ATM Market

The ATM market was size was valued at USD 22.21 billion in 2022, and is projected to reach USD 34.16 billion by 2031, with a CAGR of 4.9% from 2023 – 2031. The growth of the market is attributed to enhanced security standards, technological advancements, and integration of wireless communication devices such as smartphones.

An automated teller machine (ATM) is a banking system that allows customers to make easy transactions with their credit or debit cards. It manages money and performs a variety of functions, such as deposits, cash withdrawals, and fund transfers. These machines include features like balance inquiries and pin change.

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A card reader, printer, keypad, cash dispenser, and a display screen that shows the user their account balance are all included in an ATM. To perform the requested purpose, these machines scan the strip on the front and the magnetic strip on the back of the debit/credit card. ATMs are a more convenient and quicker self-service choice than traditional bank tellers, and they provide a seamless financial transaction experience.

It is dealing with an increase in security threats, shifting market demands, and regulatory requirements. With the introduction of these machines, banks are able to serve a wide range of customers, including those who do not bank with them.

These cards help to eliminate the hassles of bank transfers, bank hours, paper-based validations, and customer personal attendance, resulting in a better banking experience for both consumers and bankers.The deployment of smart and solar ATMs in emerging economies such as China, India, and Japan are expected to boost the market.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in use of solar-powered machine, low overall costs, and operating costs, is anticipated to boost the market.

• Online cash payments and other forms of cash transactions are expected to pose a challenge for the market growth.

Scope of the Report

The report on the global ATM market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

ATM Market Segment Insights:

The deployment segment is expected the hold a key share

Based on solutions, the global ATM market is divided into managed services, and deployments. The deployment segment is further segregated intoonsite ATMs, work site ATMs, offsite ATMs, and mobile ATMs. The deployment segment accounts for a key share of the market; however, the onsite machine segment is anticipated to expand at a rapid pace during the forecast period.

On-site machines are located on the bank's premises and can be used in conjunction with a physical bank branch. These devices relieve bank employees' workload by eliminating long lines for transactions, withdrawals, and cash deposits on bank premises. It minimizes the risk of mistakes, allowing banks to conduct smooth financial transactions.

The industry will see many growth opportunities as banking technology evolves and onsite solutions are increasingly installed to improve customer loyalty.Managed services enable financial institutions to delegate non-core tasks to a trained and specialized service provider, allowing them to focus on their core financial operations. Several industry players, such as NCR, Wincor, and Diebold provide low-cost managed services.

Managed services help to expand the framework for multichannel distribution, resulting in improved customer retention, acquisition, and cross-selling opportunities. Outsourcing regulated services has several advantages, including low maintenance and infrastructure costs, high operational revenues, compliance with new regulatory rules, and streamlined network operations and services.

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Asia Pacific is expected to hold major market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to rise significantly during the forecast period. Over a million ATMs are expected to be deployed globally, in Asia Pacific.

The industry demand in this area is expected to be driven by the need to serve large unbanked populations in countries like India, China, Indonesia, and Vietnam. In addition, countries like Brazil, Nigeria, Russia, and Iran are expected to have high demand for new machines.Due to the cash-based economy, strong consumer demand, and government support for electronic banking, the Middle East and Africa are expected to experience tremendous growth.

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Segments

The global ATM market has been segmented on the basis of

Solutions

• Managed services
• Deployment

• Onsite ATMs
• Work site ATMs
• Offsite ATMs
• Mobile ATMs

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Diebold Inc.
• NCR Corporation
• Wincor Nixdorf
• Nautilus Hyosung
• Euronet Worldwide
• Fujitsu
• Trinton Systems of Delaware LLC
• HESS Terminal Solutions GmbH & Co.
• Hitachi-Omron Terminal Solutions Corporation
• GRG Banking

Competitive Landscape

Some of the key players operating in the market are Diebold Inc.; NCR Corporation; Wincor Nixdorf; Nautilus Hyosung; Euronet Worldwide; Fujitsu; Trinton Systems of Delaware LLC; HESS Terminal Solutions GmbH & Co.; Hitachi-Omron Terminal Solutions Corporation; and GRG Banking.

Consumerization of IT in the workplace and use of multi-functional devices for work purposes is projected to drive the market. To meet changing customer tastes and demands, suppliers and manufacturers are focusing more on creating multi-functional products. Companies have been concentrating on offering additional benefits such as better customer support, more shelf space, cost savings, and increased operating efficiencies.