ATM Market 2023: Set to Reach US$ 29.6 Billion by 2028, Expanding at CAGR of 5%
The latest report by IMARC Group, titled “ATM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global ATM market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global ATM (Automated Teller Machine) market size reached US$ 22.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
An automated teller machine (ATM) is an electronic banking outlet that allows customers to access all basic transactions of the bank, such as deposits, withdrawals, view account balances, and transfer balances between accounts. It facilitates the availability of banking services to customers throughout the day. It allows consumers to conduct simple transactions without the assistance of a branch operator or teller. It is convenient as it enables customers to do quick self-service operations, such as deposits, cash withdrawals, bill payments, and account transfers. It typically comprises a keypad, dispenser, printer, card reader, and display screen to prompt the user through each transaction step. Some ATMs act solely as cash dispensers, while some execute various tasks, such as fund transfer, check and cash deposit, and bill payment.
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Covid-19 Outlook on ATM Market:
The COVID-19 pandemic has disrupted ATM manufacturing operations and supply chains, thus negatively impacting the ATM market. With the strict restrictions on movement and varying degrees of lockdowns across several countries paralyzing economic activities, many people shifted toward digital platforms for banking transactions. Social distancing norms created barriers for consumers in terms of visiting the ATM locations and completing various procedures. With easier accessibility to online platforms, customer reliance for completing transactions diverted to e-wallets & mobile payment applications, thus reducing the need for in-hand cash.
Global ATM Market Trends:
The global market is majorly driven by the growing demand for ATM automation. In line with this, the need for digitalization in the banking sector is positively influencing the demand for ATMs. Furthermore, the high adoption of ATMs in emerging nations post-pandemic is catalyzing the market. Apart from this, numerous industry players are focusing on integrating advanced technologies, such as AI, IoT, and biometrics technology, with machines to offer a seamless customer experience. Moreover, with continual technological advancements, customers seek secure, faster, more convenient, and a reliable means of accessing cash, thereby favoring the widespread adoption of ATMs globally. Besides this, improved security measures, including biometric and one-time password authentication systems to prevent fraud, and the advent of Smart ATMs for special-needs users are strengthening the market.
Competitive Landscape:
By IMARC group the report has also analyzed the competitive landscape of the market with some of the top atm providers being
Some of these key players include:
- Diebold Inc.
- Wincor Nixdorf AG
- NCR Corporation
- Triton Systems of Delaware
- Hitachi-Omron Terminal Solutions
- GRG Banking Equipment Co. Ltd.
- OKI Electric Industry co. Ltd.
- Nautilus Hyosung Corporation
- HESS Cash Systems GmbH & Co KG
- Fujitsu Ltd.
- Euronet Worldwide
- Brink's Company
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Key Market Segmentation:
Breakup by Solution:
- Deployment Solutions
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- Onsite ATMs
- Offsite ATMs
- Work Site ATMs
- Mobile ATMs
- Managed Services
Breakup by Application:
- Withdrawals
- Transfers
- Deposits
Breakup by Type:
- Conventional/Bank ATMs
- Brown Label ATMs
- White Label ATMs
- Smart ATMs
- Cash Dispensers
Breakup by Screen Size:
- 15" and Below
- Above 15"
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global ATM Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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