ATM Market Size, Share and Industry Analysis 2019 to 2027

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)

Publication Month : Oct 2019

  • Report Code : TIPTE100000664
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 153
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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

atm-market
Market Size Value inUS$ 18.44 Billion in 2018
Market Size Value byUS$ 44.18 Billion by 2027
Growth rateCAGR of 10.4% from 2019-2027
Forecast Period2019-2027
Base Year2019
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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.

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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.

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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Deployment ; Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. CMS Infosystem
  2. Diebold Nixdorf, Incorporated
  3. Euronet Worldwide, Inc.
  4. GRG Banking Equipment Co. Ltd.
  5. Guangzhou KingTeller Technology Co., Ltd.
  6. Hitachi-Omron Terminal Solutions, Corp.
  7. NCR Corporation
  8. Triton Systems
  9. HESS Cash Systems GmbH & Co.
  10. Fujitsu Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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