Global ATM Managed Services Market to Reach US$ 12.5 Billion by 2032, Fueled by Significant Growth of BFSI Sector

April 20, 2023 | BFSI

According to the latest report by IMARC Group, titled “­­ATM Managed Services Market Report by ATM Type (Conventional ATM and Bank ATM, White Label ATM, Brown Label ATM, Cash Dispenser, Smart ATM, and Others), Service Type (ATM Replenishment and Currency Management, Network Management, Security Management, Incident Management, and Others), Location (Onsite ATMs, Offsite ATMs, Worksite ATMs, Mobile ATMs), and Region 2024-2032,” the global ATM managed services market size reached US$ 8.2 Billion in 2023. Automated teller machine (ATM) managed services refer to outsourcing ATM operations and management to a third-party service provider. These services typically include maintenance and repair, monitoring and managing ATM networks, deposit collection, cash replenishment, currency management, electronic product delivery, surcharging options, disaster recovery, full-service adjustment processing, and anti-skimming monitoring facilities. In addition to this, ATM managed services provide camera security, bill payment, cardless transaction, and cash withdrawal and transfer as additional features. Outsourcing ATM operations and management offers better efficiency and cost savings, improved ATM uptime and availability, and access to advanced monitoring and analytics tools, which can help optimize overall ATM performance and enhance cardholder satisfaction.

Global ATM Managed Services Market Trends:

With the bolstering growth of the banking, financial, services, and insurance (BFSI) sector, there has been an increasing demand for advanced ATM services to access various complex operations. This, in turn, represents the primary factor driving the global ATM managed services market growth. Besides this, the rising use of money transaction machines and the surging uptake of debit cards by consumers are supporting the market growth. Moreover, the increasing incidence of fraudulent activities, such as magnetic stripe skimming, and the escalating consumer concerns regarding security and maintenance are creating a positive outlook for the market. In addition to this, the implementation of numerous favorable initiatives by governments of several countries inhibiting the use of magstripe cards and promoting the adoption of Europay, MasterCard, and Visa (EMV) chips for enhanced authentication is acting as another growth-inducing factor. Furthermore, the increasing utilization of innovative and advanced technologies, such as blockchain, near-field communication (NFC), quicker response (QR), and artificial intelligence (AI) in ATM managed services, are aiding in market expansion. Concurrent with this, the advent of self-service software and the large-scale integration of mobile-based technologies and the Internet of Things (IoT) solutions are contributing to the market growth. Other factors, such as rapid digitization, strategic collaborations amongst financial institutions, and the expanding adoption of cash recycling technologies, are presenting remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 12.5 Billion by 2032, expanding at a CAGR of 4.6% during 2024-2032.

Market Summary:

  • On the basis of the ATM type, the market has been segregated into conventional ATM and bank ATM, white label ATM, Brown label ATM, cash dispenser, smart ATM, and others. Among these, cash dispenser ATM holds the largest market share.
  • Based on the service type, the market is categorized into ATM replenishment and currency, network management, security management, incident management, and others.
  • On the basis of the location, the market has been classified into onsite, offsite, worksite, and mobile ATMs. Currently, offsite ATMs represent the biggest market segment.
  • Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. At present, Asia-Pacific enjoys the leading market position.
  • The competitive landscape of the market has also been examined, with some of the key players being 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).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage ATM Type, Service Type, Location, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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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Global ATM Managed Services Market to Reach US$ 12.5 Billion by 2032, Fueled by Significant Growth of BFSI Sector
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