LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global secure logistics market to grow at a CAGR of almost 7% during the forecast period.
The growing ability to track shipments is one of the major trends being witnessed in the global secure logistics market 2018-2022. Secure logistics service providers assign a tracking code to the consumers to track the movement and time required for the arrival of goods. The consumers are aware of the progress made in the movement of goods owing to shipment tracking.
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According to Technavio’s analysts, one of the key factors contributing to the growth of the global secure logistics market is the rising need for secure logistics for global cash circulation:
Global secure logistics market: Rising need for secure logistics for global cash circulation
In 2017, the increase in digital payments was expected to replace the use of cash transactions across the globe. But, recent data has projected that the flow of cash across the world is soaring high. The net global cash flow in the fourth quarter of 2017 was approximately USD 1.64 million. Secure logistics is essential in making cash available to the users as cash logistics is the backbone of cash circulation.
According to a senior research analyst at Technavio, “One of the major factors contributing to the prevalence of cash transactions is convenience. Cash transactions do not require a valid bank account or phone number to complete the transaction. Additionally, it is safe to have cash during emergencies. Owing to such factors people still rely on cash transactions when compared with online payments.”
Global secure logistics market: Segmentation analysis
The global secure logistics market research report provides market segmentation by service (security services and cash services) and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
EMEA held the largest share of the market in 2017, accounting for close to 41% share. It was followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2018-2022.
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Market Landscape
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Five Forces Analysis
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Vendor Landscape
- Vendors covered
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