The global ATM market is
expected to reach USD 24.92 billion by 2022, according to a new study by Grand
View Research, Inc. Rising demand for automated wireless communication devices
along with growing security standards are estimated to drive the industry.
Enhanced security standards for
safer online, and physical financial transactions has led to a significant rise
in use of these services. Further, continuation of strict security standards
and safer modes of financial transactions are expected to have a substantial
impact on the industry growth.
Automation of the basic
financial transactions and technological advancements increasing at alarming
rate would increase mobile transcations among the customers. Linkage of ATMs
with wiireless devices would facilitate the customers to complete the
transcations securely.
Rising competition amongst the
banks to increase the penetration, would lead to its huge installation base,
thus offering lucrative growth opportunities for the industry. In order to
reduce the frauds, manufacturers and financial institutions are opting for
anti-skimming, biometric devices, and voice recognition systems.
In depth research report on ATM Market
Further key findings from the study suggest:
·
ATM deployment solutions
industry accounted for over 70% of the overall revenue in 2014. They comprise
installed machines at varied locations such as worksite, onsite, offsite and
mobile segment. The deployment revenue comprises of installed machines and
services as well as its maintenance. Rise in installation base and increasing
maintenance activities are estimated to drive segment growth.
·
ATM managed services market is
estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from
2015 to 2022. It contributes significantly towards strengthening the
infrastructure for multichannel delivery for better customer retention,
acquisition and cross selling opportunities.
·
North America ATM market
dominated in terms of revenue in 2014, and is expected to significantly lose
share by 2022. Adoption of smart machines across countries such as U.S. is
estimated to impel growth across this region. Increasing trend of trading in
digital currency is driving demand for Bitcoin ATMs across the region.
·
Asia Pacific ATM industry is
expected to grow at a substantial growth rate of over 12% from 2015 to 2022.
Rising demand for self-service machines and ever increasing customer base
across regions such as China and India are estimated to drive the regional
demand over the next seven years. Additionally, increasing trend of outsourcing
its related activities by financial institutions is projected to positively
impact growth across this region.
·
ATM market share is occupied by
companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet
Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships
with the manufacturers are some of the notable strategies adopted by the
vendors. For instance, In October 2014, Diebold launched a new 5500 series of
with advanced security features such as biometric finger-vein readers and
security camera provisioning.
Grand View Research has
segmented the ATM market on the basis of solution and region:
ATM Solution Outlook (Revenue, USD Million, 2012 - 2022)
·
Managed Services
·
Deployment
·
Onsite
·
Offsite
·
Worksite
·
Mobile
ATM Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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