Press release
Emerging Trends to Drive Next-Gen ATM Market Growth at 8.9% CAGR Through 2029
Next-Gen ATM
Next-Gen ATM Market Size Growth Forecast: What to Expect by 2025?
The market size of next-generation ATMs has seen robust growth in the past few years. Projected growth sees it increase from a value of $3.26 billion in 2024, to a value of $3.49 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.1%. Factors contributing to this historic growth can be linked to the upsurge in demand for digital banking solutions, a rise in cardless transactions, a heightened adoption of mobile wallets, amplified spending capacity, and an increase in disposable income.
How Will the Next-Gen ATM Market Size Evolve and Grow by 2029?
In the coming years, the next-gen ATM market is predicted to enjoy robust growth, expanding to a market size of $4.9 billion by 2029. This represents a Compound Annual Growth Rate (CAGR) of 8.9%. The growth during this forecast period is linked to the escalating demand for bespoke services and experiences for banking customers, enhanced efficiency and decreased costs for financial institutions, and the steadily increasing use of smartphones and internet services. Key trends expected to shape the market during the forecast period are the integration with mobile banking applications, the offering of personalized and user-specific experiences, API-based architectural innovations, product advancements, and market proliferation.
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What Drivers Are Propelling the Growth of Next-Gen ATM Market Forward?
The anticipated increase in the value of consumers' purchasing power parity (PPP) is projected to stimulate the growth of the next-gen ATM market. The PPP, a key macroeconomic indicator, offers a comparison of different countries' currencies using a basket of goods approach. Unlike fluctuating market rates, PPP exchange rates remain fairly consistent over time and give a more precise assessment of relative economic productivity and living standards between nations. This can aid next-gen ATMs in deciding where to extend their operations. For instance, data from the Energy Information Administration, an American federal statistical system organization, revealed that in 2021, the purchasing power annual average index value was 270.97. This figure is predicted to rise to 292.66 in 2022. Thus, the escalating value of consumers' purchasing power parity (PPP) is fueling the growth of the next-gen ATM market.
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What Are the Key Trends Driving Next-Gen ATM Market Growth?
Leading firms in the diamond wall saw market are concentrating on technologies such as Blaze to improve the accuracy of cutting, boost operational competency, and minimize material wastage in construction and demolition endeavors. Blaze is a flexible technology platform tailored for the efficient processing of data and conducting analytics. For example, Financial Software & Systems Pvt. Ltd., a private banking organization in India, introduced a novel payments technology platform, Blaze, in August 2023. With a capacity to process over 5,000 transactions per second (TPS), Blaze aligns perfectly with the escalating acceptance of digital commerce and is ideal for high-demand settings.
What Are the Key Segments in the Next-Gen ATM Market?
The next-gen atmmarket covered in this report is segmented -
1) By Type: Cash Dispensers, Deposit ATMs, Cash Recycling ATMs, Self-Service ATMs, Self-Service Kiosks, Mobile ATMs, Other Types
2) By Solutions: Deployment, Managed Services
3) By Technology: Contactless, Voice Recognition, Biometrics, Video Banking, AI (Artificial intelligence) And IoT (Internet of Things) Integration
4) By Application: Bank Service Agent, Bank, Retail, Enterprises
Subsegments:
1) By Cash Dispensers: Basic Cash Dispensers, High-Volume Cash Dispensers
2) By Deposit ATMs: Envelope Deposit ATMs, Bulk Note Deposit ATMs
3) By Cash Recycling ATMs: Single-Cassette Recycling ATMs, Multi-Cassette Recycling ATMs
4) By Self-Service ATMs: Cardless Self-Service ATMs, Interactive Self-Service ATMs
5) By Self-Service Kiosks: Bill Payment Kiosks, Ticketing Kiosks
6) By Mobile ATMs: Temporary Event ATMs, Mobile Banking ATMs
7) By Other Types: Biometric ATMs, Cryptocurrency ATMs
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Who Are the Key Players Shaping the Next-Gen ATM Market's Competitive Landscape?
Major companies operating in the next-gen ATM market include Fujitsu Limited, NCR Corporation, Diebold Nixdorf Inc., Euronet Worldwide Inc., OKI Electric Industry Co. Ltd., Hyosung Corporation, ACI Worldwide Inc., GRG Banking Equipment Co. Ltd., Bancsource, Hitachi Payment Services Pvt. Ltd., Nautilus Hyosung America Inc., Invenco Group Ltd., Aevi International GmbH, HESS Cash Systems GmbH, Puloon Technology Inc., Triton Systems of Delaware LLC, Spinnaker International Ltd., Ark Technologies Group, Citywide ATM Inc., Unified Payments Services Ltd., Genmega Inc., Sharenet Inc., Cypress Advantage, TEKchand Pty Ltd.
What Geographic Markets Are Powering Growth in the Next-Gen ATM Market?
North America was the largest region in the next-gen ATM market in 2024. The regions covered in the next-gen ATM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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