Payments

Cash logistics market to grow by $20B with ATMs leading the way

Image via Adobe Stock

July 7, 2023

The cash logistics market will grow by $20.26 billion from 2022 to 2027 at a compound annual growth rate of 10.16%, according to research from ResearchandMarkets.com. ATMs are one of the prime drivers of growth in the market, according to a release.

Key drivers include:

• Banks outsourcing cash management services.
• Rise in demand for safes and vaults.
• Adoption of robotics by cash logistics firms.
• Growing security issues and concerns.