Recent reports predict that the cash logistics market will grow to $22.29 billion in 2024 at a compound annual growth rate of 8.6 percent. This growth can be attributed to many factors, including an increase of currency in circulation and a booming ATM market. And, because of these two factors, both retail and financial institutions are quickly discovering a need to outsource cash management, which also may contribute to the projected growth.

Behind this growth is an industry that requires agility, action, and adoption. Armored car carriers must continue to adapt to better serve customers, which ultimately improves the cash supply chain. As armored car carriers expand services and adopt industry best practices and initiatives, they are helping promote and protect cash, thereby strengthening the cash logistics market as well as the cash supply chain.

How Cash-In-Transit Ensures a Resilient Cash Cycle, a late 2023 article, echoes this thought by stating armored car carriers are essential to a healthy cash supply chain. “Through their services for retailers and financial institutions, cash-in-transit companies make a decisive contribution to a resilient cash cycle…If they offer their customers attractive and cost-effective cash management solutions, cash payments will continue to be accepted and remain a widespread payment method – in normal times as well as in crisis times.”

Rochester Armored Car has certainly seen evidence of the industry’s growth in its own growth. As the company celebrates its 60th anniversary this year, it remains focused on a business model and a mission that has fueled and directed its growth for the last several decades. Rochester continues to be a leader in supporting industry best practices, initiatives, and legislation that promote and protect cash and a healthy cash supply chain.