Global
ATM Market: Brief Description
ATM
is the abbreviated form of automated teller machine. It is popularly
known by many names such as automated banking machine, cash line,
cash machine, and cash point. The global market for ATM has been
significantly growing over the last couple of years. Irrespective of
time and geography, an ATM allows users to make cash transactions
using a card. The transactions can be performed entering the personal
identification number of the card, the expiry date of the card, or in
the case of any online transaction, a 3D security pin. All the
numeric combinations are unique for every respective card and its
user.
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This
industry research report is a brief review of the growth trail in
terms of current, historical, and future scenarios of the global ATM
market. It offers an evaluation of the aspects that are expected to
influence the development of the market and the primary trends have
also been specified in the research study. The research study also
offers a broad lookout on the vendor landscape of the market through
Porter’s five forces analysis. The research publication provides
references of mergers and acquisitions, the research and development
activities, specifics on licensing and collaborations. The report
probes into the strategies related to marketing, shares, and product
portfolio of the key participants in the global ATM market.
Global
ATM Market: Trends and Prospects
Since
the advent of automated teller machines in the banking system, the
global market for it has been incessantly growing. The prime aspects
that are expected to drive the demand of ATM in the near future are
the easy flow of cash, transactional benefits, quick withdrawals, and
feasibility of offline and online shopping. It is also convenient for
foreign travelers as it allows them in converting foreign money into
the desired local currency. An ATM is the most secure and safe way of
travelling as it provides cashless facility. Onsite ATMs are set up
in bank premises where both the physical bank and machines can be
used by customers. These machines also help in reducing the workload
of the bank staffs and also aid in avoiding long queues for cash
deposits, withdrawals, and cash transfer. By reducing the frequency
of errors, it helps the banks in having smooth financial
transactions.
However,
the market is expected to be hindered by factors such as misuse of
the ATM
pin, dispense of extra cash which causes a loss to the bank, and
tampering which makes room for theft, fraud, and scams.
Global
ATM Market: Regional Outlook
The
market for ATM is expected to have high potential in North America
and Europe over the next couple of years and is also expected to soon
reach saturation. The Middle East and Africa and Asia Pacific is also
likely to exhibit significant growth capacity in the near future
owing to the rising demand for advanced interactive machines. The
cash based economy of the Middle East and Africa region is
anticipated to bode well for the market in the region.
Global
ATM Market: Vendor Landscape
The
leading companies in the market are NCR Corp., Triton Systems of
Delaware LLC, Diebold Inc., and Wincor Nixdorf AG.
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