New York, NY -- (SBWire) -- 04/25/2019 --Persistence Market Research (PMR) recently published a report titled "Automated Teller Machine (ATM) Market – Global Industry Analysis 2013-2017 and Market Forecast 2018-2026." The deployment of Automated Teller Machines (ATMs) is increasing owing to improvements in the rural banking network in developing economies. An Automated Teller Machine (ATM) is an electronic banking outlet that allows customers to complete basic financial transactions without the aid of a branch representative or teller. Anyone who possesses a credit card or debit card can access most ATMs.
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The global Automated Teller Machine (ATM) market is expected to grow at a CAGR of 7.8% during the forecast period. The Automated Teller Machine (ATM) market was valued at US$ 16,749.0 Mn in 2017, and is projected to grow significantly to reach US$ 33,203.8 Mn by 2026 due the growth of the banking sector as well as financial initiatives undertaken by governments worldwide.
In this report, PMR has segmented the global Automated Teller Machine (ATM) market on the basis of screen size, type, and region. By screen size, the market is subsegmented into 15" and below and above 15". Due to the increasing demand for multifunctional ATMs, the 15" and below subsegment was valued at 12,813.0 Mn in 2017. The 15" and below subsegment of the Automated Teller Machine (ATM) market is also projected to grow with a moderate growth rate during the forecast period. Furthermore, due to an increase in the number of physical cash transactions and a quantitative increase in mobile ATMs in developed and developing countries, the 15" and below subsegment is also estimated to present high revenue growth opportunities for the vendors of Automated Teller Machines (ATMs). Moreover, growth in the number of adults who own bank accounts, increase in investments for expanding the banking network, and growth in the number of foreign investments in the banking sector are some of the factors expected to boost the demand for Automated Teller Machines (ATMs) across the word.
Due to an increase in cybersecurity threats across various components of the banking system, service providers are focusing on developing anti-cybercrime strategies to protect their ATM network from various types of cyberattacks, which include malware that targets ATMs. As a result of these initiatives, the demand for biometric-enabled Automated Teller Machines (ATM) and other ATM security solutions is expected to increase across the globe. Owing to this, the off-site ATM segment, a subsegment of the "by type" segment, is projected to hold a market share of more than 62% at the end of 2018 in the global Automated Teller Machine (ATM) market. Moreover, the off-site ATM subsegment is expected to grow at a relatively higher CAGR as the demand for Automated Teller Machines (ATMs) is growing rapidly in various countries such as India, the U.K., and China. Due to a continuous increase in the number of ATMs of public and private sector banks, the off-site ATM subsegment is also expected to witness a high growth rate during the forecast period.
Furthermore, on the basis of geography, the Asia Pacific Automated Teller Machine (ATM) market is expected to dominate the global Automated Teller Machine (ATM) market due to advancements in the banking sector and growth of mobile ATMs in various countries of the region. The region has witnessed the widespread deployment of multifunctional ATMs in the past couple of years. These factors are fuelling the growth of the Automated Teller Machine (ATM) market in Asia Pacific. The Automated Teller Machine (ATM) market has high potential in Europe owing to major technological advancements in the banking industry and increase in the number of ATMs in various countries of the region.
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According to PMR analysis, long-term contracts with business partners are likely to increase revenue and new innovation strategies are estimated to enable the vendors of Automated Teller Machines (ATMs) to reach new growth markets. Some of the market participants in the global Automated Teller Machine (ATM) market report include NCR Corporation; Diebold Nixdorf, Incorporated; Hitachi-Omron Terminal Solutions, Corp.; GRG Banking; Fujitsu Frontech Ltd.; Triton Systems of Delaware LLC; Nautilus Hyosung Corp.; HESS Cash Systems GmBH & Co. KG; Oki Electric Industry Co., Ltd.; and Intertech Bilgi ??lem ve Pazarlama Ticaret A.?.
Display panel suppliers included in the Automated Teller Machine (ATM) market report include AU Optronics Corp.; KYOCERA Corporation; Mitsubishi Electric Corporation; Sharp Electronics Corporation; and Tianma Micro-electronics Co., Ltd.
Global Automated Teller Machine (ATM) Market Revenue Driven by Rising Preference for Next-Generation ATMs
Persistence Market Research (PMR) recently published a report titled “Automated Teller Machine (ATM) Market – Global Industry Analysis 2013-2017 and Market Forecast 2018-2026.”