ATM Market is expected to reach US$ 44.18 Billion by 2027

PRESS RELEASE BY The Insight Partners 21 Oct 2019

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Increase in Demand for Smart ATM to Provide Growth Opportunities for ATM Market During 2019–2027

According to our latest market study on "ATM Market Forecast to 2027 – Global Analysis – by Deployment, Type, and Geography," the market is expected to grow from US$ 18.44 billion in 2018 to reach US$ US$ 44.18 billion by 2027; it is anticipated to grow at a CAGR of 10.4% from 2019 to 2027.

The single characteristic of banks' transactional services being available 24 hours a day, seven days a week across different locations promotes demand for ATM machines. ATMs are evolving from simple cash dispenser machines to more customized and deeper communication channels, thanks to technology advancements in the banking and financial industries. By implementing more integrated and value-added services, this has aided in achieving client loyalty.

Furthermore, having quick access to sophisticated services such as bill transfer, money transfer between accounts, and check clearance through ATM machines helps financial institutions boost income. As a result, a growth in ATM implementation is likely to produce significant income in the future years.

The worldwide ATM industry is being driven by rising need for security standards, safe transactions, automated wireless devices, and other factors. ATM solution providers are playing a critical part in the financial institution's reinvention strategy owing to the growing number of ATM channels. The banking institution is merging sophisticated technological features with the new technologies, resulting in greater security transactions, increased ATM use, and improved client experiences. The ATM sector relies heavily on compliance and regulatory organizations. The ATM market's complete value chain may be divided down into multiple components. Hardware solution suppliers, software solution providers, ATM integrators, and ATM deployers make up the ATM market ecosystem. The computer and machine equipment for the ATM is provided by the hardware solution suppliers. These ATMs are installed as kiosks in a variety of settings, such as retail malls, buildings, restaurants, freestanding buildings, and train stations.

The ATM market is expected to experience rapid growth in the coming years due to the rising technological advancements and expanding services and facilities in the ATM arena. Also, the immense popularity of cardless ATM transactions coupled with the unprecedented rate of urbanization is anticipated to provide a strong thrust to the growth of the ATM market globally, especially in the developing economies. Improving economic scenario worldwide and the importance of cash being used as the primary medium of financial transactions in a majority of the countries of the world also presents a bright outlook ahead for the ATM market in the coming years.

The global ATM market is segmented on the basis of deployment, type, and geography. Based on deployment, the market is segmented into by the brown label ATM, white label ATM, and bank owned ATM. In 2018, the brown label ATM segment held the largest market share. Based on type, the market is categorized into cash deposit, cash dispenser, smart ATM, and others. In 2018, the cash dispenser segment held the largest market share. Geographically, the ATM market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Asia Pacific held the largest market share and is foreseen to continue contributing maximum revenues during the forecast period.

ATM Market - by Geography, 2019

ATM Market - by Geography, 2019

ATM Market Size, Share and Industry Analysis 2019 to 2027

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ATM Market to 2027 - Global Analysis and Forecasts by Deployment (Brown Label ATM, White Label ATM, and Bank Owned ATM); Type (Cash Deposit, Cash Dispenser, Smart ATM, Others)

CMS Info Systems Limited; Diebold Nicdorf, Incorporated; Euronet Worldwide, Inc; Fujitsu Limited; GRG Banking Equipment Co. Ltd.; Guangzhou KingTeller Technology Co., Ltd.; HESS Cash Systems GmbH & Co; Hitachi-Omron Terminal Solutions, Corp.; NCR Corporation; and Triton Systems are among the key players profiled during the study of the market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global ATM market and its ecosystem.

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