The ATM market is estimated to attain close to USD 25 billion by 2022. It generated around USD 11 billion in 2014. Demand for automated systems regarding wireless communication should widen the consumer base over the next seven years (2015 to 2022 - forecast period). Factors that positively influence market demand include smartphone integration, better safety standards, and technological growth. These result in less frauds and safe financial transactions.
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Online cash transfers and other transaction modes hinder the market. Solar and smart ATMs in India and China are expected to provide novel opportunities. Competition among banks to expand their customer base can also provide market impetus.
The ATM market, divided on the basis of solutions, includes deployment and managed. Deployment solutions help customers avail banking services round the clock. They accounted for 70% revenues in 2014. Worksite, offsite, onsite, and mobile are the various sub-segments into which deployment is divided.
Onsite machines are installed in bank premises. They lessen staff pressure and error probabilities. This factor could propel their demand. Mobile ATMs decrease customer strength at trade fairs, sport events, and public gatherings. They will grow at a CAGR above 13% in the forecast period.
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Managed solutions assist banks in moving their non-core operations to trained service providers. They also aid the banks in concentrating on their core businesses. This segment can retain customers and provide cross-sales prospects. It may expand at a CAGR higher than 11% in the seven years ahead.
North America dominated the ATM market in 2014. It is likely to grow slowly in the coming years. Digital currency encourages the use of Bitcoin ATMs in the region. Europe can also experience sluggish expansion because of saturation and rising operational expenses. Asia Pacific should grow at a CAGR above 12% in the next seven years. This will be attributed to self-service machines and ever-increasing customers in China and India.
Increased IT dependence during work furthers demand for the global ATM market, with consumers using multi-function systems. Thus, ATM makers & suppliers aim to create multi-function systems that cater to changing customer preferences & tastes. Notable market participants are GRG Banking, Nautilus Hyosung, Euronet Worldwide, NCR Corporation, and Diebold Inc.
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