February 29, 2024
Secure Logistics Market
Ict

The Global Secure Logistics Market Driven By Growing E-Commerce Industry

The secure logistics market involves transportation and warehousing of valuable goods or assets to prevent theft, damage, or loss during transit or storage. This includes cash-in-transit, high-value goods logistics, and other custom protection services. Securing shipments is crucial for transportation of goods like paintings, diamonds, gold, medicines, confidential documents, and electronics. With the growth in international trade and rise of e-commerce, securing logistics has become an indispensable service globally. Managing inventory and protecting goods from various threats along the supply chain is a major concern for businesses worldwide. Effective security solutions help minimize risks and ensure safety of goods.

The global Secure Logistics Market is estimated to be valued at US$ 89.94 Bn 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 key trends in the secure logistics market is the adoption of advanced technologies like GPS tracking, biometrics, blockchains and IoT devices for real-time cargo monitoring and visibility. This allows logistics companies to monitor shipments across different transit points, detect unauthorized access or anomalies, and take preventive action. Automation of processes through machine learning and artificial intelligence is another trend, helping secure logistics providers offer services with higher accuracy and efficiency. Furthermore, growing demand for armored transportation of banknotes, bullion and diamonds has prompted secure logistics players to expand custom protection services and invest in high security vehicles equipped with advanced surveillance systems.

Porter’s Analysis

Threat of new entrants: Low barriers to entry enable new firms to enter the secure logistics market easily. However, established players have significant resources and long-standing client relationships.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and competition among existing players.

Bargaining power of suppliers: Suppliers have low bargaining power due to presence of multiple supply sources for raw materials and services.

Threat of new substitutes: Low threat of substitutes existing as secure logistics services have specialized skill sets and technologies.

Competitive rivalry: High competitive rivalry exists among major players to gain higher market share.

Key Takeaways

The Global Secure Logistics Market Size is expected to witness high growth over the forecast period.

North America is currently the largest market for secure logistics owing to high demand from industries such as oil and gas, financial services in the region. The increasing adoption of security technologies, emergence of highly regulated markets and infrastructure development are attributed to the high growth of the market in North America.

Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. Garda World offers end-to-end security and risk management services including, consulting, investigations, mobile security services, and risk management across North America and internationally. Brinks provides cash management services, secure logistics services, and other outsourced services to businesses worldwide.

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