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Automated Teller Machine Market size to grow by USD 5.64 billion from 2022 to 2027; Multifunctionality features of ATMs boosts the market growth - TechnavioNEW YORK, Feb. 6, 2024 /PRNewswire/ -- The automated teller machine market is estimated to grow by USD 5.64 billion from 2022 to 2027, growing at a CAGR of 4.56%. The automated teller machine market is fragmented owing to the presence of many global and regional companies. The multifunctionality features of ATMs drive the market growth. As the banking industry is rapidly growing and there is a rise in demand to deal with the growth in banking-related services and queries, and therefore, ATMs offer an alternative to such services.
A few prominent companies that offer automated teller machine market are Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., G4S Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., Lipi Data Systems Ltd., NCR Corp., Oki Electric Industry Co. Ltd., Paycorp Investments Proprietary Ltd., Source Technologies, SPL Computer Trading GmbH, The Brinks Co., and Triton Systems. The market is segmented by type (brown label, white label, and others), deployment (offsite ATM, onsite ATM, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
By Geography, the market is classified as Nrth America, APAC, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market. North America is estimated to contribute 52% to the growth of the global market during the forecast period. The ATM market in North America is fuelled by the increasing need to reduce manual operations. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
The market share growth by the brown label segment is significant during the forecast period. In brown label segment, governments across the world are becoming increasingly cognizant of the potential of brown-label ATMs to broaden financial inclusion, particularly in rural areas. Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report Automated Teller Machines (ATMs) Applications Automated Teller Machines (ATMs) have revolutionized the banking landscape, offering various applications beyond traditional cash withdrawals. The ATM industry has evolved to encompass self-service banking kiosks and digital banking solutions, contributing to financial technology advancements. ATM manufacturers continually innovate, integrating features such as contactless payments, biometric authentication, and cardless transactions. Trends in the ATM market reflect the deployment of sophisticated banking automation, electronic funds transfer capabilities, and enhanced security systems. Related Reports: The personal travel accident insurance market size is forecast to increase by USD 37.6 billion, at a CAGR of 6.66% between 2023 and 2028. TOC: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Segmentation by Type 7 Segmentation by Deployment 8 Customer Landscape 9 Geographic Landscape 10 Drivers, Challenges, and Trends 11 Company Landscape 12 Company Analysis 13 Appendix About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact US: Technavio Research
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