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Global ATM Market Sagment by User Interface (Keyboard and Touch Screens); By Solution Type (Deployment {On-Site and Off-Site} And Managed) and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
ATM is an automated banking outlet that allows consumers to complete simple transactions without a dealer or branch representative. Most ATMs are readily available to people with credit cards or debit cards. An effective cash management system is required for the depositing and cash distribution from ATM. Cash recycling serves as an innovative cash management system providing benefits to banks such as fake identification, full and total accuracy, and improved customer service. The banks and credit unions have ATMs in some instances. Individuals and businesses can buy or rent ATMs on their own or from an ATM franchise. If people or small companies, such as restaurants and gas stations, own ATMs, the profit model is focused on fees for computer users.
Global ATM market to surpass USD 35.4 million by 2030 from USD 22.39 million in 2020 at a CAGR of 5.9 % in the coming years, i.e., 2021-30. The growing demand for automated systems is expected to affect the installation base over the forecast period in developing countries. In addition, there are also anticipated growth factors such as improved safety standards, technological progress, and integrated wireless devices such as smartphones. The main cause was the reduction of fraud caused by integration and the provision of diverse financial transaction services.
Global Automated Teller Machine Market is segmented by user interface into Keypad and touch screen. Due to the keys, keyboard ATMs are better and easier to maintain, owing to an increased demand for user-friendly interfaces, ATM touchscreens have begun to penetrate the global ATM markets, mainly in the industrialized and developing economies.
Global Automated Teller Machine market is segmented by solution type into deployment and managed. Deployment made it easier for consumers to access 24/7 banking services. Increased installation and maintenance activities have drastically affected revenue generation. In the premises of the bank, the installation of machines is performed, with machinery a there is the presence of physical bank branch. Such machines reduce the job burden of bank staff by eliminating long queues for payments, withdrawals, and cash deposits at bank offices. It reduces the probability of causing errors and ensures that banks will perform smooth financial transactions.
With the 24*7 standalone feature of banks' access to multi-station transactional services, demand for ATM machines is increased. ATMs turn from basic cash distributors into more customized and rich forms of communication owing to technical advances in the banking and financial industries. The incorporation and value-added services have helped improve customer loyalty.
Fast access to complex services, including bill transfer, money transfers between accounts, and check clearance on ATM devices helps financial institutions raise banks' revenue. Therefore, in the coming years it a large turnover is expected in the use of automated teller machines.
Previously there was a substantially low risk of fraud due to ATMs were seen as safe because of an online PIN to authenticate transactions. As innovation in the fintech industry is increasing, fraudsters have come up with frauds that hinder market growth, such as magnetic strips and pinhole cameras. Other problems faced by the virtual data space markets are inconsistent business semantics, data privacy, and data integration issues, presence of data silos
Diebold Nixdorf
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global ATM is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. During the projected timeline, APAC ought to have the highest share in the total market for ATMs. This market has been segmented into China, Japan, South Korea, and APAC's Rest (RoAPAC). RoAPAC contains Singapore, Thailand, Malaysia, India, New Zealand, and Australia. China is the nation's biggest APAC market. The demand for interactive devices is increasing. It is estimated that more than one million ATMs are installed worldwide with over 800,000 in Asia Pacific. It is projected that the industry needs will drive demand in this area in large unbanked populations across countries like India and China and in developing countries like Indonesia and Vietnam.
In the Middle East and Africa region, huge growth is also expected due to the cash-based economy, coupled with strong market demand and government support for electronic banking.
ATM Segments:
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