ATM Market (Automated Teller Machines) is Estimated over USD 26 Billion by 2024

Posted by Marketoverview on February 16th, 2018

The ATM Market (Automated Teller Machines Market) is estimated over USD 26 billion by 2024, growing at nearly 9.8% CAGR during the forecast period (2016-2024). It was valued about USD 12.5 billion in 2015. Technological breakthroughs and improved safety amid rising wireless devices will drive the ATM market in the next eight years. This can result in lessened frauds and safe consumer financial transactions.

ATMs find active encouragement from banks and other financial institutions. They help reduce bank queues. These machines benefit customers by assisting them make cash withdrawals, transfers, and deposits. They are adopted widely since they provide a multitude of options for fiscal transactions.

Online cash transfers and other transaction modes hinder the ATM market. Introduction of solar & smart ATMs across India and China is expected to provide industry opportunities. Rising competition among banks to expand their customer base should give the market a fillip.

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https://www.hexaresearch.com/research-report/atm-market

The ATM industry, divided on the basis of solutions, includes managed services and deployment. Deployment has enabled customers to avail banking services 24/7. It accounted for 70% revenues in 2014. This was attributed to growing IT companies worldwide. Worksite, offsite, onsite, and mobile ATMs constitute deployment solutions. Worksite is expected to generate over USD 2.6 billion by 2024.

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