Automated Teller Machine Market Size
Product overview
Automated Teller Machine market to surpass USD 31.1 billion by 2030, which is valued at 20.4 billion in 2021 at a compound annual growth rate of 4.8%.
An ATM is an automated banking outlet that allows consumers to complete simple transactions without a dealer or branch representative. Most ATMs are readily available to people with credit cards or debit cards. An effective cash management system is required for the depositing and cash distribution from ATMs. Cash recycling serves as an innovative cash management system providing benefits to banks such as fake identification, total accuracy, and improved customer service. The banks and credit unions have ATMs in some instances. Individuals and businesses can buy or rent ATMs on their own or from an ATM franchise. If people or small companies, such as restaurants and gas stations, own ATMs, the profit model is focused on fees for computer users.
Market Highlights
Automated Teller Machine market is expected to project a CAGR of 4.8% during the forecast period, 2021-2030
The growing demand for automated systems is expected to affect the installation base over the forecast period in developing countries. In addition, there are also anticipated growth factors such as improved safety standards, technological progress and integrated Wireless devices such as smartphones. The main cause was the reduction of fraud caused by integration and the provision of diverse financial transaction services.
Automated Teller MachineMarket: Segments
The Touch screen segment is anticipated to register XX% of the volume share and is expected to grow at the highest CAGR.
GlobalAutomated Teller MachineMarket is segmented by user interface: into Keypad and touch screen. Due to the keys, keyboard ATMs are better and easier to maintain, but due to an increased demand for user-friendly interfaces, ATM touchscreens have begun to penetrate the global ATM markets, mainly in the industrialized and developing economies.
The deployment segment accounted for XX% of the global volume in 2019 and is anticipated to grow at the highest CAGR.
Global Automated Teller Machine market is segmented by solution type into deployment and managed.Deployment made it easier for consumers to access 24/7 banking services. Increased installation and maintenance activities have drastically affected revenue generation. On the premises of the bank, the installation of machines is performed, with machinery a there is the presence of physical bank branch. Such machines reduce the job burden of bank staff by eliminating long queues for payments, withdrawals, and cash deposits at bank offices. It reduces the probability of causing errors and ensures that banks will perform smooth financial transactions.
Market Dynamics
Drivers
Advancement in services
With the 24 * 7 standalone feature of banks' access to multi-station transactional services, demand for ATMs is increased. ATMs turn from basic cash distributors into more customized and rich forms of communication owing to technical advances in the banking and financial industries. The incorporation and value-added services have helped improve customer loyalty.
Multi Functionality provided by an ATM
Fast access to complex services, including bill transfers, money transfers between accounts, and check clearance on ATM devices helps financial institutions raise banks' revenue. Therefore, in the coming years, a large turnover is expected in the use of automated teller machines.
Restraints
Increasing risk due to technological advancement
Previously there was a substantially low risk of fraud because ATMs were seen as safe because of an online PIN to authenticate transactions. As innovation in the fintech industry is increasing, fraudsters have come up with frauds that hinder market growth, such as magnetic strips and pinhole cameras. Other problems faced by the virtual data space markets are Inconsistent Business Semantics, Data Privacy, and Data Integration Issues, Presence of Data Silos.
Global Automated Teller Machine Market: Regions
Asia Pacific held the largest market accounting for XX% of the total market volume share in 2019
The demand for interactive devices is increasing. It is estimated that more than one million ATMs are installed worldwide with over 800 000 in the Asia Pacific. It is projected that the industry needs will drive demand in this area in large unbanked populations across countries like India and China and in developing countries like Indonesia and Vietnam.
The global automated Teller Machine market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Br,azil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa
GlobalAutomated Teller MachineMarket: Key Players
- Diebold Nixdorf
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Euronet Worldwide Incorporation
- GRG Banking Equipment Co. Ltd.
- NHAUSA
- Source Technologies
- Incorporated NCR Corporation
- Fujitsu Ltd
- Hess Cash Systems GmbH
- NCR Corporation
- Triton Systems of Delaware LLC
- Other prominent players
The global Automated Teller Machine market report also contains analysis on:
Automated Teller MachineMarket Segments
- By user interface
- Keyboard
- Touchscreen
- By solution type
- Deployment
- On-Site
- Off-Site
- Managed
- Automated Teller MachineMarket Dynamics
- Automated Teller Machine Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Frequently Asked Questions (FAQ):
The Automated Teller Machine Market size was estimated at USD 20.4 billion in 2020 and is expected to reach USD 31.1 billion by 2030
Diebold Nixdorf, Euronet Worldwide Incorporation, GRG Banking Equipment Co. Ltd., NHAUSA, Source Technologies, Incorporated NCR Corporation, Fujitsu Ltd, Hess Cash Systems GmbH, NCR Corporation, Triton Systems of Delaware LLC and other prominent players.
The Touch screen segment and The deployment segment are anticipated to hold the Automated Teller Machine Market
Drivers Advancement in services
An ATM is an automated banking outlet that allows consumers to complete simple transactions without a dealer or branch representative. Most ATMs are readily available to people with credit cards or debit cards.
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