Global ATM market to reach $28.98B

The global ATM market will grow to $28.98 billion by 2028, growing at a compound annual growth rate of 4.7% from 2022 to 2028, according to research from Research and Markets. The market was valued at $20.9 billion in 2021, according to a press release.

Key findings include:

• Competition in banking to deliver better services.
• Smart ATMs with biometric and one-time password systems.
• Demand for convenient locations has grown.
• Increase in new bank accounts in growing markets like India, China and Brazil.
• Cost and decrease in cash usage is restraining market growth.