ATM managed services—also referred to as ATM-as-a-service—are a full range of expert services offered to banks, financial institutions, and other companies that install ATMs for their operations. These services are professional and complete. Cash management, surveillance, maintenance and caretaker services, ATM replenishment and network monitoring, ATM procurement and deployment, and other services are among the many things it works with and provides. Additionally, banks, financial institutions, and other organisations can increase their operational efficiency, profitability, performance, and cardholder satisfaction by focusing on more productive tasks and utilising ATM management services.
According to SPER market research, ‘India ATM Managed Services Market Size– By Type of Service Offerings, By Business Model, By ATM Machine Channel, By Model- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the India ATM Managed Services Market is predicted to reach USD XX billion by 2032 with a CAGR of XX%.
Advanced ATM services are in more demand as a result of the banking, financial services, and insurance (BFSI) industry’s notable rise. This market development is being driven by factors including the increase in money transaction machines, security concerns, and maintenance requirements. ATM managed services have become increasingly popular because to the frequency of fraudulent activities, including magnetic stripe skimming, and the growing usage of debit cards. The industry is expanding as a result of government measures to improve authentication by switching from magstripe to EMV chips. The industry is also expanding as a result of the incorporation of Internet of Things (IoT) solutions, mobile technology, and self-service software with ATM services. Rapid digitalization, cooperative efforts between financial institutions, and the integration of technologies such as blockchain, near field communication (NFC), QR codes, and artificial intelligence (AI) in ATM managed services all contribute to the optimistic view.
The Indian banking industry is vital to the country’s economy. Automation has been made possible by new technologies like blockchain, artificial intelligence, and cybersecurity in banking. E-banking is becoming more popular than ATM banking since it offers more ease for transactions and other financial operations. The Indian market is severely hampered by this aspect. Additionally, e-banking allows users to handle a variety of financial activities, monitor their accounts, and pay bills online from anywhere at any time. This has led to a decrease in the number of ATMs worldwide, which has limited the usage of ATM services. Together, these elements have slowed the expansion of the Indian market.
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Impact of COVID-19 on the India ATM Managed Services Market
The market for managed ATM services in India has been significantly impacted by the COVID-19 outbreak. People are using digital payments more often instead of real currency as a result of the nation’s lockdowns and social distancing measures, which were put in place to stop the virus’s spread. The demand for ATM services has decreased as a result, which has an effect on ATM managed service providers’ earnings. A decline in the number of transactions and ATM uptime was caused by the decreased foot traffic in public areas, which left many ATMs unoccupied. The income and profitability of ATM managed service providers have suffered as a result.
India ATM Managed Services Market Key Players:
ATM managed services market revenue is anticipated to rise as India benefits from the Financial Inclusion and Jan Dhan Yojana programmes, as well as from rising awareness of ATM usage among semi-urban and rural populations. Additionally, some of the key players are Hitachi Payments, Hyosung, NCR Corporation, OKI, Perto, SIS Prosegur, Tata Communication Payment, Writer Business Services and some others.
India ATM Managed Services Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Type of Service Offerings:
By Business Model:
By ATM Machine:
By Model:
By Region:
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
India ATM Managed Services Market Future Outlook
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