The Latin America, Middle East and Africa Secure Logistics Market would witness market growth of 10.2% CAGR during the forecast period (2023-2030).
With the increasing reliance on digital data and technology, the risk of cyberattacks on data during transit has grown. This has led to the adoption of these logistics solutions that protect digital assets during transportation. In an increasingly volatile world, security concerns have risen, necessitating the adoption of secure logistics for assets and sensitive information. This is particularly relevant in defense, government, and critical infrastructure sectors. Innovations in technology, including IoT (Internet of Things), blockchain, and AI, have enabled the development of more advanced secure logistics solutions. These technologies have improved tracking, monitoring, and security measures. Integrating Internet of Things (IoT) devices into the supply chain allows for real-time tracking and monitoring of assets. Sensors on packages can provide information on location, temperature, humidity, and potential tampering, enhancing security and transparency.
Saudi Arabia serves as a regional hub for jewellery and precious metal trade. The country attracts buyers from neighbouring nations, and hosts trade exhibitions and events. Saudi Arabia is known for its gold production. The mining and refining gold and other precious metals require secure transportation and storage of raw materials, refined products, and by-products. The jewellery and precious metals industry in Saudi Arabia is involved in global trade, both imports and exports. The advancement of the jewellery and precious metals industry in Saudi Arabia significantly boosts the demand for secure logistics services.
Additionally, Saudi Arabia has experienced economic growth and modernization, leading to increased financial transactions and banking activities. The growing demand for cash access and banking services has driven the proliferation of ATMs across the country. Major cities and urban centers are witnessing a higher concentration of ATMs to meet the banking needs of the urban population. This urbanization trend amplifies the need for secure logistics to replenish and maintain ATMs. Moreover, cash remains a preferred mode of payment in Saudi Arabia, despite the increasing use of digital payment methods. This preference for cash transactions contributes to the continuous demand for ATMs and cash replenishment services. The factors mentioned above will drive the regional market growth.
The Brazil market dominated the LAMEA Secure Logistics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,537.7 Million by 2030. The Argentina market is exhibiting a CAGR of 10.8% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 9.9% during (2023 - 2030).
Based on Type, the market is segmented into Static, and Mobile. Based on Mode of Transport, the market is segmented into Roadways, Railways, and Airways. Based on Application, the market is segmented into Cash Management, Diamonds, Jewellery & Precious Metal, Manufacturing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Secure Logistics Market is Projected to reach USD 154.7 Billion by 2030, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Garda World Security Corporation (GardaWorld) (BC Partners), Lemuir Group, Securitas AB, Brink's Incorporated (Brink's), PlanITROI, Inc., CargoGuard GmbH, CMS Info Systems Private Limited (CMS), Prosegur, Allied Universal, and Secure Logistics LLC.
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