Press release
ATM Market Estimated to Exceed US$ 29.6 Billion Globally by 2023-2028 | CAGR of 5%
ATM 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 machine that enables customers to perform financial transactions, such as withdrawing cash, depositing funds, obtaining account balances, and transferring funds. Some ATMs also offer additional services, including withdrawing foreign currency, paying bills, and even donating to charities. It comprises a card reader, cash dispenser, keypad, printer, and display screen, which generally conveys relevant account balance information to the user. It is typically located inside or outside banks and financial institutions, as well as in some retail stores and other convenient locations. It provides customers with convenience and flexibility when it comes to managing their finances. Compared to traditional bank tellers, it serves as a convenient, quick, and self-serving alternative for a smooth financial transaction.
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Global ATM Market Trends:
Significant growth in the banking sector majorly drives the global market. This can be supported by the rapid digitalization in both emerging and developed economies. Since ATMs provide provisions for fund transfer and bill payments and 24x7 availability of cash, this is favoring the market across the globe. As banks are expanding their services to a more extensive customer base, the installation of ATMs is increasing in order to reach customers in remote areas while also providing a cost-effective way to offer their customers access to their funds, which is propelling the market. Along with this, the cost to install and maintain an ATM is becoming progressively more affordable, making it a viable option for smaller banks, thus catalyzing the demand in various countries.
With the escalating need for convenient banking services, the demand for ATMs is rising as more consumers seek quick and easy solutions to access their funds, this is impacting the market. Along with this, the widespread adoption of ATMs across numerous banks in decreasing the overall workload of bank employees and aiding the consumer to avoid long queues for cash deposits and transfers is significantly supporting the demand. Apart from this, banks are investing in advanced security measures, such as biometric authentication and encryption technologies to protect better their customers' funds, which is creating a positive market outlook.
Competitive Landscape:
By IMARC group the report has also analyzed the competitive landscape of the market with some of the top atm manufacturers & companies 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
Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/atm-market
Key Market Segmentation:
Breakup by Solution:
• Deployment Solutions
o Onsite ATMs
o Offsite ATMs
o Work Site ATMs
o 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)
Get in Touch with our Expert Team for Inquire or further information: https://www.imarcgroup.com/request?type=report&id=1429&flag=C
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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IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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