A comprehensive market forecast of the ATM industry paints a promising outlook for the coming years. Despite a slow start due to the global coronavirus pandemic, the ATM industry looks ready to rebound with a projected growth in both hardware and software segments over the next five years. This article provides an overview of the current market conditions and a look into the projected trends of the ATM industry over the next five years. The global Automated Teller Machine (ATM) market is forecast to witness moderate growth during the forecast period (2020-2025). The market is expected to register a CAGR of approximately 3.1% during the period.
The key factors driving the growth of the ATM market include the wide range of services offered by ATMs and the growing demand for cash transactions, particularly in under-developed and developing countries. With the increasing shift towards the use of cashless payments, the demand for banknotes and coins is expected to remain strong in the near future. This is likely to result in a significant increase in the need for ATMs, which will accelerate market growth in the foreseeable future.
The growing adoption of technology and the emergence of advanced ATM models, such as multi-function ATMs, are likely to further bolster the demand for ATMs over the forecast period. Moreover, the growth of the retail industry, particularly in emerging markets, is expected to strengthen the market over the assessment period.
However, the growth of the ATM market may be hindered by the increasing threat of cyber-attacks, rising operational costs, and stringent regulations. Furthermore, the increasing penetration of alternative online and mobile payment channels is expected to have a negative effect on the growth of the ATM market during the assessment period.