July 19, 2024
Secure Logistics Market
Ict

The Secure Logistics Market Is Driven By Growth In International Trade And Transportation

The secure logistics market consists of a variety of logistic services such as transportation, warehousing, tracking, and more to allow for safe and secure transit of goods across airports, marine ports, rail networks, and roadways. Secure logistics services provide protection against theft, damage, and natural disasters through armed security, GPS tracking, dual-locking mechanisms, surveillance systems, and rigorous employee background checks. They ensure compliance with domestic and international regulations on cargo security.

The global Secure Logistics Market is estimated to be valued at US$ 89.94 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

One of the major trends in the secure logistics market is the increasing adoption of blockchain technology. Blockchain allows companies to securely track shipments in real-time across different stakeholders and transportation modes. It prevents cargo tampering and establishes an immutable record of transactions. Several secure logistics operators are investing in blockchain solutions to digitize documentation processes, manage inventory, and improve supply chain visibility. Another key trend is the growth in maritime security due to rising ocean freight trade and threats of piracy. Secure logistics providers are focusing on offering armed security and surveillance personnel on board ships, escort vessels, and anti-piracy barriers to safeguard marine cargo routes.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the secure logistics market is low. Establishing operations requires high capital investment and developing trusted relationships with clients takes substantial time and effort.

Bargaining power of buyers: The bargaining power of buyers in the secure logistics market is high. Buyers have numerous established players to choose from and can negotiate on pricing and service quality.

Bargaining power of suppliers: The bargaining power of suppliers in the secure logistics market is low. Secure logistics companies have established supply chains and alternative sourcing options available.

Threat of new substitutes: The threat of substitutes in the secure logistics market is low. Emerging technologies provide few substitutes for physical security and monitoring during transit.

Competitive rivalry: Competition in the secure logistics market is high. Players compete based on pricing, service offerings, reputation, and robust security protocols.

Key Takeaways

The Global Secure Logistics Market Growth is expected to witness high over the forecast period driven by increasing international trade and rising security concerns. The market size is projected to reach US$ 89.94 Bn by 2024, growing at a CAGR of 7.3% between 2023 and 2030.

Regional analysis: North America dominates the secure logistics market currently owing to presence of leading players and high demand for security solutions from various industries in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing international trade and industrial activity in China, India, and other developing countries in the region.

Key players: Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. Garda World is one of the largest security companies globally, providing services across North America, Africa, the Middle East, and Asia Pacific. Brinks is a leading player in cash management and secure logistics.

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