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 CIT 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 CIT market during the forecasted period
  • China and India are the fastest growing markets for CIT services where the ATM market is expected to grow at a CAGR of 20-25 percent during 2018–2020. 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 CIT 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 reasons to outsource the operation to a specialist service provider is 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


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
  • The cashless payment market will grow steadily at a CAGR of 4.2 percent and 4.3 percent, respectively

Highly Competitive Market

  • The CIT industry is highly competitive with competition, primarily based on pricing
  • The undifferentiated nature of services force the suppliers to reduce prices to beat competition

Supplier Analysis: Market Share of Key Global Suppliers

  • The global CIT market is highly consolidated with the top five suppliers constituting to more than 50 percent of the market
  • Brink’s, being the pioneer in the CIT industry, is estimated to be leading, in terms of global supplier market share, with 17 percent, followed by Prosegur Cash and Loomis, each with 13 percent and 11 percent, respectively
  • GardaWorld and G4S are the other major players, who hold 9 percent and 4 percent, respectively
  • The remaining 46 percent of the market is crowded with more than 500 players, who are mostly regional or local suppliers
  • Such supply landscape with a few big players and large number of small players makes it favorable for further industry consolidation