Global Cash-in Transit Bags Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Cash-in Transit refers to physical transfer of cash, credit cards etc. from currency chest to banks branches as well as ATMs. Cash in Transit Bags are packaging solutions utilized for transferring cash from one location to another. ATMs, cash centers, retailers, bank branches, and other facilities that handle large amounts of cash may be included in the locations. Furthermore, these bags feature specialized locks and are rain proof. The increasing expansion of ATM network world-wide and growing concern over secured & safe cash transactions as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista - during 2019, the total number of automatic teller machines (ATMs) across India were estimated at 202.2 thousand, and this number further increased to 238.59 thousand. Also, the growing emergence of shared ATMs in developing regions and rising expansion of BFSI sector would create lucrative growth prospectus for the market over the forecast period. However, stringent regulations towards plastic use and rising adoption of digital transaction worldwide impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cash-in Transit Bags Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players as well as growing banking & Finance sector in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising expansion of ATM network as well as increasing emergence of private banking players in the region.
Major market players included in this report are:
A. Rifkin Co.
ADSURE Packaging Limited
Harcor Security Seals
Versapak International Limited
Mega Fortris Group
Packaging Horizons Corporation
Recent Developments in the Market:
In June 2020, Controltekusa announced addition of virtual site survey services for investigation of loss prevention solutions to better support retailers while maintaining a pledge to the health and safety of employees and customers.
On September 16th , 2020, Nelmar Security Packaging Systems installed the newest film extrusion line and increased its output by more than 33%. The new extrusion machinery enables Nelmar to enhance its range of film properties offered to end-users.
Global Cash-in Transit Bags Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Material, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Rest of the World