Ocean View, DE -- (SBWIRE) -- 06/19/2020 -- Global Market Insights, Inc. estimates worldwide ATM market to surpass a valuation of USD 16 billion by the end of 2024. The rising popularity of deposit automation technology among banking institutes to enhance customer service is one of the major factors fueling automated teller machine market trends.
However, increasing threats to security systems amidst the backdrop of rising number of cyber-attacks can deter ATM market demand in the ensuing years.
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ATM market is slated to register a lucrative growth graph over the coming years with industry bigshots focusing on integration of advanced technologies to enhance customer service. The partnership signed by Payment Alliance International with Sionic Mobile on December 2016 in order to deploy beacon technology is indeed a breakthrough. Such technological innovations are further indicative of a rich product landscape ahead. Deployment of high-end features such as video banking and touchscreens which aid faster and convenient transaction is a prominent factor characterizing ATM market trends.
Banks are heavily investing on advanced technologies to ensure payment security, due to which market share is likely to witness substantial growth prospects over the ensuing years. An instance validating the same is the implementation of iris biometric technology for Qatar National Bank ATMs back in 2016. The introduction of wireless technology across industries has also enabled ATM market to penetrate rural areas where connectivity and power supply are considered major concerns.
Benefits such as quick cash flow, transactional benefits, and easy withdrawals will potentially fuel global ATM market outlook. Not to mention, with the trend of replacing aging ATMs gaining global traction, market demand is further anticipated to intensify at an appreciable pace. Simple cash dispensers are getting upgraded to multifunctional machines with the ability to perform functionalities like bill payment, mini-statements, fund transfer, etc.,
Offsite ATMs will experience massive deployment rate against the backdrop of soaring demand for cash from emerging countries. These machines enable smooth transactions and quick withdrawal of cash and therefore are highly preferred. These systems can reach out to a wide network of customers across a vast geographical landscape, which will impact offsite ATM market share in the coming years. The increasing rivalry among the market players to provide more efficient, accurate, and convenient services will further drive offsite deployment solutions demand.
Banking sector in Latin America has been flourishing at an appreciable pace. The striving efforts by the government institutions towards the expansion of BSFI sector is a major factor propelling LATAM automated teller machine market share. An instance indicative of the favorable regulatory framework is approval of Resolution 4,480 by the Brazilian government in March 2016. The step helped and facilitated the opening of new bank accounts especially by low-income workers.
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Speaking further of regional landscape, APAC is also projected to register substantial growth in ATM market with China as a major revenue pocket. Stringent foreign regulations coupled with the collaborative efforts by the private and government institutes to enable accessible and convenient financial service are factors slated to drive China market size in the years ahead.
Some of the prominent names in ATM market include Fujitsu Limited, Euronet Worldwide, Inc., Hess Cash Systems, Nautilus Hyosung, Hitachi-Omron Terminal Solutions Corporation, Triton Systems of Delaware LLC, Tidel Engineering, L.P., and Diebold Nixdorf, Inc. M&As, product expansion in terms of latest technological advancements, collaborations & partnerships are some of the major strategies characterizing the ATM industry landscape.
Table of Contents (ToC) of the report:
Chapter 4 ATM Market, By Solution
4.1 ATM market share by solution, 2016 & 2024
4.2 Deployment
4.2.1 Market estimates and forecast, 2013 - 2024
4.2.2 Market estimates and forecast, by region, 2013 - 2024
4.2.3 Onsite (Bank-owned)
4.2.3.1 Market estimates and forecast, 2013 - 2024
4.2.3.2 Market estimates and forecast, by region, 2013 - 2024
4.2.4 Offsite
4.2.4.1 Market estimates and forecast, 2013 - 2024
4.2.4.2 Market estimates and forecast, by region, 2013 - 2024
4.2.5 Worksite
4.2.5.1 Market estimates and forecast, 2013 - 2024
4.2.5.2 Market estimates and forecast, by region, 2013 - 2024
4.2.6 Mobile
4.2.6.1 Market estimates and forecast, 2013 - 2024
4.2.6.2 Market estimates and forecast, by region, 2013 - 2024
4.3 Managed Services
4.3.1 Market estimates and forecast, 2013 - 2024
4.3.2 Market estimates and forecast, by region, 2013 - 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/ATM-market-report
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