According to the latest report by IMARC Group, titled “ATM Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global ATM managed services market Share.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global ATM managed services market size reached US$ 7.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.19 Billion by 2027, exhibiting a growth rate (CAGR) of 5.40% during 2022-2027.
What is a ATM managed services ?
Automated teller machine (ATM) managed services, also known as ATM as a service, are comprehensive services offered to numerous financial institutions and banks. Some commonly used ATMs include smart cash dispensers, brown and white labels, and conventional bank ATMs. They provide electronic product delivery, disaster recovery, surcharging options, currency management, full-service adjustment processing, deposit collection, and anti-skimming monitoring facilities.
These services also offer cardless transactions, cash withdrawals and transfers, bill payments, and camera security. In addition, they reduce operating costs, improve customer service, simplify network operation, reduce downtime, provide reliable service and quick response to service call, and enhances overall profitability and performance. As a result, ATM-managed services are gaining traction across the globe.
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What are the key factors driving in the ATM managed services market?
The market is primarily driven by the increasing demand for advanced ATM services to manage complex operations such as fund transfer, deposit, and cash withdrawal 24x7 across the globe. In addition, the expanding banking, financial, services, and insurance (BFSI) sector and increasing utilization of enhanced security measures such as biometric and one-time password authentication systems to prevent fraud are contributing to the market growth.
Moreover, various technological advancements, such as the introduction of mobile-based technologies, quicker response (QR) codes, artificial intelligence (AI), blockchain, and the internet of things (IoT) solutions with ATM-managed services, represent another major growth-inducing factor. Besides this, governments of several countries are taking initiatives to promote the uptake of magstripe cards by using Europay MasterCard and Visa (EMV) chips for improved authentication is providing a positive thrust to the market growth. Furthermore, rapid digitizations, the advent of smart ATMs for users with special needs, and strategic collaborations among financial institutions are also creating a favorable market outlook.
who are the key players/companies in ATM managed services market?
AGS Transact Technologies Ltd., Cardtronics Inc. (NCR Corporation), CMS Info Systems Ltd., Diebold Nixdorf Incorporated, Electronic Payment and Services Private Limited, Euronet Worldwide Inc., Financial Software & Systems Pvt Ltd, Fiserv Inc., Hitachi Payment Services Pvt. Ltd., LD Systems, Quality Data Systems Inc., TetraLink and Vocalink (Mastercard Inc).
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by ATM Type:
Conventional ATM and Bank ATM
White Label ATM
Brown Label ATM
Cash Dispenser
Smart ATM
Others
Breakup by Service Type:
ATM Replenishment and Currency Management
Network Management
Security Management
Incident Management
Others
Breakup by Location:
Onsite ATMs
Offsite ATMs
Worksite ATMs
Mobile ATMs
Regional Insights:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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