The global ATM Services market reached a value of about USD 22.55 billion in 2021. The industry is projected to grow at a CAGR of around 7.9% in the forecast period of 2022-2027 to reach a value of about USD 32.37 billion by 2027.
The global ATM Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The industry is being driven by the smooth and hassle-free functions of the machine, such as cash withdrawal, cash deposit, and fund transfer. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
An automated teller machine or (ATM) is an electronic banking terminal that enables consumers to conduct simple financial transactions such as cash withdrawals, deposits, funds transfers, balance inquiries, and account information inquiries without the assistance of a teller or branch personnel. The ATM Services industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The Asia Pacific region holds the largest share of the market due to the rising consumer expectations for advanced ATM services due to increased mergers and acquisitions, particularly in the banking industry, in these underdeveloped nations. The region is a fast-expanding market for the industry, with China and India leading the way in terms of installations.
The industry is being driven by the increase in debit cardholders, as consumers anticipate rapid and advanced ATM services for cash withdrawals and other services. The adoption of low-cost ATMs and more cost-effective IP-based connectivity, which lowers the initial investment costs, is fueling the expansion of the industry. Establishing ATMs is more cost-efficient than opening bank branches providing a significant thrust to the industry's growth. The self-service ATM includes features like cash deposit, cash recycling, withdrawal, check deposit, internet banking, coin dispense, banking products and solutions such as loans and credit cards, and the opening and changing of bank accounts which are furthering the industry's expansion. Other factors like rapid urbanisation and rising digitalisation are expected to boost the market growth.
However, the transition to online transactions as new technologies such as artificial intelligence (AI), near field communication (NFC), blockchain, quick response (QR) technology, and others have emerged likely to hinder the market growth.
The global ATM Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global ATM Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
The card reader reads the magnetic stripe at the back or the chip on the front card. The customer uses the keypad to enter their identification number (PIN), the kind of transaction requested, and the transaction amount. Bills are dispensed through a slot in the machine linked to a safe at the machine's bottom. Consumers can request receipts to be printed here if necessary. The kind of transaction, the amount, and the account balance are all recorded on the ticket. The ATM sends out instructions that help the customer through the transaction procedure. Details such as account information and credits are also displayed on the screen.
Banks, financial institutions, and others are incorporating digitalised technology to increase income, improve convenience and efficiency services, and save operating costs for ATMs they have placed. Implementation and use of digitalised technologies such as self-service software, EVM chip cards, mobile-based technology, Internet of things (IoT), and others allow for simple access to various complicated services. Furthermore, by combining technologies such as blockchain, artificial intelligence, the Internet of things (IoT), and others, ATM managed service providers will be able to implement tight security and, as a result, meet the needs of ATM users in the market. Cardless transactions, video teller assistance, omnichannel experience cloud technology, 4G enabled connectivity, and biometric scanners have all been introduced into the worldwide ATM services business. Cardless transactions, deposit automation, self-service ATMs, and bitcoin ATMs are among the significant technical advances. The inclusion of increased security measures such as fingerprint, biometrics, and double authentication to technologically sophisticated ATMs gives an extra layer of protection, which is believed to minimise fraud and boost ATM usage.
The regional markets for the industry can be divided into Europe, North America, the Asia Pacific, South America, and the Middle East and Africa.
The Banking Maintenance Support and Service Market have a consolidated competitive environment due to a few significant service providers worldwide. The service providers are collaborating with several financial institutions worldwide to develop their offerings and assist these institutions in improving their client experience. Companies are concentrating on expanding their market position through intelligent acquisitions and the introduction of innovative technology. To boost market penetration and strengthen their role in the business, key companies are pursuing methods such as mergers and acquisitions, product portfolio growth, contracts, and regional expansion.
1. Executive Summary
2. Global ATM Services Market Snapshot
2.1. ATM Services Market Outlook
2.2. Regional Overview
2.2.1. North America
2.2.3. Asia Pacific
2.2.4. Latin America
3. Impact of Recent Events
4. ATM Services Value Chain Analysis
5. Trade Analysis
6. Major Risk Factors in Sourcing
7. Key Demand Indicator Analysis
8. Key Price Indicator Analysis
9. ATM Services Market Dynamics
9.1. Drivers & Constraints
9.2. Industry Events
9.3. Innovations & Trends
9.4. SWOT Analysis
9.5. Porter’s Five Forces
9.5.1. Buyer Power
9.5.2. Supplier Power
9.5.3. Threat of New entrants
9.5.4. Threat of Substitutes
9.5.5. Industry Rivalry
10. Industry Best Practices
10.1. Sourcing Strategy
10.2. Procurement Model
10.3. Contract Structure
10.4. Negotiation Levers
10.5. Pricing Model
10.6. Key Factors Influencing the Quotation
11. Key Supplier Analysis
11.1. NCR Corporation
11.2. Cardtronics, Inc.
11.3. Euronet Worldwide
11.4. Diebold Nixdorf Incorporated
The global ATM Services market size was valued at USD 22.55 billion in 2021.
As per the type provided, the Onsite ATMs segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for hassle-free cash transactions is one of the essential drivers of the ATM Services market growth.
NCR Corporation, Cardtronics, Inc., Euronet Worldwide, Diebold Nixdorf, Incorporated, and Payment Alliance International are the leading companies in the market.
The Asia Pacific region of the ATM Services industry holds a significant share in the market.
The global ATM Services market attained a value of USD 22.55 billion in 2021, driven by the rising demand for efficient money transactions without the assistance of any official personnel. Furthermore, the increasing penetration of debit cards is driving the industry's expansion. Other factors such as rapid urbanisation and digitalisation further propelled the market growth. Aided by the growing technological advancements, like the integration of fingerprint technology, etc., the market is expected to witness a further increase in the forecast period of 2022-2027, growing at a CAGR of 7.9%. The market is projected to reach USD 32.37 billion by 2027. Some of the leading players in the industry are NCR Corporation, Cardtronics, Inc., Euronet Worldwide, Diebold Nixdorf, Incorporated, Payment Alliance International.
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