ATM Market is Projected to Cross USD 25 Billion Milestone by 2024

Offsite ATMs accounted for the majority share in the ATM market in 2016 and is anticipated to grow at a CAGR of over 8% as they are conveniently located in shopping malls, multiplexes, entertainment centers and make cash withdrawal easy and convenient

Selbyville, United States – July 13, 2019 /MarketersMedia/ —

ATM Market is set to exceed USD 25 billion by 2024. Technical advancements, such as smart or next-generation ATMs, are driving the industry growth. These allow the users to initiate new transactions through their smart devices with mobile functionalities with nearby NFC-enabled ATM systems having biometric-enabled security systems or by inputting the security PINs. The systems are equipped with inbuilt cashless kiosks that are ideal for cashless transactions such as account services and appointment check-ins. For instance, NCR’s Selfserve 8 is equipped with a cash deposit facility, which is viable for all kinds of bill payments and features a touchscreen interface. The incorporation of such innovative features is driving the adoption of these systems, thereby positively impacting the ATM market.

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Moreover, the rise in competition among BFSI institutions to provide simple and convenient banking services for its customers on the doorstep drives the ATM market growth. Rural customers with low literacy encounter issues while using banking facilities, therefore smart machines can assist them for the banking applications. Additionally, the progression of class banking to mass banking will contribute significantly toward the growth of systems in the rural areas owing to the increasing user interest toward self-serving channels. Such factors are anticipated to also fuel the growth of the ATM market in emerging countries such as Thailand, Malaysia, and Indonesia.

In 2017, deployment solutions accounted for the majority of the industry share and consist of onsite, offsite, worksite, and mobile systems. Offsite systems are anticipated to witness a significant growth over the forecast time span owing to their ability to assist customers on time and due to the reduction in manual errors. Government initiatives to offer benefits on card usage will further augment the segment growth. Its capability to solve & sort out problems and queries in time with the help of bank officials is among the major driving factors. In addition, features, such as timely currency exchange and ease in cash withdrawal, are expected to increase the adoption over the coming years, thereby driving the ATM market growth.

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The Asia Pacific ATM market is growing at a significant rate with the growing adoption of the systems in Japan India, China, and numerous other emerging countries in the region. The need to serve vast unbanked populations across Asia Pacific countries will drive the industry demand. The improving infrastructure, adoption of newer technology, and a healthy economy will drive the ATM market in the region. Several regional government administrations are designing and implementing new regulations and rules that will help them in simplifying the present financial infrastructure. These policies are being put in place to ensure a rise in implementation and acceptance of the systems, thereby providing an impetus to the ATM indusry.

Players operating in the ATM market include Euronet, Diebold, Fujitsu, Hesscash Systems, GRG Banking, Hitachi-Omron Terminals Solutions, NCR Corporation, Nautilus Hyosung, Triton Systems, and Tidel Engineering. These companies provide devices to financial organizations, independent deployers, and retailers with finance-oriented self-service characteristics. The companies are making huge investments in the R&D to develop systems that will swiftly and efficiently process customer transactions. Furthermore, the rising implementation of solar-powered systems will reduce the operational costs thereby driving the ATM market.

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Table of Contents (TOC) of the report:

Chapter 3 ATM Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Estimated cost savings from ATM outsourcing
3.4 Technological landscape
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Growing demand for ATM automation in the U.S.
3.5.1.2 Technological innovation and replacement demand in Europe
3.5.1.3 High adoption of ATMs in the BRICS countries
3.5.1.4 Need for ATMs as a delivery channel in India
3.5.1.5 Growing adoption of ATMs in Latin America
3.5.1.6 Increasing government initiatives in the MEA region
3.5.2 Industry pitfalls and challenges
3.5.2.1 Developments in electronic transactions
3.5.2.2 Tightening of regulations
3.5.2.3 Increasing incidents of card and ATM fraud
3.6 Growth potential analysis
3.7 Porter’s analysis
3.8 Company market share analysis, 2016
3.8.1 Functionality landscape
3.9 PESTEL analysis
3.10 ATM deployment market share, by functionality
3.10.1 Volume split
3.10.2 Revenue split
3.11 U.S. bank quality ATM vs cash dispensers market share (%)
3.11.1 Volume split
3.12 U.S. national bank ATM market size, 2016 (Volume & Revenue)

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