ATM Services Industry Outlook 2025-2029: Market Set to Cross $29.48 Billion Milestone

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How Large Will the ATM Services Market Size By 2025?
In recent times, the market size of ATM services has experienced substantial growth. The market, which is expected to rise from $21.84 billion in 2024 to $23.23 billion in 2025, is projected to have a compound annual growth rate (CAGR) of 6.4%. Factors contributing to the growth during the historic period include a growing need for access to banking services round the clock, the expanding scale of card-based transactions, advancements in security standards and encryption technologies, increased urbanization and banking penetration, as well as rural financial inclusion initiatives.

How Big Is the ATM Services Market Size Expected to Grow by 2029?
The market size for ATM services is predicted to flourish significantly in the coming years, reaching $29.48 billion in 2029 with a compound annual growth rate (CAGR) of 6.1%. The surge anticipated within this timeframe can be connected to the increase in cash necessity in developing economies, an upswing in cybersecurity investments, the growing need for contactless and cardless exchanges, regulatory directives and standardization, as well as sustainable and energy-efficient ATM designs. The prediction period is likely to be marked by trends such as contactless and cardless ATM dealings, AI-supported preventive upkeep, voice-activated ATM interfaces, cloud-governed ATM administration, and video banking coupled with remote support.

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Which Key Market Drivers Powering ATM Services Market Expansion and Growth?
The rise in installations of Automated Teller Machines (ATMs) is predicted to accelerate the expansion of the ATM services market. ATM installations involve the operation of establishing ATMs at different venues, including banks, retail outlets, airports, and other public or private areas. The proliferation of ATM installations is propelled by financial inclusion initiatives as governments and financial bodies bolster banking infrastructure in remote and insufficiently served regions to incorporate unbanked individuals into the formal financial framework. ATM services are instrumental in fostering and facilitating ATM installations, guaranteeing seamless operation and customer satisfaction through consistent upkeep, cash restocking, software upgrades, and technical support. For example, in February 2024, a report from the Economic Momentum in Uzbekistan, a government organization based in Uzbekistan, cited a significant surge in the number of ATMs and self-service kiosks, escalating from 20,000 in 2022 to 27,000 within the first 11 months of 2023. Consequently, the escalation in ATM installations is propelling the ATM services market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the ATM Services Market?
Key players in the ATM service market are concentrating their efforts on technology enhancements, including the development of pioneering banking services, in order to streamline operations and meet the growing demand for sustainable, cost-effective cash infrastructure solutions. These trailblazing banking services leverage contemporary technologies like artificial intelligence, blockchain, and the Internet of Things to challenge traditional banking methods. For example, Hitachi Payment Services, a financial technology firm based in India, introduced the country's first upgradeable ATM in April 2024. This progressive ATM features a groundbreaking modular design and is equipped with future-proof technology. The ATM presents novel features like being upgradeable at a component level, which facilitates the seamless incorporation of new features like contactless interfaces, biometric identification, and CB*DC compatibility through straightforward hardware changes as opposed to replacing the entire machine. Field tests have demonstrated a 40% reduction in ownership expenses, an upsurge of 60% in hardware longevity, and a 30% decrease in e-waste.

What Are the Emerging Segments in the ATM Services Market?
The ATM services market covered in this report is segmented -

1) By ATM Type: Traditional Automated Teller Machine(ATMs), Video Teller Machines (VTMs), Cash Dispensers, Surcharge-Free Automated Teller Machine (ATMs)
2) By Product: Automated Teller Machine (ATM) Replenishment And Currency Management, Network Management, Security Management, Incident Management, Other Products
3) By Application: Bank Automated Teller Machine(ATMs), Retail Automated Teller Machine(ATMs)
4) By End User: Banking Sector, Retail Sector, Government Institutions, Hospitals And Healthcare Facilities, Rental And Leasing Companies

Subsegments:
1) By Traditional Automated Teller Machines (ATMs): On-Premise Automated Teller Machines (ATMs), Off-Premise Automated Teller Machines (ATMs), Drive-Up Automated Teller Machines (ATMs), Lobby Automated Teller Machines (ATMs)
2) By Video Teller Machines (VTMs): Interactive Video Teller Machines (VTMs), Self-Service Video Teller Machines (VTMs)
3) By Cash Dispensers: Standalone Cash Dispensers, Integrated Cash Dispensers
4) By Surcharge-Free Automated Teller Machines (ATMs): Network-Based Surcharge-Free Automated Teller Machines (ATMs), Bank-Operated Surcharge-Free Automated Teller Machines (ATMs)

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Who Are the Global Leaders in the ATM Services Market?
Major companies operating in the ATM services market are Fujitsu Limited, Fiserv Inc., The Brink's Company, Euronet Worldwide Inc., OKI Electric Industry Co Ltd., Loomis AB, Hyosung TNS Inc., GRGBanking Equipment Co Ltd., Diebold Nixdorf Incorporated, Armaguard Group Pty Ltd, KEBA AG, CMS Info Systems Limited, Vocalink Limited, Auriga S.p.A., Electronic Payment and Services Private Limited (EPS), Triton Systems of Delaware LLC, CashTransactions LLC, YourCash Europe Limited, Apex ATM Solutions Inc., Vortex Engineering Private Limited.

Which are the Top Profitable Regional Markets for the ATM Services Industry?
North America was the largest region in the ATM services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ATM services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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