Atm Market reflecting high single-digit CAGR throughout the forecast period

Posted by Pradnya on July 31st, 2019

An estimation provided by the ATM Industry association states that over 3 Mn ATM machines are installed across the globe. ATM machines helped consumers to conduct financial transactions and withdraw cash instantly without requirement of human interaction. A recent report offered by Persistence Market Research reveals that the global ATM market is likely to surpass US$ 30 Bn by the end of 2025, reflecting high single-digit CAGR throughout the forecast period.

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According to the report, Asia-Pacific had secured approximately half share of the ATM market in 2016. The Europe procured second position, accounting one-fifth market share in the year 2016. Dynamic economies of China and India have led the APAC region to remain at leading position registering single-digit CAGR over the assessment period. This growth in the APAC region makes imperative for leading stakeholders in the ATM market to be established in the region.

The banks have been an increasing spree in the APAC region to serve financial requirements of people in the largely populous continent. There is sturdy concentration on financial inclusion and the ATM market has thrived in the remote, rural as well as far-flung regions of the continent. An increasing demand from the urban people, whom need quick services combined with value-based features. This content has the largest population compared to other continents on the planet however, the ATM ration per person is very low. This lead to the conclusion that opportunity for ATM market in APAC region is countless, especially in semi-urban and rural areas. For instance, in the year 2016, only 20% of ATM cardholders were located in rural areas of APAC region. The rural Asia is cash-centric, which concludes that the market for ATM in APAC region is slated to expand by bounds and leaps.