The automated teller machine (ATM) market is forecast to grow at a CAGR of 7.8% during the forecasted period. The Automated Teller Machine (ATM) market, which was valued at US$ 16,749.0 Mn in 2017, is anticipated to expand significantly to US$ 33,203.8 Mn by 2026 as a result of the expansion of the banking sector as well as financial policies put in place by governments around the world.
Persistence Market Research (PMR) recently published a report titled “Automated Teller Machine (ATM) Market – Global Industry Analysis 2013-2017 and Market Forecast 2018-2026.” The deployment of Automated Teller Machines (ATMs) is increasing owing to improvements in the rural banking network in developing economies.
An Automated Teller Machine (ATM) is an electronic banking outlet that allows customers to complete basic financial transactions without the aid of a branch representative or teller. Anyone who possesses a credit card or debit card can access most ATMs.
In this report, PMR has segmented the global Automated Teller Machine (ATM) market on the basis of screen size, type, and region. By screen size, the market is subsegmented into 15″ and below and above 15″. Due to the increasing demand for multifunctional ATMs, the 15″ and below subsegment was valued at 12,813.0 Mn in 2017.
The 15″ and below subsegment of the Automated Teller Machine (ATM) market is also projected to grow with a moderate growth rate during the forecast period. Furthermore, due to an increase in the number of physical cash transactions and a quantitative increase in mobile ATMs in developed and developing countries, the 15″ and below subsegment is also estimated to present high revenue growth opportunities for the vendors of Automated Teller Machines (ATMs).
Moreover, growth in the number of adults who own bank accounts, increase in investments for expanding the banking network, and growth in the number of foreign investments in the banking sector are some of the factors expected to boost the demand for Automated Teller Machines (ATMs) across the word.
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