Market Research Report
Automated Teller Machine Market By Solution (Deployment Solution, and Managed Services) and Type: Global Opportunity Analysis and Industry Forecast, 2020-2027
|Published by||Allied Market Research||Product code||948578|
|Published||Content info||255 Pages
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|Automated Teller Machine Market By Solution (Deployment Solution, and Managed Services) and Type: Global Opportunity Analysis and Industry Forecast, 2020-2027|
|Published: May 1, 2020||Content info: 255 Pages||
Automated Teller Machine Market By Solution (Deployment Solution (Onsite ATMs, Offsite ATMs, Worksite ATMs, and Mobile ATMs), and Managed Services) and Type (Conventional ATMs, Brown Label ATMs, White Label ATMs, Smart ATMs, and Cash Dispensers): Global Opportunity Analysis and Industry Forecast, 2020-2027.
Automatic teller machine (ATM) was introduced in developed countries during the late 70s. This cash dispenser helps customers conduct a wide array of financial transactions such as cash withdrawal, fund transfer, and deposits. Smart ATMs have played a considerable role in generating revenue for the ATM market in the developing countries such as India and South Korea by integrating value-added services and help in building customer loyalty. Recent technological advancements are enabling financial transactions to be processed over wireless devices have boosted the growth of the global ATM market.
According to the Mercury Processing International Company, provider of payment solutions, announced on May 22, 2019, there has been consistent growth in number of ATMs in Europe. Apart from cash dispensing and deposits, the demand for ATMs is further rising in Europe, owing to the fact that these machines are used as a medium for selling and handling paper-based products such as tickets, wireless phone recharge cards, and financial products. Moreover, they enable cardholders to withdraw money by using smartphones, which significantly contributes toward the growth of the market.
Increase in security standards, technological advancements, and introduction of smart ATMs fuel the growth of the market. However, rise in penetration of online banking has led to decrease in deployment of ATM globally, which restrains the growth of the market. Conversely, rise in number of ATMs in rural areas and emergence of new technologies in banking in the ATM industry are expected to provide lucrative opportunities for the growth of the market.
The global ATM market is segmented into solution, type, application, and region. In terms of solution, the market is fragmented into deployment solutions, and managed services. Based on deployment solutions, the market is further bifurcated into onsite ATMs, offsite ATMs, worksite ATMs, and mobile ATMs. On the basis of type, it is categorized into conventional ATMs, brown label ATMs, white label ATMs, smart ATMs, and cash dispensers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
The key players profiled in the ATM market analysis are The key players profiled in the ATM market analysis are Diebold Nixdorf, Incorporated NCR Corporation, Euronet Worldwide Incorporation, Fujitsu Ltd, GRG Banking Equipment Co. Ltd., Hess Cash Systems GmbH, NHAUSA, NCR Corporation, Source Technologies, and Triton Systems of Delaware LLC. These key players have adopted various strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to increase their market penetration and strengthen their position in the industry.
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