What is ATM Outsourcing Services Market?
ATM outsourcing enables financial institutions to delegate with ATM Outsourcing Service providers for ATM installation and management services. Outsourcing ATM services is cost-effective and allows bank banks to focus on enhancing in-branch experience. In the past few years, more banks have been adopting ATM outsourcing. Increasing cases of COVID-19 across the globe resulted in an increase in the usage of ATM instead of banks for basic services like cash withdrawal and deposits. Moreover, other services were also introduced in ATMs to avoid bank visitations. Digital financial transactions were promoted during the times of COVID-19 by allowing free-of-charge cash withdrawal from ATMs.Covid-19 has transformed the banking and finance industry forcing them to use digital mediums to reduce interaction and crowding of customers in banks. Due to Covid-19, it became difficult for banks to manage ATMs and in-branch services with less manpower. Hence, this increased demand for ATM outsourcing services. Technological advancement has enabled ATMs with better features and services and reducing the chances of transmitting Covid-19 viruses, hence making technological advancement essential and necessary. ATMs outsourcing services have projected a rise in the forecasted period due to the COVID pandemic.
Highlights from ATM Outsourcing Services Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Transaction Solutions International (India), Dolphin Debit (United States), NuSourse (United States), NCR (United States), ATMJ (Japan), Outsource ATM (United States), Burroughs (United States), Asseco (Poland), CashTrans (United States) and FIS (United States) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global ATM Outsourcing Services market throughout the forecasted period.
Transaction Solutions International (India), Dolphin Debit (United States), NuSourse (United States), NCR (United States), ATMJ (Japan), Outsource ATM (United States), Burroughs (United States), Asseco (Poland), CashTrans (United States) and FIS (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Cardtronics (United States) and Euronet (United States). ATM Outsourcing Services Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Individual and Commercial |
Type | End-to-End Outsourced ATM Services and Individual Services [ATM Cash Management Services, ATM Site Outsourcing Services, ATM Site Maintenance & Repair Services, ATM Security Services, Others] |
End-Use | On-Site ATMs,Mobile ATMs,Off-Bank ATMs |
On the basis of geography, the market of ATM Outsourcing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in The Use of ATM Machines for Cash Withdrawals
Market Growth Drivers:
Growing Demand for Multiple Facilities at One Place and Increase in Need of More Appealing and Convenient Device
Challenges:
Presence of Competitors
Restraints:
Security Concerns
Opportunities:
Constant Advancement in Technology and Compliance
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of ATM Outsourcing Services, Venture Capitalists and Private Equity Firms and End-Use Industry
Market Leaders & Development Strategies
On 4th June 2019, Dolphin Debit, the full-service ATM management company, had acquired a longtime competitor Outsource ATM and had added Outsource’s scores of clients, and managed ATMs to its national footprint. With the acquisition, privately held Dolphin Debit added another 65 financial institutions to its client base, furthering its position as the leading pure-play ATM outsourcing provider to credit unions and banks. and On 28th April 2020, Euronet Worldwide, a leading global financial technology solutions and payments provider, had announced the completion of the acquisition of Dolphin Debit, which is a U.S.-based full-service ATM outsourcing company.
In April 2020, Euronet Worldwide, a leading global financial technology solutions, and payment provider, acquired Dolphin Debit, a US-based full-service ATM outsourcing company. Dolphin Debit (Dolphin) provides comprehensive ATM outsourcing for more than 1,900 ATMs for approximately 300 bank and credit union customers across the United States.