New York, NY -- (SBWIRE) -- 01/21/2021 -- ATM or automated teller machine is an electronic banking outlet that allows a person to perform various functions related to a personal bank account including deposition or withdrawal of money, checking account balances, purchase of stamps, and print a transaction statement. A person does not need to visit the bank branch for performing these highly important actions. These machines can be both off-premise and on-premise. ATMs include four output and two input devices. To function, the ATM has to connect with the processor and communicate through it. The global ATM market is projected to reach USD 28.21 billion by the year 2027.

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Key players in the global ATM market:

AU Optronics Corp.
KYOCERA Corp.
Mitsubishi Electric Corporation
Sharp Electronics Corporation
Tianma Micro-electronics Co. Ltd.
NCR Corporation
Fujitsu Limited
Diebold Nixdorf
Euronet Worldwide Inc.
GRG Banking Equipment Co. Ltd.
Hess Cash Systems GmbH & Co. Kg
Hitachi-Omron Terminal Solutions Corporation
Nautilus Hyosung

ATM Market: Market Drivers

In 2019, the global ATM market was valued at USD 19.53 billion. The CAGR of the global ATM market is estimated to be 8.5% during the forecast period. Due to their high demand, the market is highly competitive. Many reasons are contributing to the market sales of ATMs throughout the globe. The most crucial one is the faster and more efficient transaction of money. Technological advancements are also boosting the industry at the global level. In the banking sector, the surge in automation is rapidly increasing and would boost market growth further in the coming years.

Market segment based on Solutions:

On-site ATMs
Off-site ATMs
Worksite ATMs
Mobile ATMs
Managed services

Market segment based on Type:

Conventional/Bank
Brown label
White label
Smart
Cash dispensers

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ATM Market: Regional Outlook

Asia Pacific and Middle East & Africa are expected to witness significant growth in the global ATM market owing to the rapid industrialization in these regions. Other countries like Russia, Brazil, Nigeria, etc, are also poised to show robust growth in the upcoming years.

Key questions addressed in the report are:

What is the estimated market size and share in the forecast period?
What are the key driving factors of the Global ATM market?
What are the risks and challenges the companies will have to face in the forecast period?
What are the emerging trends, and how will they influence market growth?
What are the opportunities for expansion of the global ATM market?
Which region is expected to dominate the market during the forecast period?

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