Analysts at Ken Research in their latest publication “Saudi
Arabia ATM Managed Service Market Outlook to 2023 - By ATMs (On-Site ATM,
Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair
& Maintenance, ATM Site Maintenance), By ATM Machine (Cash Dispensers, Cash
Recyclers) and By Cash Management Services (Cash Replenishment Service,
Cash-in-Transit, Others - Cash Processing, Cash Vaulting, Cash Reconciliation
& Cash Forecasting)” believes that an increase in number of ATMs, Adoption of cards by the people and
Increase in number of ATMs outsourced by Bank would surge the overall
revenue generated in Saudi Arabia ATM Managed Services Market. The market has
witnessed a positive CAGR of close to 5% in terms of
revenue generated from ATM managed services, during the review period
2013-2018.
Increase in number of ATMs, increasing number of cards in the
economy, rising bank’s demand for outsourcing managed service and entry of
global players in the market will be the key factors driving growth in Saudi Arabia
ATM Managed Service Market.
Rise in the Number of ATMs in Saudi Arabia: Saudi
Arabia ATM Managed Service Market has witnessed strong growth in ATM Managed
services owing to increase in number of ATMs. During the review period 2013 to
2018 number of ATMs in the Kingdom has increased at a CAGR of close to 6%. Companies
are offering advanced, non–traditional and self service options to customers
for cash withdrawals from ATMs.
The introduction of new breed of ATM machines such as cash recyclers,
multifunctional ATMs touch screen ATMs, biometric ATMs in the market will
ensure more transactions in an ATM as these machines provide a bunch of
services apart from cash withdrawal including cash deposit, updating passbook,
statement enquiry, bill payment and others. Increase in number of transactions
will have a positive impact on revenues of managed service providers.
Promotion of Financial Inclusion by SAMA: It is
expected that robust initiatives taken towards financial inclusion in Saudi
Arabia will have a positive impact on number of transactions in Saudi
Arabia. SAMA has already set an upper
limit on charges and commissions that banks apply when providing products &
services. In addition to this, there are no additional charges borne by the
customer while making any withdrawal transactions from an ATM. Such initiatives
promote the accessibility & usability of cards in the economy.
Players operating in the ATM managed
Service Market have consistently adopted innovative strategies in order to gain
a competitive advantage. Companies have started to expand their product
portfolio by providing a wide range of value added services to the new and existing
customers. The managed service providers are focusing on increasing the number
of ATMs they are managing in the Kingdom by offering quick response time,
technological advancements in their offerings and more flexibility in terms of
pricing.
Keywords
KSA ATM Market Research Report
Saudi Arabia ATM Service Market
Saudi Arabia ATM Managed Services Market
Saudi Arabia ATM Cash
Management Service Market
Saudi Arabia ATM Cash
Replenishment Market
Saudi Arabia ATM Maintenance Market
Saudi Arabia ATM Repair & Maintenance Market
Saudi Arabia ATM Managed Service Market Revenue
Saudi Arabia ATM Managed Service Providers
Saudi Arabia ATM Cash
Management Companies
Saudi Arabia ATM Industry
Research Report
Saudi Arabia ATM Managed Service Segment Revenue
Saudi Arabia ATM Managed Service Market Analysis
Saudi Arabia Cash Management Service Market Analysis
ATMs managed by managed service providers in Saudi Arabia
ATM Cash management companies in Saudi Arabia
Saudi Arabia ATM managed service outsourcing
Saudi Arabia ATM Industry Growing
Saudi
Arabia ATM Managed Service Future
Saudi Arabia ATM Forecast
Key Segments Covered
in Saudi Arabia ATM Managed Service Market
By Type of ATMs (On
the basis of Number of ATMs)
On-Site ATMs
Off-Site ATMs
Mobile ATMs
By Service Offerings (On
the basis of Revenue)
Cash Management
Services
ATM Repair &
Maintenance
ATM Site Maintenance
By Type of ATM
Machine (on the basis of Number of Machines)
Cash Dispensers
Cash Recyclers
By Service offerings
of Cash Management Companies (On the basis of Revenue)
Cash Replenishment
Service
Cash-in-Transit
Other cash management
services including cash processing, cash vaulting, cash reconciliation &
cash forecasting
Key Target Audience
Managed Service Providers
Major ATM Suppliers / Vendors
Cash Management Companies
Banks
Saudi Arabian Monetary Authority (SAMA)
Investors
Facility Management Companies
Time Period Captured
in the Report:
Historical Period – 2013-2018
Forecast Period – 2019-2023
Companies Covered:
Abana
Abu-Sarhad
Hamrani
NCR
Hyosung
Sanid
Hemaia Group
G4S Almajal
AMNCO
For more
information on the research report, refer to below link:-
Related Reports:-
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Ankur Gupta, Head Marketing & Communications
+91-9015378249
