The global ATM market would reach $21.9 billion by 2020, registering a CAGR of 7.6% during the forecast period 2014-2020.
(PRWEB UK) 20 April 2015
According to new report by Allied Market Research titled "Global ATM Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020", the global ATM market would reach $21.9 billion by 2020, registering a CAGR of 7.6% during the forecast period 2014-2020. The integration of wireless communicating devices (smart phones) with ATM machines reduces ATM frauds that arise due to card skimming, a factor that prominently drives the adoption of Smart ATMs which is consequentially spurring the global ATM market. The North American region accounted for ~68,000 million of ATM transactions in 2013, which clearly shows the widespread adoption of ATM services in the developed regions. Unlike developed countries, the ATM market in Asia Pacific is in its developing phase. China, for instance, has tripled its ATM installations from 130,000 in 2007 to 339,000 in 2011.
To view the report, visit the website at: http://www.alliedmarketresearch.com/automated-teller-machine-ATM-market
The diverse services and offerings in financial transactions are the major drivers for the global ATM market. Thefts, online frauds, and network connectivity issues while using mobile ATMs & smart ATMs, are some of the major threats to the growth of the ATM market. The growing use of solar powered ATM machines is reducing the cost of ATMs, leading to minimal operational cost. According to the "Federal Reserve System", ATM market in developed countries such as U.S, UK, Canada and France has attained state of maturity, while the "Reserve Bank of India" forecasts a rapid growth of ATM market in emerging countries.
Deployment of ATMs at different locations such as Onsite, Offsite, Worksite and the accessibility to Mobile ATMs have facilitated 24*7 availability of banking services to the customers that creates an avenue for promotional activities to the banks concerned. Brown label ATM, allows the banks to focus on their core business, as the hardware and its lease is owned by third party vendors, and the cash management & network connectivity is owned by the bank, eventually reducing the operational cost of the ATM's.
The introduction of white label ATMs in the developing countries would propel the ATM markets in the years ahead. As an example, the Independent ATM deployer (IAD) viz., Tata Communications Payment Solutions Limited has launched a white label ATM - "Indicash", to provide better banking services to the customers. IADs in the North American region account for more than 50% of ATMs. Whereas, in Western Europe, Asia Pacific, and LAMEA, it accounts for about 12%. The widespread installation of ATMs around the globe has led to a need for managed services. Therefore, different market players such as NCR Corporation, Wincor Nixdorf, Fujitsu and Diebold Incorporation are capitalizing on the prevailing market opportunities by offering managed services for ATMs.
Key findings of the study:
Global market for ATM deployment solutions is gaining momentum with offsite ATMs to provide major growth during the forecast period (2014 - 2020)
White label ATM Market will grow at a CAGR of 11.3% during the forecast period
Smart ATMs would be an area of interest, as it is expected to grow at the fastest pace during 2014 to 2020
Asia-Pacific is the most lucrative market, both in terms of deployment and revenue
The emerging markets would largely contribute in terms of revenue towards the growth of the global ATM market by 2020
ATM manufacturers and managed service providers are shifting towards White label ATMs and Smart ATMs in order to provide secured ATM transactions and improve the efficiency of the ATMs, resulting in faster transactions. In 2014, Fujitsu introduced a Smart ATM in the European market, which facilitates operational efficiency. NCR Corporation, one among the leading global ATM manufacturers, partnered with ING-DiBa in August 18, 2014, to provide enhanced security while performing financial transactions. The companies profiled in the report are Diebold Incorporation, NCR Corporation, Fujitsu, Wincor Nixdorf, Euronet Worldwide Incorporation, Triton Systems of Delaware LLC, GRG Banking, Nautilus Hyosung, Hitachi Omron Terminal Solutions and Hess Cash Systems GmbH and Co.
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