ATMs find active encouragement from banks and other financial
institutions. They help reduce bank queues. These machines benefit customers by
assisting them make cash withdrawals, transfers, and deposits. They are adopted
widely since they provide a multitude of options for fiscal transactions.
Online cash transfers and other transaction modes hinder the ATM market.
Introduction of solar & smart ATMs across India and China is expected to
provide industry opportunities. Rising competition among banks to expand their
customer base should give the market a fillip.
Browse Details of
Report @ https://www.hexaresearch.com/research-report/atm-market
The ATM industry, divided on the basis of solutions, includes managed
services and deployment. Deployment has enabled customers to avail banking
services 24/7. It accounted for 70% revenues in 2014. This was attributed to
growing IT companies worldwide. Worksite, offsite, onsite, and mobile ATMs
constitute deployment solutions. Worksite is expected to generate over USD 2.6
billion by 2024.
Onsite machines are installed within bank premises. They reduce
staff-pressure and error-probability. These factors would drive sub-segment
demand in the near future. Mobile ATMs decrease customers at trade fairs and
sports events. They may grow at a CAGR close to 13% till 2024. These machines
give banks the chance to lessen the traffic at populated places and extend
their reach.
Managed services allow banks to move their non-core activities to trained
service providers & concentrate on their core business. They are involved
in retaining customers & offering cross-selling opportunities. Managed
services will grow at a CAGR above 11% from 2016 to 2024. Their outsourcing can
bring good returns, complying with regulatory policies. Firms such as Diebold
Inc. and Wincor Nixdorf AG provide such services at low costs.
In view of regions, the ATM market consists of North America, Asia
Pacific, Europe, and the MEA (the Middle East & Africa). North America
dominated in 2014 but will face a decline till 2022. Its trend of trading in
digital currency has encouraged the adoption of Bitcoin ATMs in the region. The
U.S. is the best market (in terms of performance), bound at over USD 9 billion
by 2024. Its integration of biometrics, remote assistance, & video
conferencing can drive regional sales. U.S. banks have implemented
Europay/Visa/MasterCard IC encryption to ensure added security.
Europe is predicted to experience a similar trend on account of
saturation and rising operational costs. Asia Pacific will grow at a CAGR above
12% during the forecast period due to its self-service machines and
ever-increasing customer base.
Increased IT dependence has led players of the global market to create
devices with multiplatform compatibility. Notable players are GRG Banking,
Nautilus Hyosung, Euronet Worldwide, and NCR Corporation. Mergers and
acquisitions are one of the strategies adopted by companies to maintain
industry hold. For instance, Euronet acquired Pure Commerce in 2013 to broaden
its global reach.
Browse Related
Category Market Report @ https://www.hexaresearch.com/research-category/digital-media-industry
About Us:
Hexa Research is a market
research and consulting organization, offering industry reports, custom
research and consulting services to a host of key industries across the globe.
We offer comprehensive business intelligence in the form of industry reports
which help our clients obtain clarity about their business environment and
enable them to undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - https://www.hexaresearch.com
No comments:
Post a Comment