Growth in Branchless Banking: Banks are focusing on improving the branchless banking in India by creating E-Lobbies, which are specifically designed to improve the customer service and ease of doing transactions. The e-lobbies are allowing banks to offer customers all banking transactions, information and solutions round the clock through deployment of cash recyclers, cash dispensers and multi-functioning kiosks. E-lobbies deployed by banks provide self-service facilities including cash withdrawals, cash deposits, card-to-card transfers, passbook printing, NEFT, SMS alerts and many such banking services without the help of the physical staff of the bank. With the changing dynamics of digital payments, ATMs, which are now a prominent fixture in every Indian town, are proving insufficient for the transitioning requirements of digitally savvy customers. Accordingly, e-lobbies and cash recyclers have been launched to enhance customer experience, and these services have proved extremely beneficial.
Increased focus on Innovation: As market awareness increases, the ATM
equipment manufacturers are focusing more on product innovation and addition of
latest technologies. Self Service ATM is one such breakthrough technology that
combines multiple features into a single machine. These ATM machines serve as a
one stop solution for tasks such as cash deposit, withdrawal, check deposit,
coin dispense, internet banking, other banking products and solutions such as
credit cards & loans, opening and changing of bank accounts, options for
video assisted remote teller so that the bank could step forward towards branch
automation.
Surge in Debit Card Usage and Demand
for advanced ATM Services:
Due to in an increase in government initiatives such as PMJDY, the debit card
penetration has grown tremendously in India and is anticipated to grow in the
future. As a result, with the increment of debit card usage, customers tend to
expect instant and advance ATM services for withdrawing cash and availing other
services. Therefore, banks and financial institutions have reinvested in their
ATM managed services in order to accelerate better user experience in the
market. Thus, increased usage of debit cards at the ATMs is fueling the growth
of ATM Managed Services Market in India.
The report titled “India
ATM Managed Services Market Outlook to FY2026” by Ken Research suggested that the ATM
Managed Services Market is expected to grow at a single digit positive CAGR.
Increasing number of ATMs and higher dependency on MSPs by the Banks are
driving the market in India. The ATM Managed Services revenue in India is
expected to grow over the next few years owing to the increasing demand for
managed services by the banks in rural and semi-urban areas.
ATM Managed Services Market
Market Size – By Revenue
Market Segmentation – By Type of Service Offerings
(Site Management, Cash Management, ATM Supply, Transaction Processing, Repair
and Maintenance, Cash Reconciliation Statement, Content and Electronic General
Management)
Market Segmentation – By Business Model (Managed
Services, Brown Label ATM, Managed By Banks, White Label ATM)
Market Segmentation –By ATM Machine (Cash Dispenser
and Cash Recycler)
Market Segmentation – By Model (Fixed Pay, Variable
Pay)
Market Share of Major Players in the ATM Managed
Services Market
Cash Management Market
Market Size by Revenue
Market Segmentation (ATM Replenishment, CIT, CPD and
Others)
Market Share of Major Players – By no. of ATM
Replenished
Market Share of Major players – By Revenue
ATM Supply Market
Market Size by Revenue
Market Share of Major Players by no. of ATMs supplied
Time Period in the Report:-
Historical Period: FY’2016-FY’2021
Forecast Period: FY’2022E–FY’2026E
Key Target Audiences:-
ATM
Managed service providers
Cash
management companies
ATM
Manufacturers
White
Label ATM Management companies
Public
and Private Sector Banks including Payments Banks
Reserve
Bank of India (RBI) and NHB
ATM
Switch companies
Cash
Reconciliation Companies
Digital
Payments Merchants
VC &
PEs, Investment Bankers
Merchant
Bankers
Companies Covered:-
Hitachi Payments
AGS Transact
Diebold Nixdorf
NCR Corporation
Euronet
FSS
FIS
Tata Communication Payment
EPS
CMS Infosystems
Writer Business Services
Hyosung
OKI
Perto
Brink’s Arya
SIS Prosegur
For More Information,
refer to below link:-
India ATM Managed Services Market
Related
Reports:-
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