Product ID: SQMIG45J2179
Global ATM Market Size, Share, Growth Analysis, By Type(White Label, Brown Label), By Solution(Deployment (Onsite, Offsite), By Application(Commercial, Government) - Industry Forecast 2024-2031
Report ID:
SQMIG45J2179 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
90 |
Figures:
76
Global ATM Market Dynamics
ATM Market Driver
- The major factor driving the industry is the competition among the banks to provide service to customers' convenience.
- In developing markets, such as India, China, and Brazil, there has been a significant surge in opening new bank accounts. 200 million plus new bank accounts were opened in India in the last three years.
- Creating presence around city is very important for banks to attract customers. But it is not possible nor cost-efficient to set up branches around all the locations. Hence, the ATM industry is driven by this factor, as it does not require heavy real-estates nor other related costs.
- Deployment of low-cost ATMs and cheaper IP-based communication by IADs push the initial investment costs down.
- Convenient location of ATMs ranks high among the needs of consumers and has propelled the growth of off-site ATMs.
ATM Market Restraint
- Including embedded cameras, GPS systems as well as seismic and heat sensors, leading to additional cost for banks. Moreover, cost of new technology for updating ATMs has become a huge issue. For instance, upgradation of operating systems from Windows XP to Windows 7 or 10 across all ATMs.
- The proliferation of payment options such as debit cards, credit cards, mobile payments, and online transactions, may result in reduced need for cash in the near future.
Global ATM Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
