(22 January 2020) According to the new research report published by The Insight Partners, titled “ATM Market – Global Analysis and Forecast to 2027”, the global ATM market is expected to reach US$ 44.18 Bn by 2027, registering a CAGR of 10.4% during the forecast period 2019-2027.
An ATM (Automated Teller Machine) simplifies the banking transaction processes for individuals removing the need for a teller or branch representative for guiding through banking processes. An ATM functions as an electronic banking outlet managing money and performing some of the major banking tasks such as cash withdrawal and deposit, and fund transfer to other accounts. The popularity of the ATMs in the developed, as well as developing countries of the world, has ensured consistent technological advancements and additional feature-based integrations on the machines. This has led to broadening horizons of services provided by various banks and private institutions through the installation of ATM. The 24/7 availability of the ATM, coupled with minimized hassles involved in the banking transactions with ATM, highlights the importance of these machines underlining their immense popularity worldwide.
Increasing demand for security standards, secure transactions, automated wireless devices, and others are significantly driving the global ATM market. With the increasing ATM channels, ATM solution providers are playing a pivotal role in the financial institution’s reinvention strategy. With the new technologies, the financial institution is incorporating advanced technology features, which result in enhanced security transactions, an increase in ATM adoption, and provide enhanced customer experiences. Compliances and regulatory bodies are playing a key role in the ATM industry.
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The entire value chain of ATM market can be broken down into different components. The ecosystem for ATM market comprises of Hardware solution providers, software solution providers, ATM integrators, and the ATM deployers. The hardware solution providers provide with the computing and machine equipment pertaining to the ATM. These ATMs are deployed as kiosks at various locations including shopping malls, buildings, restaurants, standalone buildings, and railway stations etc.
The ATM market is categorized based on deployment, type, and geography. The deployment segment is segmented on basis of Brown Label ATM, White Label ATM, and Bank Owned ATM. The Bank Owned ATM is further bifurcated into on-site and off-site. The type segment in ATM market is broken down as cash deposit, cash dispenser, smart ATM, and others. Geographically, the ATM market is classified based on North America, Europe, Asia Pacific, Middle East, and Africa, and South America.
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The ATM market ecosystem consists of well-established players as well as emerging companies. The major companies operating in the market include CMS Info Systems Limited, Diebold Nicdorf, Incorporated, Euronet Workdwide, Inc., Fujitsu Limited, GRG Banking Equipment Co. Ltd., Guangzhou KingTeller Technology Co., Ltd., HESS Cash Systems GmbH & Co, Hitachi-Omron Terminal Solutions, Corp., NCR Corporation, and Triton Systems among others. Several other manufacturers are also functioning in the industry, and are contributing substantial revenues year on year, thereby, driving the market growth.
The report segments the Global ATM market as follows:
Global ATM Market – By Deployment
- Brown Label ATM
- White Label ATM
- Bank Owned ATM
Global ATM Market – By Type
- Cash Deposit
- Cash Dispenser
- Smart ATM
Global ATM Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle EAST & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- North America
- Rest of SAM