Mobile Segment to Lead North America Secure Logistics Market Through 2028
A recent market research study, “North America Secure Logistics Market to 2028 – COVID-19 Impact and Regional Analysis by Type and Application,” projects that the market will grow from US$ 13.49 billion in 2021 to US$ 20.42 billion by 2028, registering a CAGR of 6.1% during the forecast period.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00026780
The report highlights key trends shaping the market, with increasing demand for secure logistics in cash circulation and management, along with the rising adoption of ATMs, driving market growth. However, the expanding use of mobile payments and online banking poses a challenge to the industry’s expansion.
The North America market suffered considerable economic losses in the first two quarters of 2020, owing to the high number of COVID-19 cases, especially in the US. The slowdown of economic growth directly impacted the logistics supply chain across the region. Governments imposed lockdowns to limit human movement, which hampered the manufacturing sectors due to lowered production volumes, and severely impacted supply chain and logistics service providers. However, the logistics and supply-chain industry players emphasize digital technologies to cope with losses and continue the business operations. Several logistics companies are focusing on seizing recruitment processes and investing in digital technologies. This is expected to drive the digitization of the logistics supply chain market in North America amid the COVID-19 pandemic.
The North America secure logistics market is segmented on the basis of type, application, and country. On the basis of type, the market is segmented into static and mobile. The mobile segment dominated the North America secure logistics market in 2020 and same segment is expected to be fastest growing during forecast period. Based on the application, the market is segmented into cash management, jewellery and precious metals, manufacturing, and others. The cash management segment dominated the North America secure logistics market in 2020 and same segment is expected to be fastest growing during forecast period. Further, on the basis of country, the market is primarily segmented into the US, Canada, and Mexico.
Market Overview and Dynamics
The North America secure logistics market is expected to grow from US$ 13.49 billion in 2021 to US$ 20.42 billion by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. In this age of globalization, many financial institutions must build strategic relationships to remain competitive and offer a varied range of services to consumers. Several countries across the region has a diverse financial sector that is rapidly expanding, both in terms of established financial services firms’ robust growth and new entrants into the market. Commercial banks, insurance firms, non-banking financial companies, co-operatives, pension funds, mutual funds, and other smaller financial institutions make up the sector. New businesses, such as payment banks, have lately been allowed to be established by the banking regulator, expanding the types of entities that operate in the industry. However, financial sector is primarily a banking sector, with commercial banks accounting for more than 64% of the financial system’s total assets. The several governments across the region has implemented several reforms to liberalize, regulate, and improve this business. The governments across the region have taken several steps to make it easier for micro, small, and medium enterprises (MSMEs) to obtain financing. The expansion and development in banking and financial institutions is anticipated to continue over the years, which is expected to boost the demand for secure logistics in the coming years across the North America region.
Key Market Segments
In terms of type, the mobile segment accounted for the largest share of the North America secure logistics market in 2020. In terms of application, the cash management segment held a larger market share of the North America secure logistics market in 2020.
North America Secure Logistics Market Segmentation
| Category | Segments |
| By Type | Static, Mobile |
| By Application | Cash Management, Jewellery & Precious Metals, Manufacturing, Others |
| By Country | US, Canada, Mexico |
| Key Companies | Allied Universal, BRINK’S INCORPORATED, G4S Limited, GardaWorld, LOOMIS AB, Prosegur, SECURE LOGISTICS LLC, Securitas AB, SERCO GROUP PLC |
North America Secure Logistics Strategic Insights
Strategic insights for the North America Secure Logistics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Secure Logistics Regional Insights
The geographic scope of the North America Secure Logistics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
