ATM Services Supplier & Cost Intelligence Report, 2030

ATM Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

  • Published Date: ---
  • Base Year for Estimate: 2022
  • Report ID: GVR-P-UC-108
  • Format: Electronic (PDF)
  • Historical Data: 2020 - 2021
  • Number of Pages: 0

ATM Services Category Overview

The ATM Services category is anticipated to grow at a CAGR of 5.6% from 2023 to 2030. Asia Pacific region accounts for the highest ATM usage. According to Asian Banking & Finance, the Asia Pacific region accounted for more than 40% of the number of automated teller machines globally in 2021. Owing to technological advancement, the category has seen a drastic transformation and has changed the cash systems. Banks are aiming to enhance the speed, security, and user-friendliness of their ATMs. Some of the key trends in the industry include cash recycler, contactless transactions, cash withdrawals, more appealing user interfaces, mobile integration, biometric identification, and remote teller assistance to name a few. Cash recycling would help the machines to accept, sort, validate, and store banknotes. This can enable customers to use machines to withdraw and deposit cash eventually reducing labor costs. According to UK’s RBR 2023 report, from 2020 to 2021, the number of cash-recycling ATMs installed globally grew from 973,000 to more than a million.

Cardless ATMs technology, an emerging feature, allows users to withdraw money through apps installed on their mobiles without the necessity to physically operate the machines. In June 2023, the Bank of Baroda, a nationalized bank in India, announced the launch of a cardless cash withdrawal facility, where users can withdraw cash using the UPI system at the bank’s ATM. Additionally, face biometrics at cardless machines is enabling face-based authentication in order to avoid fraud through the use of stolen cards or fake cards. According to biometric’s June 2023 report, around 13,000 of Japan’s seven bank ATMs possess face biometric technology.

Full-service machines can act as a customer's initial point of contact with the bank. Rather than solely performing transactions, ATMs have the potential to become instruments for fostering relationships between banks and customers by offering services such as opening accounts, issuing cards instantly, printing checkbooks, and utilizing other versatile technologies. Through Remote Teller Technology, video banking allows customers to engage with the bank and carry out a majority of branch activities using real-time communication and video.

Manufacturing and installation of the machines may cost around USD 50,000 to 55,000. Cash services such as transporting cash between points, which is the major cost component, account for around 35 to 50% of the total cost. In-house service may cost up to 35% of the entire annual operational cost for the financial institutions whereas outsourcing the entire operations can save them up to 25%. ATM installation, maintenance, security, cash management, and compliance are some of the major cost components. Maintenance charges may vary on the basis of where the machine is located, and how much traffic it generates. Installation of ATMs may range from USD 200 to 300 per machine. ATM machine prices can range from USD 2,000 to 8,000. Carefully evaluating the nature of the service provider and the expenses associated can help the vendor to save on overall costs. 

The threat of substitutes is moderate. Although advancements in digital banking and online payment systems have reduced the dependence on physical cash, ATMs still play a crucial role in providing convenient access to cash withdrawals, balance inquiries, and other services. However, the emergence of alternative payment methods like mobile payment apps and digital wallets could potentially pose a substitute threat in the long run.

The category saw a slight reduction during the COVID-19 pandemic owing to lockdowns, travel restrictions, and social distancing measures that resulted in reduced foot traffic at ATMs. According to the Payments Industry Intelligence 2022 report, it is observed that there was a reduction in the number of ATMs by 2% in 2021 worldwide. Post-pandemic, as everything normalized, ATM usage saw an increase but precautions such as contactless transactions gained momentum which has resulted in the implementation of cardless services.

Outsourcing of ATM software development, testing, and distribution is the most preferred type of sourcing by banks. Banks, financial institutions, and other users are continuously seeking to outsource their category operations to third-party operators who can handle maintenance, cash management, and other responsibilities. This enables the banks, and financial institutions staff to deal with other priorities along with significantly saving on cost. Shifting the managing task to a third party can also boost customer satisfaction. Maintaining long-term relationships with the service provider is also considered to be beneficial as it helps the vendor such as banks, and financial institutions to know the service provider better and save on searching and evaluating new service providers. The use of such practices in sourcing the services can ensure customer satisfaction, and quality services over the long run.

ATM Services Procurement Intelligence Report Scope

Report Attribute


ATM Services Category Growth Rate

CAGR of 5.6% from 2023 to 2030

Base Year for Estimation


Pricing growth Outlook

5 - 10% (annual)

Pricing Models

Full Service Outsource Pricing, Price for services offered, Competition based pricing

Supplier Selection Scope

End-to-end service, cost and pricing, compliance, security and data protection, service reliability and scalability

Supplier selection criteria

Machine quality, services offered, post-sale services, end to end services, track record and reputation, cash management, traffic handling capacity, technical support, upgrade timeline and options, multifunctional machine

Report Coverage

Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies profiled

Diebold Nixdorf, AGS Transact Technologies Ltd., Brink’s Incorporated, AEPS India, NCR Corporation, Loomis Armored US, LLC, Prineta LLC, NationalLink Inc., ATM USA, LLC, Hyosung Global

Regional scope


Revenue Forecast in 2030

USD 11.1 billion

Historical data

2020 - 2021

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2030

Customization scope

Up to 48 hours of customization free with every report.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Frequently Asked Questions About This Report

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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