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.
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.
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.
Financial service providers are focusing on delivering more functionality to consumers through the ATM channel by deploying automated deposit ATMs with intelligent deposit and cash recycling technology to improve customer satisfaction.
Owing to these factors, the above 15" subsegment is projected to register a double-digit market share in 2018 for the global Automated Teller Machine (ATM) market.
Based on the type, the Automated Teller Machine (ATM) market is subsegmented into off-site ATM, on-site ATM, and others. A quantitative increase in the number of banks in rural areas with the ATM facility and financial initiatives by various governments are some of the major factors promoting the growth of the Automated Teller Machine (ATM) market.
Furthermore, the off-site ATM subsegment is expected grow at a relatively higher CAGR during the forecast period. Moreover, despite the availability of cashless payment instruments such as debit or credit cards at the point of sale, cash remains the preferred mode of payment for customers for day-to-day small-value transactions in various countries across the globe, and this is one of the factors driving the Automated Teller Machine (ATM) market.
Click for more info @ https://www.persistencemarketresearch.com/market-research/atm-market.asp