Global ATM market to near 22 bln by 2020

These are the forecasts of the Global ATM Market — Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020 report, which was released by global market research company Allied Market Research.

The same report indicates that diverse services and offerings in financial transactions are major drivers for the global ATM market. The deployment of ATMs onsite, offsite, and at the worksite, as well as the accessibility to mobile ATMs has facilitated the 24/7 availability of banking services to customers and created an avenue for promotional activities to the banks concerned, the report claims.

Key findings of the study:

• the global market for ATM deployment solutions is gaining momentum with offsite ATMs to provide major growth during the forecast period (2014–2020)
• the white label ATM market will grow at a CAGR of 11.3 percent during the forecast period
• smart ATMs will be an area of interest, and this technology is expected to grow at the fastest pace
• Asia-Pacific represents the most lucrative market, both in terms of deployment and revenue
• emerging markets will contribute significantly toward the growth of the global ATM market by 2020.