UAE ATM Managed Services Market Size, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts Till- 2024: Ken Research

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.

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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.  

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UAE ATM Managed Services Market Research Report

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UAE ATM Managed Services Market Research Report: Ken Research

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How UAE ATM Managed Services Market Is Positioned?

UAE ATM managed services market witnessed growth due to increase in ATM penetration, increase in value and volume of ATM withdrawals and improved liquidity in the market from 2013 to 2018. The total number of ATMs have increased from 2013-2018 at a CAGR of %. The market is currently concentrated to one company in managed services and two companies in ATM supply. Profitability associated with ATM managed services is highly correlated with factors such as branch expansions, introduction of new breed of ATM machines such as cash recyclers, multifunction ATMs & biometric ATMs, improvement in customer retention schemes, maintaining recurring clients by exceeding the service level agreement and having diversified services portfolio offered by well trained professionals. Currently, ATMs operate as cost centres in UAE as Banks incur losses. UAE ATM Managed Services market has grown from AED ~Million in 2013 to AED ~Million in 2018, at a CAGR of ~%. ~, ~ and ~ are the three main players in ATM Managed Services Market. The ATM Supply market has been analyzed to be AED ~ Million in 2018.

The number of ATMs in UAE has increased to ~ as of 31^st December, 2018 from ~ as of 31^st December, 2013 experiencing a moderate YOY decline of ~% during 2017-2018. The growth in ATMs can be attributed to an increase in bank branches, from 2013-2016. Thereafter, a slowdown in growth of ATMs was witnessed due to declining bank branches.

Similarly, the number of bank branches has decreased from ~ in 2013 to ~ in 2018. This decline in bank branches was witnessed due to merger of major banks which led to reduction of branches and ATMs to reduce costs. Total cash in circulation has increased AED ~ Billion in 2013 to AED ~ Billion in 2018.The value of transactions through ATMs has increased from AED ~ Billion in 2013 to AED nearly AED ~ Billion in 2018, at a CAGR of ~%. The volume of ATM transactions have increased from ~ Million 2013 to nearly ~ Million in 2018, at a CAGR of ~%.

UAE ATM Managed Services Segmentation

By Location (Off-Site and On-Site ATMs)

In Off-site ATMs, the right of ownership of the ATM machine remains with the banks and rest other management services such as cash replenishment, transaction processing, first and second line maintenance, site maintenance and security are being outsourced to the managed service providers. Generally, in UAE, banks outsource their off-site ATMs managed services to single or multiple vendors as it makes their margin on profitability higher. ATMs which are operating under this category generally deployed where there are no bank branches.

By Type of Services (Cash Management, ATM Maintenance, ATM Supply)

Cash management services have contributed the highest share in the ATM Managed Service category in UAE. Transguard has a near monopoly over the cash management services for banks in UAE. Brinks Cash Logistics is a far second competitor with a % market share. Cash management companies charge approximately AED for Off-Site ATMs and AED for On-Site ATMs on a monthly basis for providing a bundle of services including cash replenishment, CIT, cash processing, cash vaulting, etc. However, the final cost depends on the basis of number of trips, location of the ATM, number of ATMs replenished, among others.

Snapshot On ATM Supply Market Of UAE

The revenue from ATM Supply market in UAE amounted to AED ~ Million in the year 2018, with sales of about ~ ATMs during 2018.

Competitive Scenario Of UAE ATM Managed Services Market

The market in the ATM Supply Market in UAE is completely concentrated between two companies, NCR and Diebold Nixdorf. NCR is the market leader in UAE followed by Diebold Nixdorf. Two manufacturers Diebold and Wincor merged to form Diebold Nixdorf. There are two major companies in UAE supplying ATM Machines namely NCR and Diebold Nixdorf. NCR is the market leader in the ATM supply segment with a ~% market share while the remaining ~% & share is held by Diebold Nixdorf.

Companies operating into ATM supply segment compete on the basis of following factors. Pricing of the ATM is the major factor that distinguishes vendors from each other. In UAE, banks generally buy ATM machines once or twice a year in bulk. The machine comes with a warranty of ~ year. Charges for second line maintenance and first line maintenance are waived off during this period. The average life of an ATM machine is expected to be ~ years. A basic ATM machine generally cost AED ~.

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UAE ATM Managed Services Market

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Contact Us: 

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249