According to a new market research report published by Credence Research “Automatic Teller Machines (ATM) Market (by ATM Location: Onsite ATM and Offsite ATM; by ATM Type: Brown Label ATM and White Label ATM; by Input Medium: Touch Screen Input and Keypad Input) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the automatic teller machines (ATM) market was valued US$ 13.64 Bn in 2017 and estimated to grow with a CAGR of 7.8% during the forecast period from 2018 to 2026.
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Automatic teller machines or ATM in more colloquial terms is ranked as one of the most influencing modern technology for convenience. Automatic teller machines helped significantly to curb long queues in front of bank counters saving time and resources for bank as well as customers. According to the ATM Industry Association (ATMIA), there are more than 3.5 Mn ATM machines installed all across the globe and the number projected to experience a multifold growth in coming years. Although internet and mobile banking have put some cap on ATM usage, several consumers still prefer to rely on ATM machines for cash and other banking services. This has been identified by several ATM machine manufacturers and are confident about the market growth with a considerable growth rate of 7.8% throughout the forecast period from 2018 to 2026.
Home to several rapidly developing and industrial countries, Asia Pacific contemplated to zoom in as the most lucrative automatic teller machines market across the globe. Economic reforms in developing countries brought a revolution for ATM in Asia Pacific and anticipated to grow even further in the coming years. North America also showed positive intent in adding new ATMs to their tally. Positive growth attitude towards ATM across the globe expected to drive the market considerably in coming years.
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ATM market has tremendous potential and several companies face-off each other to take advantage of the growing market. These companies are consistent in coming up with new and improved machine designs and better security features to grab attention of financial institutes such as banks. A long-term contract with banks is the prime objective of these giants in order to boost their market revenue. The ATM market is fragmented in nature and is characterized by some of the biggest industry players backed by strong relationship with their partner banks. Few of the major notable players profiled in this research study Hitachi-Omron Terminal Solutions, Mitsubishi Electric Corporation, NCR Corporation, Sharp Electronics Corporation, Tianma Micro-electronics Co., Triton Systems of Delaware, GRG Banking, Intertech Bilgi, Oki Electric Industry Co., AU Optronics Corp., Fujitsu Frontech, KYOCERA Corporation, HESS Cash Systems GmbH, Nautilus Hyosung Corp., and Dibold Nixdorf among others.
Key Analysis Covered:
- Recent trends and developments in automatic teller machines market and prospects for automatic teller machine vendors
- Economic development, financial literacy and additional efforts of banking sector to create a beneficial situation for automatic teller machines market
- Different segmentation of ATM based on their locations, features and their most appropriate market estimation considerable several global and local parameters
- Largest and fastest growing segments in terms of ATM locations and ATM types
- Ranking of geographical regions/ countries based on their market size and attractiveness for the automatic teller machines market
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