Portland, OR, Aug. 18, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global ATM managed services market generated $6.11 billion in 2019, and is estimated to reach $9.97 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
However, advent of digital payment platforms such Paytm and Google Pay is anticipated to restrain the growth of the market. Furthermore, increasing demand for ATMs in developing economies such as India and China is expected to create new growth opportunities for the market player during the forecast period.
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Covid-19 scenario:
- Banks have urged their customers not to visit their branches to avoid spread of Covid-19, and to use ATM-based services such as cash withdrawal, cash deposit, and transaction statement.
- The increased fear of infection through usage of high traffic ATM-based services has forced people to opt digital payment solutions. This is expected to decrease the demand for ATM managed services.
The report offers detailed segmentation of the global ATM managed services market based on service type, ATM locations, and region.
Based on service type, the ATM replenishment & currency management segment contributed to the largest share in 2019, accounting for around two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the security management segment is estimated to portray the highest CAGR of 7.9% during the forecast period.
Based on ATM locations, the offsite ATMs segment accounted for the largest share in 2019, holding around two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the mobile ATM segment is expected to register the highest CAGR of 8.1% from 2020 to 2027.
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Based on region, Asia-Pacific contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 8.1% from 2020 to 2027.
Leading market players analyzed in the research include Cardtronics, AGS Transact Technologies Ltd., Euronet Worldwide, Inc., Diebold Nixdorf, Incorporated, Fiserv, Inc., Financial Software & Systems Pvt. Ltd., Hitachi Payment Services Pvt. Ltd., FUJITSU, NHAUSA, and NCR Corporation.
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