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ATM Security Market by Type (Software and Service), Application (Fraud detection, Security management, and Anti-skimming), and Industry Vertical (Banking and Other Financial Institutions): Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
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The demand for automated teller machine (ATM) security and safety devices is growing and is expected to grow, owing to rise in cyber-crimes and ATM skimming. Â ATM machines had always been targets of cyber fraud, theft, and other security breaches. These machines are enforced with high-security safeguards, owing to large threat of theft of cash from them. Different safety measures in ATMs include on-line pin validation, off-line pin validation, data authentication software, cameras inside ATMs, and cryptographic hardware module. These devices usually work on the basis of encrypted data.Â
Market scope and structure analysis:
       Market size available for years |                  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value ($) |
 Segments covered | Type, Application, Industry Vertical, and Region |
 Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa |
 Companies covered | Major players analyzed include: NCR Corporation, Fujitsu Limited, Diebold Nixdorf, Incorporated, Euronet Worldwide Inc., GRG Banking Equipment Co., Ltd., Hess Cash Systems GmbH & Co. Kg, Hitachi-Omron Terminal Solutions Corporation, and Nautilus Hyosung |
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COVID-19 scenario analysis:Â
- The effect of COVID-19 on the safety of ATMs is one of the major concerns, as they are subject to virus transfers.Â
- In India, many banks have launched mobile ATMs to safeguard public health to avoid physical contacts.Â
- The U.S. National ATM Council and various regulators have introduced new ATM laws and safety measures during COVID-19.Â
- Moreover, less frequent visits and larger withdrawals are being observed in Asia-Pacific such as in India and China.
- In the UK, regular visits to ATMs have declined, owing to lockdown, which has impacted the use of ATMs in the past few months.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:
Increase in demand for ATM security, rise in data breaches, increase in robbery attempts, and growth in security concerns from physical thefts are the major factors that drive the ATM security market. However, higher operational costs and increase in adoption of cashless and digital transactions are expected to hinder the ATM security market growth.
Countries having future potential of ATM installations such as Indonesia, China, UAE, India and Qatar are more likely to adopt new safety software and hardware systems during the forecast period. The global
ATM security trends are as follows:
New advancements in ATM safety technology:
ATM security has become more intelligent as technologies such as artificial intelligence (AI) and machine learning are integrated into it. These technologies provide superior capabilities to identify patterns of consumer usage, which further helps them in monitoring and evaluating physical security risks. In addition, they also help in analyzing cash supply for ATMs and their performance. Moreover, banks are introducing new improvements in ATMs such as fingerprints and biometric authentication. For instance, Lantronix Inc launched high-speed routers of the E210 series in May 2020, which transmits real time video and sensor data to central bank control through secured virtual private network. More number of such advancements are expected to drive the demand of ATM security solutions during the forecasted period.
Growth in need for ATM security:
Banks are experiencing rise in number of threats to ATM security. Â Increase in customer demands and government regulatory requirements for cash security has led to the need of advanced ATM security in recent years. In India, ATM frauds increased by 48% between 2018 and 2019. Many of these frauds were attributed to ATM machines being exploited. Similarly, from 2016 to 2017, the U.S. ATM industry experienced a 10% increase in fraud rates. This rise in number of ATM frauds in various countries and growth in cybercrime have illustrated huge security concerns, which has led to the growth of the ATM security market.
Key segments covered:
               Segments |        Sub-segments |
 Offering |
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 Application |
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 Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the global ATM security market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ATM security market share.Â
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the ATM security market growth scenario. Â Â Â
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed ATM security market analysis based on the present and future competitive intensity of the market.Â
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