Report Code: A08278 | Pages: NA | Mar 2023 | 2922 Views | ||
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Request Now !Globally, the market for ATM software is experiencing a stagnant growth and is expected to maintain its dominance during the forecast period. ATM software helps banks to control and manage all its domestic or overseas ATM networks. This ensures maximum ATM response time and differentiates ATMs with new goods and services offered to customers. The software enables an administrator to track an ATM network and detect problems at an early stage with predictive analytics. ATM software provides greater security to machine by providing authentication services to verify user and provide real-time notification in detecting suspicious activities.Â
Increase in demand for essential self-service ATM software among end users and surge in demand for self-service ATM software in various financial sectors drives growth of the ATM software market. In addition, ongoing modernization in older ATM software and surge in awareness about benefits of multivendor ATM software fuels growth of the market. However, higher maintenance costs hinder growth of the market. Furthermore, rapidly evolving banking environments and integration of new technologies such as contactless payments, QR codes and touch screens is expected to provide lucrative opportunities for the market.
The global ATM Software Market trends are as follows:
Apart from traditional functions like dispensing cash and payment processing, ATM technology is evolving to utilize machine learning to deliver greater efficiency and security. Furthermore, ATM software helps to track back the level of mechanics, working patterns related to sensors, machine operation, and other discrete information that demonstrate how well a system operates and streamlines service operations, and forecasts difficulties and machine behavior. In addition, major players in the market are providing AI based ATM software, which helps in streamlining the process. For instance, Diebold Nixdorf and IBM, which are major financial technology companies, now offer ATM software with embedded AI.
Diebold Nixdorf, one of the leading producers of ATMs across the globe, partnered with Samsung to illustrate a card less ATM, which uses facial recognition, coupled with NFC technology for authentication of users. Users are then issued an encryption notice on their mobile devices via facial recognition. Samsung believes it might result in higher customer satisfaction as it alleviates need for a physical card with the need to remember a PIN.
Key benefits of the report:
Questions answered in ATM software market research report:Â Â Â
ATM Software Market Report Highlights
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Key Market Players | Huawei Technologies Co., Ltd., Texas Instruments Incorporated, NXP Semiconductors, TE Connectivity Ltd, Hewlett Packard Enterprise Co., Microchip Technology Inc., Dell Technologies, Aaeon Technology Inc., Nexcom International Co., Ltd., Adlink Technology Inc. |
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