A new report released by Technavio, a market research firm, forecasts that the global ATM market will grow by 6.06% during 2021-25.
The report, Automated Teller Machine Market by Deployment and Geography – Forecast and Analysis 2021-2025, finds that “The automated teller machine market value is projected to grow by USD 6.94 billion at a CAGR of 6.06% during 2021-2025.” During 2021, the global ATM market will grow by 4.86%
Findings show that the global COVID-19 pandemic has affected the ATM market. However, it should reach a more normal state of activity by the 3rd quarter of 2021 (best case scenario) or by the first quarter of 2022 (worst case scenario).
Other Findings Include:
- Asia, Africa and South America are among the fastest growing global ATM markets.
- Growth in the Asia-Pacific market will reach up to 48%.
- Mobile ATMs are driving market growth.
- In 2020, offsite ATMs were the biggest market segment.
With more and more countries beginning to slowly open up after COVID-19 lockdowns, ATM owners and deployers are eager to see the tide turn in the market stall caused by the pandemic.