PORTLAND, Oregon and PUNE, India, November 21, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, "World ATM Market - Opportunity Analysis and Industry Forecast, 2014 - 2020", forecasts that the world ATM market is expected to garner revenue of $21.9 billion by 2020, registering a CAGR of 7.7% from 2015 to 2020. Integration of wireless communicating devices (smart phones) with ATM machines has reduced ATM frauds arising due to card skimming. This factor has significantly fostered the adoption of smart ATMs, which has consequently fuelled the growth of the world ATM market. According to the Federal Reserve System, the ATM market in developed countries, such as the U.S., the U.K., Canada, and France has attained maturity, while the Reserve Bank of India forecasts a rapid growth of the ATM markets in the emerging countries.
Summary of the ATM Market can be accessed on the website at https://www.alliedmarketresearch.com/automated-teller-machine-ATM-market
Increase in use of solar-powered ATM machines for reducing the operational cost of ATMs has boosted the growth of the market. Similarly, Brown label ATMs allow banks to focus on their core business, as the hardware and its lease is owned by third party vendors, whereas the cash management & network connectivity are managed by the bank, eventually reducing the operational cost of ATMs.
The introduction of white label ATMs in the developing countries would boost the ATM market in future. For instance, an independent ATM deployer (IAD), Tata Communications Payment Solutions Limited, has launched a white label ATM "Indicash" to provide better banking services to customers. In North America, IADs account for more than 50% of overall ATMs. This percentage is quite low in Western Europe, Asia Pacific and LAMEA, where IADs account for about 12% of the overall ATMs.
"Deployment of ATMs at different locations such as Onsite, Offsite, Worksite and the accessibility to Mobile ATMs have facilitated 24*7 availability of banking services to the customers that creates an avenue for promotional activities to the banks concerned. Brown label ATM, allows the banks to focus on their core business, as the hardware and its lease is owned by third party vendors, and the cash management & network connectivity is owned by the bank, eventually reducing the operational cost of the ATM's," states, Gunjan Malani, AMR.
Large-scale installation of ATMs around the globe has increased the need for managed services. Therefore, several market players, such as NCR Corporation, Wincor Nixdorf, Fujitsu, and Diebold Incorporation, focus on capitalizing on the prevailing market opportunities by offering managed services for ATMs. ATM manufacturers and managed service providers are inclined towards white label ATMs and smart ATMs to provide secured ATM transactions and improve the efficiency of ATMs to facilitate faster transactions. In 2014, Fujitsu introduced a smart ATM in the European market, which facilitates operational efficiency. In August 2014, NCR Corporation, one of the leading global ATM manufacturers, partnered with ING-DiBa to provide enhanced security for performing financial transactions.
Key findings of the study:
- The growth of world ATM market would primarily be driven by their increased installation in the markets of APAC and LAMEA, with LAMEA expected to witness the fastest growth during the forecast period
- The market for Smart ATMs, followed by White label ATMs, is expected to register the highest CAGR during the forecast period
- Asia-Pacific is the most lucrative market in terms of deployment and revenue generation
The report outlines the competitive scenario of the world ATM market and provides a comprehensive study of the key strategies adopted by the companies operating in the ATM market. Prominent companies profiled in this report are Diebold Incorporation, NCR Corporation, Fujitsu, Wincor Nixdorf, Euronet Worldwide Incorporation, Triton Systems of Delaware LLC, GRG Banking, Nautilus Hyosung, Hitachi Omron Terminal Solutions, and Hess Cash Systems GmbH & Co.
Summary of Similar Reports can be viewed at: https://www.alliedmarketresearch.com/banking-financial-services-&-insurance-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research