgrades.
    • Potential supply chain disruptions and geo-political issues pose risks to logistics networks.

Key Takeaways: –

The Global Secure Logistics Market Demand is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing international trade and rising threats to cargo security. Air transport dominates the market and is expected to grow at fastest pace due to rising e-commerce activities requiring swift cargo deliveries. North America holds the major market share currently owing to presence of key players and large number of logistics companies catering to both domestic as well as international trade in the region.

Asia Pacific is poised to be the fastest growing region in secure logistics market driven by increasing foreign investments, growing middle-class population and establishment of manufacturing units in countries like China, India and ASEAN countries. China dominates the Asia Pacific region owing to large manufacturing sector and presence of key ports modernizing logistics infrastructure.

Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. The company’s focus on mergers, acquisitions and partnerships for geographical expansion and to enhance service offerings by leveraging cutting-edge technologies.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it