July 13, 2024
Secure Logistics Market

Secure Logistics Market is estimated to Witness High Growth Owing To Increasing Adoption of Advanced Technologies

The Secure Logistics Market is estimated to be valued at US$ 89.94 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: –

Secure logistics include transportation, storage and warehousing of valuable and sensitive goods in a secure manner. This involves proper handling, storage and tracking of goods and assets throughout their journey. Secure logistics protects goods from damage, theft or exploitation through advanced security measures such as alarms, monitoring systems and armed escorts. With growing concerns about cargo thefts, counterfeiting and cybercrimes, the need for secure logistics is increasing in industries such as healthcare, jewelry, money and defense.

Market key trends: –

One of the major trends fueling the growth of secure logistics market is the increasing adoption of advanced technologies like IoT, blockchain and AI. These technologies enhance security, tracking and monitoring of valuable goods in transit and storage. IoT sensors provide real-time location and condition monitoring of goods while blockchain securely records transactions throughout the supply chain. AI aids in threat detection, predictive analytics and automated decision making. Furthermore, growing e-commerce industry has increased the demand for secure delivery of online orders, thereby driving the market growth of secure logistics over the forecast period.

Porter’s Analysis: –

  • Threat of new entrants: – The secure logistics market requires heavy capital investment and established network. Therefore threat of new entrants is moderate.
  • Bargaining power of buyers: – The bargaining power of buyers is moderate as there are multiple established players offering secure logistic services.
  • Bargaining power of suppliers: – The bargaining power of suppliers is low as there are multiple resource providers for security equipment and services.
  • Threat of new substitutes: – There is low to moderate threat of substitutes as secure logistics offers more than just transportation and delivery of goods.
  • Competitive rivalry: – Intense competition exists among existing players.

SWOT Analysis: –

  • Strengths: – Established network, expertise in risk assessment and management, technologically advanced security solutions.
  • Weaknesses: – High operating costs, vulnerability to economic fluctuations, and dependency on skilled workforce.
  • Opportunities: – Growth in e-commerce and online retail sector, rising demand from industrial and manufacturing sectors.
  • Threats: – Changing regulatory policies, threat of data breaches and cybercrimes.

Key Takeaways: –

The Global Secure Logistics Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing e-commerce sales and growing adoption of advanced security solutions by end-use industries. The market size for 2023 is estimated at US$ 89.94 Bn.

Regional analysis: – North America dominates the global secure logistics market currently owing to stringent security regulations and early adoption of advanced technologies across industries. Asia Pacific is projected to witness fastest growth during the forecast period supported by robust economic growth, rising disposable incomes and expanding retail & manufacturing sectors in emerging countries.

Key players operating in the secure logistics market are Garda World, Brinks, Securitas, G4s, and Loomis. Garda World offers comprehensive security and risk management solutions including physical security, consulting, and crisis management. G4s provides technology-enabled security solutions across 90 countries.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it