The Global market accounted for USD 15.1 Billion in 2020 and is expected to reach USD 21.2 Billion by 2028, growing at a CAGR of around 4.8% between 2021 and 2028.
The Global ATM market accounted for USD 15.1 Billion in 2020 and is expected to reach USD 21.2 Billion by 2028, growing at a CAGR of around 4.8% between 2021 and 2028.
The increasing demand for automation within the banking sector in numerous developing and developed countries is boosting the ATM market progress. The worldwide banking sector has observed quite a few high-tech developments over the last decade. It's observing mounting security threats, regulatory requirements, and changing consumer demands. The machine provides a chance for banks to travel for cost-effective and competent models. With the coming of those machines, banks can serve a decent customer base even outside the banking institute. These cards help to exchange hassles of bank transactions, paper-based validations, bank hour constraints, and private attendance of consumers, providing enhanced banking experience for patrons also as bankers. They permit banks to succeed in customers at a lower initial and transaction cost, leading to higher adoption of these machines.
Improved security mechanisms, like fingerprints, biometrics, and two-factor authentication services, to stop fraudulent communications are being executed to supply a further layer of security to individuals. Banks are introducing new security measures for verifying whether the physical card may be fake or duplicate. For instance, in January 2019, the Federal Reserve Bank of India mandated banks to upgrade their older magstripe cards to EMV chip cards as they provide improved authentication, avoiding scams/fraudulent doings. Banks also specialize in developing additional security measures, like the intelligent anti-ATM skimming devices, that help to watch the system for illegally mounted intrusion mechanisms and help in safeguarding card & PIN data theft.
Increasing digitization in emerging countries may unfavorably affect the ATM market revenue within the coming years. The evolution of digital payment solutions, like mobile banking & online and digital wallets & Bitcoin transactions, is being seen within the payment industry. Consumers are increasingly preferring online banking networks as they supply convenient, fast, and secure transactions. The growing inclination toward mobile payments and therefore the adoption of online channels may change the competitive landscape across various regions, challenging industry growth. Stringent government regulations to mandate the hardware & software upgrades for security purposes in these machines may result in high maintenance costs for operators.
COVID-19 Impact Analysis
The COVID-19 pandemic has resulted in the imposition of social distancing measures that have limited the movement of persons. Also, the increasing consumer demand for cash has compelled many banks to launch mobile ATMs to satisfy the banking needs of consumers. For instance, in March 2020, Indian Bank launched a mobile ATM initiative in India (Chennai) to assist people that were facing difficulties in withdrawing money thanks to the COVID-19 outbreak. Such initiatives are driving the expansion of the worldwide ATM market during the forecast period.
Changing lifestyles and high standard of individuals is that the major factor boosting the expansion of the worldwide ATM market. The introduction of niche sorts of ATMs like solar ATMs and smart ATMs within the emerging markets is additionally another key factor boosting the expansion of the worldwide ATM market. Moreover, innovations within ATM technology also are influencing the expansion of the market due to the increasing demand from consumers. Furthermore, advantages provided by ATM cards like no hassles of bank transactions, banking hour constraints, personal attendance of the purchasers, and paper-based validations are additionally attributed to the increasing demand of ATMs by consumers. On the opposite hand, a number of the main risks related to ATMs like online frauds, thefts, connectivity, and operational issues may hamper the expansion of the worldwide ATM market to some extent.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Solution Segment Analysis Preview
Deployment solutions will witness a growth of more than 5% over the forecast timespan. Onsite ATMs are being widely deployed in bank premises for helping customers to avoid long queues for deposits, cash transfers, and withdrawals. They provide advantages like the flexibility of money withdrawals & deposits, privacy in quicker, transactions, and efficient services. These ATMs reduce the frequency of errors, helping banks in making smooth financial transactions. The evolving banking infrastructure and increasing installation of onsite systems to reinforce customer satisfaction will provide several growth opportunities to the market.
Regional Segment Analysis Preview
Asia-Pacific region is anticipated to witness the highest growth owing to new technological advancements in the ATMs. Singapore is one of the Asian countries that offer smart gold ATMs dispensing gold bars, coins, and ingots. In addition, North America is the biggest market for ATMs, followed by Europe.
Key Market Players & Competitive Landscape
Major market players of ATM market comprise Wentong Group, ADOB Chemical, URALCHEM, The Chemical Company, GFS Chemicals, Inc., Airedale Chemical, Agrium, Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd, Haifa Chemicals Ltd., Yara International ASA, and Sterling Chemicals among others play an important role.
The global ATM Market is segmented as follows:
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Solution
FIG NO. 2. Market Attractiveness Analysis, By Region
FIG NO. 3. Global ATM Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 4. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 5. Market Revenue Share, By Solution, 2020 & 2028
FIG NO. 6. Global ATM Market for Deployment Solutions, Revenue (USD Billion) 2016 – 2028
FIG NO. 7. Comparative Revenue Analysis of ATM Market for Deployment Solutions, By Country, 2020 & 2028
FIG NO. 8. Global ATM Market for Managed Solutions, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of ATM Market for Managed Solutions, By Country, 2020 & 2028
FIG NO. 10. Global ATM Market Revenue Share, By Region, 2020 & 2028
FIG NO. 11. North America ATM Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 12. Porter’s Five Forces Analysis for Global ATM Market
FIG NO. 13. PEST Analysis for Global ATM Market
FIG NO. 14. Pricing Analysis for Global ATM Market
FIG NO. 15. Value Chain Analysis for Global ATM Market
FIG NO. 16. Company Share Analysis, 2019
FIG NO. 17. Radar Determinant Chart, 2019
FIG NO. 18. Company Strategic Developments – Heat Map Analysis
FIG NO. 19. Emerson Electric Co Business Segment Revenue Share, 2020 (%)
FIG NO. 20. Emerson Electric Co Geographical Segment Revenue Share, 2020 (%)
FIG NO. 21. Market Channels
FIG NO. 22. Marketing Channel Development Trend
FIG NO. 23. Growth in World Gross Product, 2008-2018
FIG NO. 24. Research Methodology – Detailed View
FIG NO. 25. Research Methodology
List of Tables
TABLE NO. 1. Global ATM Market: Snapshot
TABLE NO. 2. Quarterly ATM Market Revenue by Region, 2020
TABLE NO. 3. Quarterly ATM Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global ATM Market for Deployment Solutions, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global ATM Market for Managed Services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global ATM Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. North America ATM Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 10. North America ATM Market Revenue, By Solution, 2016 – 2028 (USD Billion)
TABLE NO. 11. U.S. ATM Market Revenue, By Solution, 2016 – 2028 (USD Billion)
TABLE NO. 12. Canada ATM Market Revenue, By Solution, 2016 – 2028 (USD Billion)
TABLE NO. 13. Mexico ATM Market Revenue, By Solution, 2016 – 2028 (USD Billion)
TABLE NO. 14. Drivers for the ATM Market: Impact Analysis
TABLE NO. 15. Restraints for the ATM Market: Impact Analysis
TABLE NO. 16. Major Buyers of ATM
TABLE NO. 17. Distributors/Traders List of ATM
TABLE NO. 18. Global ATM Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 19. Global ATM Market, Company Y-o-Y Growth, 2017 – 2028 (USD Billion)
The global ATM Market was valued at USD 15.1 billion in 2020.
The global ATM Market is expected to reach USD 21.2 billion by 2028, growing at a CAGR of 4.8% between 2021 to 2028.
Changing lifestyles and high standard of people is the major factor boosting the growth of the global ATM market.
Asia Pacific region held a substantial share of the ATM market in 2020. Changing lifestyles and high standard of people is the major factor boosting the growth of the global ATM market