India ATM Cash Management Market Forecast to 2023 – Ken Research The report titled “India ATM Cash Management Market Forecast to 2023 - by ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing” provides a comprehensive analysis of India ATM Cash Management Services market introduction and genesis, market size by revenue and working model. The report provides competitive landscape of major players in India Cash Management Services market such as CMS Info System, SIS Prosegur, Brink’s Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash. The report also covers future projections. The report is useful for ATM Managed service providers, Cash management companies, ATM Manufacturers, White Label ATM Management companies, Banks, Reserve Bank of India (RBI), ATM Switch companies, Cash Reconciliation companies, Digital payments merchants and other stake holders to align their market centric strategies according to ongoing and expected trends in the future.
Market Overview: Until 2000s, banks were offering the ATM services only to their branch customers. With the aim to progress towards a cashless economy, the banks enabled the concept of branchless banking and hence allowed their account holders as well as non-account holders (belonging to other banks) to withdraw cash from their ATMs. Post 2010, banks started to outsource management of ATM to specialized ATM managed services companies. This initiative has helped banks to enhance their penetration in rural and urban areas, on the onset of rising competition among public, private and foreign banks and the quest of RBI to strengthen the financial sector. Currently ATM Cash management services market is at a developing stage. The Cash Management Services Market is moderately fragmented among top 6-7 players which constituted majority of the revenue share though there are number of smaller players existing in the market.