North America Secure Logistics Market: Mobile Segment to Dominate During 2021–2028
The North America secure logistics market is poised for significant growth, with the mobile segment expected to dominate the industry from 2021 to 2028. According to a comprehensive market research report titled “North America Secure Logistics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” the market is projected to grow from US13.49billionin2021toUS13.49billionin2021toUS 20.42 billion by 2028, registering a compound annual growth rate (CAGR) of 6.1% during the forecast period. The report highlights key trends, drivers, and restraints shaping the market's growth trajectory.
Key Drivers and Restraints
The growth of the North America secure logistics market is primarily driven by the increasing demand for secure logistics in cash circulation and management, as well as the rising proliferation of ATMs across the region. These factors are critical in ensuring the safe transportation and handling of cash and valuables, particularly in sectors such as banking, retail, and manufacturing.
However, the market faces challenges due to the rapid adoption of mobile payments and online banking, which are reducing the reliance on physical cash transactions. This shift in consumer behavior is expected to hinder the demand for traditional cash management logistics services.
Impact of COVID-19
The COVID-19 pandemic had a profound impact on the North America secure logistics market, particularly during the first two quarters of 2020. The region, especially the United States, experienced significant economic losses due to the high number of COVID-19 cases. Government-imposed lockdowns disrupted manufacturing activities, supply chains, and logistics operations, leading to reduced production volumes and operational challenges for logistics providers.
In response, logistics companies accelerated their adoption of digital technologies to mitigate losses and maintain business continuity. Investments in automation, real-time tracking, and advanced analytics have become critical for logistics providers to enhance efficiency and resilience. This digital transformation is expected to drive long-term growth in the secure logistics market, even as the region recovers from the pandemic's economic impact.
Market Segmentation
The North America secure logistics market is segmented based on type, application, and country:
By Type:
Static: Traditional fixed logistics solutions.
Mobile: Logistics services involving transportation and movement of valuables.
The mobile segment dominated the market in 2020 and is expected to be the fastest-growing segment during the forecast period, driven by the increasing need for secure transportation of cash and high-value goods.
By Application:
Cash Management: Dominated the market in 2020 and is expected to remain the fastest-growing segment.
Jewellery and Precious Metals: High-value goods requiring specialized logistics.
Manufacturing: Secure logistics for raw materials and finished goods.
Others: Includes pharmaceuticals, electronics, and other high-value sectors.
By Country:
United States: The largest market in North America, driven by a robust banking sector and high ATM penetration.
Canada: Steady growth due to increasing demand for secure logistics in retail and manufacturing.
Mexico: Emerging market with growing opportunities in cash management and precious metals logistics.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 - https://www.businessmarketinsights.com/sample/TIPRE00026780
Competitive Landscape
The North America secure logistics market is highly competitive, with key players focusing on organic growth strategies such as product launches, expansions, and partnerships to strengthen their market position. Leading companies in the market include:
Allied Universal
BRINK'S INCORPORATED
G4S Limited
GardaWorld
LOOMIS AB
Prosegur
SECURE LOGISTICS LLC
Securitas AB
SERCO GROUP PLC
For instance, in 2021, Prosegur partnered with Forética, a leading organization in sustainability and corporate social responsibility in Spain, to advance its sustainability initiatives and align with global environmental, social, and governance (ESG) standards.
Future Outlook
The North America secure logistics market is set to witness steady growth, driven by the increasing need for secure transportation and management of cash and valuables. The adoption of advanced technologies, such as IoT-enabled tracking systems, blockchain for secure transactions, and AI-driven logistics optimization, will further enhance market growth.
However, the industry must adapt to the evolving landscape of digital payments and online banking by diversifying its service offerings and focusing on high-growth sectors such as precious metals logistics and pharmaceutical logistics.
In conclusion, the North America secure logistics market presents significant growth opportunities, with the mobile segment and cash management applications leading the way. Companies that leverage digital transformation and sustainability initiatives will be well-positioned to thrive in this dynamic market.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights