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India ATM Market Size, Share, Report, Analysis, Forecast: By Type: Conventional/Bank ATMs, Brown Label ATMs, White Label ATMs, Smart ATMs, Cash Dispensers; By Solution: Deployment Solutions, Managed Services; By Screen Size: 15” and Below, Above 15”; By Application: Withdrawals, Transfers, Others; Competitive Landscape; 2024-2032
India ATM Market Size
The India ATM market is projected to grow at a CAGR of 9.2% between 2024 and 2032. The expansion of white label ATMs is expected to aid the market expansion in the coming years.
India ATM Market Outlook
- In 2023, the network of scheduled banks’ ATMs in India was 2,19,513.
- 51% of India’s white label ATMs are in rural areas.
- Banks are likely to invest 2000 crore rupees towards installing cash recyclers in ATMs.
India ATM Market Growth
White label ATMs, which are managed by non-banking entities, have risen in popularity in semi-urban and rural areas. This is because they enable all customers to enjoy banking services like cash deposition and withdrawal, despite having an account with a different bank. In 2022-23, the network of white label ATMs in India increased by 4,292, reaching a total of 35,791. This led to a 3.5% increase in the number of onsite and offsite ATMs in the country. India1 Payments hold the largest share of the market for white label ATMs (8,022), followed by Tata Communication Payment Solutions Limited (6,189), and Vakrangee Limited (5,414).
Banks are expected to expand their existing network of ATMs to ensure adequate access to banking services in India. Increasing investments towards improving customer satisfaction and streamlining banking operations are expected to make cash recyclers relatively more common in ATMs over the forecast period. This is because they minimise the need for frequent branch visits for depositing cash.
The management of existing networks of ATMs is largely under scheduled public (63%) and private sector banks (35%), with the former being more evenly distributed across the country. The mandate to shift towards the usage of reliable technologies (hardware and software) in ATMs is expected to contribute to the market growth in the forecast period.
India ATM Industry Segmentation
India 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
India 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 more widespread, as they provide customised banking services to individual users and ensure a seamless user experience by facilitating cardless cash withdrawals through near-field technology or QR code scanning.
Leading Companies in the India 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.
- Euronet Worldwide, Inc.
- Hitachi Ltd.
- Diebold Nixdorf, Incorporated
- NCR Atleos Corporation
- AGS Transact Technologies Ltd.
- Vortex Engineering Private Limited
- ETSOL WATER SOLUTIONS PVT. LTD.
- Others
60% of Indian consumers choose cash on delivery as the payment option for e-commerce purchases. Enhanced accessibility to smart ATMs is expected to play a critical role in boosting the market growth.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Solution |
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| Breakup by Screen Size |
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| Breakup by Application |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific ATM Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific ATM Historical Market (2018-2023)
8.3 Asia Pacific ATM Market Forecast (2024-2032)
8.4 Asia Pacific ATM Market breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 India ATM Market Overview
9.1 Key Industry Highlights
9.2 India ATM Historical Market (2018-2023)
9.3 India ATM Market Forecast (2024-2032)
10 India ATM Market by Type
10.1 Conventional/Bank ATMs
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Brown Label ATMs
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 White Label ATMs
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Smart ATMs
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Cash Dispensers
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 India ATM Market by Solution
11.1 Deployment Solutions
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Type
11.1.3.1 Onsite ATMs
11.1.3.2 Offsite ATMs
11.1.3.3 Work Site ATMs
11.1.3.4 Mobile ATMs
11.2 Managed Services
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India ATM Market by Screen Size
12.1 15” and Below
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Above 15”
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 India ATM Market by Application
13.1 Withdrawals
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Transfers
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Deposits
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Euronet Worldwide, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hitachi Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Diebold Nixdorf, Incorporated
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 NCR Atleos Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 AGS Transact Technologies Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Vortex Engineering Private Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 NETSOL WATER SOLUTIONS PVT. LTD.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Home Textile Market: Key Industry Highlights, 2018 and 2032
2. India ATM: Key Industry Highlights, 2018 and 2032
3. India ATM Historical Market: Breakup by Type (USD Million), 2018-2023
4. India ATM Market Forecast: Breakup by Type (USD Million), 2024-2032
5. India ATM Historical Market: Breakup by Solution (USD Million), 2018-2023
6. India ATM Market Forecast: Breakup by Solution (USD Million), 2024-2032
7. India ATM Historical Market: Breakup by Screen Size (USD Million), 2018-2023
8. India ATM Market Forecast: Breakup by Screen Size (USD Million), 2024-2032
9. India ATM Historical Market: Breakup by Application (USD Million), 2018-2023
10. India ATM Market Forecast: Breakup by Application (USD Million), 2024-2032
11. India ATM Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 9.2% between 2024 and 2032.
The different types of ATMs in the market include conventional/bank ATMs, brown label ATMs, white label ATMs, smart ATMs, and cash dispensers.
The major segments considered in the market report include deployment solutions and managed services.
The different screen sizes of ATM considered in the market report are 15’’ and below and above 15’’.
The different applications of ATMs in the market include withdrawals, transfers, and deposits.
The key market players are Euronet Worldwide, Inc., Hitachi Ltd., Diebold Nixdorf, Incorporated, NCR Atleos Corporation, AGS Transact Technologies Ltd., Vortex Engineering Private Limited, and ETSOL WATER SOLUTIONS PVT. LTD., among others.
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