Implementation of digitalized technologies and rise in
adoption of ATM managed services has boosted the global ATM managed
services market
PORTLAND, Oregon, July 9, 2020 /PRNewswire/ -- Allied Market
Research recently published a report, "ATM Managed Services
Market by Service Type (ATM Replenishment & Currency
Management, Network Management, Security Management, Incident
Management, and Others), and ATM Location (Onsite ATMs, Offsite
ATMs, Worksite ATMs, and Mobile ATMs): Global Opportunity Analysis
and Industry Forecast, 2020–2027". According to the report, the
global ATM managed services industry held $6.11 billion in 2019, and is projected to
reach $9.97 billion by 2027,
growing at a CAGR of 6.5% from 2020 to 2027.
Drivers, restraints, and opportunities
Implementation of digitalized technologies, increase in debit
cards usage & demand for advanced ATM services, and rise in
adoption across various geographies have boosted the global ATM
managed services market. However, lack of security standards and
emergence of digital transactions hamper the market. On the
contrary, untapped potential of emerging economies and
technological development would offer opportunities for the market
players in the coming years.
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Covid-19 scenario: The recent outbreak of Covid-19 has
greatly affected the global ATM managed services market.
- During the ongoing pandemic, banks are carefully investing
their assets. ATM managed services extend bank's brand without
needing to fully invest in every aspect of an ATM program.
- By investing more on managed services, banks can cope with the
repercussions of the pandemic, which would be beneficial
post-pandemic.
ATM replenishment & currency management segment held the
largest share
By service type, the ATM replenishment & currency management
held the largest share in 2019, accounting for around two-fifths of
the market, owing to rise in advanced ATM monitoring tools, live
track on cash status, and direct access to accountability for
currency management. However, security management segment is
expected to register the highest CAGR of 7.9% during the forecast
period, due to rise in awareness towards security measures for ATM
machines and implementation of advance technologies.
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Mobile ATMs to manifest highest CAGR through 2027
By ATMs location, the mobile ATMs segment is expected to
register the highest CAGR of 8.1% during the forecast period, as it
provides convenience of cash transactions at various events such
social gathering, trade fairs, international conferences, seminars,
and events. However, the offsite ATMs segment held the largest
share in 2019, accounting for around two-fifths of the market, due
to public & private sector banks integrating offsite ATMs to
increase their service network across various locations.
Asia-Pacific, followed by
North America, dominated the
market
By geography, the market across Asia-Pacific held the largest share in
2019, contributing to more than two-fifths of the market, due to
rise in number mergers & acquisitions particularly in banking
sector across countries such as Australia, Japan, China,
and India. However, the market
across LAMEA is expected to portray the highest CAGR of 8.1% during
the forecast period, owing to the banks in the region provide new
and diverse services to their customers by adapting new
technologies such as biometric security and contactless technology
for securing ATM transactions and minimization of the risk of card
skimming in the region. The market across North America held nearly one-fourth of the
market in 2019.
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Major market players
- AGS Transact Technologies Ltd.
- Diebold Nixdorf
- Cardtronics
- Euronet Worldwide, Inc.
- Incorporated
- Fiserv, Inc.
- Financial Software & Systems Pvt. Ltd.
- Hitachi Payment Services Pvt. Ltd.
- FUJITSU
- NHAUSA
- NCR Corporation
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