The ATMs (Automatic Teller Machines) established in the industrialized regions during the late 70s, were cash dispensers, supporting the consumer’s conduct a broad series of financial transactions. In addition, a decade ago, the automatic teller machines were mere cash dispensers through which the consumers could only withdraw cash and attain the details of their bank accounts.
Furthermore, in the present developed era, the ATM managed services Providers Market was positively observed to be operating at its growth stage, the forthcoming maturity as financial institutions likewise banks and ATM managed services organization effectively begin involvement in the innovative technology to proficiently automate their services. The marker is probable to increase in the size due to the growth in the cash management services market.
However, the positive growth in the worldwide cash logistics market has been fueled by the first wave of subcontracting of cash management services by the potential financial institutions, banks, and retail end users. The foremost growth in ATMs around the globe, particularly in the developed regions to bring more people under the banking system has been the foremost growth influencer. The positive growth in the retail end-user sector has been fueled by the requirement for cash automation services. This has enforced cash logistics corporates to move away from the traditional cash services to smart cash devices to automate the retail front and back end cash functions.
It is anticipated that the APAC region was the second major on the back of amplified ATMs by IADs which led to superior outsourcing. China, India, and Indonesia were the leading regions in terms of revenue in the APAC region throughout the year 2018. The entry of international corporates by way of strategic tie-ups augmented the competition in this region. India’s cash logistics market was the wildest increasing market in terms of revenue in the APAC region, augmenting at an effective CAGR for the review period of 2013-2018. The main drivers for positive growth in ATM deployment drop in surcharge fees owing to the government regulations and increment in the outsourcing and number of corporates operating in the region. However, Indonesia Cash Logistics Market has observed growth due to an augment in the number of ATMs, a decrease in the prices charged by managed service givers, a surge in initiatives taken by Bank Indonesia to encourage financial inclusion across the country. The market in terms of revenue increased at a handsome CAGRfor the duration of 2013-2018.
Although, the ATM managed services market is further predicted to increase in the forecast period of 2018-2024, influenced by the positive rise in total ATM transactions, augmented card usage and entry of numerous players in the cash management services sector. For instance, the positive growth in the number of ATMs, and cash withdrawals transactions, mounting outsourcing activity by the banks, entry of the new players to surge growth worldwide ATM managed services market.
Indonesia ATM Managed Service Market Outlook to 2023 – By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance & Others- Journal Management & ATM Reconciliation), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others – Cash Processing, Cash Vaulting & Cash Forecasting).
Saudi Arabia ATM Managed Service Market Outlook to 2023 – By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others – Cash Processing, Cash Vaulting, Cash Reconciliation & Cash Forecasting)
Ankur Gupta, Head Marketing & Communications