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Global ATM market to be worth nearly $25B by 2022

Rising competition among banks is expected to provide a huge base for installations, offering lucrative growth opportunities, study author Grand View Research says.

December 15, 2015

The global ATM market is projected to reach a value of $24.92 billion by 2022, according to  "ATM Market Analysis by Solution (Managed Services, Deployment) and Segment Forecasts to 2022," a new study by Grand View Research Inc.

Demand for automated wireless communication devices and rising security standards are expected to drive growth, a company press release said. 

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The automation of basic financial transactions and fast-paced technological advancements will promote greater use of mobile transactions — particularly ATM transaction prestaging.

Rising competition among banks is expected to provide a huge base for installations, offering lucrative growth opportunities, Grand View said.

In order to reduce fraud, manufacturers and financial institutions will opt to use anti-skimming, biometric and voice recognition solutions.

Additional findings from the study:

• Deployment accounted for more than 70 percent of industry revenue in 2014 (the study divides the ATM market into two segments: deployment solutions and managed services). Grand View predicted that expansion of the installation base and increasing maintenance activities will continue to drive segment growth.
• The ATM managed services market is expected to swell, with a compound annual growth rate of more than 11 percent from 2015 to 2022. This will contribute significantly to a stronger infrastructure for multichannel delivery, according to the release.
• The North American ATM market dominated in terms of revenue in 2014, but is expected to lose share by 2022. Adoption of smart machines is expected to drive growth.
• The ATM industry in Asia Pacific is expected to grow at a substantial growth rate of more than 12 percent from 2015 to 2022, Grand View said. Rising demand for self-service machines and an increasing customer base across China and India are predicted to drive the regional demand over the next seven years.

​Further information about the study is available at grandviewresearch.com