How Has The Computer Vision in ATM Market Size Evolved In Recent Years?
The atm market has seen considerable growth due to a variety of factors.
• The size of the ATM market has consistently expanded in the past few years. It's projected to increase from $38.09 billion in 2024 to $39.54 billion in 2025, boasting a compound annual growth rate (CAGR) of 3.8%.
Factors such as an increase in cash transactions, the broadening of banking networks, growing population and urbanization, enhanced customer convenience, and initiatives towards financial inclusion, can explain this growth observed in the historic period.
How Will The ATM Market Size Evolve In The Foreseeable Future?
The atm market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the ATM market is projected to experience a significant rise in the coming years. The expectations are for it to escalate to $45.49 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 3.6%.
This surge in the prospective period is due to several factors including an increasing trend in cash usage, global economic growth, advanced banking services, governmental policies, and the adaptation to changing customer behaviors. Notable trends throughout this forecast period incorporate a focus on inclusion and accessibility characteristics, automating cash recycling and deposits, offsite ATM management and surveillance, better user interface for improved user experience, and initiatives towards sustainable ATM design and operations.
What Are The Essential Drivers Behind The Growth Of The ATM Market?
The escalating use of ATMs by customers is projected to fuel the expansion of the ATM market in the future. The preference for cash transactions due to its ease of use is commonplace in numerous countries. With technological advancement, clients seek quicker, more reliable, and easy-to-use methods for cash access. ATMs, functioning as self-service cash dispensers, allow clients to conduct banking transactions anytime, anywhere. They provide a means of saving users' time, money, and effort by reducing transaction costs and increasing transaction speed and precision. For example, the ATM Industry Association (ATMIA), a non-profit trade association based in the U.S., reported that the American ATM market grew by about 21,000 terminals from 2021 to the end of 2022 in September 2023. ATMIA's current approximation of the total number of active ATMs falls between 520,000 and 540,000. Therefore, the upsurge in ATM usage by consumers is likely to bolster the growth of the ATM market.
What Are The Core Segments Of The Globa ATM Market?
The ATM market covered in this report is segmented –
1) By ATM Type: Location Based ATM, Operation Based ATM
2) By Solution: On Site, Off Site, Work Site, Mobile
3) By Operation: White Label, Green Label, Yellow Label
4) By Application: Withdrawal, Transfer, Deposits
Subsegments:
1) By Location-Based ATM: Off-Premise ATMs, On-Premise ATMs, Kiosk ATMs
2) By Operation-Based ATM: Cash Dispenser ATMs, Full-Service ATMs, Smart ATMs, Drive-Up ATMs
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Which Emerging Trends Are Reshaping The ATM Market Size?
The rise of Smart ATMs is an emerging trend that is enthusing the ATM marketplace. These are not your ordinary cash dispensing ATMs, but machines that bring a host of upgraded features. Superior technologies incorporated into Smart ATMs serve to enhance user experience and reduce incidents of fraud. In an illustrative case, Bank of Baroda, a prominent public sector bank in India, rolled out an avant-garde service, the Interoperable Cardless Cash Withdrawal (ICCW) in June 2023. This unique facility lets customers withdraw cash from their ATMs using just their mobile phone and UPI app, without requiring a physical debit card. The ICCW service is fairly straightforward to use, customers choosing the UPI Cash Withdrawal option at the ATM, scanning the QR code shown, and approving the transaction using their UPI PIN. Beyond simple convenience, this service ensures greater safety and versatility, eliminating the potential for card-related fraud and facilitating withdrawals from various linked accounts. Bank of Baroda, the first public sector bank in India to provide this service, showcases its dedication to digital innovation and customer convenience.
Who Are the Key Players in the ATM Market?
Major companies operating in the ATM market include:
• IBM Corporation
• Tata Consultancy Services Limited
• Atlas ATM
• NCR Corporation
• Diebold Nixdorf
• Wincor Nixdorf
• Euronet Worldwide Inc.
• Hyosung Corporation
• GRG Banking Equipment Co. Ltd.
• Fujitsu Frontech Ltd.
• Eastcompeace
• Nautilus Hyosung Corporation
• Oki Electric Industry Co. Ltd.
• Forbes Technosys Ltd.
• KingTeller
• Hantle
• Triton Systems of Delaware LLC
• HCL Infosystems Ltd.
• EFT Networks Inc.
• RapidCash ATM Ltd.
• Hitachi-Omron Terminal Solutions Corporation
• Triton System of Delaware LLC
• G4S plc
• Lipi Data Systems Ltd.
• Itautec
• Shenzhen Yihua Computer
• HESS Cash Systems GmbH & Co KG
What are the Regional Insights into the ATM Market?
Asia-Pacific was the largest region in the ATM market in 2024. The regions covered in the atm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
