Next-Gen ATM Market

Global Next-Gen ATM Market: Introduction

The next-gen API app model for ATMs was launched by ATM Industry Association. The model was developed for an industry whose installed base comprises more than 3.2 million ATMs around the world. According to ATM Industry Association, more than 180 global ATM companies participated in the development of the next-gen model. Next-gen ATMs will enable consumers to transact at ATMs for cash and value-added services via their mobile devices.

Global Next-Gen ATM Market – Dynamics

Increasing preference for customized financial services

Customer preferences vary widely in the current BFSI market scenario. Next-gen ATMs help banks and financial institutions to customize, personalize, and add more value to their services for customers. Next-gen ATMs help banks to provide value-added ATM services with best security practices.

Unawareness and Poor BFSI System Infrastructure

South America and Asia Pacific which are fast growing regions, face strong technological and digital gaps within the BFSI industry. The level of awareness among small and medium financial institutions is comparatively low in countries such as Indonesia, Vietnam, Paraguay, and other countries. Network infrastructure and the minimum requirement to smoothly run next-gen ATMs at remote locations is not very effective in these regions. Unawareness about next-gen ATMs and poor network infrastructure is thus hampering the growth of the market.

North America to Dominate the Global Next-Gen ATM Market

In terms of region, the global next-gen ATM market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the next-gen ATM market during the forecast period due to strong adoption of new BFSI technology within the region.

COVID-19 Impact on the Global Next-Gen ATM Market

The COVID-19 pandemic is expected to moderately impact the global next-gen ATM market for a short-term period. The level of investment with regards to next-gen ATMs in BFSI has reduced due to the lockdown in almost every region, as it requires major capital investment. COVID-19 is expected to impact this market till the year end 2020.

Global Next-Gen ATM Market – Competition Landscape

• In October 2018, ATM Industry Association officially launched and declared the next generation ATM architecture designed by the Consortium, open for global business. The launch will enable consumers to transact at ATMs for cash and value-added services via their mobile devices.

NCR Corporation

NCR Corporation is headquartered in Atlanta, Georgia, U.S. It has nearly 34,000 employees across the globe and provides business software and services in 180 countries. NCR Corporation is a leading software- and services-led enterprise provider in the financial, retail, hospitality, telecom, and technology industries.

Global Next-Gen ATM Market: Segmentation

The global next-gen ATM market can be segmented based on:

• Component
• ATM Type
• Region

Global Next-Gen ATM Market, by Component

Based on component, the global next-gen ATM market can be divided into:

• Solution
  • On-premise
  • Cloud
• Services
  • Managed
  • Professional

Global Next-Gen ATM Market, by ATM Type

In terms of ATM type, the global next-gen ATM market can be segregated into:

• Location Based ATM
  • On-site
  • Off-site
  • Worksite
  • Mobile
• Operation Based ATM
  • White Label
  • Brown Label
  • Yellow Label
  • Others

Regional analysis of the global next-gen ATM market includes:

• North America
  • U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa
• South America
  • Brazil
  • Rest of South America

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