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Two key metrics should show encouraging signs for the Brink’s Company over the next decade. According to two separate reports, the cash logistics market and the global crewed guarding services business should continue to rise for the foreseeable future, two services where Brink’s has excelled for decades.
The cash logistics market is estimated to grow at a compound annual growth rate of 10.16 percent between 2022 and 2027, an increase of $20.26 billion, according to research and markets data provider TechNavio. The increasing number of ATMs worldwide and the volume of cash processed by those ATMs will fuel that additional logistical need.
Markets like APAC are expected to continue to expand (as much as 35 percent by 2027) as they both contain large segments of the world’s population and are also often dependent on cash-based transactions.
At the same time, Research & Markets reports that global crewed guarding services are estimated to top $283.90 billion by 2030. The noticeable surge in projected growth can be linked to banks and financial institutions investing more heavily in services, the increase of private security markets, and the rise in theft, burglary, and robberies.
For a company like Brink’s whose services include cash-in-transit, ATM replenishment, and maintenance, and other safety and security offerings, these are all positive signs. With over 70,000 employees, 1,300 branches, and 16,400 vehicles in more than 100 countries, the prospect of developing markets and increased service potential should boost year-over-year income.
That continued growth has lured talent like Vice President of Global Litigation and Commercial Law Maura Scott to Brink’s. Scott came to Brink’s in 2022 as global head of commercial law prior to being promoted to her present role in 2023.
Prior to Brink’s, Scott was chief compliance and regulatory officer at Cannadips CBD and a regional VP of sales at Altria. Scott is also a board member of the Richmond Symphony and is a former board member of the Richmond YWCA. In 2018, Scott was named as Top Women in Convenience “Woman of the Year.”
The organization has been moving into some nontraditional spaces, which may have been the result of the company gathering talent from other industries. In 2022, Brink’s announced that it participated in a $7 million round of funding for Courtyard, a startup that creates NFTs for physical collectibles.
Brink’s was responsible for the handling of the real-world asset security stored securely in its vault. Courtyard would sell the NFT of that asset in its marketplace.
“By securing the physical items represented by NFTs on the blockchain, we create a bridge between offline and digital marketplaces, giving collectors reassurance that their high-value items are secure,” said Oliver Buckle-Wright, senior commercial director at Brink’s said in a prepared statement.
The physical security of digital assets is a relatively new concept and one whose market share has yet to be established. But the possibility is compelling. And who better to partner with for security than a company that once helped transport the Hope Diamond?
Whether its proven cash and security services or more fledging digital collaborations, Brink’s seems poised for continued growth over the next ten years.
