ATM Market share forecast to reach; USD 26 billion by 2023: Global Market Insights Inc. According to the new research report “ATM Market Size By Solution (Deployment [Onsite, Offsite, Worksite, Mobile], Managed Services), Industry Analysis Report, Regional Trends, Application Potential, Competitive Market Share & Forecast, 2016 - 2023�, says that ATM Market share to hit USD 26 billion by 2023; according to a new research report by Global Market Insights, Inc. Increasing involvement of customers with the banking and financial organizations will drive automated teller machine market size over the forecast timeline. Consistent government and institutional efforts to reduce the underbanked and unbanked population in the emerging economies will favor industry growth. Shift from class banking to mass banking through inclusive finance, owing to increased user interest for self-service channels is likely to provide significant growth opportunities over the forecast period. Rising need to provide convenient banking for consumers to gain competitive edge over other financing institutes will drive the ATM market share.
Increasing penetration in the economically stabilizing economies specifically in the BRIC nations is expected to present potential growth avenues over the forecast timeline. The requirement to cater to growing cash demand in these regions, banks and financing organizations is expected to increase investment. Small value businesses functioning on cash payments, managing low valued transactions through personal budgeting or cash will also catapult the ATM market size. Technological standards are formulated by Scrutiny Standards Council (SSC), International Organization for Standardization (ISO), European payment council (EPC), American National Standards Institute (ANSI), and Payment Card Industry (PCI). Moreover, the current versions of PCI PIN Security Requirements and PCI PTS POI Security Requirements are the most accepted standards.
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