According to a new report published by Allied Market Research, titled, "Virtual Teller Machine (VTM) Market," The virtual teller machine (vtm) market was valued at $1.6 billion in 2022, and is estimated to reach $5 billion by 2032, growing at a CAGR of 12.5% from 2023 to 2032.
Increase in demand for cost-effective and secure solutions and surge in adoption of automation solutions in the banking sector is boosting the growth of the global virtual teller machine (VTM) market. In addition, increase in adoption of multifunctionality features in VTMs is positively impacts growth of the virtual teller machine (VTM) market. However, security issues and privacy concerns and high implementation cost is hampering the virtual teller machine (VTM) market growth. On the contrary, increase in adoption of video banking technology is expected to offer remunerative opportunities for expansion of the virtual teller machine (VTM) market during the forecast period.
The virtual teller machine (VTM) market is segmented on the basis of by offering, deployment, provider, and region. On the basis of offering, the market is categorized into hardware, software and service. On the basis of deployment, the market is fragmented into on-site, off-site, and others. By provider, it is classified into bank and financial institutions and managed service provider. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the virtual teller machine (VTM) market are Huawei Technologies Co., Ltd., Kontron AG, Aurionpro Solutions Ltd, Arman Design, KIOSK Information Systems, REDYREF, Slabb Kiosks, Phoenix Microsystems, NCR Corporation, and Hitachi-Omron Terminal Solutions. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global virtual teller machine (VTM) market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global virtual teller machine (VTM) market trend is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2023 to 2032 is provided to determine the market potential
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
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Possible Customization with this report (with additional cost and timeline talk to the sales executive to know more)
- Industry life cycle assessment, by region
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Technology Trend Analysis
- Consumer Preference and Product Specifications
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Offering
- Hardware
- Software
- Service
By Deployment
By Provider
- Bank and Financial Institutions
- Managed Service Provider
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Aurionpro Solutions Ltd
- NCR Corporation
- Kontron AG
- REDYREF
- Hitachi-Omron Terminal Solutions
- Arman Design
- KIOSK Information Systems
- Slabb Kiosks
- Diebold Nixdorf
- Huawei Technologies Co., Ltd.