North America's Secure Logistics Market: An Expanding Landscape

The North American secure logistics market is projected to expand significantly, growing from US$ 13.49 billion in 2021 to US$ 20.42 billion by 2028, demonstrating a Compound Annual Growth Rate (CAGR) of 6.1% during this period. This growth is primarily fueled by the rapid expansion and increasing complexity of the financial sector across the region.

Driving Factors: A Robust Financial Sector

In today's globalized economy, financial institutions are actively forging strategic alliances to enhance their competitiveness and diversify service offerings. North America boasts a dynamic financial sector characterized by both the strong growth of established firms and the emergence of new players. This sector encompasses a wide array of entities including:

• Commercial banks
• Insurance firms
• Non-banking financial companies
• Co-operatives
• Pension funds
• Mutual funds
• Other smaller financial institutions
  
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Notably, new business models like payment banks have recently been authorized, further broadening the scope of entities operating in the industry.

The banking sector remains the dominant force, with commercial banks holding over 64% of the financial system's total assets. Governments across North America have actively implemented reforms aimed at liberalizing, regulating, and improving this crucial industry. Additionally, significant steps have been taken to facilitate access to financing for Micro, Small, and Medium Enterprises (MSMEs).

The continued expansion and development within banking and financial institutions are expected to be a key driver for the increasing demand for secure logistics services across the North American region in the coming years.

Market Introduction

The US, Canada, and Mexico are among the prime contributors to the secure logistics market in North America. The US and Mexico are the highest-ranked countries for domestic logistics in the region. Moreover, the US, Canada, and Mexico are top countries known for international logistics. Stable economies and technological advancements aid the growth of diverse markets in the region. Cash transactions are the most common sort of financial transaction in North America, and they are a fundamental instrument. Cash payments are popular due to the ease with which they may be made and the fact that they are free of charge and confidential. According to the US Federal Reserve Bank of Atlanta's "Diary of Consumer Payment Choice survey report," cash payment instrument contributed a significant share with more than one-quarter of payments, approximately 26.0% of all total payment transactions. Cash management and secure logistical planning are essential for ensuring that citizens have access to cash when they need it. For instance, Honduras, Mexico, Jamaica, Nicaragua, and other developing countries in the region are attempting to increase the number of ATMs and bank branches in their country. The average number of bank branches per 100,000 people in North America is 27.82. Cash in circulation is still prevalent due to the widespread use of cash in US households. According to the Federal Reserve Bank of San Francisco, around 89% of American consumers carry cash up to some extent. Thus, a rise in the number of ATMs and an increase in cash withdrawals from ATMs are anticipated to drive the North America secure logistics market during the forecast period.During the COVID-19 pandemic, people were encouraged to avoid physical contact as much as possible to prevent the spread of the COVID-19 virus. As a result, it was envisaged that small and local businesses and large corporations, and supermarkets would use digital currency for money transactions. Hence, in 2020, the secure logistics market faced significant challenges.

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.  

Strategic Insights: North America Secure Logistics Market

Strategic insights into the North America secure logistics market offer a comprehensive, data-driven evaluation of the industry’s current landscape, highlighting prevailing trends, leading players, and regional dynamics. These insights provide actionable guidance for stakeholders—whether investors, service providers, or manufacturers—enabling them to uncover underserved market segments and craft distinct value propositions. By leveraging advanced data analytics, stakeholders can better predict market movements and stay ahead of emerging trends. With a forward-looking approach, these insights support long-term planning, enhance competitive positioning, and empower informed decision-making. Ultimately, they serve as a critical tool for driving profitability and achieving strategic business goals in this evolving market.

North America Secure Logistics Regional Insights

The geographic scope of the North America Secure Logistics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights