Global ATM Market Report and Forecast 2024-2032

Global ATM Market Size

The global ATM market reached around USD 23.64 billion in 2023. The market is projected to grow at a CAGR of 4.4% between 2024 and 2032, reaching almost USD 34.83 billion by 2032.

Global ATM Market Outlook

• In 2018, Europe had 406.5K ATMs.

• Despite the growth of cashless transactions, cash is still popular in the USA, accounting for 40% of all transactions.

• Cash is preferred as a form of backup payment by many people across the world.

Global ATM Market Growth

As ATMs reduce the reliance of customers on their bank’s branches and provide a diverse range of services, such as cash transfers and passbook updates, in one place, their popularity is growing. Major banks are integrating contactless transaction technologies into their ATMs to improve the customer experience and eliminate the risk of card theft. This empowers customers to rely on their smartphones for cash deposits and withdrawals in ATMs, which is complementing the shift towards a digital economy.

As financial institutions strive to attain higher levels of customer loyalty, ATM surcharge fees are expected to record a significant decline, which can propel the market growth.

The emergence of self-service banking kiosks is one of the latest trends favourably impacting the market growth. Nearly 84% of American consumers prefer self-service kiosks for making payments, with 36% seeking it over other payment alternatives.  In the BFSI sector, these kiosks enable customers to perform all banking operations on their own (including KYC updates, bill payments, and cash deposits and withdrawals, among others). They are also equipped with a video conferencing facility whereby a bank agent resolves customer queries and facilitates the completion of the banking process. This is expected to drive the market growth in the forecast period.

Global ATM Industry Segmentation

Global ATM Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Conventional/Bank ATMs

• Brown Label ATMs

• White Label ATMs

• Smart ATMs

• Cash Dispensers

Market Breakup by Solution

• Deployment Solutions
  • Onsite ATMs
  • Offsite ATMs
  • Work Site ATMs
  • Mobile ATMs
• Managed Services

Market Breakup by Screen Size

• 15’’ and Below

• Above 15’’

Market Breakup by Application

• Withdrawals 

• Transfers

• Deposits

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global ATM Market Share

Based on type, the market is divided into conventional/bank ATMs, brown label ATMs, white label ATMs, smart ATMs, and cash dispensers. Over the forecast period, smart ATMs are expected to become increasingly popular, as customers shift towards contactless cash withdrawal and deposition technologies for safety reasons.

Leading Companies in the Global ATM Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.

• Diebold Nixdorf, Inc.

• Hitachi Ltd.

• GRGBanking Equipment Co., Limited

• OKI Electric Industry Co., Ltd.

• Hyosung TNS Incorporation

• NCR Atleos Corporation

• Triton Systems of Delaware LLC

• HESS Cash Systems GmbH

• Fujitsu Limited

• Euronet Worldwide, Inc.

• Others

The expansion of existing networks of ATM facilities by major market players like NCR Atleos Corporation, Hitachi Ltd., and Euronet Worldwide, Inc. is expected to drive the market growth in the coming years.

Key Highlights of the Report