ATM Managed Services in India are driven by the Growth in Number of ATMs, Increasing Penetration of White Label ATMs and the rapidly increasing trend for Outsourcing ATMs by the Banks: Ken Research
Economic advancement in the country, increase in income level generally in urban areas due to growth in job opportunities and evolution to mass banking from class banking have driven the market for India ATM managed services industry in recent years.
Growth in Branchless Banking: Banks are focusing on improving branchless banking in India by creating E-Lobbies, which are specifically designed to improve customer service and ease of doing transactions. The e-lobbies are allowing banks to offer customers all banking transactions, information and solutions around the clock through the 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.
Breakthrough technology in banking services: As market awareness increases, ATM equipment manufacturers are focusing more on product innovation and the addition of the 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. The use of mobile apps for ordering food and shopping for products through a variety of apps like (Flipkart, Amazon, Myntra for product shopping and ordering food – Zomato, Swiggy, and others) has significantly increased, which has resulted in an increase in credit card and debit card transactions as well as M-wallet users.
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The surge in Power Cuts and High Cost of New Technology: In India, the largest challenge for ATM operators is the inconsistent electrical supply. High cost of new technology for upgrading the ATMs has become a major concern in the market. The operating systems (OS) upgrade from Windows XP to Windows 10 or Windows 7 in all ATMs is very difficult.
Analysts at Ken Research in their latest publication “India ATM Managed Services Market outlook to FY2027” observed the potential of ATM-managed services in India. The increasing number of ATMs in India, technological advancements, the improving banking services in India, and the increased number of banked populations are expected to contribute to the market growth over the forecast period. The India ATM Managed Services Market is expected to grow at 5.4% CAGR over the forecasted period FY’2022-FY’2027F owing to the increasing demand for managed services by banks in rural and semi-urban areas.
Key Segments Covered in the Report
ATM Managed Services Market:
- By Type of Service Offerings
- Site Management
- Cash Management
- ATM Supply
- Transaction Processing
- Repair and Maintenance
- Cash Reconciliation Statement
- Content and Electronic General Management
- By Type of ATM
- Managed Services
- Brown Label ATM
- Managed By Banks
- White Label ATM
- By ATM Machine
- Cash Dispenser
- Cash Recycler
- By Model
- Fixed Pay
- Variable Pay
Cash Management Market:
- Types of Services
- ATM Replenishment
- CIT
- CPD
- Others
- Market Share of Major Players
- By no. of ATM Replenished
- By Revenue
ATM Supply Market:
- By shipments:
- New Shipments
- Replacement
- Market Size by Revenue
- Market Share of Major Players by no. of ATMs supplied
Key Target Audience
- 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
Time Period Captured in the Report:
- Historical Year: FY2016-FY2026
- Base Year: FY2022
- Forecast Period: FY2022 – FY2027F
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
- And Others
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Key Topics Covered in the Report
- India ATM Managed Services Market Size (FY’2016-FY’2022)
- India ATM Managed Services Market Overview
- India ATM Managed Services Market Segmentation By Type Of ATMs (Managed Services, Brown Label ATM, Managed By Banks, White Label ATMs)
- India ATM Managed Services market Segmentation By Type Of ATM Machine (Cash Dispensing And Cash Recyclers)
- India ATM Managed Services Market Segmentation By Service Offerings (ATM Repair And Maintenance, ATM Site Management, Transaction Processing, Cash Reconciliation Statement, Content And Electronic Journal Management )
- India ATM Managed Services Market Segmentation By Business Model (Fixed Pay Model And Variable Pay Model)
- India ATM Cash Management Services Market Segmentation By Services (ATM Replenishment, CIT, CPD And Others)
- India ATM Managed Services market Ecosystem And Value Chain Analysis
- Snapshot on India ATM Cash Management Services Market.
- Snapshot on India ATM Supply Market
- Decision Making Process And Tender Process Applicable In India ATM Managed Services Market
- Trend And Developments In India ATM Managed Services Market
- Issues And Challenges In India ATM Managed Services Market
- Impact of Demonetization and COVID-19 on the ATM Managed Services Market
- Current Deployment and Future growth of Cash Recycling Machines in India
- Recent Investment Details (Mergers, Acquisition And Partnerships) In India ATM Managed Services Market
- Complete Competition Analysis Including Heat Maps & Strength and Weakness Of The Major Companies.
- Competitive Landscape Of Major Players In India ATM Managed Services Market
- SWOT Analysis Of India ATM Managed Services Market
- Future Outlook And Projections Of India ATM Managed Services Market (FY’2022-FY’2027F)
- Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
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