Global ATM Industry Growth, Analysis, Statistics, Trends, Research Report 2023: Fractovia.org ATM market share worth USD 12.5 billion in 2015, and it is reach over USD 26 billion by 2023, escalated by demand technological innovation and replacement. Expanding financial service industry along with growing transactional security concerns will stimulate ATM market share over the coming years of 2016 to 2023. The banking sector is significantly adopting ATM services to save transaction time during cash deposit/withdrawals, passbook printing, cash counter enquiries, etc. This, in turn, will generate escalating demand for ATM machines over the coming timeframe.
Moreover, expanding smartphone industry will create a notable scope for global ATM market, owing to the rising adoption of mobile-based cash withdrawal. The developing economies will play a prominent role towards the industry growth over the coming years, attributed to the growing need for financial inclusion across countries such as India, etc. Some of the renowned global entities such as federal reserve system, reserve bank, and European Union are willing to install security devices and standards to reduce the number of frauds, which, in turn, will boost ATM industry size. Banking and financial sector is expected to generate lucrative opportunity for ATM market over the coming years of 2016 to 2023. ATM solution market is mainly segmented into two types- deployment and managed services. Deployment solutions dominated the ATM industry share by accounting for 70% of the total industry volume in 2015 and is predicted to exhibit an annual growth rate of 9.4% over the period of 2016 to 2023. The growth can be attributed to its growing demand across the banking sector, owing to its flexibility and easiness while withdrawing cash. Additionally, expanding IT industry will further boost the deployment solutions market size. Managed services ATM market is anticipated to show an eyecatching growth over the coming years, driven by its increasing need for financial institutions. The benefit offered by managed services like low operational cost will increase profitability and reduce investment for financial institutes, thereby driving ATM market size noticeably. Taking into account the geographical trends, North America ATM market share will dominate the global landscape, owing to the huge number of replacement of aging 1|Page