Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Next-Gen ATM Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global next-gen ATM market is expected to grow from $2.84 billion in 2022 to $3.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.27%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The next-gen ATM market is expected to reach $4.08 billion in 2027 at a CAGR of 7.64%. 
The rise in the value of consumers' purchasing power parity (PPP) is expected to propel the growth of the next-gen ATM market going forward. For instance, according to the Energy Information Administration, a US-based primary federal statistical system organization, the purchasing power annual average index value in 2021 is 270.97, while for the year 2022 found to be 292.66. Therefore, the rise in the value of consumers' purchasing power parity (PPP) is driving the next-gen ATM market.
Technology innovation is the key trend gaining popularity in the next-gen ATM market. Major players in the next-gen ATM market are creating revolutionary products to improve their market share. For instance, in October 2020, NCR Corporation, a US-based company that designs and develops banking software and services, launched NCR Activate Enterprise NextGen, the world's most advanced self-service ATM software application. It is hardware-independent, allowing banks to offer unique customer experiences such as video teller cooperation and contactless technologies in an easy-to-install ATM application. The new platform adheres to the industry-wide ATMIA Next-Gen Industry Standard and can be used by top ATM operators. By utilizing a contemporary user interface to deliver an essential, tablet-like experience that users like, these standards will accelerate the implementation and uptake of a wide variety of electronic and extended banking services. The Activate Enterprise, NextGen ATM platform, integrates physical and digital elements for a uniform user experience, making it simpler and quicker to deliver new digital services through the ATM.
In June 2021, NCR Corporation., a US-based company that creates and develops banking software and services for next-gen ATMs, acquired Cardtronics Inc. for approximately $2.5 billion. Through the acquisition, NCR Corporation can deliver technology solutions and capabilities that help clients operate their businesses faster. The acquisition moves the NCR-as-a-Service strategy forward, further transforms the business's earnings mix toward software, services, and recurring income, and benefits the clients. Cardtronics Inc. is a US-based manufacturer of ATMs.
Report Scope
Markets Covered:
- By Type: Cash Dispensers; Deposit ATMs; Cash Recycling ATMs; Self-Service ATMs; Self-Service Kiosks; Mobile ATMs; Other Types
- By Solutions: Deployment; Managed Services
- By Technology: Contactless; Voice Recognition; Biometrics; Video Banking; AI (Artificial intelligence) And IoT (Internet of Things) Integration
- By Application: Bank Service Agent; Bank; Retail; Enterprises
Key Companies Mentioned: Fujitsu Limited; NCR Corporation; AIB Group plc; Diebold Nixdorf Inc.; Euronet Worldwide Inc.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Italy; Spain; Canada
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $3.04 billion |
| Forecasted Market Value (USD) by 2027 | $4.08 billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Fujitsu Limited
- NCR Corporation
- AIB Group plc
- Diebold Nixdorf Inc.
- Euronet Worldwide Inc.
- OKI Electric Industry Co. Ltd.
- Hyosung Corporation
- ACI Worldwide Inc.
- EZ Energy USA Inc.
- GRG Banking Equipment Co. Ltd.
- Bancsource
- Hitachi Payment Services Pvt. Ltd.
- Nautilus Hyosung America Inc.
- Monex Financial Services Ltd.
- Invenco Group Ltd.
- Aevi International GmbH
- HESS Cash Systems GmbH
- Puloon Technology Inc.
- Triton Systems of Delaware LLC
- Spinnaker International Ltd.
- Ark Technologies Group
- Citywide ATM Inc.
- Unified Payments Services Ltd.
- Genmega Inc.
- Sharenet Inc.
- Cypress Advantage
- TEKchand Pty. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2tdric
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