ATM Industry Overview
The global ATM market size is expected to reach USD 29.89 billion by 2028 and is projected to register a compound annual growth rate (CAGR) of 4.9% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. 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.
ATM Market Segmentation
Grand View Research has segmented the global ATM market based on solution and region:
Based on the Solution Insights, the 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 mobile ATM segment is anticipated to witness a substantial CAGR of over 4.9% from 2021 to 2028. 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.
- Managed services allow financial institutions to move their non-core activities to a specialized and trained service provider and concentrate on their core financial businesses.
ATM Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are adopting strategies such as mergers and acquisitions, product portfolio expansion, contracts, and geographical expansion to increase their market penetration and strengthen their position in the industry.
Some prominent players in the global ATM market include:
- Diebold Nixdorf
- Fujitsu Limited
- G4S plc
- GRG Banking
- Hitachi-Omron Terminal Solutions, Corp. (Hitachi)
- NCR Corporation
- OKI Electric Industry Co., Ltd.
- Guangzhou King Teller Technology Co. Ltd
Order a free sample PDF of the ATM Market Intelligence Study, published by Grand View Research.
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