Innovation

ATM market to grow by $5.64B

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February 15, 2024

The ATM market will grow by $5.64 billion from 2022 to 2027, according to a press release from Technavio. It will also grow at a compound annual growth rate of 4.56%.

The primary factors driving growth are an increase in multifunctional ATMs and demand for banking services. North America will contribute 52% to the market's growth, according to the release.

The bank ATM growth will see significant growth during the forecasted period as well, especially due to initiatives to improve financial inclusion, according to the release.