USD 20.39 billion
ATM Market Size, Share, Growth Analysis, By Type(White Label, Brown Label), By Solution(Deployment (Onsite, Offsite, Worksite, Mobile)), By Application(Commercial, Government), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2179 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
90
|Figures:
76
ATM Market Insights
ATM Market size was valued at USD 20.39 billion in 2022 and is poised to grow from USD 21.39 billion in 2023 to USD 32.9 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).
Automated teller machines (ATMs) offer a reliable easy interface for cash withdrawal and features such as ease of fund transfer, withdrawal, deposit, and 24x7 availability of cash. With advancements in technology, customers seek secure, faster, more convenient, and reliable means of accessing cash, favoring the widespread adoption of ATMs globally. The improvement in technology of the machinery is likely to support the rise of automated teller machines demand. It allows consumers to complete different tasks related to the banking through secure passage.
Furthermore, improved security measures, including biometric and one-time password authentication systems to prevent fraud, and the advent of Smart ATMs for users with special needs contribute to ATM market growth. The increase in demand for automation in the banking sector in several developed and emerging countries is also expected to fuel the demand for ATMs.
US ATM Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
White label
Fastest Growth
White label
Growth Rate
4.9% CAGR
Global ATM Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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ATM Market Segmental Analysis
The Global ATM Market is segmented based on Type, Solution, Application and Region. Based on Type ATM Market is categorized into White label and Brown label. The Solution segment is bifurcated into Deployment and Managed services. The Deployment is further segmented into Onsite, Offsite, Worksite and Mobile. Application segment is classified based on Commercial and Government banks. Based on the region ATM Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
ATM Market Analysis by Type
Post relaxation of COVID-19 protocols & border restrictions globally, the number of travelers visiting the foreign nations has increased exponentially. The rise in tourism will increase the need for in-hand cash for the passengers across the countries, thus creating market growth opportunities. With scalability advantages offered through the deployment of white label ATMs as the operational activities are handled by non-banking entities, bankers can focus on expanding their network to cater to the growing demand.
ATM Market Analysis by Solution
ATM deployment solutions dominate the total market, registering over 50% of the overall industry in 2021. The deployment of an ATM consists of installing, setting up, testing, running, and implementing an ATM. The segment is further bifurcated into onsite, offsite, worksite, and mobile ATMs.
Onsite ATMs are located in or beside the bank, where both the physical branch and the ATM can be used. These ATMs reduce the work pressure of bank employees, avoiding long queues in bank premises for withdrawals, cash deposits, and transfers. These ATMs also reduce the probability of errors while withdrawals and deposits and allow banks to have smooth financial transactions. These factors are estimated to increase the demand for onsite ATMs in the near future.
ATM Market Analysis by Application
The government sector in the ATM market is estimated to exhibit a significant CAGR during 2021 to 2028. The introduction of new policies from the governing authorities to develop the industries safety & operationality standards will boost the industry growth.
Global ATM Market By Type, 2021 (%)
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ATM Market Regional Insights
The Asia Pacific regional ATM market is expected to register the highest CAGR during the forecast period as it held the largest global ATM market share in 2021. The growth of the regional ATM market is attributed to the rising deployment of ATMs, predominantly in developing countries like China and India. Lack of awareness about digital payment solutions in most economies in the region also strengthens the role of ATMs for cash-based and other financial transactions in this region. Of the over three million ATMs installed globally, the maximum is installed in the Asia Pacific. Furthermore, the need to serve the large unbanked population across countries such as China, India, and Japan, as well as emerging markets across Vietnam and Indonesia is expected to fuel the demand for ATMs in the region.
Global ATM Market By Geography, 2022 - 2028
- Largest
- Fastest
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ATM Market Dynamics
ATM Market Driver
- The major factor driving the industry is the competition among the banks to provide service to customers' convenience.
- In developing markets, such as India, China, and Brazil, there has been a significant surge in opening new bank accounts. 200 million plus new bank accounts were opened in India in the last three years.
- Creating presence around city is very important for banks to attract customers. But it is not possible nor cost-efficient to set up branches around all the locations. Hence, the ATM industry is driven by this factor, as it does not require heavy real-estates nor other related costs.
- Deployment of low-cost ATMs and cheaper IP-based communication by IADs push the initial investment costs down.
- Convenient location of ATMs ranks high among the needs of consumers and has propelled the growth of off-site ATMs.
ATM Market Restraint
- Including embedded cameras, GPS systems as well as seismic and heat sensors, leading to additional cost for banks. Moreover, cost of new technology for updating ATMs has become a huge issue. For instance, upgradation of operating systems from Windows XP to Windows 7 or 10 across all ATMs.
- The proliferation of payment options such as debit cards, credit cards, mobile payments, and online transactions, may result in reduced need for cash in the near future.
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ATM Market Competitive Landscape
The ATM Market is competitive, with the presence of several players in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the ATM market are Diebold Inc., Wincor Nixdorf AG, NCR Corporation, Triton Systems of Delaware, Hitachi-Omron Terminal Solutions, GRG Banking Equipment Co. Ltd., OKI Electric Industry co. Ltd., Nautilus Hyosung Corporation, HESS Cash Systems GmbH & Co KG, Fujitsu Ltd., Euronet Worldwide and Brink's Company are among the major contributors in the ATM market.
ATM Market Top Player’s Company Profiles
- Diebold Inc.
- NCR Corporation
- GRG Banking Equipment Co., Ltd.
- Fujitsu Limited
- Hitachi, Ltd.
- Nautilus Hyosung Corporation
- Wincor Nixdorf AG
- Euronet Worldwide, Inc.
- Triton Systems of Delaware
- OKI Electric Industry Co., Ltd.
- Hess Cash Systems GmbH & Co. KG
- Hantle Inc.
- Fujian Newland Payment Technology Co., Ltd.
- Fujian Landi Commercial Equipment Co., Ltd.
- KingTeller Technology Inc.
- Shenzhen Zijin Smart Equipment Co., Ltd.
- Shenzhen Yihua Computer Co., Ltd.
- GRGBanking Equipment Co., Ltd.
- Eastcompeace Technology Co., Ltd.
- Perto S.A.
ATM Market Recent Developments
- In October 2020, NCR Corporation announced the launch of the NCR Activate Enterprise NextGen, NCR’s next-generation ATM software platform that enables banks to deploy customer experiences such as contactless technology and video teller collaboration in a simple manner.
- In 2020, Diebold Nixdorf signed a contract to provide 1,800 ATMs to the largest bank in Saudi Arabia and 500 ATMs to a new customer in Egypt. The companies are also paying attention to fortifying their machines against any possible threat of fraud or break-ins.
ATM Key Market Trends
- Self Service ATM is a breakthrough technology that combines multiple features into a single machine. Serves as a one stop solution for functions such as cash deposit, withdrawal, cash recycling, check deposit, coin dispense, internet banking, banking products and solutions.
- Multi-functional ATMs with value-added services, such as bill payment, ticketing, mobile recharges, etc., are projected to drive major innovations as well. These services are expected to enhance the customer experience by offering convenience and availability.
ATM Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global ATM market analysis, in developing markets, such as India, China, and Brazil, there has been a significant surge in opening new bank accounts. 200 million plus new bank accounts were opened in India in the last three years. However, proliferation of payment options such as debit cards, credit cards, mobile payments, and online transactions, may result in reduced need for cash in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 20.39 billion |
| Market size value in 2031 | USD 32.9 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on ATM Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on ATM Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the ATM Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the ATM Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the ATM Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the ATM Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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