The ATM Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s ATM Global Market Report 2024, The atm market size has grown steadily in recent years. It will grow from $36.97 billion in 2023 to $38.39 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to rise in cash transactions, expansion of banking networks, growing population and urbanization, increasing consumer convenience, financial inclusion initiatives.
The atm market size is expected to see steady growth in the next few years. It will grow to $44.5 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to growing cash usage trends, global economic growth, evolution of banking services, government initiatives and policies, adaptation to changing consumer behaviors. Major trends in the forecast period include focus on accessibility and inclusion features, cash recycling and deposit automation, remote atm management and monitoring, enhanced user experience with interactive interfaces, sustainability initiatives in atm design and operation
The increasing consumer usage of ATMs is expected to drive the growth of the ATM market going forward. Customers in many countries select cash as their preferred method of payment due to its convenience. As technology evolves, customers are looking for ways to access cash that are faster, more dependable, safe, and convenient. Customers can bank anywhere, at any time, using ATMs, which are self-service vending devices. ATMs help users save time, money, and effort by lowering transaction costs and increasing accuracy and speed. For instance, according to the National Cash Systems report published in 2021, 40% of the population in the United States uses an ATM 8-10 times per month, with an average of 300 times per month. In addition, every year, around 10 billion transactions are performed at ATMs in the US. Thus, the growing usage of ATMs by consumers will contribute to the growth of the ATM market.
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The atm market covered in this report is segmented –
1) By ATM Type: Location Based ATM, Operation Based ATM
2) By Solution: On Site, Off Site, Work Site, Mobile
3) By Operation: White Label, Green Label, Yellow Label
4) By Application: Withdrawal, Transfer, Deposits
The introduction of Smart ATMs is a recent trend gaining popularity in the ATM market. Smart ATMs are automated teller machines (ATMs) that can do more than just disburse money. Smart ATMs allow for the implementation of cutting-edge technologies that improve the customer experience while also minimizing fraud. For example, in October 2021, Nations Trust Bank, a Sri-Lankan-based Bank, launched the first Smart ATM in Sri Lanka. The new machine is powered by technology and innovation to deliver a unique banking experience, allowing users to withdraw their preferred mix of currency notes to pay for bus or train tickets or eat at the MMC’s restaurants. Commuters on the go will be able to save regularly used operations such as withdrawals, bill payments, and cash transfers as favorites, saving time and unnecessary annoyance, owing to capabilities supplied by smart ATMs.
The atm market report table of contents includes:
1. Executive Summary
2. Athletic Footwear Market Characteristics
3. Athletic Footwear Market Trends And Strategies
4. Athletic Footwear Market – Macro Economic Scenario
5. Global Athletic Footwear Market Size and Growth
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26. South America Athletic Footwear Market
27. Brazil Athletic Footwear Market
28. Middle East Athletic Footwear Market
29. Africa Athletic Footwear Market
30. Athletic Footwear Market Competitive Landscape And Company Profiles
Top Major Players:
- Nike Inc
- Adidas AG
- Lining
- VF Corporation
- Puma SE
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