ATM Market Size & Share To Exceed USD 31.73 Billion by 2026 | Facts and Factors

The global Automated Teller Machine (ATM) market size is expected to reach USD 31.73 billion by 2026, according to a new report by Facts and Factors. The market is expected to witness significant growth during the forecast period, owing to the increasing demand for self-service technology, advancements in ATM technology, and growing penetration of ATMs in developing countries.

The growing demand for advanced self-service technology, such as cash dispensers and payment terminals, is expected to propel the growth of the Automated Teller Machine (ATM) market. The increasing adoption of cashless payment methods and the growing need for convenient and secure banking services are also expected to drive the market. Additionally, the growing penetration of ATMs in developing countries such as India, China, and Brazil is expected to create new growth opportunities for the market.

The market is segmented based on type, component, technology, and region. On the basis of type, the market is divided into off-premise and on-premise ATMs. The off-premise type is expected to witness the highest growth in the forecast period, owing to the increasing number of bank branches and convenience stores installing ATMs.

The component segment is divided into hardware, software, and services. The hardware component is expected to dominate the market during the forecast period, owing to the increasing demand for improved security measures and the rising adoption of advanced ATM components such as biometrics, touchscreen displays, and cameras.

The technology segment is further divided into traditional ATMs and advanced ATMs. The advanced ATM segment is expected to witness the highest growth in the forecast period, owing to the increasing demand for advanced ATM technology such as biometrics and near-field communication (NFC).

Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the global market during the forecast period, owing to the presence of major market players in the region. The growing adoption of cashless payment methods and the presence of advanced banking infrastructure in the region are also driving the market. Asia Pacific is expected to witness the highest growth in the forecast period, owing to the increasing penetration of ATMs in countries such as India, China, and Japan.

The key players operating in the global Automated Teller Machine (ATM) market are Diebold Nixdorf (US), NCR Corporation (US), Fujitsu Ltd. (Japan), GRG Banking Equipment Co. Ltd (China), Nautilus Hyosung America Inc. (US), Glory Ltd. (Japan), Hitachi Ltd. (Japan), Toshiba TEC Corporation (Japan), OKI Electric Industry Co., Ltd. (Japan) and KAL (US). These players are increasingly focusing on product launches and technological innovations to gain a competitive edge in the market.