- Opportunity and Forecast, 2016-2025
Automated teller machines (ATM) facilitate banking and financial services, including cash withdrawal, funds transfer, bill payment, and mini statements. A plastic ATM card with a magnetic tape or a plastic smart card with a chip is used by the customer with an identification provided by a personal identification number. ATMs provide flexibility, convenience, and save time and cost to carry out transactions. Banks are providing ATM services to attract customers by serving them outside bank areas. Technological advancements have enabled smartphones and ATMs to work in collaboration to provide a better user experience.
The global ATM market is driven by advantages provided by these machines, such as high degree of convenience and flexibility, and rise in demand for self-service. However, security concerns may limit growth of this industry. Technological innovation, replacement demand, and penetration in emerging economies create new growth opportunities in the market.
Detailed segmentation of the global ATM market is offered based on solution and geography. Based on solution, the market is bifurcated into deployment and managed services. The deployment segment is further classified into onsite, offsite, mobile, and worksite. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Key players operating in the industry are Diebold Inc., Euronet, Fujitsu, GRG Banking, Hess Cash Systems, Hitachi-Omron, Nautilus Hyosung, NCR, Triton Systems, and Wincor Nixdorf. These market players have adopted collaborations, expansion, mergers & acquisitions, new product launches, partnerships, joint ventures, and other strategies to gain a strong foothold and sustain in the market.
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