The ATM Managed Services Market was effectively observed to be functioning at its growth stage, approaching maturity as banks and ATM managed services corporates start investing in the innovative technology to automate their services. Moreover, the market is anticipated to augment in the size owing to grow in the cash management services market. The financial institutes such as banks have taken numerous steps in order to decrease the entire cost of the functions majorly across the developed regions. Apart from outsourcing the management of the ATMs, banks have started decreasing their commercial footprint by closing down the branches, merging with the other banks and contribute to the technology based on the services to decrease on the ATMs for the consumer’s services.
Additionally, based on the locations of ATM, the off-site ATM is installed in the area where there are no branches namely malls, airports and hospitals among several others. The sector registered majorly across the developed regions. However, the Asia Pacific region also registered this sector more proficiently owing to the wide developments in the China and India region. Furthermore, the management of off-site ATMs is completely outsourced to the cash management corporates. Not only has this, but on-site are also positioned near the bank branched, electronic service units and representative offices. For such ATMs, the cash management services and the ATM management services are outsourced meanwhile the protection and the examination services are managed by the banks themselves.
Although, Indonesia ATM Managed Service Market has effectively observed a robust growth spurred by an augment in the number of cash dispensing machines & cash recycling machines; reduction in the prices stimulating by managed service providers, entry of innovative players in the industry & an augment in the number of bank branches among the review duration. The market is presently located in the growth stage with a robust opportunity for further enlargement at a faster pace with positive trends anticipated in the industry.
Based on the type of machines, across Indonesia, the ATM machines are the principal of two varieties which are Cash dispensing machines and cash recyclers. In the recent trend, the total number of cash recycler machines functioning in Indonesia was evaluated at close to 21,000. Additionally, a number of cash dispensing machines functioning in Indonesia was witnessed to be taking extraordinary share. Although, banks have been upgrading their cash dispensing machines to cash recyclers as they deliver a bunch of services apart from cash withdrawals involving cash deposit, funds transfer, statement inquiry, bill payment, and numerous others.
In addition, the market has been predicted to increase to account for a handsome CAGR. The growth will be assisted by the growth in the number of cash recyclers & cash dispensers which are anticipated to increase at an effective CAGR during the review duration. The handsome growth in white label ATM dissemination in remote locations, increasing the requirement for outsourcing management services by banks and an increment in cash withdrawals from ATM will act as tailwinds for market growth in the future. Therefore, in the coming years, it is anticipated that the market of the ATM managed services will increase around the globe over the near years.
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).
Ankur Gupta, Head Marketing & Communications