Upgradation of simple cash dispensers to multifunctional machines is expected to propel ATM market growth. The ability of these upgraded machines to perform functions such as fund transfer, bill payment, and mini-statements, in addition to dispensing cash provides a one-point solution to the customers, thus adding up to the popularity. Furthermore, the proliferation of drive-thru machines is expected to accelerate the ATM market growth. Drive-thru machines are ideal for people who have difficulty in leaving car to visit cash machines, due to either difficulty in finding parking space or gave babies in their cars.
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The advent of smartphones & next-gen connected technologies enabling safe, easy, & rapid cash access has considerably revolutionized ATM market in the recent years. With the concept of the Internet of Things gaining traction and the deployment of mobiles becoming more prominent across the globe, consumers are expecting banks to provide effective, accessible, connected, and user-friendly applications for dispensing cash. In a bid to remain competitive in the ATM industry, financial institutions have been making numerous efforts to provide cardless services to their customers through new software installations in automated teller machines that can be accessed via mobiles.
Technology is disrupting the trends with improvisation of basic cash dispensing machines to multi-functional machines. PCI compliance and other regulatory requirements, in addition to EMV upgrades, and new software & hardware functionalities are beginning to enter the industry. Growing trend of consolidation of ATM management through a single vendor to make it easier to implement new programs and processes is driving the ATM market growth. Many providers also offer regulatory compliance guarantees, releasing the financial institution of the cost and inconvenience associated with constantly changing regulations.
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Increasing threats to the security of the systems, due to increasing sophistication of the cyber-attacks is expected to pose a major threat to the ATM market. The companies are forced to upgrade the machine software to be equipped to tackle security breaches. In 2012, the operators in the industry were compelled to upgrade to Windows 7 from Windows XP before April 2014. Microsoft has now announced that the operators need to migrate from Windows 7 to Windows 10 by January 2020 to improve system performance and enhance security.
Some Point from Table of Contents:
Chapter 4 ATM Market, By Solution
4.1 ATM market share by solution, 2016 & 2024
4.2.1 Market estimates and forecast, 2013 – 2024
4.2.2 Market estimates and forecast, by region, 2013 – 2024
4.2.3 Onsite (Bank-owned)
22.214.171.124 Market estimates and forecast, 2013 – 2024
126.96.36.199 Market estimates and forecast, by region, 2013 – 2024
188.8.131.52 Market estimates and forecast, 2013 – 2024
184.108.40.206 Market estimates and forecast, by region, 2013 – 2024
220.127.116.11 Market estimates and forecast, 2013 – 2024
18.104.22.168 Market estimates and forecast, by region, 2013 – 2024
22.214.171.124 Market estimates and forecast, 2013 – 2024
126.96.36.199 Market estimates and forecast, by region, 2013 – 2024
4.3 Managed Services
4.3.1 Market estimates and forecast, 2013 – 2024
4.3.2 Market estimates and forecast, by region, 2013 – 2024
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