Report : North America Secure Logistics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Static and Mobile) and Application (Cash Management, Jewellery and Precious Metals, Manufacturing, and Others)
Mobile Segment to Dominate North America Secure Logistics Market During 2021–2028
According to a new market research study on “North America Secure Logistics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 20.42 billion by 2028 from US$ 13.49 billion in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the North America secure logistics market along with the drivers and restraints pertaining to the market growth. Growing need for secure logistics for cash circulation and management and rising proliferation of ATMs are the major factor driving the growth of the North America secure logistics market. However, surging penetration of mobile payment and online banking hinders the growth of North America secure logistics market.
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.
Allied Universal, BRINK'S INCORPORATED, G4S Limited, GardaWorld, LOOMIS AB, Prosegur, SECURE LOGISTICS LLC, Securitas AB, and SERCO GROUP PLC are among the leading companies in the North America secure logistics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Prosegur has signed an agreement to become a partner of Forética, the leading organisation in sustainability and corporate social responsibility in Spain, with the aim of continuing to develop alliances that help to accelerate the transition process towards a more sustainable model.
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