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2021

Asia-Pacific ATM Market

Asia-Pacific ATM Market Size, Share, Competitive Landscape and Trend Analysis Report by Solution Type, Deployment Solution and Type : Opportunity Analysis and Industry Forecast, 2021-2030

BI : Banking

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Author's: Monica Chhabra| Pramod Borasi | Onkar Sumant
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The Asia-Pacific ATM market 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. 

Automated teller machine (ATM) is a computerized system that enables the customer to complete financial transactions easily. It is an electronic banking outlet that enables customers to perform financial transactions such as deposits, withdrawals, view account balance, transfer balance between accounts, and clear check without the need of bank branch representative or teller. ATMs are a convenient and safe means of managing the customer’s funds. It is necessary to have an efficient cash management solution to perform depositing and cash dispensing from ATM. Cash recycling acts as an efficient cash management solution, which offers benefits to banks such as counterfeit detection, complete & total accuracy, and enhanced customer experience.

Asia-Pacific-ATM-Market,-2021-2030

The Asia-Pacific ATM market size is expected to exhibit robust growth during the forecast period. The key factors impacting the growth of the market include increase in demand for ATMs, provide convenience to customers by availing 24/7 service, facility of wireless communication in smart ATMs, and rising trend of automation in developing economies. Furthermore, possibility of frauds, and emergence of online banking service among the people are expected to affect the Asia-Pacific ATM market growth during the forecast period. Moreover, untapped demand from emerging countries, and implementation of technologies in ATMs such as contactless payments, QR codes, and touch screens are likely to have a notable effect on the Asia-Pacific ATM market growth. However, each of these factors is anticipated to have a definite impact on the overall market growth during the forecast period.

The offsite ATMs segment is expected to garner a significant share during the forecast period owing to reduce the hurdles faced by consumers during cash withdrawal and other financial transactions in remote areas. However, the mobile ATMs segment is expected to grow at the highest rate during the forecast period, as it provides convenience of cash transactions at various events such social gathering, trade fairs, international conferences, seminars, and events. Moreover, they are used for branding and promotions.

By country, the Asia-Pacific ATM market share was dominated by China in 2020, and is expected to retain its position during the forecast period. China is the largest contributor to the global market, owing to the presence of major market players such as GRG Banking Equipment Co. Ltd., Shezhen Yihua Computer Ltd., Hitachi and Diebold. These companies collectively hold more than 70% of the market share in the China. However, the market in Philippines is expected to witness significant growth, owing to dominant usage of cash and huge opportunities for ATM vendors to target the rural population in the country.

The report focuses on the growth prospects, restraints, and trends of the Asia-Pacific ATM industry analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Asia-Pacific ATM market.

Asia-Pacific ATM Market
By Solution Type
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Deployment Solution segment accounted for the highest market share in 2020

Segment review

The Asia-Pacific ATM industry share is segmented on the basis of solution type, deployment solution, type, and country. In terms of solution type, it is segregated into deployment solutions, and managed services. By deployment solution, it is further classified into onsite ATMs, offsite ATMs, worksite ATMs, and mobile ATMs. By type, it is categorized into conventional ATMs, brown label ATMs, white label ATMs, smart ATMs, and cash dispensers, and smart ATMs. Country wise, it is analyzed across China, Japan, India, Australia, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific.

The key players profiled in the Asia-Pacific ATM market analysis are 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 Asia-Pacific ATM market.

Asia-Pacific ATM Market
By Type
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Smart ATM segment is projected as one of the most lucrative segments.

COVID-19 impact analysis

The coronavirus pandemic had a severe impact on the Asia-Pacific ATM market as several countries have imposed lockdowns & shutdowns, an economic recession & declined disposable income has led to massive reduction in the use of traditional or physical bank services. The use of ATMs for withdrawing money and related activities have reduced significantly owing to the danger of spread of virus through direct contact from public ATMs. As, it has been witnessed that mobile banking applications have taken over the advantages offered by ATMs such as money transfer, checking account balance, mini statements, and others which consider the decrease in demand during the pandemic. However, the need for cash is always there, as consumers prefer to have in case of any emergency arises. Various emerging countries such as the Philippines, China and India are still in need of cash for different purposes, which increase the adoption of ATMs into their economy. These reasons are expected to dominate the Asia-Pacific ATM market growth during the forecast period.

Top impacting factors

Rise in demand for automated teller machine

The Asia-Pacific ATM market is expected to witness promising growth in the coming years, owing to provide customers 24/7 support services across payments, bank account, deposit or withdraw money, print account statements, transfer of money between accounts in banks. The use of ATMs across banking industries provides various benefits such as saves the customers from visiting bank branch personally; standing in queues and filling up of various slips for accessing customer’s bank accounts. Furthermore, ATMs are transforming from simple cash dispenser machine to more personalized and richer communication channel with technological innovations in the banking & financial industry. This has helped to achieve customer loyalty by installing more integrated and value-added services. Thus, number of such developments across the major players drive the growth of the market.

Untapped Potential on emerging economies

Developing economies offer significant opportunities for the Asia-Pacific ATMs market to expand their business by offering easier access to financial services. Awareness about advantages of ATMs is substantially low among the rural population in emerging countries. According to several studies, low awareness regarding ATM benefits, minimal transactions per month, and high investment for bank branch setup have been some of the major reasons for low penetration of banking services in rural areas. For instance, Vortex ATMs, an Indian company, launched a low-cost ATM machine to provide services to rural population. In addition, Financial Software and Systems (P) Limited (FSS), one of the major players in electronic and payment systems and services, is working with Vortex to provide biometric services along with ATM services for the rural market. This is considered as an important opportunity to boost the growth of the Asia-Pacific ATM market revenue.

Asia-Pacific ATM Market
By Country
2030
China 
India
Japan
Australia
Indonesia
Thailand
Malaysia
Philippines
Rest of Asia-Pacific

Philippines would exhibit the highest CAGR of 9.5% during 2021-2030

Key Benefits For Stakeholders 

  • This study includes the Asia-Pacific ATM market trends, analysis and future estimations to determine the imminent investment pockets.
  • The report presents information related to Asia-Pacific ATM market key drivers, restraints, and opportunity.
  • The Asia-Pacific ATM market opportunity is quantitatively analysed from 2021 to 2030 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Asia-Pacific ATM market.​​​​​​​

Asia-Pacific ATM Market Report Highlights

Aspects Details
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By SOLUTION TYPE
  • Deployment Solution
  • Managed Services
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By DEPLOYMENT SOLUTION
  • Onsite ATMs
  • Offsite ATMs
  • Worksite ATMs
  • Mobile ATMs
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By Type
  • Conventional ATM
  • Brown ATM
  • White ATM
  • Cash Dispenser ATM
  • Smart ATM
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By Country
  • .Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • .Indonesia
  • Thailand
  • Malaysia
  • Philippines
  • Rest of Asia-Pacific
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Key Market Players

Hyosung, Euronet Worldwide, Inc., Next Payments Pty Ltd, CASH2GO ATMs, Fujitsu Ltd., Diebold Nixdorf, Incorporated, .NCR CORPORATION, Hitachi-Omron Terminal Solutions Corporation, GRG Banking Equipment Co. Ltd., Shenzhen Yihua Computer Co., Ltd

Analyst Review

According to the insights of the CXOs of leading companies, automated teller machines are convenient, reliable, secured, and allow consumers to perform quick, self-service transactions for everyday banking needs such as deposits & withdrawals, funds transfers, balance inquiries, or account information inquiries any time. Cash recycling is the major driving factor of the ATM market, as it allows customers such as small businesses to withdraw or deposit large volume of cash, thereby saving bank’s times and reducing cost associated with cash in transit. Integration of mobile devices to ATM machines via smartphone apps help to secure financial transactions, which support the growth of the ATM market. Advanced security features such as voice recognition, EMV adoption, and biometrics further aid in securing customer financial transactions, which boost the growth of the market.

Increase in economic strength of the developing nations such as China, India, Indonesia, Philippines and Thailand is expected to provide lucrative opportunities for the Asia-Pacific ATM market growth. This is attributed to surge in adoption of ATM devices for wireless communication, security, EMV migration, and cash recycling across the world propels the growth of the Asia-Pacific ATM market. Moreover, retail houses, corporate instructions, and banking companies are adopting ATM devices in Asia-Pacific region for various functions such as offsite, mobile site, and worksite, as these ATMs facilitate quicker and efficient services with flexible cash withdrawals and deposits This, in-turn, reduces the footfall in banks, enabling the bank staff to focus on core financial activities, thereby fueling the growth of the Asia-Pacific ATM market.

 

 

 

 

Author Name(s) : Monica Chhabra| Pramod Borasi | Onkar Sumant
Frequently Asked Questions?

The Asia-Pacific ATM Market is estimated to grow at a CAGR of 4.1% from 2021 to 2030.

The Asia-Pacific ATM Market is projected to reach $9.46 Billion by 2030.

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demand for ATMs, provide convenience to customers by availing 24/7 service, facility of wireless communication in smart ATMs, and rising trend of automation in developing economies are the prime factors that drive growth of the Asia-Pacific ATM Market.

The key players profiled in the report 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

On the basis of top growing big corporations, we select top 10 players.

The Asia-Pacific ATM Market is segmented on the basis of solution type, deployment solution, type, and country.

The key growth strategies of Asia-Pacific ATM Market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

Offsite ATMs segment of the Asia-Pacific ATM Market share generated the highest revenue during the forecast period.

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Asia-Pacific ATM Market

Opportunity Analysis and Industry Forecast, 2021-2030