LAMEA ATM Software Market Size, Share & Industry Trends Analysis Report By End User (Banks & Financial Institutions and Independent ATM Deployer), By Function (Cash Dispenser, Bill Payment, Card Payment and Cash Deposit), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa ATM Software Market would witness market growth of 10.1% CAGR during the forecast period (2022-2028).
The software's interface is created with ease of use in mind. Compared to the current system, the software's security is improved. The system also enables the payment of other bills, including electricity and credit card bills. Compared to the current system, the operational speed is faster.
Easy access to cash, an increase in transactional advantages, quick withdrawals, and the viability of both online and offline shopping have fueled ATM usage around the world, which is positively impacting the expansion of the ATM market. Aside from this, the convenience that ATMs provide foreign visitors by enabling them to convert foreign currency into the necessary local currency is also significantly driving this market.
These days, onsite ATMs are installed in bank buildings, where customers can use both the ATM and the actual bank. As a result, the workload of bank employees is reduced, and customers can avoid standing in long lines for cash transfers, deposits, and withdrawals. ATMs help banks conduct efficient financial transactions by lowering the frequency of errors.
The ATMs are in high demand in the region which is primarily being driven by the expansion of the tourism industry. The number of tourists to the nations such as the UAE has increased as a result of the relaxation of COVID-19 protocols as well as border controls worldwide. As tourism grows, travelers from different nations will need more cash in hand, opening up new market opportunities. White label ATM deployment offers scalability benefits because non-banking entities handle the operational tasks, allowing bankers to concentrate on growing their network to meet the rising demand.
The Brazil market dominated the LAMEA ATM Software Market by Country in 2021; thereby, achieving a market value of $139.8 million by 2028. The Argentina market is exhibiting a CAGR of 10.7% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 9.8% during (2022 - 2028).
Based on End User, the market is segmented into Banks & Financial Institutions and Independent ATM Deployer. Based on Function, the market is segmented into Cash Dispenser, Bill Payment, Card Payment and Cash Deposit. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global ATM Software Market is Predict to reach $6.1 Billion by 2028, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc., GRGBanking Equipment Co., Ltd., SBS Software Ges.mbH., Paragon Application Systems, Inc., Fidelity National Information Services, Inc., KAL ATM Software GmbH, Vortex Engineering Pvt. Ltd. and CR2
Scope of the Study
Market Segments Covered in the Report:
- Software (without Services)
By End User
- Banks & Financial Institutions
- Independent ATM Deployer
- Cash Dispenser
- Bill Payment
- Card Payment
- Cash Deposit
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Fiserv, Inc.
- GRGBanking Equipment Co., Ltd.
- SBS Software Ges.mbH.
- Paragon Application Systems, Inc.
- Fidelity National Information Services, Inc.
- KAL ATM Software GmbH
- Vortex Engineering Pvt. Ltd.
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