Cash is highly preferred over other payment methods. More than 85% of the transactions around the world are carried out via cash and the circulation growth of cash is much higher than that of the GDP around the world. A large number of businesses and financial institutions are hiring specialist cash handling companies to manage their cash operations. This is, thus, boosting the cash handling market with increased demand for managerial operations.
The global cash handling market is bifurcated on the basis of its services i.e. cash logistics, cash management and outsourcing opportunities. Amongst the three, outsourcing trend of cash handling services will accelerate the growth of the global cash handling market. The volume of cash circulation is expected to rise in the coming years, which would create a huge demand for cash handling services round the globe. Emerging market such as China and India are likely to be the most beneficial destinations for multinational payers.
The global cash handling market is projected to experience robust growth owing to factors such as growing private security market, increasing currency circulation, and high inflation rate and rise in ATM withdrawals. Major trends of the market include increased focus on R&D and high growth prospects in emerging markets. The market will be hindered by growing popularity of electronic payment.
The report, “Global Cash Handling Market: Industry Analysis & Outlook (2018-2022)” offers an in-depth analysis of the market. Major companies that have been covered in the report include; The Brink’s Company, Prosegur Group, Loomis AB, and G4S Plc.