Automated Teller Machine (ATM) Market Analysis

Automated Teller Machine Market Analysis

The Indian ATM market is forecast to register around 7% gains through 2027 owing to the outsourcing of managed services for proper maintenance of the systems. The strict rules from the Ministry of Home Affairs (MHA) and the Reserve Bank of India (RBI) regarding the ATM ecosystem including introduction of penalty scheme for the downtime of the machine and implementation of cassette swap for replenishing the automated teller machines have shifted several bankers to outsource post-installation services.

The ATM market demand is poised to witness growth rate of nearly 5% in the UAE till 2027 led by the increase in tourism sector. With the relaxation of covid-19 protocols & border restrictions globally, the number of travelers visiting the nation has increased. According to the Dubai tourism report, about 4.88 million visitors entered the city between January and October of 2021.

The rise in tourism will increase the need for in-hand cash for the passengers across the countries, thus creating market growth opportunities. With scalability advantages offered through the deployment of white label ATMs as the operational activities are handled by non-banking entities, bankers can focus on expanding their network to cater to the growing demand.
 

The government sector in the automated teller machine market is estimated to exhibit over 4% CAGR during 2021 to 2027. The introduction of new policies from the governing authorities to develop the industries safety & operationality standards will boost the sector growth.
 

The Europe ATM market size is expected to observe 4% growth through 2027. To offer advanced solutions and seamless customer experience, industry participants in the region are forming strategic partnerships to launch new services. For instance, in July 2021, KAL & EVO Payments announced a new service solution for its customers in Europe. The service integrates EVO’s payments infrastructure and KAL’s Kalignite software suite that enables the independent ATM deployers & banks to swiftly deploy the automated teller machines to any location across the region. The software allows service providers to choose machines from more than 40 vendors and any ATM type with regulatory permissions at short notice.