The global Automated Teller Machine (ATM) market is expected to reach $26.40 billion by the end of 2025, according to a new study on, “2018-2025 ATM Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast”, published by Wise Guy Reports Database.
According to the report, the global ATM was valued at $13. 70billion in 2017 and is expected to grow at Compound Annual Growth Rate (CAGR) of 9.8per cent between 2018 and 2025.
The report studies the global ATM market status and forecast, categorizes the global ATM market size (value & volume) by manufacturers, type, application, and region. It also focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other regions. The major manufacturers covered in this report include, NCR, Diebold, GRG Banking, Nautilus Hyosung and Euronet Worldwide.
According to the report, enhanced security standards for safer online, and physical financial transactions have led to a significant rise in the use of ATMs. Also, continuation of strict security standards and safer modes of financial transactions are expected to have a substantial impact on the industry growth.
Similarly, the report noted that automation of the basic financial transactions and technological advancements are increasing at alarming rate and would increase mobile transactions among the customers, pointing out that linkage of ATMs with wireless devices would enable customers to complete transactions securely.
In addition, it stated that rising competition amongst banks to increase ATM penetration, would lead to its huge installation base, thus offering lucrative growth opportunities for the industry. In order to reduce the frauds, manufacturers and financial institutions are opting for anti-skimming, biometric devices, and voice recognition systems, the report pointed out.
* View original article from New Telegraph at https://newtelegraphonline.com/2018/06/global-atm-market-to-hit-26-40bn-by-2025/