The global ATM market size is expected to be worth around US$ 39.89 billion by 2030, according to a new report by Vision Research Reports.
The global ATM market size was valued at US$ 25.18 billion in 2020 and is anticipated to grow at a CAGR of 10.9% during forecast period 2021 to 2030.
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An Automated Teller Machine (ATM) is a specialized computer that acts as a digital banking outlet for customers to make basic banking transactions using debit and credit cards. An ATM typically comprises a keypad, dispenser, printer, card reader, and display screen to prompt the user through each step of the transaction. Some ATMs handle money and act solely as cash dispensers while some execute various tasks as fund transfer, check and cash deposit, and bill payment.
These machines also allow users to change card passwords and view their bank account balances. Increasing demand for automated systems in developing countries is expected to positively influence the global ATM installed base over the forecast period. However, the market is projected to lose momentum due to a significant increase in the adoption of mobile and internet banking applications.
The rising demand for automation in the banking sector in several developed and emerging countries is expected to fuel the demand for ATMs in the near future. Increased adoption of advanced technologies and digital infrastructure in the banking sector, coupled with the rising demand for quick cash withdrawal by the user, is a major factor expected to drive the market growth. The increasing deployment of ATMs in organizations and financial institutions in developing economies is also anticipated to boost the demand for ATMs over the forecast period.
Based on solution, the automated teller machine (ATM) market is segmented into deployment and managed service. ATM deployment solutions dominate the overall market, accounting for over 50% of the overall industry in 2020. 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.
The mobile ATM segment is anticipated to witness a substantial CAGR of over 14.9% from 2021 to 2030. A mobile ATM is a movable ATM system that is strategically placed to reduce traffic in high-volume locations such as trade fairs, social gatherings, and sports events. Mobile ATMs provide flexibility and enhance branding & promotion for banking institutions.
The Asia Pacific regional automated teller machine market is expected to register a 10.9% CAGR during the forecast period. The growth of the regional 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.
|Market Size||US$ 39.89 billion by 2030|
|Growth Rate||CAGR of 10.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Solution, Region|
|Companies Mentioned||Diebold Nixdorf, Fujitsu Limited, G4S plc, GRG Banking, Hitachi-Omron Terminal Solutions, Corp. (Hitachi), NCR Corporation, OKI Electric Industry Co., Ltd., Guangzhou KingTeller Technology Co. Ltd.|
- Diebold Nixdorf
- Fujitsu Limited
- G4S plc
- GRG Banking
- Hitachi-Omron Terminal Solutions, Corp. (Hitachi)
- NCR Corporation
- OKI Electric Industry Co., Ltd.
- Guangzhou KingTeller Technology Co. Ltd.
- Solution Outlook
- Onsite ATM
- Offsite ATM
- Worksite ATM
- Mobile ATM
- Managed Service
- Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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