News

Cash management market expected to reach $25B

February 14, 2020

The global cash management market is expected to reach $25.4 billion by 2027, fueled by a compound annual growth rate of 12.6% as companies increasingly turn to cash management to predict their flow of funds, according to a report by Grand View Research Inc.

The growth is related to expansion in e-commerce and automated systems in the banking industry. The use of cloud-based systems in banking is also expected to increase the need for automated cash management in the sector. 

Another major factor will be the adoption of smart-safe technology, which allows businesses to store funds at a location, automatically count the cash funds, and in many cases, transfer the value of those funds to an account.