The ATM industry in the region has undergone significant technological transformations over the past few years. Unlike conventional ATMs, which only provide cash withdrawal facility, new ATMs such as Smart ATMs, are equipped with a number of advanced features which include fund transfer facility, bill payment and smart phone connectivity among others. Further, the integration of latest technologies in ATMs have reduced cases of ATM frauds in the past few years. Equipment such as anti-skimming devices and use of wireless communicating devices could further benefit the ATM market in Asia-Pacific. For instance, Smart ATMs enable consumers to complete transactions via smart phones that prove to be extremely effective in reducing the card skimming frauds.
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Key findings of ATM Market
Smart ATMs is anticipated to be the most lucrative segment & is expected to grow at the fastest CAGR of 27.0% during the forecast period
Increase in the demand of offsite ATMs in Asia- Pacific region would foster the overall Asia-Pacific ATM market over the forecast period
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China dominates the Asia-Pacific ATM market & would continue to lead the market by 2020
The prominent companies profiled in this report include, NCR Corporation, Diebold INC., Hitachi-Omron Terminal Solutions Corporation, Fujitsu, Wincor Nixdorf AG among others. Several companies have focused on innovative product development to cater to the growing needs of the industry. Market players have adopted product launch, partnership, and acquisitions as their key strategies to enhance their product portfolio and improve their market foothold.
These days consumers want convenient and instant services from banks and other financial institutions for financial transactions. In the present scenario environment, banks focus entirely on their core operations and serve basic financial transactions outside the banks for which ATMs have turned in to be a suitable option. Banks select and deploy ATM machines by examining the locations where a large number of financial transactions are expected to occur daily. However, this requires huge initial investments and regular maintenance. Hence, to minimize the cost, banks prefer outsourcing their ATM operations to third-party sources.
This has led to a wide adoption of brown label ATMs in the Asia-Pacific region. Moreover, many countries in the Asia-Pacific region are promoting white label ATM services to provide banking services to the semi-urban and rural areas.
Several factors positively impact the Asia-Pacific ATM market, including the upsurge in the demand for automated systems with enhanced security standards and the introduction of wireless communicating devices in regions, such as India, Singapore, and Australia. However, rising trend of card skimming activities and hacking act as restraints for the market.