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Study: Brazil's ATM market will grow at CAGR of 14.5 percent from 2011 to 2015

September 5, 2012

Research and Markets has announced the addition of the report, "ATM Market in Brazil 2011-2015," to their offering. The 48-page publication was issued on August 23, 2012, by research firm TechNavio.

Based on their research, TechNavio analysts forecast that the ATM market in Brazil will grow at a CAGR of 14.5 percent over the period 2011-2015. A key factor contributing to growth is the increasing demand for highly secure ATM networks.

The report also finds that the ATM market in Brazil has seen a rise in the preference for cashless ATMs. However, the availability of alternative payment modes could pose a challenge to the growth of this market.

"The key reasons for the growing interest toward cashless ATMs are the minimized risk of cash mishandling and the security and confidence that customers gain through these devices," said an analyst from TechNavio's Hardware team. "Moreover, cashless ATMs benefit both merchants as well as customers. Merchants need not pay any transaction fees, so the cost for the cash received through cashless ATMs is zero for merchants. Further, from banks' or retail outlets' point of view, the maintenance cost of cashless ATMs is less than that of traditional ATMs."

The report also discusses challenges that have emerged mainly from advancements in technology and loopholes, allowing hackers to take advantage of that technology to loot money from ATMs.

For more on this topic, visit the trends/statistics research center.