Automated Teller Machine (ATM) Market - Technological Advancements, Trends and Opportunities for the Industry by 2025

The Asia Pacific region accounted for a market share of approx. half the global ATM market in the year 2016. Europe was in a distant second place with a market share touching a fifth of the global ATM market. The APAC region led by the dynamic economies of China and India is anticipated to record a CAGR of 8.2% over the course of the forecast period, making it imperative for key stakeholders in the ATM market to be present in this region.

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Rural banking crucial in the APAC ATM market

Banks have been on an expansion spree in the APAC region to cater to the financial needs of people in this highly populous continent. There is a strong focus on financial inclusion and the ATM market has proliferated in rural, remote and far-flung regions of the continent. There is also a booming demand from the urban populace that seek instant services coupled with value-based features. The continent has the largest population on the planet but the ATM ratio per person is very low. Therefore, the opportunity in the APAC market is truly limitless, particularly in the rural and semi-urban areas. For e.g. – In 2016, 20% of ATM card holders in rural areas were from the APAC region. Rural Asia is cash-centric and this ensures that the APAC ATM market is poised to grow by leaps and bounds.

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Financial initiatives and encouragement critical in the APAC ATM market

Governments in the APAC region are working on rules and regulations that are expected to greatly simplify their existing financial infrastructure. These policies are put in place to ensure increased acceptance and adoption in the ATM market. A large number of these were initiated by banks a major one being provided all bank account holders their own ATM card. For e.g. – In September 2015, the Indian government permitted 100% FDI for non-banking financial institutions to install white label ATM’s with the objective of broadening the reach of ATM’s in the world’s second most populous country.

Data security a major concern in the APAC ATM market

The security of ATM machines is a key issue in the APAC ATM market. A stringent and foolproof bank policy is the need of the hour as this can be followed regionally. Factors such as unreliable telecommunication networks and adverse weather conditions have made it tricky for ATM vendors to broaden their reach in many parts of the developing world that need them the most. While satellite and wireless connections are present, high volumes lead to network congestion and coverage is typically not found across the nation in several developing regions on this continent. For e.g. – In April 2017, a man was apprehended by the Chinese police for robbing an ATM machine along with two accomplices. ATM robbery is quite common in the nation and it is necessary to deploy strong security measures to nip such practices in the bud.

Target China in the APAC ATM market

The China ATM market is on track to grow by 0.9x from 2017-2025 and reach a value of approx. US$ 8 billion by end 2025. China is likely to be larger than Japan, India, and ASEAN combined by that time and key stakeholders are recommended to devise their business strategies keeping the needs of Chinese customers in mind. However, India is projected to witness a CAGR of 9% for the period.

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