ATM is abbreviated as automated teller machine or automatic banking machine (ABM) is an electronic machinery that allows customers perform financial transactions in a public area like obtaining account information, cash withdrawals, transfer funds, or deposits anywhere without interaction with bank staff. The customer is recognized by inserting ATM card with a magnetic stripe or unique card number and expiration date as security information. The ATM Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
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Growing demand for automated wireless communication devices, increasing security standards, comfortable financial transactions, and linkage of ATMs with wireless devices are documented as major factors of ATM Market that are estimated to enhance the growth in the years to come. However, dispensing of extra cash, growing misuse of ATM pin, and tempering with ATM cards are the factors that may restrain overall market in the coming years. ATM Market is segmented based on type, solution, application, and region.
Cash dispensers, conventional/ bank ATMs, smart ATMs, brown label ATMs, and white label ATMs are the types that could be explored in ATM in the forecast period. Managed services and deployment solutions are the solutions that could be explored in ATM in the forecast period. Deployment solutions comprise mobile ATMs, onsite ATMs, worksite ATMs, and offsite ATMs. Deployment solution sector accounted for the substantial market share of ATM and is estimated to lead the overall market in the coming years. The market may be categorized based on applications like deposits, withdrawals, transfers, and others.
Globally, Asia Pacific accounted for the substantial market share of ATM and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of untapped opportunities, developing economic conditions, and high demand for enhanced interactive machines. The developing countries like India and China are the major consumers of ATM in this region.
Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at fastest pace with the highest CAGR in the foremost period.
The key players of ATM Market are Euronet Worldwide, Inc., Diebold, Inc., Fujitsu Ltd., NCR Corporation, Nautilus Hyosung Corporation, Wincor Nixdorf AG, HESS Cash Systems GmbH & Co KG, Triton Systems of Delaware, LLC, Hitachi-Omron Terminal Solutions, Corporation, and GRG Banking Equipment Co. Ltd. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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