Global ATM Industry Overview 2023:
An Automated Teller Machine (ATM) refers to an electronic device that allows individuals to perform various banking transactions without the need for human interaction. Users may withdraw cash, deposit money, check account balances, transfer money between accounts, and more using this self-service terminal, which offers simple access to financial services. With 24-hour accessibility, it is often found in public places such as banks, malls, airports, and convenience stores. Additionally, its primary objective is to simplify cash transactions. In order to access their accounts and validate their identity, users can put their bank cards—typically debit or credit cards—into the device and enter a personal identification number (PIN). Moreover, a lot of ATMs allow customers to deposit money by placing envelopes with cash or cheques inside; the money is processed and added to their accounts. For rapid verification and immediate deposit, some cutting-edge ATMs can even accept photographs of checks.
How Big is the ATM Market:
- Market Size Value in 2022: US$ 22.2 Billion
- Industry Revenue Forecast in 2028: US$ 29.6 Billion
- Growth Rate: CAGR of 5%
- Base Year of Estimation: 2022
- Historical Data: 2017-2022
- Future Forecast Period: 2023-2028
Global ATM Industry Driving Factors and Future Demand Analysis:
The escalating demand for security solutions majorly drives the global market. This can be supported by the increasing number of frauds and security breaches. Therefore, companies are providing advanced security solutions for ATMs, including biometric authentication, anti-skimming devices, tamper-proof hardware, and real-time monitoring systems to detect suspicious activities, impacting the market. Along with this, the development of accessible ATMs for individuals with disabilities or limited mobility including features such as voice guidance, tactile keypads, adjustable screen heights, and Braille instructions is significantly supporting the market.
In addition, the expansion of the financial technology (fintech) industry enabling ATM withdrawals using mobile apps, integrating peer-to-peer payment platforms, facilitating cryptocurrency transactions, or offering personalized financial management tools through the ATM interface is driving the market. Apart from this, key players designing user-friendly interfaces, integrating mobile banking functionalities, and enabling cardless transactions are contributing to the market. Furthermore, key players are integrating ATM analytics and data management solutions, creating a positive market outlook.
By IMARC Group, the Top ATM Manufacturers, Companies in the World 2023:
- Diebold Nixdorf, Inc.
- NCR Corporation
- Triton Systems of Delaware LLC
- Hitachi Channel Solutions Corp (Hitachi-Omron Terminal Solutions Corp)
- GRGBanking Equipment Co. Ltd.
- OKI Electric Industry Co. Ltd.
- Nautilus Hyosung America, Inc. (Hyosung TNS Inc.)
- HESS Cash Systems GmbH & Co KG
- Fujitsu Ltd.
- Euronet Worldwide, Inc.
- Brink’s, Inc
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