IMARC Group, a leading market research company, has recently releases report titled “ATM Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ATM Managed Services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is The ATM Managed Services Market?
The global ATM managed services market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
What are ATM Managed Services?
Automated teller machine (ATM) managed services, also known as ATM as a service, are comprehensive services offered to numerous financial institutions and banks. Some commonly used ATMs include smart cash dispensers, brown and white labels, and conventional bank ATMs. They provide electronic product delivery, disaster recovery, surcharging options, currency management, full-service adjustment processing, deposit collection, and anti-skimming monitoring facilities.
These services also offer cardless transactions, cash withdrawals and transfers, bill payments, and camera security. In addition, they reduce operating costs, improve customer service, simplify network operation, reduce downtime, provide reliable service and quick response to service call, and enhances overall profitability and performance. As a result, ATM-managed services are gaining traction across the globe..
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What Are The Growth Prospects And Trends In The ATM Managed Services Industry?
The market is primarily driven by the increasing demand for advanced ATM services to manage complex operations such as fund transfer, deposit, and cash withdrawal 24×7 across the globe. In addition, the expanding banking, financial, services, and insurance (BFSI) sector and increasing utilization of enhanced security measures such as biometric and one-time password authentication systems to prevent fraud are contributing to the market growth.
Moreover, various technological advancements, such as the introduction of mobile-based technologies, quicker response (QR) codes, artificial intelligence (AI), blockchain, and the internet of things (IoT) solutions with ATM-managed services, represent another major growth-inducing factor. Besides this, governments of several countries are taking initiatives to promote the uptake of magstripe cards by using Europay MasterCard and Visa (EMV) chips for improved authentication is providing a positive thrust to the market growth. Furthermore, rapid digitizations, the advent of smart ATMs for users with special needs, and strategic collaborations among financial institutions are also creating a favorable market outlook.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by ATM Type:
- Conventional ATM and Bank ATM
- White Label ATM
- Brown Label ATM
- Cash Dispenser
- Smart ATM
Breakup by Service Type:
- ATM Replenishment and Currency Management
- Network Management
- Security Management
- Incident Management
Breakup by Location:
- Onsite ATMs
- Offsite ATMs
- Worksite ATMs
- Mobile ATMs
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who Are The Key Players Operating In The Industry?
The report covers the major market players including:
- AGS Transact Technologies Ltd.
- Cardtronics Inc. (NCR Corporation)
- CMS Info Systems Ltd.
- Diebold Nixdorf Incorporated
- Electronic Payment
- and Services Private Limited
- Euronet Worldwide Inc.
- Financial Software & Systems Pvt Ltd
- Fiserv Inc.
- Hitachi Payment Services Pvt. Ltd.
- LD Systems
- Quality Data Systems Inc
- TetraLink and Vocalink (Mastercard Inc).
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