ATM Market Size, Share & Segmentation by Solution (Deployment [Onsite ATM, Offsite ATM, Worksite ATM, Mobile ATM] and Managed Service), by Type (Conventional/Bank ATMs, Brown ATMs, White ATMs, Cash Dispenser ATM, Smart ATMs), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

ATM Market size was valued at USD 21.42 Bn in 2022 and is expected to reach at USD 32.40 Bn by 2030, and grow at a CAGR of 5.31% over the forecast period 2023-2030.

In the absence of a teller or a branch employee, an Automated Teller Machine (ATM) is an electronic banking outlet that allows consumers to execute simple transactions. Most ATMs are easily accessible to those who have credit or debit cards. Banks and credit unions own ATMs in various circumstances. Individuals and corporations can, however, purchase or lease ATMs directly or through an ATM franchise. The financial model for ATMs owned by individuals or small companies such as restaurants or petrol stations is based on charging fees to ATM users. Customers may use ATMs to get banking services at any time. Increased installation base and maintenance operations have had a significant influence on income generation. It is vital to have an effective cash management solution in order to accomplish ATM depositing and cash distribution. Cash recycling is a cost-effective cash management system that provides banks with benefits including counterfeit identification, full and absolute accuracy, and improved customer service.

Customers in many nations select cash as their preferred method of payment due to its ease. Customers are looking for quicker, more reliable, secure, and convenient ways to access cash as technology advances, which is a major element driving the worldwide ATM industry forward. Furthermore, the market's expansion is fueled by rising demand for ATMs, rising costs of operating, handling, and transporting ATM equipment, and rising ATM security costs.

MARKET DYNAMICS:

KEY DRIVERS:

• Cash is the favored mode of payment in many nations due to its ease.

• Cash access is quicker, more dependable, secure, and easy.

• In both emerging and developed countries, the demand for automation in the banking sector is growing.

RESTRAINTS:

• Managing, handling, and transporting ATM equipment is becoming more expensive.

• ATM security expenditures are increasing.

OPPORTUNITY:

• Integration of IoT data analysis, digital convergence, biometrics, and cyber security are all examples of key technological achievements.

• Biometrics, fingerprints, and other security mechanisms have improved.

CHALLENGES:

• Digitalization progress in developing countries

• Internet banking channels make transactions simple, quick, and safe, restricting the expansion of the industry.

IMPACT OF COVID-19:

Automated Teller Machine (ATM) firms are expected to create excellent crisis-management methods, with a focus on next-generation goods and solutions, to emerge positively from the COVID-19 problem. R&D funds for Automated Teller Machines (ATMs) are being cut modestly. Market trends for Automated Teller Machines (ATMs) are constantly monitored. Investment/divestment strategies that are systematic Launching marketing initiatives with care, Long-term contracts are being strengthened.

Manufacturing and other heavy sectors have faced operational issues in the global semiconductors, electronics, information, communication, and technology business during the last two years. Datacenter services, cloud computing, and other online support industries, on the other hand, benefited greatly from market changes.

In the Automated Teller Machine (ATM) business, both recovery scenarios predict a year-over-year revenue increase in 2021. Most end-user markets are still recovering, owing to weaker demand in 2020 than in prior years. Through regular monitoring of industry movements and geopolitical reactions, Automated Teller Machine (ATM) organizations will have to establish long-term plans, examine prospective scenarios, and re-orient both strategy and operations to developing market trends beyond 2021.

MARKET ESTIMATION:

The automated teller machine (ATM) market is divided into deployment and managed service segments based on the solution. ATM deployment solutions will lead the market in 2021, accounting for more than half of the whole market. Installing, setting up, testing, operating, and implementing an ATM are all part of the deployment process. Onsite, offsite, workplace and mobile ATMs are several types of ATMs.

On-site ATMs are positioned within or near the bank and can be used in conjunction with the physical branch. By avoiding long lineups for withdrawals, cash deposits, and transfers on bank premises, these ATMs save the strain of bank employees. These ATMs also lower the likelihood of mistakes during withdrawals and deposits, allowing banks to do business smoothly.

From 2022 to 2028, the mobile ATM category is expected to increase significantly. A mobile ATM is a moveable ATM system that is deliberately positioned in high-traffic areas such as trade shows, social gatherings, and sporting events to alleviate traffic. Mobile ATMs give banks more flexibility while also improving their branding and advertising.

Financial institutions can outsource non-core functions to a specialized and skilled service provider, allowing them to focus on their main financial businesses. Several industry participants, including NCR Corporation and Diebold Nixdorf, provide low-cost managed services. Managed services help financial institutions enhance their infrastructure for multichannel delivery and improve client retention, acquisition, and cross-selling opportunities. Reduced operational and infrastructure investment costs, higher operational profitability, compliance with new regulatory laws, and simpler network operations and services are all advantages of outsourcing managed services to a service provider.

KEY MARKET SEGMENTS:

On The Basis of Solution:

• Deployment

• Onsite ATM

• Offsite ATM

• Worksite ATM

• Mobile ATM

• Managed Service

On The Basis of Type:

• Conventional/Bank ATMs

• Brown ATMs

• White ATMs

• Cash Dispenser ATM

• Smart ATMs

REGIONAL ANALYSIS:

During the projected period, the Asia Pacific regional automated teller machine market is predicted to develop at a positive CAGR. The increasing deployment of ATMs, particularly in emerging nations such as China and India, is credited with driving the regional market forward. In most economies in the area, there is a lack of understanding regarding digital payment options, which reinforces the significance of ATMs for cash-based and other financial activities. The Asia Pacific region has the most ATMs, with over three million deployed worldwide. Furthermore, the necessity to serve the region's vast unbanked population is likely to stimulate demand for ATMs in nations like China, India, and Japan, as well as in rising markets like Vietnam and Indonesia.

Due to significant technical improvements in the banking business, the market in Europe has high growth potential. The Middle East and Africa market is expected to develop at a healthy rate over the projected period, owing to increased demand for interactive machines and managed services in the financial sector. Furthermore, due to the cash-based economy, high consumer demand, and government backing for electronic banking, MEA is expected to develop rapidly.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Diebold Nixdorf, Incorporated, Euronet Worldwide, Inc., Fujitsu Ltd, GRG Banking Equipment Co. Ltd., HESS Cash Systems GmbH, Hitachi-Omron Terminal Solutions, Corp., NHAUSA, NCR Corporation, Source Technologies, Triton Systems of Delaware, LLC

Frequently Asked Questions (FAQ) :