The global Secure Logistics Market is estimated to be valued at US$ 89.94 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Secure logistics involves transportation of cash, valuables and other goods which requires high security. Cash-in-transit, secure cash services, armored vehicle manufacturing and electronic security are some of the key segments of secure logistics market. Secure logistics helps mitigate risks during transportation through advanced security systems and armed security professionals.
Market key trends: –
One of the major trends driving the growth of the secure logistics market is increasing adoption of digital security solutions. With rising cases of cargo thefts and terrorism, secure logistics companies are continually investing in advanced telematics, analytics and other digital solutions to remotely track shipments and monitor vehicle movements. Digital security features like geo-fencing, real-time location tracking and instant emergency notifications are helping logistics operators strengthen security protocols and efficiently respond to security breaches.
Segment Analysis: –
The global secure logistics market is segmented into transportation, storage, and services. The transportation segment held the largest market share in 2023. Within transportation, armed transportation is the dominant sub-segment due to growing risks of theft, hijack, and terrorist attacks during transit of valuables. Armored transportation provides high security during transit and reduces risks significantly.
Key Takeaways: –
The Global Secure Logistics Market Growth is expected to witness high, exhibiting a CAGR of 8.0% over the forecast period, due to increasing concerns regarding safety of valuables during transportation and storage.
Regional analysis – North America dominated the global secure logistics market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to growing arms transportation in the U.S. and increasing cash handling in Canada. Asia Pacific is expected to witness the fastest growth rate owing to rising arms transportation in China and India.
Key players: Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. The market is highly competitive with players competing in terms of offerings, reliability, and pricing. Major players are focusing on strengthening their global logistics networks and capabilities to gain more contracts from enterprise clients.
The global secure logistics market size for 2023 is US$ 89.94 billion. Growth concerns regarding safety and security of valuables during transportation and storage are driving demand for specialized secure logistics services globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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