Marrying smart phones with ATMs is spurring the ATM market big time. New research shows the ATM market in Asia Pacific is in a developing phase. China, for instance, has tripled its ATM installations from 130,000 in 2007 to 339,000 in 2011.
According to new report by Allied Market Research titled “Global ATM Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020”, the global ATM market would reach $21.9 billion by 2020, registering a CAGR of 7.6%.
The diverse services and offerings in financial transactions are the major drivers for the global ATM market. Thefts, online frauds, and network connectivity issues while using mobile ATMs & smart ATMs, are some of the major threats to the growth of the ATM market. The growing use of solar powered ATM machines is reducing the cost of ATMs, leading to minimal operational cost. According to the “Federal Reserve System”, ATM market in developed countries such as U.S, UK, Canada and France has attained state of maturity, while the “Reserve Bank of India” forecasts a rapid growth of ATM market in emerging countries.
Deployment of ATMs at different locations such as Onsite, Offsite, Worksite and the accessibility to Mobile ATMs have facilitated 24*7 availability of banking services to the customers that creates an avenue for promotional activities to the banks concerned. Brown label ATM, allows the banks to focus on their core business, as the hardware and its lease is owned by third party vendors, and the cash management & network connectivity is owned by the bank, eventually reducing the operational cost of the ATM’s.
The introduction of white label ATMs in the developing countries would propel the ATM markets in the years ahead. As an example, the Independent ATM deployer (IAD) viz., Tata Communications Payment Solutions Limited has launched a white label ATM – “Indicash”, to provide better banking services to the customers. IADs in the North American region account for more than 50% of ATMs. Whereas, in Western Europe, Asia Pacific, and LAMEA, it accounts for about 12%. The widespread installation of ATMs around the globe has led to a need for managed services. Therefore, different market players such as NCR Corporation, Wincor Nixdorf, Fujitsu and Diebold Incorporation are capitalizing on the prevailing market opportunities by offering managed services for ATMs.
For data, background and forecasts on the ATM Market: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).