Saudi Arabia ATM Market

Saudi Arabia ATM Market Overview:

The Saudi Arabia ATM market size reached USD 219.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 322.0 Million by 2033, exhibiting a growth rate (CAGR) of 3.90% during 2025-2033. The market is witnessing significant growth, driven by the expansion of digital banking and self-service technologies and the growth of cash recycling ATMs for enhanced operational efficiency.

Saudi Arabia ATM Market Trends:

Expansion of Digital Banking and Self-Service Technologies

The ATM market in Saudi Arabia is going through transformation with the swift expansion of digital banking and self-service technologies. The Kingdom's important Vision 2030 initiative has put emphasis on the development of the financial sector and digital transformation, and banks are therefore increasingly deploying state-of-the-art ATM solutions aimed at enhancing customer comfort and operational efficiency. Adoption of contactless, biometric authentication, and cardless cash withdrawal features are changing traditional ATMs to lessen the reliance on brick-and-mortar bank branches. For instance, in February 2025, Saudi Arabia’s first digital-only banks launched with rapid adoption. D360 Bank debuted in December 2024, followed by Vision Bank and STC Bank in January 2025, marking a major milestone in digital banking innovation. It is also an investment in smart ATMs AI-enabled and 'always-on' to help create a seamless banking experience for consumers. This newly-launched ATM does everything that an ATM typically does, including bills payment, funds transfer and check deposits, going beyond traditional cash dispensing services to accommodate customers' growing preferences for self-service banking. However, such trends in ATM deployment strategy are driven predominantly by the shift towards a cashless world-as a result of rising mobile banking and fintech solutions-with a stronger focus on hybrid models integrating physical between the bank and the consumer, online banking capabilities. Thus, as Saudi Arabia promotes the financial inclusion and digital literacy of its citizens, the remaining development in the future of the ATM market will be in the direction of utilizing automation and innovation by banks in enhancing access and security even within the financial ecosystem.

Growth of Cash Recycling ATMs for Enhanced Operational Efficiency

The Saudi Arabian ATM market is witnessing significant growth in cash recycling technology, driven by the need to optimize cash management and reduce operational costs. Cash recycling ATMs (CRMs) allow deposited cash to be automatically verified, sorted, and reused for withdrawals, minimizing the need for frequent cash replenishments and improving overall efficiency. This innovation aligns with the banking sector’s objective to enhance operational sustainability while ensuring seamless access to cash for customers. CRMs are gaining popularity among banks and financial institutions in Saudi Arabia due to their ability to reduce cash handling expenses, mitigate security risks, and streamline ATM maintenance. Additionally, the deployment of cash recycling ATMs supports the Kingdom’s broader efforts to modernize its financial infrastructure and improve banking accessibility in both urban and remote areas. The customer demand for efficient and secure banking services grows, financial institutions are accelerating, for instance, in February, 2024, the Saudi Central Bank (SAMA) has issued the second Open Banking Framework release, standardizing Payment Initiation Services (PIS) to enhance fintech growth, transaction efficiency, and consumer experience while ensuring security and compliance. Due to this, the rollout of CRMs, integrating them with digital banking solutions for a more comprehensive self-service experience. The expansion of cash recycling technology in Saudi Arabia’s ATM market reflects the industry's commitment to operational excellence and enhanced customer satisfaction while adapting to the evolving financial landscape.

Saudi Arabia ATM Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on solution, screen size, application, and ATM type.

Solution Insights:

• Deployment Solutions
  • Onsite ATMs
  • Offsite ATMs
  • Work Site ATMs
  • Mobile ATMs
• Managed Services

The report has provided a detailed breakup and analysis of the market based on the solution. This includes deployment solutions (onsite ATMs, offsite ATMs, work site ATMs, and mobile ATMs) and managed services.

Screen Size Insights:

• 15" and Below
• Above 15"

A detailed breakup and analysis of the market based on the screen size have also been provided in the report. This includes 15" and below and above 15".

Application Insights:

• Withdrawals
• Transfers
• Deposits

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes withdrawals, transfers, and deposits.

ATM Type Insights:

• Conventional/Bank ATMs
• Brown Label ATMs
• White Label ATMs
• Smart ATMs
• Cash Dispensers

A detailed breakup and analysis of the market based on the ATM type have also been provided in the report. This includes conventional/bank ATMs, brown label ATMs, white label ATMs, smart ATMs, and cash dispensers.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

A detailed breakup and analysis of the market based on the region have also been provided in the report. This includes Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia ATM Market News:

• In January 2025, The Saudi Central Bank (SAMA) authorized STC Bank to commence full operations, marking a milestone in Saudi Arabia’s digital banking sector. STC Bank, formerly STC Pay, transitioned after SAMA’s approval in April 2024. Following a nine-month beta phase, it is now set for full-scale banking services.
• In February 2023, American Express Saudi Arabia and Bank AlJazira have partnered to provide American Express Cardmembers access to over 600 ATMs across the Kingdom, enhancing convenience and expanding service locations, reinforcing American Express’s commitment to strengthening its presence and diversifying value offerings for customers in Saudi Arabia.

Saudi Arabia ATM Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia ATM market performed so far and how will it perform in the coming years? 
• What is the breakup of the Saudi Arabia ATM market on the basis of solution?
• What is the breakup of the Saudi Arabia ATM market on the basis of screen size?
• What is the breakup of the Saudi Arabia ATM market on the basis of application?
• What is the breakup of the Saudi Arabia ATM market on the basis of ATM type?
• What is the breakup of the Saudi Arabia ATM market on the basis of region?
• What are the various stages in the value chain of the Saudi Arabia ATM market? 
• What are the key driving factors and challenges in the Saudi Arabia ATM?
• What is the structure of the Saudi Arabia ATM market and who are the key players?
• What is the degree of competition in the Saudi Arabia ATM market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia ATM market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia ATM market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia ATM industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.