ATM Market revenue to cross USD 25 Bn by 2027: Global Market Insights Inc.

SELBYVILLE, Del., Jan. 11, 2022 /PRNewswire/ -- The ATM market size is anticipated to record a valuation of USD 25 billion by 2027, according to the most recent study by Global Market Insights Inc. The market growth can be attributed to the growing demand for automation and digitalization in the banking sector.

ATM managed services assist financial institutions in maintaining the smooth execution of their programs. This allows for increased operational efficiency, enables staff time to focus on productive activities, and improves cardholder satisfaction. Managed services enable financial institutions to transfer non-core functions to a specialized service provider, increasing their core financial operations capabilities. Managed services help financial institutions enhance their network for multichannel distribution and improved cross-selling prospects. Outsourcing managed services to a service provider has several advantages including lower infrastructure capital expenditures, increased operational profitability, compliance with new regulatory standards, and disaster recovery.

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Residential locations are witnessing a surge in the deployment of ATMs as it helps to reduce travelling cost by offering banking solutions within the proximity of the user's residence. The multipurpose capabilities of ATMs help customers make bill payments, transfer cash, and apply for personal loan. The users can avail these services without the intervention of the operator in their preferred languages, boosting the ATM market expansion. Residential ATMs reduce the workload of bank staff and minimize queues in bank premises.

The increasing deployment of ATMs, particularly in emerging countries, such as Mexico and Brazil, is credited to the market progression in Latin America. In this region, the lack of understanding about digital payment alternatives in most economies will enhance the significance of ATMs for cash-based and other financial activities. Due to the increased need for dynamic machines and managed services in the financial industry, the Latin America market provides growth prospects. This region is experiencing rapid growth as a result of its cash-based economy and government support for electronic banking. Implementing biometric technology in ATMs with intuitive touch displays to allow 24X7 cash availability will increase industry revenue.

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Some major findings of the automated teller machine (ATM) market report are:

• The ATM market demand is attributed to the integration of biometrics technologies that enable touchscreen multilingual interface for easy interaction. This authentication mechanism provides a high level of security, allowing customers to make withdrawals without manually entering a PIN, resulting in a frictionless transaction experience.
• The increasing demand for currency exchange by international travelers is spurring the adoption of ATM machines. These devices provide travelers with convenient solutions through their advanced capabilities such as Dynamic Currency Conversion (DCC). They accelerate transaction transparency, and customers can see the exact amount of their withdrawal in their home currency.
• Mobile ATM's offer easy access to banking services in high traffic and population density areas, stimulating the industry growth. Mobility of the ATM is beneficial for owners and helps in the reduction of additional expenses required in the installation and maintenance of the machine. It will help in industry progression as it helps to attract customers by a comprehensive range of banking services.
• The rising acceptanceof white label ATMs that allow customers to withdraw cash at diverse locations will aid industry expansion. These machines make personal banking convenient by providing cash withdrawal devices in close proximity to a large number of bank customers. Banks are increasing the deployment of white label ATMs as they lower pre-transaction costs.
• The increasing installation of ATMs at commercial locations that offer good visibility with uninterrupted power supply is helping the ATM market value. These locations have high customers footfall due to which the total number of transactions are high providing optimum return on investments to banks.

Table of Contents (ToC) of the report:

Chapter 3 Automated Teller Machine (ATM) Market Insights

3.1  Industry segmentation

3.2  Impact of coronavirus (COVID-19) pandemic

3.2.1  Global outlook

3.2.2  Regional outlook

3.2.3  Industry value chain

3.2.3.1  Raw material providers

3.2.3.2  Component providers

3.2.3.3  Manufacturers

3.2.3.4  Distributors

3.2.3.5  Technology providers

3.2.4  Competitive landscape

3.2.4.1  Marketing

3.2.4.2  Distribution channel

3.2.4.3  Business growth

3.3  Industry ecosystem analysis

3.3.1  Raw material suppliers

3.3.2  Component providers

3.3.3  Manufacturer's

3.3.4  Distributors

3.3.5  Technology providers

3.3.6  Financial institutions

3.3.7  Vendor matrix

3.4  Technology & innovation landscape

3.5  Regulatory landscape

3.6  Industry impact forces

3.6.1  Growth drivers

3.6.2  Industry pitfalls & challenges

3.7  Growth potential analysis

3.8  Porter's analysis

3.9  PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.