Global ATM Market IsGrowing Due To Surge In Automation In Banking Industry In Both Developed And Emerging Economies Along With The Several Technological Advancements In This Sector.

Automatic Teller Machine (ATM) is a computerized machine, which enables a holidaymaker to withdraw money or handle his or her own money only by getting an authorized card from a financial institution where the individual has a bank account. In addition, ATM enables the account holder to conduct many other transactions such as checking balances, printing statements, sending money, and even making cash deposits into the account. Customers can use ATM service on their ATMs, regardless of whether they have a bank account in any other bank. They are regarded as a secure and convenient way of managing capital. Today, on-site ATMs are set up within the bank premises, where both the physical bank and the ATM are used. This reduces the working load of bank workers and allows consumers to get rid of lengthy lines for cash transactions and deposits and removals. This reduces the frequency of errors by ATMs which enable banks to carry out transparent financial transactions.

The global market demand for ATM in 2019 was projected at around USD 16 billion, with an estimated USD 31 billion at the end of 2026. It has been anticipated by the industry players and analysts that the global ATM market growth will be growing at a CAGR rate of 7% between 2020 to 2026.

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Rising digitization is acting as an enabler to the market. To provide customers with comfort and security during financial transaction management, financial institutions and ATM operators concentrate on EMV migration requirements at ATM. EMV applies to MasterCard, Europay, and Visa, which provide improved protection for smart cards.

The increase in technological innovation has led to automation across numerous vertical industries around the world. ATMs in the banking sector have increased the performance and productivity of bankers. Thereby, certain factors lead to the global ATM market.

Top Market Players

  • GRG Banking
  • Nautilus Hyosung
  • Diebold Nixdorf
  • Hitachi
  • ITM
  • Fujitsu
  • OKI
  • NCR
  • Keba
  • Synkey Group.

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The ATM market is fragmented into application and type. In terms of type, the market is classified into conventional/bank ATMs, brown ATMs, white ATMs, and smart ATMs. Besides, the application category is stratified on a demand basis into the banking and retail industries. Banks are the biggest installers of ATMs and currently have the largest share of the market. The retail banking sector focuses on simplifying the purchase process of the customer with banks. A growing appetite for fund management service channels has led banks to provide advanced features on ATMs, such as cash deposits and transactions between ATM accounts. Some services are provided by intelligent ATMs. Currently, as newly introduced, it holds less market share. In future years, smart ATMs are thus expected to play an important role in shaping the demand in the global ATM industry.

Based on geography, the North America region has accounted for the largest market share of around 35% among other regions in the global ATM market. It is due to Increased operating costs in the United States that have driven service providers to adopt solutions. The Asia Pacific and Middle East & Africa are predicted to register substantial growth during the forecast timeline due to rising demand for interactive machines. More than one million ATMs are projected to be deployed worldwide, with more than 800,000 in the Asia Pacific. The need to serve massive unbanked populations in countries such as India and China as well as emerging markets in Indonesia and Vietnam is expected to fuel demand in this region. Countries like Nigeria, Brazil, Iran, and Russia are also projected to be experiencing high demand for new machines. The Middle East and Africa are also expected to register tremendous growth as a result of the cash-driven economy, combined with strong market demand and government funding for electronic banking.

Frequently Asked Questions

What isATM?

Automatic Teller Machine (ATM) is a computerized machine, which enables a holidaymaker to withdraw money or handle his or her own money only by getting an authorized card from a financial institution where the individual has a bank account. Customers can use ATM service on their ATMs, regardless of whether they have a bank account in any other bank. They are regarded as a secure and convenient way of managing capital.

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What are the key factors driving ATM Market expansion?

The global ATM market is growing due to a surge in automation in the banking industry in both developed and emerging economies along with several technological advancements in this sector.

What will be the value of ATM Market during 2020- 2026?

The global market demand for ATM in 2019 was projected at around USD 16 billion, with an estimated USD 31 billion at the end of 2026. It has been anticipated by the industry players and analysts that the global ATM market growth will be growing at a CAGR rate of 7% between 2020 to 2026.

Which region will make notable contributions towards global ATM Market revenue?

North AmericanATM market is anticipated to contribute remarkably towards the ATM market size in the coming years. It is due to Increased operating costs in the United States that have driven service providers to adopt solutions. The Asia Pacific and Middle East & Africa are predicted to register substantial growth during the forecast timeline due to rising demand for interactive machines.

Which are the key players leveraging ATM Market growth?

Some of the leading and top ATM companies in the global ATM market include Diebold Nixdorf, Incorporated, Nautilus Hyosung, GRG Banking Equipment Co. Ltd., Hitachi, ITM, Fujitsu Ltd, NCR Corporation,  Euronet Worldwide Incorporation, Hess Cash Systems GmbH, Source Technologies, Triton Systems of Delaware LLC, Synkey Group OKI, and Keba amongst others.