The worldwide ATM market was valued over USD 11 billion in 2014. Rising demand for automated systems in emerging countries is anticipated to impact the overall industry further. Furthermore, factors such as integration of wireless communication devices like smartphones, enhanced security standards and technological advancements are expected to boost the industry growth. This is mainly owing to integration that has led to fewer scams and has offered assorted service offerings in fiscal transactions.
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Different approaches of cash transactions and online cash transfers are anticipated to pose a challenge to the overall industry growth. Although, rising use of solar powered machinery has resulted into minimal operational cost. Introduction of smart and solar ATMs in emerging countries like Japan, China and India are expected to boost the growth opportunities in the region.
The global ATM market by solution can be fragmented into managed and deployment services. In 2014, ATM deployment solutions market contributed over 70% of the total share and is predictable to experience a steady growth further. This segment includes installed machines based on accessibility into worksite, onsite, mobile and offsite.
Mobile ATMs are anticipated to undergo significant growth with a CAGR over 13% during 2015 TO 2022. Moreover, these solutions reduce traffic at high-volume place such as sports events, social gathering and trade fair. Additionally, they also offer flexibility and enhance promotions& branding for institutions.
North America ATM market contributed over 35% of the total share in 2014.North America and Europe are expected to undergo sluggish growth rate due to saturation in the market. Though, service providers in European region are adopting several solutions due to growing operational cost in the region.
Moreover, Asia Pacific, MEA are anticipated to show significant growth over the coming years. Requirement to serve enormous unbanked populations across regions like China and India as well as in emerging markets like Vietnam and Indonesia is anticipated to enhance the market demand .Furthermore; countries like Iran, Brazil, Russia and Nigeria are projected to experience sturdy demand for novel machines.
Middle-East and Africa is projected to go through remarkable growth mainly due to government support and high consumer demand for electronic banking coupled with cash-based economy in the region.
Information Source: Grand View Research