December 04, 2019
According to research report titled ‘ATM Market to 2027 - Global Analysis and Forecasts by Deployment (Brown Label ATM, White Label ATM, and Bank Owned ATM); Type (Cash Deposit, Cash Dispenser, Smart ATM, Others)’ available with Market Study Report LLC, the global ATM market was reckoned to be worth US $18.44 billion in 2018 and is estimated to grow with a CAGR of 10.4% during the period of 2019-2027, hence amassing US $44.18 billion by the year 2027.
Shifting consumer preference for fast cash and advanced banking solutions, especially in emerging economies, coupled with rising number of automated bank branches are the major factors driving the growth of ATM market for the forecast period. Rising adoption of optimized ATM services are paving the way for financial institutions across the globe to provide better customer experience which in turn is boosting the market share. Increasing disposable income and technological advancements in ATM device field are augmenting the expansion of ATM market.
In terms of deployment, ATM market is categorized into white label ATM, brown label ATM, and bank owned ATM. The bank owned ATM segment is further classified into off-site and on-site. As per type, the market is bifurcated into cash dispenser, cash deposit, smart ATMs, and others.
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Considering the geographical landscape, the global ATM market is divided into regions namely, Europe, North America, South America, APAC, and Middle East & Africa. The report cites that the North America ATM market is witnessing a substantial revolution owing to a large consumer base, and escalating investments towards the development of new devices across the region. Moreover, other developed countries are integrating ATM services not only with modern day analytics but also with advanced technologies, which in turn is paving the way for efficient customer data generation, hence bolstering ATM market growth.
The prominent companies operating in ATM market are Diebold Nicdorf, Inc., CMS Info Systems Ltd., Euronet Worldwide, Inc., GRG Banking Equipment Co. Ltd., Fujitsu Ltd., Guangzhou KingTeller Technology Co. Ltd., Hitachi-Omron Terminal Solutions Corp., HESS Cash Systems GmbH & Co., NCR Corp., and Triton Systems.
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