News

Study predicts slow growth for U.S. ATM Makers

April 16, 2012

Industry research firm IBISWorld today announced the release of a new study of ATM manufacturing in the United States. The study forecasts minimal growth for ATM producers through 2017 and that they will shift focus to software rather than hardware as a result.

The study predicted industry revenues would show an annual rate of decline of 5.6 percent from the beginning of 2008 to the end of 2012, with annual revenues falling to $2.05 billion. "[T]his rate has been pulled down by particularly negative conditions in 2008 and 2009," said IBISWorld analyst Brian Bueno in the release.

The study said revenues for U.S. ATM manufacturers will increase by only 0.7 percent in 2012, and by just 0.9 percent (to $2.15 billion annually) through 2017. The forecast sluggish growth was attributed to an influx of ATMs purchased from offshore providers.

Simultaneously some of the industry's major players have opened their own production facilities overseas, the study found. It indicated a continuation of this trend as U.S. manufactures work to accommodate demand in fast-growing ATM markets in emerging economies.

The IBISWorld study includes overviews of the ATM manufacturing industry in general, its performance and outlook, products and markets, globalization, operating conditions, and key statistics.

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