ATM Market share to hit $26bn by 2023

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Global ATM Market forecast to grow at 9.8 CAGR
from 2016-2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Global ATM Market

• ATM market share worth USD 12.5 billion in 2015,
  and it is reach over USD 26 billion by 2023,
  escalated by demand technological innovation and
  replacement. Expanding financial service industry
  along with growing transactional security
  concerns will stimulate ATM market share over the
  coming years of 2016 to 2023.
• The banking sector is significantly adopting ATM
  services to save transaction time during cash
  deposit/withdrawals, passbook printing, cash
  counter enquiries, etc. This, in turn, will
  generate escalating demand for ATM machines over
  the coming timeframe.
• Moreover, expanding smartphone industry will
  create a notable scope for global ATM market,
  owing to the rising adoption of mobile-based cash
  withdrawal. The developing economies will play a
  prominent role towards the industry growth over
  the coming years, attributed to the growing need
  for financial inclusion across countries such as
  India, etc. Some of the renowned global entities
  such as federal reserve system, reserve bank, and
  European Union are willing to install security
  devices and standards to reduce the number of
  frauds, which, in turn, will boost ATM industry
  size.

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Continued

• Banking and financial sector is expected to
  generate lucrative opportunity for ATM market
  over the coming years of 2016 to 2023.
• ATM solution market is mainly segmented into two
  types- deployment and managed services.
  Deployment solutions dominated the ATM industry
  share by accounting for 70 of the total industry
  volume in 2015 and is predicted to exhibit an
  annual growth rate of 9.4 over the period of
  2016 to 2023. The growth can be attributed to its
  growing demand across the banking sector, owing
  to its flexibility and easiness while withdrawing
  cash.
• Additionally, expanding IT industry will further
  boost the deployment solutions market size.
  Managed services ATM market is anticipated to
  show an eye-catching growth over the coming
  years, driven by its increasing need for
  financial institutions. The benefit offered by
  managed services like low operational cost will
  increase profitability and reduce investment for
  financial institutes, thereby driving ATM market
  size noticeably.

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Europe ATM Market size, by application, 2012-2023
(USD Billion)

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Continued.

• Taking into account the geographical trends,
  North America ATM market share will dominate the
  global landscape, owing to the huge number of
  replacement of aging machines by financial
  institutions such as fleet expansion, banks as
  well as machine integration capabilities enlisted
  as biometrics, remote assistance, and video
  conferencing. The U.S. will contribute
  significantly towards the regional growth.
• The growing number of installations of ATM
  machines across the globe will boost the
  worldwide ATM industry share over the coming
  time. Europe ATM market size is projected to
  register an annual growth rate of 8.9 over the
  coming six years. Furthermore, Asia Pacific ATM
  market is predicted to grow significantly, owing
  to the increasing demand for automated teller
  machines across this region. India will become a
  major revenue pocket for APAC ATM industry share,
  due to growing trends towards cashless India in
  the future.
• Market participants are looking to invest heavily
  in RD and new product development to expand
  their business over the coming years. NCR
  Corporation, Diebold Corporation, Fujitsu,
  Hitachi, Euronet Worldwide, and GRG Banking are
  some of the notable industry players.

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