Portland, OR, Oct. 30, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global multivendor ATM software market accounted for $1.14 billion in 2019 and is projected to reach $6.23 billion by 2026, registering a CAGR of 23.6% during the forecast period.
Ongoing modernization of older ATM estates, rise in demand for modern ATM software and hardware, and surge in awareness regarding benefits of multivendor ATM software are the major drivers of the global multivendor ATM software market. However, limitations in terms of ATM management and complexity in working with ATM suppliers hinder the market growth. On the contrary, advent of new technologies such as QR codes, contentless payments, and touch screens are estimated to create new opportunities for the market players in the future.
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The global multivendor ATM software market is divided on the basis of component, function, end user, and geography. Based on component, the market is segmented into software and service. The service segment is estimated to manifest the fastest CAGR of 25.8% during the forecast period. However, the software segment held the largest share in 2018, accounting for nearly three-fifths of the market.
On the basis of function, the market is categorized into bill payment, card payment, cash/cheque dispenser, cash/cheque deposit, passbook printer, and others. The cash/cheque dispenser segment held the lion’s share in 2018, contributing more than two-fifths of the market.
Based on end user, the market is bifurcated into banks & financial institutions and independent ATM deployer. The independent ATM deployer segment dominated the market in 2018, contributing more than half of the market and is anticipated to register the fastest CAGR of 24.8% during the forecast period.
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The global multivendor ATM software market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is projected to portray the fastest CAGR of 30.5% during the forecast period. However, the market across Europe held the largest revenue in 2018, accounting for more than two-fifths of the market.
The report provides an in-depth analysis of the market players such as:
- Clydestone Group
- Auriga SpA
- GRGBanking
- Diebold Nixdorf
- Incorporated
- Nautilus Hyosung America, Inc.
- KAL
- Printec Group
- NCR Corporation
- Vortex Engineering Pvt. Ltd., Incorporated.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.