ATM Market Size, Share, Growth, Trends, Forecast, Industry Value | Valuates Reports

ATM Market

The global ATM (Automated Teller Machine) market size is projected to reach USD 24010 Million by 2027, from USD 12350 Million in 2020, at a CAGR of 9.8% during 2021-2027. Customers preference for faster, reliable, secure, and convenient means of accessing cash, is contributing toward the growth of the global ATM market.

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What is ATM?

Computer-controlled terminal located on the premises of financial institutions or elsewhere, though which customers may make deposits, withdrawals or other transactions as they would through a bank teller. Other terms sometimes used to describe such terminals are customer-bank communications terminal (CBCT) and remote service unit (RSU). Groups of banks sometimes share ATMs. Sometimes called Automated Banking Machines.

ATM Market Trends

One of the primary reasons driving the worldwide Automated Teller Machine (ATM) market is Several governments' financial inclusion policies continue to push cash as a necessary payment medium for day-to-day transactions.

By implementing cardless ATM transactional functions such as a one-time access code and biometric verification, financial institutions and individual ATM vendors are working on modernizing their ATM infrastructure to improve security and convenience, as well as to give a personalized smooth banking experience to clients. This in turn is expected to increase the growth of ATM market size.

Customers' mobile transactions will increase as fundamental financial activities are automated and technological improvements continue to accelerate at an alarming rate. Customers would be able to perform transactions more securely if ATMs were linked to wireless devices. Furthermore, increased rivalry among banks to boost penetration would result in a large installed ATM base, thereby driving the growth of the ATM market.

However, the development in digitization in developing countries is likely to have a negative impact on the automated teller machine (ATM) market income. This is due to consumers' growing demand for digital payment alternatives including online and mobile banking, digital wallets, and Bitcoin transactions. These internet banking channels offer convenient, quick, and secure transactions, limiting the worldwide ATM market's growth.

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ATM Market Segmentation

Key Companies
• GRG Banking
• Nautilus Hyosung
• Euronet Worldwide
• NCR
• Diebold

By Type
• On site
• Off site

By Application
• Withdrawals
• Transfers
• deposits

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