Cardless ATM Market Size, Share, and Growth Analysis, By Location (On-site ATM, Off-site ATM), By Technology (Near-field Communication (NFC), Quick Response (QR) Codes), By End User, By Region - Industry Forecast 2025-2032

Global Cardless ATM Market size was valued at USD 3.2 billion in 2023 and is poised to grow from USD 3.57 billion in 2024 to USD 8.52 billion by 2032, growing at a CAGR of 11.5% during the forecast period (2025-2032).

The market for cardless ATMs is experiencing significant growth driven by the rising demand for mobile banking, the widespread adoption of contactless transactions, and the expansion of ATM networks in developing regions. As smartphones proliferate, banks are seamlessly integrating mobile applications with ATM systems to facilitate cardless transactions. The increasing consumer preference for touch-free financial interactions further supports this trend. Emerging markets, particularly in Asia-Pacific, Africa, and Latin America, are enhancing their banking infrastructure, leading to greater demand for cardless ATMs. Concurrently, supportive government and regulatory initiatives foster the shift towards digital banking. However, challenges such as limited consumer awareness, high implementation costs, cybersecurity risks, and inadequate rural infrastructure may hinder market penetration and growth prospects.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cardless ATM market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Cardless ATM Market Segments Analysis

Global Cardless ATM Market is segmented by Location, Technology, End User and region. Based on Location, the market is segmented into On-site ATM, Off-site ATM and Others. Based on Technology, the market is segmented into Near-field Communication (NFC), Quick Response (QR) Codes and Biometric Verification. Based on End User, the market is segmented into Bank and Financial Institutions and Independent ATM Deployer. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Cardless ATM Market

The global cardless ATM market is primarily driven by their enhanced security features, which surpass those of conventional card-based systems and effectively address prevalent fraud issues such as card skimming and cloning. By removing the reliance on physical cards, cardless ATMs minimize the risks associated with magnetic strips and chip transactions. Utilizing advanced authentication techniques-such as biometrics, mobile tokens, and one-time passcodes-these innovative systems significantly elevate security measures. As a result, the demand for cardless ATMs is projected to grow, positively influencing the overall market outlook and encouraging widespread adoption among consumers and financial institutions alike.

Restraints in the Global Cardless ATM Market

Despite advancements in technology, consumer awareness regarding cardless ATM capabilities is limited in numerous areas. A significant portion of users lacks familiarity with mobile withdrawal methods, QR code usage, and biometric access at ATMs. This apprehension towards new technologies and the assumption that these processes are complicated can impede widespread acceptance. Additionally, older generations and individuals in rural settings tend to be particularly hesitant to transition from conventional ATM cards, which is anticipated to restrict the growth of cardless ATMs, as indicated by current market projections for this sector.

Market Trends of the Global Cardless ATM Market

The Global Cardless ATM market is witnessing a significant trend towards the deployment of cloud-based infrastructure, as banks and ATM manufacturers recognize the need for enhanced operational efficiency and customer engagement. This shift facilitates real-time transaction processing, centralized monitoring, and improved security measures, allowing financial institutions to respond swiftly to evolving customer expectations and regulatory frameworks. Cloud integration supports seamless mobile app connectivity, biometric authentication, and advanced fraud detection, ultimately enhancing user convenience and trust. As organizations embrace these technologies, the market is poised for rapid growth, driven by the demand for innovative, customer-centric banking solutions in an increasingly digital landscape.