Global Market Outlook on Cash-In-Transit 

  • The global CIT services market was valued at $17.35 billion in 2017. The market is forecasted to grow at a CAGR of 4.4 percent till 2020
  • CIT growth in emerging markets expected to outperform global market growth, expected to grow at three times more than in Europe and North America
  • Factors such as increasing ATM installations, stringent banking regulations and increasing crime rates drive the need for CIT services across the globeGlobal Cash-In-Transit Market

Global Cash-in-Transit industry trends

  • The major driver for the cash-in-transit industry is the growing number of ATM’s across the globe. In 2017, it is estimated that there were around 3.7 million ATMs globally, and the total number of withdrawals from these ATMs were close to 10.6 billion. This in turn would fuel the growth of cash-in-transit market during the forecasted period
  • China and India are the fastest growing markets for cash-in-transit services where the ATM market is expected to grow at a CAGR of 20-25 percent during 2015–2018.However, this is well established in developed markets like South Korea, Japan and Australia.
  • Around 80–85 percent of consumer transactions across the globe are still performed through cash. Banks, financial institutions, large retailers, governments are the major buyers of cash-in-transit services

Global Cash-in-Transit market analysis


Increasing Crime Rate

  • Increase in crime rates has driven the outsourcing of cash handling services to specialist service providers who can perform the transaction in a more secured process
  • One of the other major reason to outsource the operation to a specialist service provider is for continuous technology implementation
    – For Example: “CIT Tracker” is a device which is hidden covertly during cash transit process, which supports by alerting the security personnel during an act of theft. It also supports in asset recovery and criminal apprehension

Increasing ATM Service Expansion
Rapidly increasing ATM installations in the developing regions is a major driver of the cash-in-transit service. For instance, only in the APAC region, the installation rate is expected to grow at a CAGR of 14–18 percent between 2015–2018

Laws and Regulations
Complying with laws and regulations, related to cash-in-transit, has driven the outsourcing of these services to specialist service providers. Stringent regulations from bank authorities in moving cash from one place to another will give more impetus for cash-in-transit service Source: Beroe Analysis 

Global Constraints
Increasing Cashless Payment in Developed Regions
It is estimated that cashless payments will account for about 45 percent of the total transactions in the North America and Europe. Furthermore, the cashless payment market will grow steadily at a CAGR of 4.2 percent and 4.3 percent, respectively

Supplier Analysis: Market Share of Key Global Suppliers

  • Brink’s, being the pioneer in the cash-in-transit industry, is estimated to be leading, in terms of global supplier market share, with 20 percent, followed by Prosegur and Loomis, each with 17 percent and 16 percent respectively
  • GardaWorld and tier-II cash-in-transit vendors, comprising of regional and country-level suppliers, hold 5 percent and 30 percent respectively