ATM Market Dynamics, Size, and Trends by 2027

The ATM market is expected to grow from US$ 18.44 billion in 2018 to US$ 44.18 billion by 2027 at a CAGR of 10.4%.

The ATM market is growing due to an increase in the demand for automation in the banking sector in both emerging and developed nations such as the US, Canada, Italy, and China. Furthermore, during the last few decades, the global banking industry has seen significant technical developments such as the integration of IoT data analysis, digital convergence, and biometrics & cyber security, all of which have fueled ATM market expansion. Aside from cash withdrawal and checking account opening, ATMs allow consumers to open or withdraw FDs, recharge phone bills, pay income tax, and apply for personal loans, increasing convenience.

The ATM market is expected to develop as a result of technological improvements such as digital convergence, IoT data analytic integration, biometrics, and cybersecurity. The inclusion of increased security methods such as fingerprint, biometrics, and double authentication to technologically sophisticated ATMs gives an extra degree of protection, which is expected to assist in preventing fraud and promoting acceptance of ATM. A significant aspect driving the North American ATM industry is the growing desire for cardless ATM transactions. Long-term relationships with business partners are expected to boost income, while new innovation techniques are expected to help ATM suppliers reach new levels in the market. The growing banking infrastructure and increasing number of onsite ATMs to improve client satisfaction are likely to propel the ATM market growth.

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ATM Market: Strategic Insights

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Simple flow of cash, growing number of transactional benefits, speedy withdrawals, and practicality of both online and offline purchasing have all driven ATM usage throughout the world. Due to the abundance of undiscovered prospects, Asia Pacific, the Middle East, and Africa are now exhibiting a robust development potential. The ATM market in Asia Pacific and the Middle East is expected to benefit from economic growth and rising demand for innovative interactive machines in these areas.

ATM Market Insights

Expected Boom in Video Banking Technology

Video banking is an emerging technology in the banking industry where financial institutions such as banks and credit unions can engage their members or customers in face-to-face transactions via remote video collaboration sessions. Customers or members can join the online video sessions by using a personal device, such as a smartphone, from anywhere at any time. Various banks around the world are involved in implementing video technology for ATM, where customers can use high-definition video chat technology to connect with full-service bankers. The video banking technology is user-friendly and easy to operate; the customers can touch ATM screen to select the live teller option. The live teller will appear on the screen to assist the customer regarding cash or check deposits, account withdrawals, loan payments, and transfers. The machines enabled with the video banking technologies do not require debit card or PIN; one can securely withdraw money from a video teller machine (VTM). As it connects the customer face-to-face with a banking representative, it can implement the method of security questions and photo identification for personal verification.

Deployment-Based Market Insights

The automated teller machine (ATM) enables customer to complete transactions without any help from bank representatives. ATMs today are used for multiple banking purposes, such as cash withdrawal, cash deposits, bill payments, and bank statements procurement. Various types of ATMs deployed in the world include brown label ATM, white label ATM, and bank-owned ATM. The ATM market, by deployment, was led by the brown label segment in 2018.

ATM Market Regional Insights

The regional trends and factors influencing the ATM Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses ATM Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

ATM Market Report Scope

ATM Market Players Density: Understanding Its Impact on Business Dynamics

The ATM Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the ATM Market are:

1. CMS Infosystem
2. Diebold Nixdorf, Incorporated
3. Euronet Worldwide, Inc.
4. GRG Banking Equipment Co. Ltd.
5. Guangzhou KingTeller Technology Co., Ltd.

Disclaimer: The companies listed above are not ranked in any particular order.

Type-Based Market Insights

An automated teller machine allows consumers to perform basic transactions using debit or credit cards. It is a system that handles money and performs functions such as cash deposit, cash withdrawal, and fund transfer. The machine involves a card reader, cash dispenser, and a display screen through which relevant account balance information is sent to the user. As compared to traditional bank tellers, today’s ATM, such as smart ATMs, serves as a quick, convenient, and self-serving alternative for a smooth financial transaction. The ATM market, by type, was led by the cash dispenser segment  .

The players operating in the ATM market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In October 2020, NCR Corporation announced the launch of the NCR Activate Enterprise NextGen, NCR’s next-generation ATM software platform that enables banks to deploy customer experiences such as contactless technology and video teller collaboration in a simple manner.
• In 2020, Diebold Nixdorf signed a contract to provide 1,800 ATMs to the largest bank in Saudi Arabia and 500 ATMs to a new customer in Egypt. The companies are also paying attention to fortifying their machines against any possible threat of fraud or break-ins.