Security

Cash logistics market to grow by $24B

Photo: redfoxca - stock.adobe.com

July 16, 2024

The cash logistics market will grow by $24 billion from 2024 to 2028, according to research from Technavio. It will also grow at a compound annual growth rate of 10.86% during this period, according to a press release.

Cash logistics is particularly important in the banking industry for ATM replenishment, cash-in-transit services and more. The growing demand for cash recycling and automated teller safes is impacting the market in both banking and other industries.

Despite this growth, the market has several challenges including cash-in-transit vehicle robberies and the continual growth in alternative payment methods, such as cards and mobile payments.