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The LAMEA ATM Market Size is estimated to witness at a market growth of 9.4% CAGR during the forecast period (2016 - 2022).
According to a global research in the banking sector, the total number of cash withdrawals is rising approximately at a rate of 8% annually, in comparison to the growth rate of number of ATM installations per year, which is just about 7%. The emerging markets such as Middle East, Latin America, and Africa are the potential markets and the growth in the use of ATM machines is anticipated to outpace the growth in the number of ATM machine installations. ATMs were first invented four decades ago; during the last few years, substantial technological happened in the ATM technology. With technological changes, number of ATM frauds is increasing significantly. Due to such imbalance in the ecosystem, it is increasingly becoming difficult to offer secure platform for customers to access their account details and bank accounts. The ATM standards are devised by, namely International Organization for Standardization (ISO), Scrutiny Standards Council (SSC), American National Standards Institute (ANSI), European payment council (EPC), Payment Card Industry (PCI) or are issued by vendors themselves. Additionally, the current versions of PCI PTS POI Security Requirements and PCI PIN Security Requirements are the most needed standards. Reserve banks, Federal Reserve systems, and European unions are extensively incorporating security standards and devices to minimize the number of ATM frauds, and such steps are paving the way for the growth of the Asia-Pacific ATM market.
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Following are the steps taken by deployment and managed service providers to curb fraudulent activities while using ATM machines. The analysis of the LAMEA ATM market is conducted based on solution, type, and geography. The Solutions section emphasizes on deployment solutions i.e., onsite ATMs, offsite ATMs, worksite ATMs and mobile ATMs and managed services. Rapid growth has been witnessed within the Offsite ATMs section in the recent years. Further, in terms of type, the ATM market is segmented into conventionalbank ATMs, brown label ATMs, White label ATMs, Smart ATMs, and cash dispensers. The report also provides a detailed analysis of key countries such as Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of LAMEA. Brazil remained the dominant region in the LAMEA ATM market in 2015. However, UAE would witness highest CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the ATM market. Key companies profiled in the report include Diebold, Incorporated, NCR Corporation, GRG Banking, HESS Cash Systems GmbH & Co, Nautilus Hyosung, Fujitsu Limited, Euronet Worldwide Inc., Hitachi Ltd.