ATM Market worth over $26bn by 2023: Global Market Insights Inc.

“U.S. ATM market share is responsible for a dominant North American revenue base. Replacement of aging machines by financial institutions such as banks, fleet expansion and machine integration capabilities such as video conferencing, biometrics and remote assistance will drive the revenues for the next seven years.”

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The industry statistics report ATM Market Size By Solution (Deployment [Onsite, Offsite, Worksite, Mobile], Managed Services), Industry Analysis Report, Regional Trends, Application Potential, Competitive Market Share & Forecast, 2016 - 2023” by Global Market Insights, Inc. says ATM Market size is poised to surpass USD 26 billion by 2023.

Increasing involvement of customers with the banking and financial organizations will drive automated teller machine market size over the forecast timeline. Consistent government and institutional efforts to reduce the underbanked and unbanked population in the emerging economies will favor industry growth.

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Shift from class banking to mass banking through inclusive finance, owing to increased user interest for self-service channels is likely to provide significant growth opportunities over the forecast period. Rising need to provide convenient banking for consumers to gain competitive edge over other financing institutes will drive the ATM market share.

Increasing penetration in the economically stabilizing economies specifically in the BRIC nations is expected to present potential growth avenues over the forecast timeline. The requirement to cater to growing cash demand in these regions, banks and financing organizations is expected to increase investment. Small value businesses functioning on cash payments, managing low valued transactions through personal budgeting or cash will also catapult the ATM market size.

Technological standards are formulated by Scrutiny Standards Council (SSC), International Organization for Standardization (ISO), European payment council (EPC), American National Standards Institute (ANSI), and Payment Card Industry (PCI). Moreover, the current versions of PCI PIN Security Requirements and PCI PTS POI Security Requirements are the most accepted standards.

Card skimming, card trapping, online frauds, and inappropriate network connectivity are the major factors hindering the ATM market share growth. With growing technological advancements, financing organizations have managed to curb these potential threats from malpractices. Next generation technologies that feature anti skimming, voice recognition systems, biometric devices and ease of use will facilitate the consumers to complete businesses safely and increase product usage.

Global regulatory authorities are organizing security standards and systems to reduce fraud prevalence, owing to which the global ATM market size is expected to witness escalation over the coming years.

Browse key industry insights spread across 70 pages with 31 market data tables & 28 figures & charts from the report Automated Teller Machine (ATM) Market in detail along with the table of contents:   

Deployment solution is estimated to witness gains at over 9% CAGR with offsite ATM market dominating the overall industry. The segment is expected to garner high usability owing to its installations in public places, and feasibility in accessing cash and other banking services.

North America is estimated to account for over 35% of the revenue by 2023 on account of attractive U.S. ATM market share. Substitution of maturing machines by banks and other machine coordination capacities, such as, video conferencing, biometrics and remote will favor industry growth.

Asia Pacific automated teller machine market size is expected to witness significant gains owing to large untapped population base and increasing financial institute presence across the region. Demonetization initiative in India will support the industry demand over the forecast timeline.

Key players in the industry include Fujitsu, NCR, Euronet, GRG Banking, Diebold, and Hitachi.

Manufacturers are spending heavily in R&D for the development of more secured transaction methods, with increased ease of usability. Manufacturing costs of these machines is high and requires production in bulk to achieve better gains.

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ATM market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2023, for the following segments:

ATM Market By Solution

  • Deployment
    • Onsite ATM
    • Offsite ATM
    • Worksite
    • Mobile
  • Managed Services

The above information is provided on a regional basis for the following:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • MEA


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About Global Market Insights

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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