The mobile ATM market is projected to grow at a CAGR of 5% during the forecast period of 2023 to 2030. For the purpose of reducing traffic in busy areas like trade shows, social gatherings, and sporting events, mobile ATMs are moveable ATM systems. Mobile ATMs give banking institutions the flexibility and improve branding and promotion. Automated teller machines (ATMs) provide a dependable, user-friendly interface for withdrawing cash as well as features that make it simple to deposit, withdraw, and access cash 24 hours a day. With technological improvements, users are looking for safe, quick, accessible, and trustworthy ways to obtain cash, encouraging the global adoption of ATMs. Additionally, the introduction of Smart ATMs for users with special needs and enhanced security measures, such as biometric and one-time password authentication systems to prevent fraud, both contribute to market expansion. The increase in demand for automation in the banking sector in several developed and emerging countries is also expected to fuel the demand for ATMs.

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Due to its simplicity, cash is frequently the preferred method of payment by consumers worldwide. With technological improvements, customers are looking for quicker, more dependable, secure, and convenient ways to access money, which is a major factor boosting the growth of the worldwide ATM market. Additionally, rising costs for handling, administering, and transporting ATMs as well as ATM security-related charges all contribute to the market’s growth.

The growing demand for automation in the banking industry is propelling the expansion of the ATM market in both developed and developing nations like the United States, Canada, Italy, and China. Additionally, over the past few decades, the global banking industry has experienced a number of technical developments that have fuelled the market’s expansion, including the incorporation of IoT data analysis, digital convergence, and biometrics & cyber security. ATMs give users the option to open or withdraw FDs, recharge phones, pay income taxes, and apply for personal loans in addition to cash withdrawal and checking accounts, increasing convenience.

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In 2020, ATM deployment solutions will dominate the market, making up more than half of the entire sector. Installing, configuring, testing, operating, and implementing an ATM are all parts of ATM deployment. Additional divisions of the market include onsite, offsite, workplace, and mobile ATMs. For the purpose of reducing traffic in busy areas like trade shows, social gatherings, and sporting events, mobile ATMs are moveable ATM systems. Mobile ATMs give banking institutions flexibility and improve branding and promotion.

During the forecast period, the market for automated teller machines in Asia Pacific is anticipated to grow at a CAGR of 6%. Through 2030, it is anticipated that the ATM market in Europe would expand by 4%. Industry players in the area are forging strategic alliances to introduce new services in order to provide cutting-edge solutions and a seamless consumer experience. Till 2030, the UAE ATM market demand is expected to rise at a rate of around 5%, driven mostly by the expansion of the tourism industry. The number of visitors to the country has increased as a result of the relaxation of COVID-19 protocols and border controls worldwide. According to the Dubai tourism report, about 4.88 million visitors entered the city between January and October of 2021.

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Some of the major companies in the industry include Diebold Nixdorf, Fujitsu Limited, G4S plc, GRGBanking, Hitachi-Omron Terminal Solutions, Corp. (Hitachi), NCR Corporation, OKI Electric Industry Co., Ltd., and Guangzhou KingTeller Technology Co. Ltd. These businesses provide ATMs with numerous choices for deposits, withdrawals, and recycling. Financial institutions, retailers, and independent deployers can also get services from these vendors for system reconstruction, repair & maintenance, and upgrading.

Key Market Trends

• The market for automotive heater core is expected to expand at a 7.5% CAGR during the forecast period of 2023 to 2030.
• The growing demand for automation in the banking industry is propelling the expansion of the ATM market in both developed and developing nations like the United States, Canada, Italy, and China.
• In 2020, ATM deployment solutions will dominate the market, making up more than half of the entire sector.
• During the forecast period, the market for automated teller machines in Asia Pacific is anticipated to grow at a CAGR of 6%.
• Through 2030, it is anticipated that the ATM market in Europe would expand by 4%.
• Till 2030, the UAE ATM market demand is expected to rise at a rate of around 5%, driven mostly by the expansion of the tourism industry.

Some of the major companies in the industry include Diebold Nixdorf, Fujitsu Limited, G4S plc, GRGBanking, Hitachi-Omron Terminal Solutions, Corp. (Hitachi), NCR Corporation, OKI Electric Industry Co., Ltd., and Guangzhou KingTeller Technology Co. Ltd.

ATM Market is segmented into: