Overview and Scope
A next-gen ATM is an updated and more advanced version of the traditional ATM. These ATMs are designed to provide a more personalized and streamlined user experience, with features including streamlined user experience or user interface designs, updated and customized functionality, remote maintenance, and management.
Sizing and Forecast
The next-gen atm market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased demand for digital banking solutions, increasing cardless transactions, increased adoption of mobile wallets, increased spending power, increasing disposable income.
The next-gen atm market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increasing demand for tailored services and experiences for customers, increasing efficiency and reduced costs for financial institutions, increasing adoption of smartphones, growing adoption of internet services. Major trends in the forecast period include integration with mobile banking apps, personalized and user-customized experience, api-based architecture, product innovations, and market expansion.
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Segmentation & Regional Insights
The next-gen atm market covered in this report is segmented –
1) By Type: Cash Dispensers, Deposit ATMs, Cash Recycling ATMs, Self-Service ATMs, Self-Service Kiosks, Mobile ATMs, Other Types
2) By Solutions: Deployment, Managed Services
3) By Technology: Contactless, Voice Recognition, Biometrics, Video Banking, AI (Artificial intelligence) And IoT (Internet of Things) Integration
4) By Application: Bank Service Agent, Bank, Retail, Enterprises
North America was the largest region in the next-gen ATM market in 2023. The regions covered in the next-gen atm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the value of consumers’ purchasing power parity (PPP) is expected to propel the growth of the next-gen ATM market going forward. Purchasing power parity (PPP) represents a prominent macroeconomic statistic that compares various nations’ currencies using a basket of goods method. PPP exchange rates are relatively stable over time, unlike market rates which are more volatile and provide a more accurate measure of the relative economic productivity and standards of living between countries than market exchange rates that can help next-gen ATMs make more informed decisions about where to expand their operations. For instance, according to the Energy Information Administration, a US-based primary federal statistical system organization, the purchasing power annual average index value in 2021 is 270.97, while for the year 2022 found to be 292.66. Therefore, the rise in the value of consumers’ purchasing power parity (PPP) is driving the next-gen ATM market.
Key Industry Players
Major companies operating in the next-gen atm market report are Fujitsu Limited, NCR Corporation, AIB Group plc, Diebold Nixdorf Inc., Euronet Worldwide Inc., OKI Electric Industry Co. Ltd., Hyosung Corporation, ACI Worldwide Inc., EZ Energy USA Inc., GRG Banking Equipment Co. Ltd., Bancsource, Hitachi Payment Services Pvt. Ltd., Nautilus Hyosung America Inc., Monex Financial Services Ltd., Invenco Group Ltd., Aevi International GmbH, HESS Cash Systems GmbH, Puloon Technology Inc., Triton Systems of Delaware LLC, Spinnaker International Ltd., Ark Technologies Group, Citywide ATM Inc., Unified Payments Services Ltd., Genmega Inc., Sharenet Inc., Cypress Advantage, TEKchand Pty Ltd.
The next-gen atm market report table of contents includes:
1. Executive Summary
2. Next-Gen ATM Market Characteristics
3. Next-Gen ATM Market Trends And Strategies
4. Next-Gen ATM Market – Macro Economic Scenario
5. Global Next-Gen ATM Market Size and Growth
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32. Global Next-Gen ATM Market Competitive Benchmarking
33. Global Next-Gen ATM Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Next-Gen ATM Market
35. Next-Gen ATM Market Future Outlook and Potential Analysis
36. Appendix
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