Automated Teller Machine (ATM) Market Size & Share 2021 to 2027
Market Size by Solution (Deployment [Onsite, Offsite, Worksite, Mobile], Managed Services), by Type (White Label, Brown Label), by Application (Commercial, Government, Residential) & Forecast.
Report ID: GMI409
|
Published Date: December 2021
|
Report Format: PDF
Download Free PDF
Authors:
Suraj Gujar, Ankita Chavan
Automated Teller Machine Market Size
ATM Market size exceeded USD 20 billion in 2020 and is projected to expand at over 4% CAGR from 2021 to 2027. The improvement in technology of the machinery is likely to support the rise of automated teller machines demand. It allows consumers to complete different tasks related to the banking through secure passage.
The industry players are focusing on integrating advanced technologies, such as AI, IoT, and biometrics technology, with the machines to offer a seamless customer experience. For instance, in June 2021, CaixaBank introduced automated teller machines with facial recognition technology, eliminating the need for the consumer to enter the pin. The technology is equipped with software & cameras capable of identifying above 16,000 points on the user face for ensuring safety. The company is planning to deploy about 100 machines across Spain in the near future.
The coronavirus pandemic has negatively impacted ATM industry. The outbreak has resulted in imposition of stringent lockdown measure and social distancing norms from the government authorities to stop the spread of the virus. This factor has created barriers for consumers in terms of visiting the ATM locations and completing various procedures.
The challenges due to the lockdown has shifted the end-users focus on online services such as net banking & digital payments. With an increase in accessibility to online platforms, customer reliance for completing transactions diverted to e-wallets & mobile payment applications, thus reducing the need of in-hand cash. However, the integration of both the technologies will support the utilization of automated teller machines in coming years.
Automated Teller Machine Market Analysis
The Indian ATM market is forecast to register around 7% gains through 2027 owing to the outsourcing of managed services for proper maintenance of the systems. The strict rules from the Ministry of Home Affairs (MHA) and the Reserve Bank of India (RBI) regarding the ATM ecosystem including introduction of penalty scheme for the downtime of the machine and implementation of cassette swap for replenishing the automated teller machines have shifted several bankers to outsource post-installation services.
The ATM market demand is poised to witness growth rate of nearly 5% in the UAE till 2027 led by the increase in tourism sector. With the relaxation of covid-19 protocols & border restrictions globally, the number of travelers visiting the nation has increased. According to the Dubai tourism report, about 4.88 million visitors entered the city between January and October of 2021.
The rise in tourism will increase the need for in-hand cash for the passengers across the countries, thus creating market growth opportunities. With scalability advantages offered through the deployment of white label ATMs as the operational activities are handled by non-banking entities, bankers can focus on expanding their network to cater to the growing demand.
The government sector in the automated teller machine market is estimated to exhibit over 4% CAGR during 2021 to 2027. The introduction of new policies from the governing authorities to develop the industries safety & operationality standards will boost the sector growth.
The Europe ATM market size is expected to observe 4% growth through 2027. To offer advanced solutions and seamless customer experience, industry participants in the region are forming strategic partnerships to launch new services. For instance, in July 2021, KAL & EVO Payments announced a new service solution for its customers in Europe. The service integrates EVO’s payments infrastructure and KAL’s Kalignite software suite that enables the independent ATM deployers & banks to swiftly deploy the automated teller machines to any location across the region. The software allows service providers to choose machines from more than 40 vendors and any ATM type with regulatory permissions at short notice.
Automated Teller Machine Market Share
Key players operating in the market include:
Companies are focusing on increasing their market presence through strategic acquisitions and launching new technologies in the industry. For example, in August 2021, NCR Corporation revealed receiving the approval from the Competition and Markets Authority in the UK for the acquisition of Cardtronics Plc., one of the biggest non-bank ATM operators. It will support the company in expanding its market reach in the UK.
The ATM market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Thousand Units from 2017 to 2027 for the following segments:
Click here to Buy Section of this Report
Market, By Solution
Market, By Type
Market, By Application
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →