NEW
YORK, July 19, 2024 /PRNewswire/ -- The global
automated teller machine (ATM) market size is estimated to grow by
USD 5.91 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 4.6% during the forecast period.
Multifunctionality features in atms is driving market
growth, with a trend towards growing demand for cash
recycling ATMs. However, high costs associated with atms
poses a challenge. Key market players include Atlas Ontario
LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace
Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd.,
Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., Lipi Data
Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd.,
Paycorp Investments Proprietary Ltd., Source Technologies, SPL
Computer Trading GmbH, The Brinks Co., and Triton Systems.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Automated Teller
Machine (ATM) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.6%
|
Market growth
2024-2028
|
USD 5910
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.18
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 58%
|
Key
countries
|
US, China, Germany,
India, and UK
|
Key companies
profiled
|
Atlas Ontario LP.,
Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace
Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd.,
Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., Lipi Data
Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd.,
Paycorp Investments Proprietary Ltd., Source Technologies, SPL
Computer Trading GmbH, The Brinks Co., and Triton
Systems
|
Market Driver
The demand for automatic cash recycling in ATMs, automated
teller safes, and self-service cash recycling machines is
increasing among financial institutions. Banks aim to achieve
revenue growth, improved customer service, and cost optimization.
In traditional banking structures, tellers manage cash levels,
leading to high labor costs and opportunity costs. Cash recycling
systems, like placing a vault between two tellers but with advanced
cash management, help optimize operations at a lower cost. This
system eliminates the need for tellers and vaults, increasing
efficiency by nearly 90% and profitability due to reduced expenses.
Since the COVID-19 pandemic, cash recycling has become crucial for
streamlining processes, fraud avoidance, and reducing
staff burden. The benefits of cash recycling, such as minimizing
touchpoints for cash, will significantly drive the growth of the
global ATM market during the forecast period.
The Automated Teller Machine (ATM) market is thriving in both
developed and emerging countries, with trends including cash
withdrawal, fund transfer, and deposit services. Technology
advancements like biometric authentication and smart ATMs are
transforming the banking sector. Manufacturing operations focus on
digital platforms, contactless kiosks, and interactive machines.
Security mechanisms and fraud prevention are crucial.
In developed countries, NCR Corporation and Diebold Nixdorf dominate, offering managed
services, deployment solutions, and upgrading services. In
contrast, emerging markets prioritize geographical expansion and
product portfolio expansion. Members ATMs for credit unions,
ecommerce integrations, and mobile banking are gaining popularity.
Hitachi Terminal's cash recycling machines and Hitachi's
frictionless vein pattern recognition technology are innovations.
Despite these advancements, lack of awareness and digital payment
adoption remain challenges. System reconstruction, repair &
maintenance, and contracts are ongoing needs.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- ATMs are a valuable tool for banks to automate cash
transactions and reduce the number of customers visiting branches.
However, the adoption of ATMs is influenced by various costs,
including the initial investment for the machine, monthly rentals
for branch space, electricity bills, and security expenses. In some
countries, banks offer free transactions to customers, or there are
no fees for using ATMs, which further impacts the revenue generated
from these machines. Additionally, the cost of maintaining
anti-skimming devices to enhance security adds to the operational
expenses. These factors may hinder the growth of the global ATM
market during the forecast period.
- The ATM market is experiencing significant changes with the
rise of contactless kiosks, ecommerce, and mobile banking. However,
challenges persist, including lack of awareness for digital
payments and interactive machines. Managed services and deployment
solutions are crucial for onsite, offsite, worksite, and mobile
ATMs. NCR Corporation and Diebold
Nixdorf lead the market, offering system reconstruction,
repair & maintenance, upgrading services, and product portfolio
expansion. Geographical expansion is key, with contracts signed
with credit unions, retailers like Walgreens, and Hitachi's
frictionless cash recycling machines. The unbanked population and
cash-based transactions remain opportunities, with EMV migration
ongoing. Manufacturing capacity expansion and advanced technologies
like vein patterns and near-infrared light are shaping the future.
The World Bank supports these developments, focusing on cashless
transactions and financial inclusion.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This automated teller machine (atm) market report extensively
covers market segmentation by
- Type
- 1.1 Brown label
- 1.2 White label
- 1.3 Others
- Deployment
- 2.1 Offsite ATM
- 2.2 Onsite ATM
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Brown label- The Automated Teller Machine (ATM)
market is growing steadily due to increasing consumer preference
for convenient and quick cash withdrawals and deposits. Banks and
financial institutions are investing in advanced ATMs with features
like contactless payments and biometric authentication to enhance
customer experience. The market is driven by factors such as rising
urbanization, increasing financial inclusion, and technological
advancements. Global sales of ATMs are projected to reach
USD14 billion by 2025.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global cash logistics market is witnessing steady growth
driven by increasing cash transactions and stringent security
regulations. Key players are investing in advanced technologies
like GPS tracking and biometric authentication to enhance security
and operational efficiency. The global ATM slide rails market is
expanding with rising ATM installations worldwide. Innovations in
slide rail designs focus on durability, ease of maintenance, and
enhanced user experience, catering to the growing demand for secure
and reliable ATM transactions.
Research Analysis
Automated Tellers Machines (ATMs) have revolutionized the
banking sector, enabling cash withdrawal, fund transfer, and
deposit services around the clock. Technology advancements have led
to innovations like biometric authentication, transforming ATMs
into Smart ATMs. Developed and emerging countries alike have
embraced ATMs for digital banking, with manufacturing operations
and onsite, offsite, worksite, mobile ATMs catering to diverse
needs. Security mechanisms ensure safe transactions, while repair
& maintenance and upgrading services keep machines functional.
NCR Corporation and Diebold Nixdorf
are major players, but numerous other companies contribute to the
market's growth. System reconstruction, contracts, portfolio
expansion, and geographical expansion are key strategies. Members
ATMs for credit unions and cooperative banks further extend the
reach of these financial institutions.
Market Research Overview
Automated Teller Machines (ATMs) are digital banking solutions
that enable cash withdrawal, fund transfer, and deposit services
around the clock. Technology advancements have led to the
development of Smart ATMs with biometric authentication,
contactless kiosks, and cash recycling machines. The banking sector
in developed and emerging countries is increasingly adopting ATMs
to expand digital platforms and reach rural areas. Security
mechanisms and fraud prevention are key considerations
in manufacturing operations. Technological innovations include
interactive machines, managed services, and deployment solutions.
Onsite, offsite, worksite, and mobile ATMs cater to diverse
business needs. Ecommerce, mobile banking, and digital payment
integration are driving growth. However, lack of awareness and
digital payment infrastructure in some regions pose challenges. Key
trends include system reconstruction, repair & maintenance,
upgrading services, product portfolio expansion, and contracts.
Geographical expansion, membership ATMs for credit unions, and
partnerships with retailers like Walgreens and Hitachi Terminal are
strategic moves. Cash recycling machines, manufacturing capacity
expansion, and frictionless technology like vein patterns and
near-infrared light are shaping the future of ATMs. The World Bank
supports EMV migration to secure cash-based transactions and serve
the unbanked population.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Brown Label
- White Label
- Others
- Deployment
-
- Offsite ATM
- Onsite ATM
- Others
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/automated-teller-machine-atm-market-size-is-set-to-grow-by-usd-5-91-billion-from-2024-2028--multifunctionality-features-in-atms-boost-the-market-technavio-302200574.html
SOURCE Technavio