Asia-Pacific ATM Market Expected to Reach $9.46 Billion by 2030

According to a recent report published by Allied Market Research, titled, “Asia-Pacific ATM Market by Solution Type, Deployment Solution, and Type: Opportunity Analysis and Industry Forecast, 2021–2030,” the Asia-Pacific ATM industry size was valued at $6.38 billion in 2020, and is projected to reach $9.46 billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030.

An automated teller machine, is a specialized computer that manages the bank account holder’s funds conveniently. It allows a person to do various financial transaction activities such as check account balances, withdraw, deposit money, print a statement of account activities and purchase stamps. ATMs play an important role in reducing the workload of the banking industry. It has relieved customers by availing various banking services without visiting the bank branches. It helps in reducing the work pressure on bank staff and provides flexibility to its operations

Factors such as increase in demand for ATMs, provide convenience to customers by availing 24/7 service, facility of wireless communication in smart ATMs, and rise in trend of automation are expected to fuel the Asia-Pacific ATM market growth. However, possibility of frauds, and emergence of online banking service among the people are expected to negatively impact the growth of the market. On the contrary, untapped demand from emerging countries, and implementation of technologies in ATMs such as contactless payments, QR codes, and touch screens are expected to provide lucrative opportunities for the market growth in the coming years.

The offsite ATMs segment is expected to garner a significant share during the forecast period, owing to increase in flexibility by government authorities to set up their offsite ATMs and growth in installation of ATMs in rural areas. However, the mobile ATMs segment of Asia-Pacific ATM market share is expected to grow at the highest rate during the forecast period, as it can be used at trade fairs, social gatherings and sports events among others, where the probability of financial transactions is high. Also, mobile ATMs provide banks a wider coverage for their schemes and policies in new territories.

Region wise, the Asia-Pacific ATM market share was dominated by China in 2020, and is expected to retain its position during the forecast period. The major factor that drives the growth of the market in this country includes increasing number of card issued. Furthermore, major banks in this country have outsourced their ATM services to third parties, leading to a decline in the number of conventional bank ATMs and rise in the number of brown label ATMs. However, Philippines is expected to witness significant growth rate during the forecast period. Recently, the The Bangko Sentral ng Pilipinas (BSP) has permitted nonbank entities to set up ATMs under the white label ATMs category, which is expected to drive the number of white label ATMs in the country. These factors drive growth of the Asia-Pacific ATM industry in the country.

The COVID-19 pandemic is expected to impact the overall economy along with the financial markets including the Asia-Pacific ATM market. ATM transactions have reduced mainly because of the danger of spread of virus through ATM doors, buttons which might contain the virus, and also through cash. Therefore, consumers prefer to stay indoors and minimize using the ATM for withdrawing money and doing other activities such as changing PIN, checking balance, and others. Hence, this is a major challenge faced by the Asia-Pacific ATM service providers. For instance, Mastercard partnered with AGS Transact Technologies to provide a pan India ‘contactless’ cash withdrawal experience at ATMs These factors are anticipated to provide potential growth opportunities in the coming years.    

Key Findings Of The Study

• By deployment solution, the offsite ATMs segment generated the highest revenue in 2020.
• By type, the smart ATMs segment is expected to attain the significant growth during the forecasted period.
• By country, the China segment generated the highest revenue in 2020.

The key players profiled in the Asia-Pacific ATM market include Diebold Nixdorf, Incorporated, Euronet Worldwide Incorporation, Fujitsu Ltd, GRG Banking Equipment Co. Ltd., Hitachi-Omron Terminal Solutions Corporation, Hyosung, NCR Corporation, Next Payments Pty Ltd, Shenzhen Yihua Computer Co., Ltd and CASH2GO ATMs. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. This study includes Asia-Pacific ATM market forecast, trends, analysis, and future estimations to determine the imminent investment pockets.