ATMs have evolved from just cash dispensing machines to multifunctional equipment that provide not only cash withdrawal facilities but offer currency conversions facilities, account information, deposits, transfers, bill payment, cash recycling among other services. The Asia-Pacific region is becoming increasingly characterized by technology-facilitated transactions. The adoption of ATMs in Asia Pacific has remarkably increased in the past decade.
These days consumers want convenient and swift services from banks & other financial institutions for financial transactions. Today, banks are focusing on their core operations and serving basic financial transactions outside banks. ATM is 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 investment and maintenance. Hence, to minimize the cost, banks prefer outsourcing their ATM operations to third parties. This has led to a wide adoption of brown label ATM is 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 impact the Asia-Pacific ATM market. The upsurge in the demand for automated systems with enhanced security standards and introduction of wireless communicating devices in regions like India, Singapore and Australia drives the market for ATM in Asia Pacific region. However, rising trend of card skimming activities and hacking acts as a restraint for the market.
Based on type of solution, Asia-Pacific ATM market is segmented into deployment solution and managed services. On the basis of deployment solutions, the market is broadly classified into onsite ATMs, offsite ATMs, worksite ATMs and mobile ATMs. The market is segmented based on type as conventional bank ATM, brown label ATM, white label ATM, smart ATM and cash dispensers. The Asia-Pacific ATM market is also analyzed on the basis of geography into China, India, South Korea, Japan and Rest of Asia-Pacific.
Leading players and their key business strategies have been analyzed in the report to gain competitive insights into the market. The key market players profiled in the report include NCR Corporation, Diebold Inc., Hitachi-Omron Terminal Solutions Corporation, Nautilus Hyosung, Fujitsu, HESS Cash Systems GmbH & Co. and others.
ATM MARKET SEGMENTATION
The market is segmented on the basis of solution, type and country.
MARKET BY SOLUTION
MARKET BY TYPE
MARKET BY COUNTRY
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