Automated Teller Machine (ATM) Market

Global Automated Teller Machine (ATM) Market Size (2024 to 2029)

The market value of the Automated Teller Machine (ATM) market is predicted to reach USD 22.78 billion in 2024 and USD 29.35 billion by 2029, growing at a CAGR of 5.2% during the forecast period.

MARKET DRIVERS

Improved security mechanisms, such as biometric authentication and OTP (One-Time Password) services, to prevent fraudulent transactions are some of the major driving factors of the Automated Teller Machine (ATM) market's growth rate.

Another major driving factor of the Automated Teller Machine (ATM) market was a rise in urbanization and digitalization in both the emerging as well as developed economies, propels the growth of revenue of the Automated Teller Machine (ATM) market. An increase in the preference of customers towards digital payment solutions such as online and mobile banking, digital wallets, and bitcoin transactions are some of the growth-supporting factors of the market of Automated Teller Machine (ATM) revenue rate.

Another major growth driving factor of the Automated Teller Machine (ATM) market was the increasing technological advancements such as intelligent anti-ATM skimming devices, which will help monitor the systems for the illegally mounted intrusion of the mechanisms and also help safeguard the card and pin data theft. Increasing government initiatives from several countries to promote cash as an essential payment instrument for day-to-day transactions and rising preference for cardless ATM transactions are also some of the major driving factors that promote the growth of the market of Automated Teller Machine (ATM) revenue rate during the forecast period.

MARKET RESTRAINTS

Rising importance for alternative payments is one of the major restraint which hinders the growth of the Automated Teller Machine (ATM) Market. An increase in the number of POS terminals is also one of the major restraints that hinders the growth of the Automated Teller Machine (ATM) Market. Another major restraint that affected the growth of the market was the lack of security standards.

Impact of COVID-19 on the Global Automated Teller Machine ATM Market

As we all know, due to the COVID-19 pandemic, most businesses have faced financial crisis due to the lockdown situations imposed by the government authorities. The ATM market also faced a huge financial crisis during the COVID-19 pandemic, and according to the analysis, the market will reach impeccable growth in the upcoming years.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Automated Teller Machine (ATM) Market Analysis By Type

The Automated Teller Machine (ATM) market is segmented into conventional ATMs, Brown-Label ATMs, white-label ATMs, Smart ATMs, and cash dispensers. The conventional type ATM segment holds the major share of the market due to the growing use of cashless payment instruments. This segment is expected to dominate during the forecast period.

Global Automated Teller Machine (ATM) Market Analysis By Solution

The Automated Teller Machine (ATM) market is segmented into two types, namely deployment solutions and managed services. However, among these, the deployment solution segment is further bifurcated into onsite ATMs, offsite ATMs, worksite ATMs, and mobile ATMs. Among these segments, the offsite ATM segment holds the major share of the market and is expected to hold dominance during the forecast period since there is a quantitative increase in the number of banks in rural areas with ATM facilities and also increasing in financial initiatives by various government authorities. Furthermore, cashless payment instruments such as debit cards or credit cards at the point of sale, in which cash remains the preferred mode of payment for customers’ day-to-day small-value transactions, are available.

REGIONAL ANALYSIS

Asia Pacific region holds the major share of the market due to factors such as the rising deployment of ATMs predominantly in developing economies such as India and China, which helps the growth of the market of Automated Teller Machines (ATM) in the Asia Pacific region. Furthermore, the increasing investments by the major key players and the increasing need to serve the large unbanked population across the region are also one of the major driving factors that propel the growth of the Automated Teller Machines (ATM) market in the Asia Pacific region. This Asia Pacific region is expected to hold the dominance during the forecast period.

North American region holds the second largest share of the market of Automated Teller Machines (ATM) owing to the growing demand for interactive machines and also the managed services in the financial sector, which are helping the market of Automated Teller Machine (ATM) to grow further in the North America region. The Europe region is expected to increase the market value of Automated Teller Machines (ATMs) owing to increasing consumer demand and rising government support for electronic banking. The rise in product innovation from various companies propels the growth of the market in the Europe region.

KEY PLAYERS IN THE GLOBAL AUTOMATED TELLER MACHINE (ATM) MARKET

Some of the key market players in the Automated Teller Machine (ATM) market include Fujitsu Ltd, GRG Banking Equipment Co. Ltd., Hess Cash Systems GmbH, Diebold Nixdorf, Incorporated NCR Corporation, Euronet Worldwide Incorporation, NHAUSA, NCR Corporation, Source Technologies, Triton Systems of Delaware LLC, and others.

DETAILED SEGMENTATION OF THE GLOBAL AUTOMATED TELLER MACHINE (ATM) MARKET INCLUDED IN THIS REPORT

The global Automated Teller Machine (ATM) market is segmented based on type, solution, and Region.

By Type

• Conventional Atms              

• Brown Label Atms

• White Label ATMs

• Smart Atms            

• Cash Dispensers   

By Solution

• Deployment Solution         

• Managed Services

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus