Increasing investments for process automation and favorable government policies have fostered the growth of the market. In addition, the growing competition among financial institutions to magnify their reach has also accelerated the rate of ATM deployment in Asia-Pacific.
Portland, OR -- (SBWIRE) -- 09/27/2017 -- Asia-Pacific ATM Market is expected to garner $7.9 billion by 2020, registering a CAGR of 10.7% during the forecast period 2015 - 2020. Automated teller machines (ATMs) have evolved from just cash dispensing machines to multifunctional equipment that provide not only cash withdrawal facilities but offer currency conversions facilities, account information, deposits, transfers, bill payment, cash recycling among other services.
China dominates the market for ATM market owing to growing customer base, rising urbanization and large untapped rural areas that showcase greater potency. However, India is expected to grow rapidly during the forecast period owing to favorable government initiatives for improving the banking services.
The ATM industry in the region has undergone significant technological transformations over the past few years. Unlike conventional ATMs, which only provide cash withdrawal facility, new ATMs such as Smart ATMs, are equipped with a number of advanced features which include fund transfer facility, bill payment and smart phone connectivity among others.
Key findings of ATM Market
* Smart ATMs is anticipated to be the most lucrative segment & is expected to grow at the fastest CAGR of 27.0% during the forecast period
* Increase in the demand of offsite ATMs in Asia- Pacific region would foster the overall Asia-Pacific ATM market over the forecast period
* China dominates the Asia-Pacific ATM market & would continue to lead the market by 2020
* NCR Corporation
* Diebold INC.
* Hitachi-Omron Terminal Solutions Corporation
* Nautilus Hyosung
* Wincor Nixdorf AG
* Triton Systems of Delaware LLC
* HESS Cash Systems GmbH & Co
* Euronet Worldwide INC.
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