Automated Teller Machine Market By 2024 – Drivers, Restraint & Future Growth

The automated teller machine market is expected to gain significant growth owing to its remarkable convenience features. These machines offer fast transactional benefits and quick withdrawals, providing easy cash flow to customers. Technological innovation has transformed ATMs into multifunctional machines that are able to cover necessary financial activities like bill payment, print mini-statements and fund transfer.

Rapid expansion of drive-thru cash dispensers could boost the demand for automated teller machines. Drive-thru machines offer the convenience of using cash machines without leaving the car. Customers no longer have to stress about finding a good parking space or leaving their children in the vehicle. Considering its significance, the automated teller machine market could hit USD 25 billion by the year 2024.

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The SelfServ 80 series is configured with NCR’s CxBanking software suite which ensures amazing consumer experience across physical and digital banking infrastructures. Such innovative, cost-effective, highly-efficient and user-friendly solutions released by automated teller machine market players, have been complemented with enthusiastic efforts by a large number of financial institutions who appear keen to replace the existing aging machines with the latest multifunctional ATMs. All the aforementioned factors have been instrumental in the rapid expansion of the market size, which was estimated to have surpassed USD 14 billion in 2016, with the total installed base of over 3 million units.

Meanwhile, the automated teller machine market has been witnessing a revolution of sorts as the emergence of decentralized digital cryptocurrencies has drastically transformed the global currency landscape. Bitcoin ATMs, cite experts, would prove to be a godsend to those who lack the technical know-how and struggle to obtain the complex documentation procedure to complete the lengthy KYC norms of banks. To cite an instance to demonstrate the interesting phenomenon of ATM and bitcoins, Nautilus Hyosung, the global leader partaking in market, has teamed up with a U.S. based mobile payments provider Just.Cash, allowing the transaction of cryptocurrency through the regular ATMs in South Korea. This service would operate in the similar fashion as the conventional ATM works, however, the digital currency would be dispatched to the customer’s wallet using a QR code scan. Apparently, cryptocurrency-enabled ATM’s would be an invaluable addition to the whole ecosystem of the fast-evolving market.

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With the rising digitization initiatives and financial inclusion schemes commenced by various governments across the Asia Pacific region, coupled with the massive customer base and increasing demand for self-serving multifunctional machines in countries such as India, China, Indonesia and Vietnam, the automated teller machine market has tremendous potential to garner sizeable revenue in the forthcoming years.

Speaking of the competitive hierarchy, the key automated teller machine market players including GRG Banking, Triton Systems Inc., Fujitsu, Hitachi-Omron Terminal Solutions, Diebold Nixdorf, and Euronet are aiming to capitalize the wide-ranging opportunities by offering managed services for ATMs which would lower the operational costs of banks and allow them to focus on their principal business propositions.

Major Key Points from Table of Content:

Chapter 4    Automated Teller Machine Market, By Solution

4.1    Market share by solution, 2016 & 2024

4.2    Deployment

4.2.1   Market estimates and forecast, 2013 - 2024

4.2.2   Market estimates and forecast, by region, 2013 - 2024

4.2.3   Onsite (Bank-owned)

4.2.3.1    Market estimates and forecast, 2013 - 2024

4.2.3.2    Market estimates and forecast, by region, 2013 - 2024

4.2.4   Offsite

4.2.4.1    Market estimates and forecast, 2013 - 2024

4.2.4.2    Market estimates and forecast, by region, 2013 - 2024

4.2.5   Worksite

4.2.5.1    Market estimates and forecast, 2013 - 2024

4.2.5.2    Market estimates and forecast, by region, 2013 - 2024

4.2.6   Mobile

4.2.6.1    Market estimates and forecast, 2013 - 2024

4.2.6.2    Market estimates and forecast, by region, 2013 - 2024

4.3    Managed Services

4.3.1   Market estimates and forecast, 2013 - 2024

4.3.2   Market estimates and forecast, by region, 2013 - 2024

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