ATM managed services is detailed collection of services delivered to financial institution, banks and several other business entities installing ATM machines. Such services comprise ATM service and repair, electronic journal & content management system, cash management, transaction processing, ATM deposit automation, software maintenance, and cash reconciliation services.
According
to the report analysis, ‘UAE
ATM Managed Services Market Outlook to 2024 – By Off-Site and On-Site ATMs and
By Type of Service (Cash Management Services, ATM Maintenance Services and ATM
Supply)’ states
that the UAE ATM managed services market was witnessed to be operating at its
growth stage, impending maturity as banks and ATM managed services companies
commence investing in innovative technology to automate their services. The
market is estimated to several in size owing to augment in cash management
services market. Banks in UAE have taken several steps in order to decrease
entire costs of operations. Apart from outsourcing management of the ATMs,
banks have begun decrease their commercial footprint by closing down branches,
merging with other banks and investment in technology-based services to
decrease the reliance on ATMs for customer services.
Off-Site
ATMs are installed in location where there are no branches such as hospitals,
malls and airports among others. The segment registered in the UAE throughout
2018. Additionally, the management of off-site ATMs is wholly outsourced to the
cash management companies. On-site ATMs on the other hand, are positioned near
bank branches, electronic service units and representative offices. For such ATMs,
cash management services and ATM maintenance services are outsourced while
safety and surveillance services are accomplished by the banks themselves.
Competition
stage within UAE ATM Managed Services Market
was witnessed to be highly concentrated between three foremost companies. For
cash management services, Transguard has a monopoly while Brink’s has just
begun to enter the market with a small market share. Transguard developed its
competitor G4S during 2018 to become the market leader in cash management and
security services. Also, Transguard handles an enormous proportion of cash in
circulation across the UAE while the remaining is controlled by banks. Finally,
competition with ATM supply market of the UAE was also seen to be greatly
concentrated amongst 2 companies namely NCR Corporation and Diebold Nixdorf.
At
Ken Research, UAE ATM Managed Services Market Report provides a comprehensive
analysis on the ATM managed services industry of UAE. The report covers several
aspects comprising market overview, value chain and ecosystem analysis, market
evolution, market segmentation by location of ATM i.e. off-site and on-site
ATMs and by the type of service i.e. cash management services, ATM maintenance
services and ATM supply services. The report also comprises trends and
developments, challenges, foremost cost components and profitability analysis
of ATMs around UAE, Regulatory framework and Snapshot on UAE ATM supply market.
Competition scenario includes market share on foremost ATM suppliers on the
basis of revenue and their company profiles. The report concludes with future
prognoses in the UAE ATM Managed services space and analysts commendations for
the same.
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=MjYzNjUz
The
significant growth in requirement for better management of ATMs in order to
advance the customer’s experience has led banks to implement the ATM managed
services. Further, UAE ATM managed services market is predicted to develop at
maximum pace throughout the review period on the account of augmenting the UAE
ATM market.
UAE
ATM managed services market is further predicted to develop in the forecast
period 2018-2024, driven by rise in total ATM transactions, augmented card
utilization and entry of countless players in the cash management services
segment. The ATM maintenance market of UAE is predicted to decline as newer
progressive technology in ATMs will be introduced over long term. The total
number of ATMs is also predicted to deduct as consolidation in the banking
industry is underway and as banks look to decrease costs, branches and ATMs are
estimated be closed down.
The
effective growth in need for better management and maintenance of ATMs is a
foremost factor which is probable to bolster the market of ATM managed services
in UAE region. Moreover, UAE is estimated to dominate the market of ATM managed
services in this region over the review period. Moreover, Europe region is
witnessing a proficient growth throughout the forecast period. This growth of
ATM managed services market in Europe region can be attributed to aspects such
increasing concern among several financial institutions towards consumer’s
experience.
For More Information, refer
to below link:-
UAE ATM Managed Services Market Research
Report
Related Reports
Follow Us
LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
