The ATM Market size was valued at USD 23.52 Billion in 2023 and is expected to reach USD 32.96 Billion by 2031 and its growing with a CAGR of 4.31% over the forecast period 2024-2031.
Automated Teller Machine (ATM) is an electronic banking outlet that allows consumers to execute simple transactions. the technological advancements, customers are increasingly Looking for secure, faster, more convenient, and reliable ways to access cash, that drives the widespread adoption of ATM Market. The technological improvements in ATM machinery are Projected to drive the demand for automated teller machines, enabling consumers to perform various banking work securely. enhanced security measures such as biometric and one-time password authentication systems are being implemented to prevent fraud, while the introduction of Smart ATMs designed for users with special needs is also contributing to the growth of the ATM market. By Using ATM Anyone can Withdraw Cash and Transfer Fund Easily And its having 24x7 Service.
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DRIVERS
The demand for automation in the banking sector is increasing in both emerging and developed countries the drives ATM Market.
In many Countries the Cash is the favored mode of payment Thet Drives market.
Cash access is quicker, more dependable, and easy.
With technological advancements, customers are increasingly seeking secure, faster, more convenient, and reliable ways to access cash. This has led to a growing preference for the widespread adoption of ATMs on a global scale. The Automation allow banks to streamline their operations and decrease the need for Human intervention in Daily Tasks. ATMs provide a cost-effective way to offer basic banking services, such as cash withdrawals, deposits, and balance inquiries, without going to bank branch and not need of any additional staff. ATMs provide customers with 24x7 access to basic services of banking, beyond regular banking hours. This accessibility is a major factor driving the demand for ATMs.
RESTRAINTS:
The cost of Managing, handling, and transportation for ATM equipment is becoming more expensive.
The increasing ATM security expenditures is factor that Restrain market.
OPPORTUNITY:
The rapidly growing integration of new technologies such as contactless payments, QR codes, and touch screens creates opportunity for the automated teller machine market.
The digital convergence, integration of IoT data analysis, and biometrics and cybersecurity, creates Opportunity for market.
CHALLENGES:
Continuously Increasing Digitalization, and Digital Banking progress is major challenge For ATM market.
Internet banking channels make transactions simple, quick, and safe, restricting the expansion of the industry.
The lack of standard related to security are major Challenge for automated teller machine market growth.
The crisis between Russia and Ukraine is causing significant disruptions in the global supply chain and manufacturing processes, particularly in the ATM production. Both countries play Important roles in not only the providing raw materials but also in manufacturing of essential components such as semiconductor chips, display units, and security systems used in ATMs. As a result of sanctions on Russia and logistical challenges in Ukraine, ATM manufacturers are grappling with delays and heightened costs. This has led to diminished production capacities, prolonging delivery times for new ATMs and upgrades, thereby impacting deployment schedules.
The repercussions of this crisis are reverberating across the global economic landscape, contributing to increased market volatility and heightened uncertainty. Financial institutions, major consumers of ATMs, are adopting a more cautious stance in their investment and expansion plans. This cautious approach is directly influencing the demand for new ATMs. the currency fluctuations and economic sanctions are triggering changes in consumer behavior, potentially altering cash withdrawal patterns and, consequently, affecting ATM usage.
The crisis may accelerate the shift towards digital payments, Reduce reliance on physical cash and ATMs. the Russia-Ukraine crisis is introducing intricate layers of complexity into the ATM market, shaping both supply and demand dynamics in ways that are poised to have enduring effects.
The ongoing economic slowdown, impacting both its supply and demand dynamics. in the demand side, economic uncertainties tend to reshape consumer behavior. During such periods, there might be a growing inclination towards cash as a secure and easily accessible payment method, potentially leading to increased ATM withdrawals in specific regions, demographics. The prevailing trend favoring digitalization and cashless transactions, growing by the pandemic, could counteract this effect. Consumers and businesses continue to embrace digital payment methods for their convenience and safety. From the supply side, financial institutions, the primary deployers of ATMs, may reevaluate their capital expenditure given and tighter budgets and uncertain economic Situations. This reevaluation could translate into reduced investments in new ATM installations and upgrades, particularly in advanced economies where digital banking and payment methods are already widespread. The economic slowdown might prompt banks to optimize operational costs, potentially resulting in a streamlining of their ATM networks in favor of more cost-effective digital channels.
The impact of the economic slowdown can vary across the different markets. In Growing economies, where cash remains a dominant form of payment and banking infrastructure is still evolving, ATMs might continue to experience growth or face less severe contractions. The innovations in ATM functionalities, such as multi-currency dispensing, biometric authentication, and integration with mobile banking services, could serve as mitigating factors by enhancing the utility and convenience of ATMs for consumers.
By Solution
Deployment
Onsite ATM
Offsite ATM
Worksite ATM
Mobile ATM
Managed Service
On the Basis Of solution Market Is Subsegment into deployment and managed services. ATM Deployment solutions hold the highest market share, accounting More than 51% in 2022. ATM deployment involves the installation, setup, testing, operation, and implementation of ATMs. Under the Deployment, there are different types of ATMs Subsegment, including onsite, offsite, worksite, and mobile ATMs. In that offside ATM segment Dominates the Market.
Onsite ATMs are typically located within or near a physical bank branch, allowing customers to easily access both the branch and the ATM. These ATMs help alleviate the workload of bank employees, reduce long queues for transactions, and minimize errors in withdrawals and deposits. The demand for onsite ATMs is expected to rise in the coming years, leading to smoother financial transactions for banks.
The Managed services enable financial institutions to outsource their non-core activities to specialized and trained service providers, allowing them to focus on their core financial businesses. Industry leaders like NCR Corporation and Diebold Nixdorf offer managed services at competitive rates, providing a valuable resource for strengthening the infrastructure of financial institutions. These services play a important role in enhancing multichannel delivery, improving customer retention, acquisition, and cross-selling opportunities. With the Using managed services, financial institutions can streamline their operations and overall efficiency.
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By Type
Conventional/Bank ATMs
Brown ATMs
White ATMs
Cash Dispenser ATM
Smart ATMs
North America Region dominates the Global ATM market, with the contributing largest revenue share of 30.5% in 2022. This growth can be attributed to various factors, such as the increasing demand for cash, the growing e-commerce, the increase in mobile banking usage, and the modernization of existing ATMs. As these trends Growing, North America is expected to continue its growth in the Future.
The Asia Pacific region, the automated teller machine market is expected to be growing with the fastest compound annual growth rate (CAGR) of 4.98% in the period of forecast. This growth is driven by the widespread deployment of ATMs, particularly in developing countries such as China and India. The lack of awareness about digital payment solutions in many economies in the region further underscores the importance of ATMs for facilitating cash-based and other financial transactions. There are 3 million ATMs installed globally, the Asia Pacific region boasts the highest number in these installations.
Europe presents significant growth potential in the market, thanks to major technological advancements in the banking sector. the Middle East and Africa region offer promising growth opportunities, driven by the increasing demand for interactive machines and managed services in the financial industry. the cash-based economy in the MEA region, with strong consumer demand and government support for electronic banking, is expected to boost the growth of the region.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Diebold Nixdorf, Inc, 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 & Other Players
In June 2023, NCR Corporation, a leading provider of corporate technology, announced a strategic partnership with Members ATM Alliance (MAA) to introduce ATM as a Service (ATMaaS) to credit unions. MAA, a Credit Union Service Organization (CUSO), specializes in providing support to credit unions for the management and processing of ATMs. By integrating NCR ATM as a Service into their operations, MAA will streamline their managed services portfolio, covering operations, deployment, transaction processing, cash management, and software management.
In February 2023, NCR Corporation renewed and expanded its longstanding partnership with Walgreens, a prominent global drugstore operator. Under the new agreement, NCR will continue to provide ATM services in nearly all Walgreens locations across the U.S., Puerto Rico, and the District of Columbia.
In January 2023, Hitachi Terminal Solutions India announced the expansion of its manufacturing capacity for cash recycling machines (CRMs) in Bengaluru. This expansion will enable Hitachi to triple its current production capacity of 1,000 CRMs. CRMs function similarly to ATMs but also allow users to deposit cash, making them a convenient option for individuals without bank accounts.
In November 2022, Diebold Nixdorf, a renowned ATM manufacturer, bolstered its presence in India by inaugurating a new manufacturing plant in Bengaluru. The facility will focus on producing the company's DN Series cash dispensing and cash recycling machines, further solidifying Diebold Nixdorf's commitment to the Indian market.
| Report Attributes | Details |
| Market Size in 2023 | US$ 23.52 Bn |
| Market Size by 2031 | US$ 32.96 Bn |
| CAGR | CAGR of 4.31% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2022-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Solution (Deployment, Managed Service) • By Type (Conventional/Bank ATMs, Brown ATMs, White ATMs, Cash Dispenser ATM, Smart ATMs) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, 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) |
| Company Profiles | 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 |
| Key Drivers | • 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. |
| Market Challenges | • Digitalization progress in developing countries • Internet banking channels make transactions simple, quick, and safe, restricting the expansion of the industry. |
Ans. The projected market size for the ATM Market is USD 32.96 Billion by 2031.
Ans:- Digitalization progress in developing countries and Internet banking channels make transactions simple, quick, and safe, restricting the expansion of the industry.
Ans:- 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.
Ans:- Emerging nations such as China and India, is credited with driving the regional market forward.
Ans:- The primary growth tactics of ATM Market participants include merger and acquisition, business expansion, and product launch.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.4 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine War
5.2 Impact of Economic Slowdown
5.2.1 Introduction
5.2.2 Impact on major economies
5.2.2.1 US
5.2.2.2 Canada
5.2.2.3 Germany
5.2.2.4 France
5.2.2.5 United Kingdom
5.2.2.6 China
5.2.2.7 Japan
5.2.2.8 South Korea
5.2.2.9 India
6. Value Chain Analysis
7. Porter’s 5 forces model
8. PEST Analysis
9. ATM Market Segmentation, By Solution
9.1 Deployment
9.1.1 Onsite ATM
9.1.2 Offsite ATM
9.1.3 Worksite ATM
9.1.4 Mobile ATM
9.2 Managed Service
10. ATM Market Segmentation, By Type
10.1 Conventional/Bank ATMs
10.2 Brown ATMs
10.3 White ATMs
10.4 Cash Dispenser ATM
10.5 Smart ATMs
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Poland
11.3.1.2 Romania
11.3.1.3 Hungary
11.3.1.4 Turkey
11.3.1.5 Rest of Eastern Europe
11.3.2 Western Europe
11.3.2.1 Germany
11.3.2.2 France
11.3.2.3 UK
11.3.2.4 Italy
11.3.2.5 Spain
11.3.2.6 Netherlands
11.3.2.7 Switzerland
11.3.2.8 Austria
11.3.2.9 Rest of Western Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Vietnam
11.4.6 Singapore
11.4.7 Australia
11.4.8 Rest of Asia Pacific
11.5 The Middle East & Africa
11.5.1 Middle East
11.5.1.1 UAE
11.5.1.2 Egypt
11.5.1.3 Saudi Arabia
11.5.1.4 Qatar
11.5.1.5 Rest of the Middle East
11.5.2 Africa
11.5.2.1 Nigeria
11.5.2.2 South Africa
11.5.2.3 Rest of Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Colombia
11.6.4 Rest of Latin America
12 Company Profile
12.1 Diebold Nixdorf, Inc.
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Euronet Worldwide, Inc.
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Fujitsu Ltd.
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 GRG Banking Equipment Co. Ltd.
12.4 Company Overview
12.4.2 Financials
12.4.3 Product/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 HESS Cash Systems GmbH
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Hitachi-Omron Terminal Solutions, Corp.
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 NCR Corporation
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Source Technologies
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Triton Systems of Delaware, LLC.
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 OKI Electric Industry Co., Ltd.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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