Market Analysis: Global Cash- in Transit Bags Market
Global cash- in transit bags market is expected to rise to an estimated value of USD 468.75 million by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the strategy adopted by various market players to enhance their geographical presence and capabilities.
Market Definition: Global Cash- in Transit Bags Market
Cash-in transit bags are packaging solutions designed to improve the security and protection of valuable assets such as cash, documents, jewellery, coins and other contents during the transit from financial institutions, retail facilities or any other cash-dealing facility. These solutions promote better protection as they are specially designed against wear, tear, theft or any other external factors.
Availability of biodegradable cash-in-transit bags presented by various manufacturers is expected to drive the growth of the market
Growing focus on transfer of assets in the physical form due to high chances of cyber thefts; this factor is expected to boost the growth of the market
Higher emphasis of governments to promote digitization and digital fund transfers; this factor is expected to restrict the growth of the market
Availability of electronic payment offerings and digital fund transfer is expected to restrict the growth of the market
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Segmentation: Global Cash- in Transit Bags Market
By Bag Type
By Material Type
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of Middle East and Africa
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Key Developments in the Market:
In September 2018, TydenBrooks announced the launch of new security solutions with the availability of tamper-evident bags. This new innovative security solution provides highly-secure transportation capabilities and is designed for high value contents. Designed from PVC and consisting of reverse zippers and internal stitching
In April 2016, ARCA announced the compatibility of self-sealing cash bags with iBOX system. This compatibility between two highly effective transit systems is expected to increase the protection feature set of the combined system while increasing the efficiency of transit time
Global cash- in transit bags market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cash- in transit bags market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global cash- in transit bags market are TruSeal (Pty) Ltd; Harcor; ADSURE Packaging Limited; ITW Envopak; ProAmpac; Dynaflex Pvt. Ltd; Versapak International Ltd; NOVOLEX SHIELDS LLC; NELMAR Security Packaging Systems; A. Rifkin Co.; Packaging Horizons Corporation; Initial Packaging Solutions Ltd; Mega Fortris Group Europe; Amerplast; AXA d.o.o.; Seals Expert; Security4Transit; Block and Company; Secure Mailing Systems Inc; TydenBrooks and B-Sealed Pty. Ltd. among others.