ATM Global Market Report 2024

An ATM, or automated teller machine, is a specialized computer designed for the convenient management of a bank account holder's funds. It serves as a computerized banking terminal that enables consumers to carry out basic transactions without requiring assistance from a branch operator or teller. ATMs offer convenience by allowing customers to perform self-service operations such as deposits, cash withdrawals, bill payments, and account transfers. This accessibility extends to 24/7 banking services through ATMs.

The primary types of ATMs include location-based ATMs and operation-based ATMs. ATMs offer various solutions, including on-site, off-site, work site, and mobile options, and they are classified as white-label, green label, and yellow label. On-site ATMs are situated either within the branch or near the bank's premises, providing customers with the advantage of bypassing long lines and saving time during transactions. ATMs are utilized for different banking applications, including the withdrawal, transfer, and deposit of funds.

The ATM market research report is one of a series of new reports from The Business Research Company that provides ATM statistics, including ATM industry global market size, regional shares, competitors with ATM market share, detailed ATM market segments, market trends and opportunities, and any further data you may need to thrive in the ATM industry. This ATM market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The atm market size has grown steadily in recent years. It will grow from $36.97 billion in 2023 to $38.39 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth observed in the historical period can be attributed to factors such as the increase in cash transactions, the expansion of banking networks, the rise in population and urbanization, the growing emphasis on consumer convenience, and initiatives promoting financial inclusion.

The atm market size is expected to see steady growth in the next few years. It will grow to $44.5 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The anticipated growth in the forecast period can be attributed to trends such as the increasing use of cash, global economic growth, the evolution of banking services, government initiatives and policies, and the adaptation to changing consumer behaviors. Noteworthy trends expected in the forecast period encompass a focus on accessibility and inclusion features, the implementation of cash recycling and deposit automation, remote ATM management and monitoring, the enhancement of user experience through interactive interfaces, and sustainability initiatives in ATM design and operation.

The anticipated growth of the ATM market is driven by the increasing consumer usage of ATMs. Many customers across various countries prefer cash as their primary payment method due to its convenience. With technological advancements, customers seek faster, more reliable, secure, and convenient ways to access cash. ATMs, as self-service vending devices, enable users to conduct banking transactions anytime and anywhere, saving time, money, and effort by reducing transaction costs and improving accuracy and speed. For example, the National Cash Systems report from 2021 revealed that 40% of the U.S. population uses an ATM 8-10 times per month, totaling an average of 300 transactions per month, contributing to the growth of the ATM market.

The increasing number of small businesses is expected to further drive the growth of the ATM market. Small businesses, characterized by their relatively modest size in terms of employees, revenue, and assets, utilize ATMs to offer convenient cash access for customers. Having on-site ATMs helps attract foot traffic, enhance customer service, and allows businesses to efficiently manage cash flow while reducing reliance on traditional banks. A report from the United States Small Business Administration in August 2022 indicated that approximately 1.1 million new small businesses were established between March 2020 and March 2021, underscoring the role of small businesses in propelling the growth of the ATM market.

A recent trend gaining popularity in the ATM market is the introduction of Smart ATMs. These automated teller machines go beyond cash disbursement, incorporating cutting-edge technologies to enhance the customer experience and minimize fraud. An example is Nations Trust Bank in Sri Lanka launching the first Smart ATM in October 2021, powered by technology and innovation to provide a unique banking experience. This Smart ATM enables users to withdraw a preferred mix of currency notes for various transactions, showcasing the evolving capabilities of Smart ATMs.

Major companies in the ATM market are forming partnerships to develop new products and strengthen their market positions. These collaborations enhance innovation, expand service offerings, and improve accessibility by leveraging the strengths of different stakeholders. For instance, in September 2023, Hitachi Payment Services Private Limited partnered with the National Payments Corporation of India to introduce India's first UPI-ATM, named Hitachi Money Spot UPI ATM. Operating on Android OS, this White Label ATM offers cardless cash withdrawals through the UPI app, focusing on promoting financial inclusion in areas with limited traditional banking infrastructure. This collaboration emphasizes the seamless integration of UPI convenience into traditional ATMs, providing quick access to cash without the need for a physical card.

In August 2021, NCR Corporation announced the acquisition of LibertyX, a move expected to enable NCR to offer digital currency solutions such as buying and selling cryptocurrencies, cross-border remittances, and accepting digital currency payments via digital and physical channels. This acquisition further expands NCR Corporation's capabilities in the evolving landscape of digital currencies. LibertyX, a U.S.-based software company, specializes in business-related products such as ATMs, sale terminals, and scanners.

Major companies operating in the atm market report are IBM Corporation, Tata Consultancy Services Limited, Atlas ATM, NCR Corporation, Diebold Nixdorf, Wincor Nixdorf, Euronet Worldwide Inc., Hyosung Corporation, BancTec Corporation, GRG Banking Equipment Co. Ltd., Fujitsu Frontech Ltd., Eastcompeace, Nautilus Hyosung Corporation, Oki Electric Industry Co. Ltd., United Security Financial LLC, Forbes Technosys Ltd., KingTeller, Hantle, Triton Systems of Delaware LLC, HCL Infosystems Ltd., EFT Networks Inc., RapidCash ATM Ltd., Hitachi-Omron Terminal Solutions Corporation, riton Systems of Delaware LLC, G4S PLC, Lipi Data Systems Ltd., Itautec, Acentic Innovative Technologies, Shenzhen Yihua Computer, HESS Cash Systems GmbH & Co KG

Asia-Pacific was the largest region in the ATM market in 2023. The regions covered in the atm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the atm market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The ATM market consists of revenues earned by entities by providing services such as balance enquiry, cheque deposit, updating PIN, and money transfer. The market value includes the value of related goods sold by the service provider or included within the service offering. The ATM market also includes sales of card reader, display screen, receipt printer, and cash dispenser. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

ATM Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on atm market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for atm ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The atm market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By ATM Type: Location Based ATM; Operation Based ATM
• 2) By Solution: On Site; Off Site; Work Site; Mobile
• 3) By Operation: White Label; Green Label; Yellow Label
• 4) By Application: Withdrawal; Transfer; Deposits
• Companies Mentioned: IBM Corporation; Tata Consultancy Services Limited; Atlas ATM; NCR Corporation; Diebold Nixdorf
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.