DUBLIN--(BUSINESS WIRE)--The "India ATM Cash Management Market Forecast to 2023 - ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing" report has been added to ResearchAndMarkets.com's offering.
India cash management services market increased positively at a double digit CAGR during the period FY'2013 - FY' 2018, majorly due to increase in services offered by the cash management companies including cash vault services, bullion management, cash processing and others. High number of cash transaction in ATMs directly contributed to the increasing growth of Cash Management Services in India.
Cash Management market has observed a decline in growth rate during FY' 2016 to FY'2017 due to effect of demonetization on the financial sector which negatively affected the profitability of cash management companies as majority of the ATMs remained out of cash during the period of demonetization. However, in FY' 18 cash in circulation is back and is currently at an all-time high.
It is anticipated that India cash management services market will generate revenue at a positive single digit CAGR during the period FY' 2018 - FY' 2023. This is majorly due to increasing deployment of ATMs in rural areas under the financial inclusion scheme imposed by Indian government.
Schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY) has further increased the demand of cash at ATMs as number of active ATM card holders have increased rapidly, which will directly increase the demand of cash management companies.
On the other hand, it is anticipated that market of cash management services will increase gradually with the high number of cash transaction in ATMs. Though there are government reforms to move the economy towards cashless, Cash has and is expected to continue to remain King in terms of payments and transactions.
With expected increase in the FDI in the Cash Management market, it is expected that with the entry of new foreign entrants, the market will become more fragmented in the near future. CMS Infosystem, Writer Safeguard, SIS Prosegur, Securevalue, Radiant Cash, Brink's Arya, Logicash are some of the major players which constitute majority of the overall Cash Management Market. Out of these players, CMS Infosystem continues to be the market leader for past 4 years.
- Brink's Arya
- CMS Infosystem
- Radiant Cash
- SIS Prosegur
- Writer Safeguard
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Indian Economy Overview
4. Banking Industry in India
5. Historical Trend of Cash Circulation in India, FY' 2013 - FY' 2018
6. India ATM Cash Management Services Market Introduction and Market Size
7. India ATM Cash Management Services Market Segmentation, FY'2018
8. Competitive Landscape of Major Players In India ATM Cash Management Services Market
9. Company Profiles of Major Players in India ATM Managed Services Market
10. India ATM Cash Management Services Market Future Outlook and Projections, FY' 2019 - FY' 2023E
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