Ocean View, DE -- (SBWIRE) -- 05/26/2020 -- Analysts claim ATM market to have a considerably strong presence across major geographies. The necessity to set up effective cash cycle management processes has led to the business sphere observing immense growth across the globe. The rapidly rising population and the popularity of self-serving machines in countries such as Indonesia, China, Vietnam, and India have contributed toward generating high growth potential for APAC ATM market. India in fact, has been forecast to be an attractive business destination for the ATM industry in Asia Pacific with the launch of schemes such as Pradhan Mantri Jan Dhan Yojana by the Indian government.
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With rapid innovations witnessed in the EMV and NFC card technologies, North America ATM market is forecast to observe a profitable expansion. Most of the banks in the region have made large-scale investments in paperless transactions. Companies partaking in North America ATM industry share, in particular, have been involved in product differentiation, which has significantly aided the transformation of the regional ATM market outlook. For instance, in 2015, NCR introduced a new ATM, referred as SelfServ 23, in the region to enhance the end-user experience along with cost-reduction related to ATM network operations. The new product offers protection to its consumers against cash trapping, dispenser manipulations, and card skimming activities. Given the technological advancements prevalent in the region, North America ATM industry is likely to chart out a lucrative growth curve ahead.
The overwhelming expansion of ATM market across the globe has been unparalleled. With the advent of next-gen technologies such as internet of things and massive proliferation of smartphones across major geographies of the world, the financial institutions have been compelled to redefine the banking experience and significantly alter the way customers interact with the ATM. Consequentially, in a bid to remain competitive in the ATM market, the leading manufacturers have been unveiling highly-evolved smart ATMs in the recent times. In early 2017, NCR Corporation launched its SelfServ 80 ATM series, which comes equipped with inbuilt video banking fully integrated into a single ATM platform. This capability allows the financial institutions to provide highly personalized service to its customers who would be assisted by a live teller at the ATM and in addition, the platform would streamline the way branch staff serves them with credit cards, deposits, mortgages, auto loans among others.
Furthermore, the SelfServ 80 series is configured with NCR's CxBanking software suite which ensures amazing consumer experience across physical and digital banking infrastructures. Such innovative, cost-effective, highly-efficient and user-friendly solutions released by ATM industry players, have been complemented with enthusiastic efforts by a large number of financial institutions who appear keen to replace the existing aging machines with the latest multifunctional ATMs. All the aforementioned factors have been instrumental in the rapid expansion of the ATM market size, which was estimated to have surpassed USD 14 billion in 2016, with the total installed base of over 3 million units.
Meanwhile, the ATM industry has been witnessing a revolution of sorts as the emergence of decentralized digital cryptocurrencies has drastically transformed the global currency landscape. Bitcoin ATMs, cite experts, would prove to be a godsend to those who lack the technical know-how and struggle to obtain the complex documentation procedure to complete the lengthy KYC norms of banks. To cite an instance to demonstrate the interesting phenomenon of ATM and bitcoins, Nautilus Hyosung, the global leader partaking in ATM market, has teamed up with a U.S. based mobile payments provider Just.Cash, allowing the transaction of cryptocurrency through the regular ATMs in South Korea. This service would operate in the similar fashion as the conventional ATM works, however, the digital currency would be dispatched to the customer's wallet using a QR code scan. Apparently, cryptocurrency-enabled ATM's would be an invaluable addition to the whole ecosystem of the fast-evolving ATM market.
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Speaking of the competitive hierarchy, the key ATM industry players including GRG Banking, Triton Systems Inc., Fujitsu, Hitachi-Omron Terminal Solutions, Diebold Nixdorf, and Euronet are aiming to capitalize the wide-ranging opportunities by offering managed services for ATMs which would lower the operational costs of banks and allow them to focus on their principal business propositions. The prevailing contemporary trends observed across the ATM market are substantiating the growth potential of the industry, forecast to surpass a revenue of USD 25 billion by 2024.
Table of Contents (ToC) of the report:
Chapter 4 ATM Market, By Solution
4.1 ATM market share by solution, 2016 & 2024
4.2 Deployment
4.2.1 Market estimates and forecast, 2013 - 2024
4.2.2 Market estimates and forecast, by region, 2013 - 2024
4.2.3 Onsite (Bank-owned)
4.2.3.1 Market estimates and forecast, 2013 - 2024
4.2.3.2 Market estimates and forecast, by region, 2013 - 2024
4.2.4 Offsite
4.2.4.1 Market estimates and forecast, 2013 - 2024
4.2.4.2 Market estimates and forecast, by region, 2013 - 2024
4.2.5 Worksite
4.2.5.1 Market estimates and forecast, 2013 - 2024
4.2.5.2 Market estimates and forecast, by region, 2013 - 2024
4.2.6 Mobile
4.2.6.1 Market estimates and forecast, 2013 - 2024
4.2.6.2 Market estimates and forecast, by region, 2013 - 2024
4.3 Managed Services
4.3.1 Market estimates and forecast, 2013 - 2024
4.3.2 Market estimates and forecast, by region, 2013 - 2024
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