The global ATM market is expected
to reach USD 24.92 billion by 2022, according to a new study by Grand View
Research, Inc. Rising demand for automated wireless communication devices along
with growing security standards are estimated to drive the industry.
Enhanced
security standards for safer online, and physical financial transactions has
led to a significant rise in use of these services. Further, continuation of
strict security standards and safer modes of financial transactions are
expected to have a substantial impact on the industry growth.
Automation
of the basic financial transactions and technological advancements increasing
at alarming rate would increase mobile transcations among the customers.
Linkage of ATMs with wiireless devices would facilitate the customers to
complete the transcations securely.
Rising
competition amongst the banks to increase the penetration, would lead to its
huge installation base, thus offering lucrative growth opportunities for the
industry. In order to reduce the frauds, manufacturers and financial
institutions are opting for anti-skimming, biometric devices, and voice
recognition systems.
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Further key findings from the study suggest:
- ATM deployment solutions industry accounted for over 70% of the overall revenue in 2014. They comprise installed machines at varied locations such as worksite, onsite, offsite and mobile segment. The deployment revenue comprises of installed machines and services as well as its maintenance. Rise in installation base and increasing maintenance activities are estimated to drive segment growth.
- ATM managed services market is estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from 2015 to 2022. It contributes significantly towards strengthening the infrastructure for multichannel delivery for better customer retention, acquisition and cross selling opportunities.
- North America ATM market dominated in terms of revenue in 2014, and is expected to significantly lose share by 2022. Adoption of smart machines across countries such as U.S. is estimated to impel growth across this region. Increasing trend of trading in digital currency is driving demand for Bitcoin ATMs across the region.
- Asia Pacific ATM industry is expected to grow at a substantial growth rate of over 12% from 2015 to 2022. Rising demand for self-service machines and ever increasing customer base across regions such as China and India are estimated to drive the regional demand over the next seven years. Additionally, increasing trend of outsourcing its related activities by financial institutions is projected to positively impact growth across this region.
- ATM market share is occupied by companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships with the manufacturers are some of the notable strategies adopted by the vendors. For instance, In October 2014, Diebold launched a new 5500 series of with advanced security features such as biometric finger-vein readers and security camera provisioning.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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