According to a recent report published by Allied Market Research, titled, “ATM Managed Services Market by Service Type, and ATM Location: Opportunity Analysis and Industry Forecast, 2020-2027,” the global market was valued at $6.1 billion in 2019, and the ATM managed services market size is projected to reach $9.9 billion by 2027, growing at a CAGR of 6.5% from 2020 to 2027.
Increased in implementation & adoption of digitalized technologies such as self-service software, EVM chip cards, mobile-based technology, Internet of things (IoT), and others provide easy access to several complex services such as transfer of money between accounts, check clearance, and bill transfer, among others. Thus, to enhance revenues and provide convenience & efficiency services, and reduce operational cost, banks, financial institutions, and others are integrating digitalized technologies for their installed ATM machines. This is a major factor driving the ATM managed services market growth. In addition, rise in debit card usag
