Increase in adoption of automated teller machine and implementation of digitalized technologies drive the growth of the Asia-Pacific ATM market. Based on solution type, the deployment solution segment held the major share in 2020. By region, however, the market across Philippines would cite the fastest CAGR by 2030.
Portland,OR, Aug. 05, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific ATM market was estimated at $6.38 billion in 2020 and is expected to hit at $9.46 billion by 2030, registering a CAGR of 4.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in adoption of automated teller machine and implementation of digitalized technologies drive the growth of the Asia-Pacific ATM market. On the other hand, lack of security standards restrains the growth to some extent. However, untapped potential on emerging economies has been highly beneficial for the market growth.
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• An economic recession & declined disposable income led to huge reduction in the use of traditional or physical bank services. The use of ATMs for withdrawing money got reduced significantly due to the threat of the spread of novel corona virus through direct contact from public ATMs.
• Nevertheless, the situation across the region is being ameliorated on a gradual note, and the market is projected to recoup soon.
The Asia-Pacific ATM market is analyzed across solution type, deployment solution, type, and country.
Based on solution type, the deployment solution segment accounted for nearly two-thirds of the total market share in 2020, and is expected to lead the trail by the end of 2030. The managed services segment, on the other hand, would register the fastest CAGR of 5.5% during the forecast period.
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Based on type, the brown ATM segment contributed around one-third of the total market revenue in 2020, and is anticipated to rule the roost by 2030. The smart ATM segment, on the other hand, would cite the fastest CAGR of 10.9% during the forecast period.
Based on region, the market across China held the major share in 2020, garnering half of the Asia-Pacific ATM market. Simultaneously, the market across Philippines would showcase the fastest CAGR of 9.5% from 2021 to 2030.
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The leading market players analyzed in the Asia-Pacific ATM market report Diebold Nixdorf, Incorporated, Euronet Worldwide Incorporation, Fujitsu Ltd, GRG Banking Equipment Co. Ltd., CASH2GO ATMs, Shenzhen Yihua Computer Co., Ltd., Hitachi-Omron Terminal Solutions Corporation, Hyosung, NCR Corporation, and Next Payments Pty Ltd. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the induStry.
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