Global ATM Market - Industry Growth And Forecast Analysis Report Till 2024

Increasing threats to the security of the systems, due to increasing sophistication of the cyber-attacks is expected to pose a major threat to the ATM market. The companies are forced to upgrade the machine software to be equipped to tackle security breaches. In 2012, the operators in the industry were compelled to upgrade to Windows 7 from Windows XP before April 2014. Microsoft has now announced that the operators need to migrate from Windows 7 to Windows 10 by January 2020 to improve system performance and enhance security.

ATM Market is estimated to surpass USD 25 billion and the install base to exceed 4 million units by 2024. One of the major drivers impacting the industry growth is convenience offered by these machines. Transactional benefits, easy cash flow, and quick withdrawals are some of the factors that attract customers to these machines.

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Upgradation of simple cash dispensers to multifunctional machines is expected to propel ATM market growth. The ability of these upgraded machines to perform functions such as fund transfer, bill payment, and mini-statements, in addition to dispensing cash provides a one-point solution to the customers, thus adding up to the popularity. Furthermore, the proliferation of drive-thru machines is expected to accelerate the ATM market growth. Drive-thru machines are ideal for people who have difficulty in leaving car to visit cash machines, due to either difficulty in finding parking space or gave babies in their cars.

Technology is disrupting the trends with improvisation of basic cash dispensing machines to multi-functional machines. PCI compliance and other regulatory requirements, in addition to EMV upgrades, and new software & hardware functionalities are beginning to enter the industry. Growing trend of consolidation of ATM management through a single vendor to make it easier to implement new programs and processes is driving the ATM market growth. Many providers also offer regulatory compliance guarantees, releasing the financial institution of the cost and inconvenience associated with constantly changing regulations.

Offsite deployment is expected to gain significant share over the forecast timespan, owing to high degree of convenience offered. These machines reach out to large number of customers, as they are conveniently in places such as multiplexes, shopping malls, and entertainment centers.
China ATM market is expected to grow at a significant rate, owing to increasing pressure of government on banks to roll out ATMs to increase access to financial services.

The government intends to make cash machines available all over the country instead of establishing bank branches and increasing operational costs. Foreign brands are restricted to operate independently in the market, due to emphasizes of government on the importance of security and stringent regulations pertaining to independent control of information technology. These global companies have established joint ventures with local brands. For instance, OKI with DCITS and Diebold with Inspur Software have established joint ventures to enter in the China ATM market.

Key players in the ATM market include Diebold, NCR Corporation, GRG Banking, Euronet, Nautilus Hyosung, Tidel Engineering, Oki Electric, AU Optronics Corp., Mitsubishi Electric Corporation, KYOCERA Corporation, Tianma Micro-electronics Co, Hitachi-Omron Terminals Solutions, Triton Systems, HessCash Systems, Intertech Bilgi, and Fujitsu. The players in the industry are investing in technological advancements, in an effort to gain competitive edge. In 2013, Diebold launched smart ATM, followed by Fujitsu in 2014 for retail banking.

Browse key industry insights spread across 145 pages with 218 market data tables & 46 figures & charts from the report, “ATM Market Size By Solution (Deployment [Onsite, Offsite, Worksite, Mobile], Managed Services), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, South Korea, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/ATM-market-report

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