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attributed to growing IT companies worldwide. Worksite, offsite, onsite, and mobile ATMs constitute
deployment solutions. Worksite is expected to generate over USD 2.6 billion by 2024.
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Onsite machines are installed within bank premises. They reduce staff-pressure and error-probability. These
factors would drive sub-segment demand in the near future. Mobile ATMs decrease customers at trade fairs
and sports events. They may grow at a CAGR close to 13% till 2024. These machines give banks the chance to
lessen the traffic at populated places and extend their reach.
Managed services allow banks to move their non-core activities to trained service providers & concentrate on
their core business. They are involved in retaining customers & offering cross-selling opportunities. Managed
services will grow at a CAGR above 11% from 2016 to 2024. Their outsourcing can bring good returns,
complying with regulatory policies. Firms such as Diebold Inc. and Wincor Nixdorf AG provide such services at
low costs.
In view of regions, the ATM market consists of North America, Asia Pacific, Europe, and the MEA (the Middle
East & Africa). North America dominated in 2014 but will face a decline till 2022. Its trend of trading in digital
currency has encouraged the adoption of Bitcoin ATMs in the region. The U.S. is the best market (in terms of
performance), bound at over USD 9 billion by 2024. Its integration of biometrics, remote assistance, & video
conferencing can drive regional sales. U.S. banks have implemented Europay/Visa/MasterCard IC encryption
to ensure added security.
Europe is predicted to experience a similar trend on account of saturation and rising operational costs. Asia
Pacific will grow at a CAGR above 12% during the forecast period due to its self-service machines and ever-
increasing customer base.
Increased IT dependence has led players of the global market to create devices with multiplatform
compatibility. Notable players are GRG Banking, Nautilus Hyosung, Euronet Worldwide, and NCR Corporation.
Mergers and acquisitions are one of the strategies adopted by companies to maintain industry hold. For
instance, Euronet acquired Pure Commerce in 2013 to broaden its global reach.
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industry
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