Press release
ATM Market Forecasted to Reach US$ 34.4 Billion by 2032, With a 4.3% CAGR - [Latest Research Report 2024]
The latest report by IMARC Group, titled "ATM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," 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 market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.
Factors Affecting the Growth of the ATM Industry:
• Continuous Technological Advancements:
The ATM market is significantly driven by continuous technological innovations. These advancements include the integration of touchless interfaces, biometric authentication, and advanced software solutions that enhance user experience and security. This evolution in ATM technology caters to the growing consumer demand for quick, secure, and convenient financial transactions. Additionally, enhanced functionalities such as mobile phone integration, QR code operations, and voice recognition are becoming more prevalent, making ATMs more accessible and user-friendly. These technological upgrades attract a broader customer base and help financial institutions streamline their operations and reduce costs, thus fueling the growth of the market.
• Increasing Demand for Automated Financial Services:
The global expansion of automated financial services is a key factor propelling the ATM market. This rise is particularly noticeable in developing regions where banking penetration is increasing, and there is a growing need for convenient cash access and financial transactions. ATMs play a crucial role in this context, offering 24/7 banking services, reducing the need for physical bank branches, and catering to the underbanked populations. This increase in demand is also spurred by the growing preference for self-service banking, which allows customers to perform various transactions without bank teller assistance. Along with this, the rising need for efficient and round-the-clock financial services is contributing to the expansion of the market.
• Escalating Security Measures:
Security concerns in financial transactions are a major factor driving innovations and growth in the ATM market. With the increasing incidence of financial fraud and security breaches, there is a growing demand for ATMs equipped with advanced security features. These include biometric authentication, one-time passwords, and encryption technologies that ensure secure transactions and protect user data. Financial institutions are increasingly investing in these sophisticated ATMs to gain customer trust and comply with stringent regulatory requirements regarding data protection and transaction security. This focus on enhanced security bolsters consumer confidence and plays a critical role in the sustained growth and modernization of the ATM market.
Request Free Sample Report: https://www.imarcgroup.com/atm-market/requestsample
Global ATM Market Trends:
The shift towards more eco-friendly and energy-efficient machines, addressing growing environmental concerns and operational cost considerations are positively influencing the market. Additionally, the market is witnessing a rise in the deployment of multifunctional ATMs, capable of offering services beyond cash withdrawal, such as bill payments, fund transfers, and cheque deposits.
In addition, the growing trend of partnerships between banks and non-banking entities, and expanding ATM networks to new, untapped locations is also favoring the market. Moreover, the emergence of outsourced ATM management services is gaining traction, as financial institutions aim to optimize operational efficiency and focus on core banking activities.
Competitive Landscape:
By the IMARC Group, Some of the Top ATM Companies Operating in the Industry are Given Below:
• 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 the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/atm-market
ATM Market Report Segmentation:
Breakup by Solution:
• Deployment Solutions
o Onsite ATMs
o Offsite ATMs
o Work Site ATMs
o Mobile ATMs
• Managed Services
Deployment solutions represent the largest segment in the ATM market due to the high demand for installation, maintenance, and upgrading services as financial institutions continually seek to expand their ATM networks and integrate advanced technologies.
Breakup by Screen Size:
• 15" and Below
• Above 15"
On the basis of screen size, the market has been divided into 15" and below and above 15".
Breakup by Application:
• Withdrawals
• Transfers
• Deposits
Withdrawals represented the largest segment in the market as the primary function of ATMs remains to provide consumers with convenient, 24/7 access to cash, which is a fundamental banking need globally.
Breakup by Type:
• Conventional/Bank ATMs
• Brown Label ATMs
• White Label ATMs
• Smart ATMs
• Cash Dispensers
Brown label ATMs accounted for the largest segment by type due to their cost-effectiveness for banks, as they involve outsourcing hardware procurement and maintenance to third-party service providers while the financial institutions manage cash operations and network connectivity.
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)
Asia Pacific's dominance in the global ATM market is attributed to the rapid expansion of banking services, increasing financial inclusion, and the growing demand for self-service banking in highly populous countries.
Key highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• 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
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.
Also, Read the Latest Research Reports 2024-2032, Published by IMARC Group:
• Activated Alumina Market Report: https://www.imarcgroup.com/activated-alumina-market
• Track And Trace Solutions Market Report: https://www.imarcgroup.com/track-trace-solutions-market
• Tilapia Market Report: https://www.imarcgroup.com/tilapia-market
• Solar Microinverter Market Report: https://www.imarcgroup.com/solar-microinverter-market
• Steel Tubes Market Report: https://www.imarcgroup.com/steel-tubes-market
IMARC Group
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Email: Sales@imarcgroup.com
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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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