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Automated Teller Machine (ATM) Market size is set to grow by USD 5.91 billion from 2024-2028, Multifunctionality features in ATMs boost the market, Technavio

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NEW YORK, July 19, 2024 /PRNewswire/ — The global automated teller machine (ATM) market size is estimated to grow by USD 5.91 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.6%  during the forecast period. Multifunctionality features in atms is driving market growth, with a trend towards growing demand for cash recycling ATMs. However, high costs associated with atms  poses a challenge. Key market players include Atlas Ontario LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., Lipi Data Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd., Paycorp Investments Proprietary Ltd., Source Technologies, SPL Computer Trading GmbH, The Brinks Co., and Triton Systems.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Automated Teller Machine (ATM) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.6%

Market growth 2024-2028

USD 5910 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.18

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 58%

Key countries

US, China, Germany, India, and UK

Key companies profiled

Atlas Ontario LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., Lipi Data Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd., Paycorp Investments Proprietary Ltd., Source Technologies, SPL Computer Trading GmbH, The Brinks Co., and Triton Systems

Market Driver

The demand for automatic cash recycling in ATMs, automated teller safes, and self-service cash recycling machines is increasing among financial institutions. Banks aim to achieve revenue growth, improved customer service, and cost optimization. In traditional banking structures, tellers manage cash levels, leading to high labor costs and opportunity costs. Cash recycling systems, like placing a vault between two tellers but with advanced cash management, help optimize operations at a lower cost. This system eliminates the need for tellers and vaults, increasing efficiency by nearly 90% and profitability due to reduced expenses. Since the COVID-19 pandemic, cash recycling has become crucial for streamlining processes, fraud avoidance, and reducing staff burden. The benefits of cash recycling, such as minimizing touchpoints for cash, will significantly drive the growth of the global ATM market during the forecast period. 

The Automated Teller Machine (ATM) market is thriving in both developed and emerging countries, with trends including cash withdrawal, fund transfer, and deposit services. Technology advancements like biometric authentication and smart ATMs are transforming the banking sector. Manufacturing operations focus on digital platforms, contactless kiosks, and interactive machines. Security mechanisms and fraud prevention are crucial. In developed countries, NCR Corporation and Diebold Nixdorf dominate, offering managed services, deployment solutions, and upgrading services. In contrast, emerging markets prioritize geographical expansion and product portfolio expansion. Members ATMs for credit unions, ecommerce integrations, and mobile banking are gaining popularity. Hitachi Terminal’s cash recycling machines and Hitachi’s frictionless vein pattern recognition technology are innovations. Despite these advancements, lack of awareness and digital payment adoption remain challenges. System reconstruction, repair & maintenance, and contracts are ongoing needs. 

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Market Challenges

ATMs are a valuable tool for banks to automate cash transactions and reduce the number of customers visiting branches. However, the adoption of ATMs is influenced by various costs, including the initial investment for the machine, monthly rentals for branch space, electricity bills, and security expenses. In some countries, banks offer free transactions to customers, or there are no fees for using ATMs, which further impacts the revenue generated from these machines. Additionally, the cost of maintaining anti-skimming devices to enhance security adds to the operational expenses. These factors may hinder the growth of the global ATM market during the forecast period.The ATM market is experiencing significant changes with the rise of contactless kiosks, ecommerce, and mobile banking. However, challenges persist, including lack of awareness for digital payments and interactive machines. Managed services and deployment solutions are crucial for onsite, offsite, worksite, and mobile ATMs. NCR Corporation and Diebold Nixdorf lead the market, offering system reconstruction, repair & maintenance, upgrading services, and product portfolio expansion. Geographical expansion is key, with contracts signed with credit unions, retailers like Walgreens, and Hitachi’s frictionless cash recycling machines. The unbanked population and cash-based transactions remain opportunities, with EMV migration ongoing. Manufacturing capacity expansion and advanced technologies like vein patterns and near-infrared light are shaping the future. The World Bank supports these developments, focusing on cashless transactions and financial inclusion.

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Segment Overview 

This automated teller machine (atm) market report extensively covers market segmentation by  

Type 1.1 Brown label1.2 White label1.3 OthersDeployment 2.1 Offsite ATM2.2 Onsite ATM2.3 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Brown label-  The Automated Teller Machine (ATM) market is growing steadily due to increasing consumer preference for convenient and quick cash withdrawals and deposits. Banks and financial institutions are investing in advanced ATMs with features like contactless payments and biometric authentication to enhance customer experience. The market is driven by factors such as rising urbanization, increasing financial inclusion, and technological advancements. Global sales of ATMs are projected to reach USD14 billion by 2025.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global cash logistics market is witnessing steady growth driven by increasing cash transactions and stringent security regulations. Key players are investing in advanced technologies like GPS tracking and biometric authentication to enhance security and operational efficiency. The global ATM slide rails market is expanding with rising ATM installations worldwide. Innovations in slide rail designs focus on durability, ease of maintenance, and enhanced user experience, catering to the growing demand for secure and reliable ATM transactions.

Research Analysis

Automated Tellers Machines (ATMs) have revolutionized the banking sector, enabling cash withdrawal, fund transfer, and deposit services around the clock. Technology advancements have led to innovations like biometric authentication, transforming ATMs into Smart ATMs. Developed and emerging countries alike have embraced ATMs for digital banking, with manufacturing operations and onsite, offsite, worksite, mobile ATMs catering to diverse needs. Security mechanisms ensure safe transactions, while repair & maintenance and upgrading services keep machines functional. NCR Corporation and Diebold Nixdorf are major players, but numerous other companies contribute to the market’s growth. System reconstruction, contracts, portfolio expansion, and geographical expansion are key strategies. Members ATMs for credit unions and cooperative banks further extend the reach of these financial institutions.

Market Research Overview

Automated Teller Machines (ATMs) are digital banking solutions that enable cash withdrawal, fund transfer, and deposit services around the clock. Technology advancements have led to the development of Smart ATMs with biometric authentication, contactless kiosks, and cash recycling machines. The banking sector in developed and emerging countries is increasingly adopting ATMs to expand digital platforms and reach rural areas. Security mechanisms and fraud prevention are key considerations in manufacturing operations. Technological innovations include interactive machines, managed services, and deployment solutions. Onsite, offsite, worksite, and mobile ATMs cater to diverse business needs. Ecommerce, mobile banking, and digital payment integration are driving growth. However, lack of awareness and digital payment infrastructure in some regions pose challenges. Key trends include system reconstruction, repair & maintenance, upgrading services, product portfolio expansion, and contracts. Geographical expansion, membership ATMs for credit unions, and partnerships with retailers like Walgreens and Hitachi Terminal are strategic moves. Cash recycling machines, manufacturing capacity expansion, and frictionless technology like vein patterns and near-infrared light are shaping the future of ATMs. The World Bank supports EMV migration to secure cash-based transactions and serve the unbanked population.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBrown LabelWhite LabelOthersDeploymentOffsite ATMOnsite ATMOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Dr. Gerard van Belle Appointed Director of Science at Lowell Observatory, Charting a Bold Future for Research

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Dr. van Belle to guide scientific exploration and foster innovation in the next era of astronomical research

FLAGSTAFF, Ariz., Jan. 10, 2025 /PRNewswire/ — Lowell Observatory is pleased to announce the appointment of Dr. Gerard van Belle as the new Director of Science. Van Belle, who has been an astronomer at the observatory since 2011, has been serving as the interim Director of Science.

In his new role, van Belle will lead a diverse team of astronomers and planetary scientists. He will spearhead the observatory’s new Science Vision, which focuses on advancing research capabilities and implementing cutting-edge technological improvements supporting Lowell’s leadership in astronomical research.

Under his leadership, the science department will continue to advance Lowell Observatory’s mission to pursue the study of astronomy, including the study of our solar system and its evolution, and to conduct pure research in astrophysical phenomena.

Van Belle’s own research focuses on fundamental stellar parameters, including the sizes, shapes, masses, distances, and temperatures of various types of stars. He is also renowned for his expertise in optical and near-infrared astronomical interferometry.

He earned his bachelor’s degree in physics from Whitman College in 1990, followed by a master’s degree from The Johns Hopkins University in 1993, and a Ph.D. in physics from the University of Wyoming in 1996.

Throughout his career, van Belle has been instrumental in the development and commissioning of major optical interferometers worldwide, including the Palomar Testbed Interferometer, the Keck Interferometer, and the Very Large Telescope Interferometer. His pioneering work in stellar surface imaging earned him the inaugural Edward Stone Award for Outstanding Research Publication at NASA’s Jet Propulsion Laboratory in 2002.

In 2011, van Belle joined Lowell Observatory’s science staff, where he applied high-resolution astronomical techniques to detect nearby exoplanets and map stellar surfaces. He served as the Director of the Navy Precision Optical Interferometer (NPOI) in Flagstaff, Arizona, from 2017 to 2018, and subsequently as its Chief Scientist until 2022.

Notably, van Belle was among the astronomers who voted against the definition of ‘planet’ advanced during the 2006 International Astronomical Union (IAU) conference in Prague, which relegated Pluto to being a ‘dwarf planet’ (which according to the IAU resolution is not a planet).

His extensive experience and dedication to advancing astronomical research make him a valuable leader for Lowell Observatory’s scientific endeavors.

“I am honored to take on this role at such a pivotal time for Lowell Observatory,” said van Belle. “Our Science Vision will guide us in exploring new frontiers in astronomy while strengthening our commitment to public engagement and education.”

Executive Director Dr. Amanda Bosh expressed her confidence in van Belle’s leadership: “Gerard’s extensive experience and dedication to our mission make him the ideal person to lead our scientific endeavors. I look forward to working closely with him as we embark on this exciting new chapter for Lowell Observatory.”

For more information about Lowell Observatory’s research and public programs, visit lowell.edu.

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

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SOURCE Lowell Observatory

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ALTICE USA IS ABANDONING LOCAL SPORTS FANS AND IS KEEPING MSG NETWORKS AND ITS KNICKS, RANGERS, ISLANDERS AND DEVILS COVERAGE OFF THE AIR

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NEW YORK, Jan. 10, 2025 /PRNewswire/ — MSG Networks released the following statement about their dispute with Altice USA:

“Altice USA has pulled their last proposal and walked away from negotiations to bring MSG Networks back to its Optimum subscribers. They also just dropped WPIX Channel 11 in New York and other local stations around the country. If you have been waiting, like we have, for them to do right by their customers – don’t wait any longer. Now is the time to switch to Verizon Fios who has a special offer for Optimum subscribers. Meanwhile, Optimum has been charging their over 1 million customers for local sports programming they have not been receiving and EVERY subscriber should be credited at least $10 a month.

Verizon Fios is ready to take your business. If you are not in Verizon Fios area, you can get games through these other providers DirecTV, DirecTV Stream, Fubo and The Gotham Sports App. For more options on how to switch providers, visit www.keepMSG.com.”

About MSG Networks

MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

Contact:

Dan Schoenberg (dan.schoenberg@msg.com)

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SOURCE Sphere Entertainment Co.

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Infor Nexus Unveils NexTrace, its End-to-End Traceability Solution at NRF 2025

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Leveraging AI technology and a supplier-centric philosophy, the solution simplifies the data collection process, helping to promote accuracy and compliance

NEW YORK, Jan. 10, 2025 /PRNewswire/ — Infor Nexus™ , the single-instance supply chain network platform providing unparalleled visibility and collaboration, today announced NexTrace. This innovative solution is designed to improve customer transparency and provide a competitive advantage. With the EU Digital Product Passport (DPP) set to take effect in 2027, companies need to start preparing now by implementing traceability solutions. NexTrace can give customers a head start to meet regulatory requirements like the EU DPP and the Corporate Sustainability Due Diligence Directive (CSDDD). 

NexTrace provides end-to-end transparency by seamlessly tracking raw material through to finished products and beyond, ensuring full traceability throughout the entire supply chain journey. It integrates supplier ESG data and certificates for a holistic view of sustainability and compliance information. Leveraging AI technology and a supplier-centric philosophy, NexTrace simplifies the data collection process, ensuring accuracy and compliance.

“Last June, we launched Map and Trace, which empowers our customers to map their supply chains and collect documentation from multiple supplier tiers. Map and Trace provides evidence of chain of custody compliance with regulations such as the US UFLPA and the French AGEC law. With NexTrace, we’re taking this to the next level by proactively gathering full-scale item-level traceability from each tier of the supply chain. This will help our customers to not only meet upcoming regulations like the EU Digital Product Passport but also gain a competitive edge by providing comprehensive data on their products’ journey, composition, and sustainability,” said Brian Carelli, Infor VP, Sustainability and Partnerships. 

Meeting regulatory and consumer demands for product traceability requires collaboration across supply chain tiers. By connecting to Infor Nexus, companies gain a head start, leveraging an established ecosystem of over 94,000 brands, retailers, and suppliers already on the platform. Managing traceability and chain-of-custody data alongside existing supply chain processes on a unified platform accelerates progress, boosts efficiency, and reduces reliance on multiple systems. 

NexTrace Capability Highlights: 

Enables seamless lot and item-level tracing by tracking the movement of raw material lots and batches through their conversion into finished products Leverages AI to collect data from the multiple tiers of suppliers, while automatically associating transactions from one tier to the next, helping to reduce the burden on suppliers and increase data accuracy and tracing efficiency Allows suppliers to upload data from existing reports in one easy step, rather than necessitating manual data entry RFID scanning of serialized barcodes at source automatically links the multi-tier chain of custody data Integrates supplier ESG data and certificates with traceability information, providing a comprehensive view of sustainability and compliance throughout the supply chain Creates a digital link and visualization to share traceability and product information with consumers, enhancing transparency and trust throughout the supply chain Tracing data automatically updates the network graph creating linkages between products and materials providing a higher fidelity map of your supply chain network 

“Vendors will be eager to tout their Digital Product Passport solutions at NRF, but their focus is often on flashy features, rather than the minutiae of how to feed such data-hungry systems. At NRF, we look forward to demonstrating how trace data is built and how to scale a system of this magnitude,” said Carelli. 

To learn more about building a more responsible supply chain, visit https://www.infor.com/solutions/scm/infor-nexus/sustainability

About Infor Nexus 

Infor Nexus™ is the leading global supply chain platform. Infor Nexus connects a network of over 94,000 brands, retailers, manufacturers, suppliers, logistics providers and banks on single-instance network platform to seamlessly orchestrate global supply chain processes from source through to delivery and payment. Companies streamline their operations to eliminate inefficiencies and waste while gaining data-driven insights and optimizing the flow of capital for improved agility, resilience, and sustainability. Visit www.infor.com/solutions/scm/infor-nexus

Media Contact: 
Alexandria Truby 
Senior Public Relations Specialist, Infor 
Alexandria.Truby@infor.com

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SOURCE Infor

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