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Secure Logistics Market to Grow by USD 32.74 Billion (2024-2028) Driven by AI and Increasing Demand for Secure Global Cash Circulation

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NEW YORK, Oct. 3, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global secure logistics market size is estimated to grow by USD 32.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.4%  during the forecast period. Rising need for secure logistics for global cash circulation is driving market growth, with a trend towards growing ability to track shipments. However, competition from multiple secure logistics players  poses a challenge. Key market players include AGS Transact Technologies Ltd., Allied Universal, Cash Logistik Security AG, CMS Info Systems Ltd., GardaWorld Security Corp., Security Logistics Co., Japan Post Holdings Co. Ltd., Loomis AB, Paragon Security, Prosegur Compania de Seguridad SA, Securitas AB, Security Plus Group, SIS Ltd., SSL Logistics, StorageVault Canada Inc., The Brinks Co., and Writer Business Services Pvt. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Secure Logistics Market Scope

Report Coverage

Details

Base year

2023

Historic period

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.4%

Market growth 2024-2028

USD 32736.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.75

Regional analysis

APAC, North America, Europe, Middle East and
Africa, and South America

Performing market contribution

APAC at 37%

Key countries

US, China, Canada, Germany, India, and UK

Key companies profiled

AGS Transact Technologies Ltd., Allied
Universal, Cash Logistik Security AG, CMS Info
Systems Ltd., GardaWorld Security Corp.,
Global Security Logistics Co., Japan Post
Holdings Co. Ltd., Loomis AB, Paragon Security,
Prosegur Compania de Seguridad SA, Securitas
AB, Security Plus Group, SIS Ltd., SSL
Logistics, StorageVault Canada Inc., The Brinks
Co., and Writer Business Services Pvt. Ltd.

Market Driver

Secure logistics providers offer consumers a tracking code to monitor the progress and estimated arrival time of their shipments. This feature, enabled by various tracking technologies, provides numerous benefits. By keeping track of pick-up times and total transit durations, shippers can optimize costs and enhance logistics performance. Real-time visibility into shipment locations allows for quick response to delays and the ability to adjust transportation methods for improvement. Advanced notifications about delivery status help manage customer expectations and prevent dissatisfaction. Technologies like Automatic Identification and Data Capture (AIDC), barcode readers, and Radio-Frequency Identification (RFID) are commonly used for tracking. AIDC includes barcode readers and RFID, which utilize radio waves for data recognition. Bluetooth-enabled devices and real-time tracking technologies provide near-real-time coverage, enabling accurate shipment monitoring and theft prevention. Traditional tracking methods remain relevant, but advancements in technology continue to improve supply chain visibility. 

Secure logistics is a crucial aspect of supply chain management, ensuring the safe transport and storage of valuable goods. Deregulation and foreign direct investments are driving growth in this market, with high net-worth individuals and wealth management services also utilizing secure logistics for diamonds, fine arts, and other high-value items. Technology trends like blockchain, IoT, AI, and machine learning algorithms are enhancing security and efficiency. Governmental agencies and international regulations play a key role in setting standards for cash logistics, manufacturing, public infrastructure, and transportation modes like road, rail, air, and e-commerce. Static and mobile secure logistics solutions cater to various industries, including financial institutions, retailers, and inventory management. Real-time monitoring using RFID, GPS, and security personnel, along with armored vehicles and airplanes, ensure confidentiality and product authenticity for temperature-sensitive goods and valuable items. Outsourcing services in cash logistics, IT, and ATM management further strengthen the secure logistics market. 

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 Market Challenges

The global secure logistics market is characterized by the presence of numerous competitors offering similar services, driven by the forces of globalization. To stand out, logistics providers must adapt to customers’ unique needs, focusing on cost optimization and efficient order processing. Reducing transport delays and minimizing fuel costs are essential for cost optimization. Order processing involves accurately and swiftly handling orders to ensure customer satisfaction. Maintaining well-maintained fixed assets is crucial for consistent earnings and long-term success. In the competitive secure logistics market, companies that effectively implement these strategies gain a competitive edge.Secure logistics is a critical business function that ensures the safe and efficient transportation of valuable goods. Challenges in this market include managing Radio Frequency Identification (RFID) and Global Positioning System (GPS) tracking for real-time monitoring. Security personnel, armored vehicles, and advanced technology like GPS tracking systems and tamper evident seals are essential for safeguarding cargo. Valuables such as fine arts, precious metals, and rare materials require extra security measures. Outsourcing logistics to IT services and cash management companies can improve efficiency but raises concerns over confidentiality and regulatory compliance. Temperature-sensitive products and time-critical deliveries add complexity. Security technology, weapon handling, and armed personnel are necessary for defense instruments, jewels, gems, and cash-in-transit. Robbery is a constant threat, making reliable SLA management crucial. Product authenticity is another challenge, especially for high-value items like precious metals and rare minerals. Last-mile delivery and cross-border transport require security measures. Brink Incorporated, Cash Services, and Security Services are key players in this market, offering armored car transportation and ATM management solutions.

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Segment Overview 

This secure logistics market report extensively covers market segmentation by  

Service 1.1 Security services1.2 Cash servicesGeography 2.1 APAC2.2 North America2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 Security services-  The outsourcing of security services is on the rise due to the financial advantages of delegating non-core activities to established vendors. This global trend is driven by the high costs associated with maintaining an in-house security team, including recruitment and management. Securitas and G4S are leading vendors in this market, offering fully maintained security teams without requiring intervention from the client. Their trained workforce caters to diverse user requirements, such as corporate clients, shopping malls, individual customers, and airports. These factors are expected to fuel the growth of the secure logistics market in the forecast period.

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Research Analysis

Secure logistics is a critical component of the supply chain, ensuring the safe and efficient transportation and storage of high-value goods. Deregulation and Foreign Direct Investments have fueled the growth of this market, particularly in emerging economies. Wealth management services and High Net-worth Individuals (HNWIs) have increased the demand for secure logistics solutions, including cash logistics and inventory management. Technological advancements, such as Blockchain, Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning algorithms, are revolutionizing secure logistics. Real-time monitoring through GPS and RFID technology, security personnel, armored vehicles, and cash-in-transit companies are essential players in this market. The transportation sector includes airplanes, while warehousing and cash management services are crucial for secure storage. Diamonds and gemstones require specialized secure logistics solutions due to their high value and vulnerability to theft. Cash services, including ATMs and cash management systems, are a significant segment of the market. Electronic payment systems have also increased the demand for secure logistics services to ensure the safety of digital transactions. Security services, including cash-in-transit companies and financial organizations, are key stakeholders in the secure logistics market. The integration of AI and machine learning algorithms in inventory management and transportation optimizes operations and reduces risks. Overall, the secure logistics market is a dynamic and evolving industry that plays a vital role in the global economy.

Market Research Overview

Secure logistics is a specialized field of supply chain management that focuses on the safe and efficient transportation and storage of high-value goods. With deregulation and increased foreign direct investments, the market for secure logistics has seen significant growth. High net-worth individuals and wealth management services are major consumers of secure logistics services for diamonds, manufacturing components, public infrastructure, and other valuable assets. Technological advancements such as blockchain, Internet of Things, artificial intelligence, and machine learning algorithms are transforming the industry, providing real-time monitoring, confidentiality, and regulatory compliance. Governmental agencies and international regulations play a crucial role in shaping the secure logistics landscape. Cash logistics, including cash management, ATM services, and cash-in-transit companies, are a significant segment of the secure logistics market. Temperature-sensitive products, fine arts, precious metals, and security technology are other key areas of focus. Static and mobile types of secure logistics cater to various industries, including retail, e-commerce, transportation, and warehousing. Security technology, such as tamper evident seals, GPS tracking systems, and armed security personnel, is essential for secure transportation of goods. Last mile delivery, cargo transportation, and defense instruments are other important applications of secure logistics. Outsourcing, IT services, and cross-border transport are also driving the growth of the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceSecurity ServicesCash ServicesGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Sony Semiconductor Solutions to Release the Industry’s First CMOS Image Sensor for Automotive Cameras That Can Simultaneously Process and Output RAW and YUV Images

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Contributing to Simplified Systems by Expanding Single-Camera Applications

ATSUGI, Japan, Oct. 3, 2024 /PRNewswire/ — Sony Semiconductor Solutions Corporation (SSS) today announced the upcoming release of the ISX038 CMOS image sensor for automotive cameras, the industry’s first*1 product that can simultaneously process and output RAW*2 and YUV*3 images.

The new sensor product has proprietary ISP*4 inside and can process and output RAW and YUV images simultaneously. RAW images are required for external environment detection and recognition in advanced driver-assistance systems (ADAS) and autonomous driving systems (AD), while the YUV images are provided for infotainment applications such as the drive recorder and augmented reality (AR).

By expanding the applications a single camera can offer, the new product helps simplify automotive camera systems and saves space, cost, and power.

*1   Among CMOS sensors for automotive cameras. According to SSS research (as of announcement on October 4, 2024).
*2   Image for recognition on a computer.
*3   Image for driver visual such as recording or displaying on a monitor.
*4   Image signal processor – a circuit for image processing.

Model name

Sample
shipment date
(planned)

Sample price
(including tax)

ISX038 1/1.7-type (9.30 mm diagonal)
8.39- effective-megapixel*5
CMOS image sensor

October 2024

¥15,000*6

*5   Based on the image sensor effective pixel specification method.
*6   May vary depending on the volume shipped and other conditions.

The roles of automotive cameras continue to diversify in line with advances in ADAS and AD and increasing needs and requirements pertaining to the driver experience. On the other hand, there is limited space for installing such cameras, making it impossible to continue adding more indefinitely, which in turn has created a demand to do more with a single camera.

The ISX038 is the industry’s first*1 CMOS image sensor for automotive cameras that can simultaneously process and output RAW and YUV images. It uses a stacked structure consisting of a pixel chip and a logic chip with signal processing circuit, with the SSS’ proprietary ISP on the logic chip. This design allows a single camera to provide high-precision detection and recognition capabilities of the environment outside the vehicle and visual information to assist the driver as infotainment applications. When compared with conventional methods such as a multi-camera system or a system that outputs RAW and YUV images using an external ISP, the new product helps simplify automotive camera systems, saving space, costs, and power. 

ISX038 will offer compatibility with the EyeQ™6 System-on-a-Chip (SoC) currently offered by Mobileye, for use in ADAS and AD technology.

Main Features

Industry’s first*1 sensor capable of processing and outputting RAW and YUV images simultaneously
The new sensor is equipped with dedicated ISPs for RAW and YUV images and is capable of outputting two types of images simultaneously with image quality optimized for each application on two independent interfaces. Expanding the applications a single camera can offer helps build systems that save space, costs, and power compared to multi-camera systems or systems with an external ISP.

Wide dynamic range even during simultaneous use of HDR and LED flicker mitigation
In automobile driving, objects must be precisely detected and recognized even in road environments with significant differences in brightness, such as tunnel entrances and exits. Automotive cameras are also required to suppress LED flicker, even while in HDR mode, to deal with the increasing prevalence of LED signals and other traffic devices. The proprietary pixel structure and unique exposure method of this product improves saturation illuminance, yielding a wide dynamic range of 106 dB even when simultaneously employing HDR and LED flicker mitigation (when using dynamic range priority mode, the range is even wider, at 130 dB). This design also helps reduce motion artifacts*7 generated when capturing moving subjects.

*7   Noise generated when capturing moving subjects with HDR.

Compatibility with conventional products*8
This product shares the same compatibility with SSS’ conventional products,*8 which have already built a proven track record for ADAS and AD applications with multiple automobile manufacturers. The new product makes it possible to reuse data assets collected on previous products such as driving data from automotive cameras. This helps streamline ADAS and AD development for automobile manufacturers and partners.

*8 SSS’ IMX728 1/1.7 type 8.39 effective megapixel CMOS image sensor.

Compliant with standards required for automotive applications
The product is qualified for AEC-Q100 Grade 2 automotive electronic component reliability tests by mass production. Also, SSS has introduced a development process compliant with the ISO 26262 road vehicle functional safety standard, at automotive safety integrity level ASIL-B(D). This contributes to improve automotive camera system reliability.

Key Specifications

Model name

ISX038

Effective pixels

3,857×2,177(H×V), approx. 8.39 megapixels

Image size

Diagonal 9.30mm (1/1.72-type)

Unit cell size

2.1μm×2.1μm (H×V)

Frame rate (all pixels)

30fps (RAW&YUV dual output)

Sensitivity (standard value F5.6, 1/30 second
cumulative)

880mV (Green Pixel)

Dynamic range (EMVA 1288 standard)

106 dB (with LED flicker mitigation)

130 dB (dynamic range priority)

Interface

MIPI CSI-2 serial output (Single port with 4-
lanes / Dual port with 2-lanes per port)

Package

192pin BGA

Package size

11.85mm×8.60mm (H×V)

 

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SOURCE Sony Semiconductor Solutions Corporation

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transcosmos wins two awards at The Best Contact Center Indonesia 2024

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Wins Platinum for Contact Center Operations category and Silver in Employee Engagement category

TOKYO, Oct. 3, 2024 /PRNewswire-PRWeb/ — transcosmos is proud to announce that on September 17, 2024, the company won two prestigious awards at The Best Contact Center Indonesia 2024 (TBCCI), organized by the Indonesia Contact Center Association (ICCA). transcosmos won the platinum award for the Contact Center Operations category and the silver award in the Employee Engagement category. At its annual event, TBCCI, ICCA recognizes companies for their dedication to delivering exceptional customer service and innovation in the contact center industry.

Ardi Sudarto, Vice President Director of transcosmos Indonesia, said, “Both awards reflect our dedication to always delivering the best, both for our employees and clients. We hope this achievement serves as motivation for the entire team to continue innovating and improving service quality.”

TBCCI is an annual competition designed to recognize companies and individuals who demonstrate excellence in customer service. This year, 68 companies participated in the competition, including state-owned enterprises and ministries, with a total of 1,114 participants.

In the Contact Center Operations category, transcosmos presented a case study on the implementation of AI and automation solutions. With the solution, transcosmos has successfully reduced traffic to agents by up to 41.5%, thereby improving supervisor’s efficiency by 22.6%, and lowering operational costs by 30%. It also positively impacted the customer experience, decreasing detractor scores in the speed of service category of NPS by more than 5%.

In the Employee Engagement category, transcosmos showcased its strategic approach to fostering a company culture focused on employee development. Its unique training programs as well as initiatives to enhance employee engagement and internal communication were key elements recognized by the judges. Through these initiatives, transcosmos has successfully created a work environment that supports employee well-being and productivity.

Andi Anugrah, Chairman of the Indonesia Contact Center Association, said, “transcosmos was awarded platinum in the Contact Center Operations category because the company successfully combined operational excellence with the implementation of cutting-edge, relevant technology that has significantly impacted operations processes. In the Employee Engagement category, transcosmos demonstrated that the company is capable of creating a work environment that actively engages employees and ensures that employees feel valued in achieving the company’s goals.”

Ardi Sudarto, Vice President Director of transcosmos Indonesia, said, “These two awards reinforce transcosmos’s commitment to two key pillars, people & technology. transcosmos’s focus on sustainable employee development and continuous efforts to improve service quality through technological advancement have been the key factors in securing these awards. Both awards reflect our dedication to always delivering the best, both for our employees and clients. We hope this achievement serves as motivation for the entire team to continue innovating and improving service quality.”

transcosmos entered the Indonesian market in 2013. Since then, the company has been operating within the realms of digital business services and customer experience. With over 4,300 employees spread across three locations in IndonesiaJakarta, Semarang, and Yogyakarta. transcosmos has garnered trust from a diverse clientele spanning multiple industries such as e-commerce, retail, telecommunications, banking, and insurance. transcosmos offers a wide range of services including contact center support, digital marketing, e-commerce assistance, data entry, IT support, and more, making it a reliable partner for businesses seeking comprehensive solutions.

transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 182 bases across 35 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients’ excellent products and services to consumers in 46 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment.Visit us here https://www.trans-cosmos.co.jp/english/

Media Contact

transcosmos inc., transcosmos inc., +81-3-6709-2251, pressroom@trans-cosmos.co.jp, https://www.trans-cosmos.co.jp/english/

View original content to download multimedia:https://www.prweb.com/releases/transcosmos-wins-two-awards-at-the-best-contact-center-indonesia-2024-302266582.html

SOURCE transcosmos inc.

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Government of Canada Passes Legislation to Seize the Enormous Economic Opportunity Offshore Wind Presents for Nova Scotia and Newfoundland and Labrador

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OTTAWA, ON, Oct. 3, 2024 /CNW/ – The offshore renewable energy sector presents a generational economic opportunity for Canada, with the global offshore wind market alone forecast to attract one trillion dollars in investment by 2040. Canada, in partnership with Nova Scotia and Newfoundland and Labrador, is working to seize this unprecedented economic opportunity and create jobs for Atlantic Canadians.

Today, Bill C-49: An Act to amend the CanadaNewfoundland and Labrador Atlantic Accord Implementation Act and the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, received Royal Assent. Developed in partnership with the Government of Nova Scotia and the Government of Newfoundland and Labrador, this legislation will help unlock the enormous potential of offshore renewable energy, to generate thousands of jobs while attracting billions in investment and creating new economic opportunities in Nova Scotia and Newfoundland and Labrador.

By harnessing the world-class wind resources in the Atlantic offshore, we are positioning Canada as the leading supplier of clean energy, including the clean hydrogen countries like Germany are looking to buy, while continuing to decarbonize our electricity grids here at home. This legislation advances the priorities identified through the Regional Energy and Resource Tables in Nova Scotia and Newfoundland and Labrador, including seizing the opportunity clean energy presents.

The Government of Canada is working with the Governments of Nova Scotia and Newfoundland and Labrador to develop offshore renewable energy resources, enabling the provinces to capitalize on their existing strengths and accelerate offshore wind development safely and responsibly. Nova Scotia has already adopted mirror legislation, with Newfoundland and Labrador expected to do the same in the coming weeks.

Canadian workers and businesses are well positioned to seize the enormous economic opportunity clean energy presents, in Atlantic Canada and beyond. Today’s legislation underscores Canada’s commitment to deliver prosperity, create new clean energy opportunities, strengthen the economy, create thousands of jobs and better protect Canada’s environment.

Quotes

“Bill C-49 enables Atlantic Canada to seize the generational economic opportunity presented by offshore renewable energy. It will strengthen the economy, enable the creation of thousands of jobs and attract billions in investments in Nova Scotia and Newfoundland and Labrador. These opportunities would not have been possible without the close collaboration of the Premiers of Newfoundland and Labrador and Nova Scotia, Andrew Furey and Tim Houston, and Atlantic Canada’s Members of Parliament, who fought and delivered for the people of Nova Scotia and Newfoundland and Labrador.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“Bill C-49 is important to Nova Scotia meeting its offshore wind targets. Investors are lining up to harness our wind power and produce clean energy for green hydrogen and other uses. Now that this bill has passed, along with our own provincial mirror legislation, we are well on our way to developing our offshore wind industry hand in hand with our federal partners, starting with issuing our first call for bids next year.”

The Honourable Tory Rushton
Minister of Natural Resources and Renewables, Government of Nova Scotia

“Bill C-49 ensures the necessary measures are in place to support offshore renewable energy opportunities; allows for a fiscal regime that provides the maximum economic returns to Newfoundland and Labrador; and furthers joint management of the offshore area while building upon the extensive expertise the C-NLOPB has in managing offshore projects.”

The Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology, Government of Newfoundland and Labrador

“I was honoured to sponsor a bill of such significant economic and environmental importance to my province. I look forward to seeing the positive impacts of Bill C-49, as this historic bill presents a generational opportunity for Newfoundland and Labrador, Nova Scotia and Canada as a whole.”

The Honourable Iris G. Petten, Senator for Newfoundland and Labrador,
Senate of Canada

Quick Facts

This legislation establishes a joint management regulatory framework for offshore renewable energy development

Bill-49 includes amendments to the Accord Acts that:establish the framework to develop offshore renewable energy;change the Canada-Nova Scotia Offshore Petroleum Board’s name to the Canada-Nova Scotia Offshore Energy Regulator (CNSOER);change the CanadaNewfoundland and Labrador Offshore Petroleum Board’s name to the CanadaNewfoundland and Labrador Offshore Energy Regulator (C-NLOER);expand the mandates of the CNSOER and the C-NLOER to include the regulation of offshore renewable energy projects;improve alignment between the Accord Acts and the Impact Assessment Act (IAA);provide tools to support the Government of Canada’s marine conservation agenda; andmodernize the land tenure regime for offshore petroleum development.

Related Information

Building Offshore Renewables in Newfoundland and Labrador and Nova ScotiaGovernments of Canada and Newfoundland and Labrador launch regional assessment to support future decisions on offshore wind projects in the provinceGovernments of Canada and Nova Scotia launch regional assessment to support future decisions on offshore wind projects in the provinceThe Offshore Renewable Energy Regulations InitiativeCanada Offshore Renewable Energy Regulations

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SOURCE Natural Resources Canada

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