News Transport / Traffic Vertical Solutions World

Secure Logistics Market Set to Hit Over $153 Billion by 2030

The global secure logistics market size is anticipated to reach USD 153.44 billion by 2030, registering a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc

Transport companies around the globe are operating under increasing financial challenges, including fuel prices and various natural disasters. The transport companies are experiencing low-profit margins that enabled industries to have repeated business from a satisfied customers. The lack of appropriate security personnel, coupled with the lack of appropriate training, could delay the detection of stolen freight and incur more losses to firms.

Transport security encompasses maritime, aviation, air cargo supply chain, and mass passenger transport system. The transport industry players are acting as transnational companies, offering international freight services across the globe.

In addition, ATMs are playing a vital role in maintaining the core banking touchpoint with consumers. Initially, ATMs were introduced to reduce congestion in branches. However, the types of services provided at ATMs have expanded significantly. The increasing trend of introducing cash recycling ATMs is likely to accelerate the ATM market growth. Economic size and population density have a positive impact on the financial sector. The densely populated countries have a higher ATM penetration and higher geographic branch.

This presents an increased risk of terrorist activities seeking to cause mass casualties and economic damages. In Australia, the air cargo supply chain security is regulated under the Aviation Transport Security Regulations 2005 and Aviation Transport Security Act 2004. The lack of law targeting organised theft of freight is expected to restrain the industry growth over the forecast period.Though the majority of companies have implemented up-to-date technologies to track goods over the Internet, they still suffer losses through theft or compliance owing to various reasons including laziness and lack of time for the employees. Companies are providing training for contractors and employees about freight handling and risk analysis to reduce shrinkage.

This market is dominated by international companies such as, Brinks, Cargoguard, CMS Info Systems, G4S, Gardaworld, Lemuir Group, Loomis, Maltacourt, Planitroi, Prosegur, Allied Universal and Securitas for example.

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