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Automated Teller Machine (ATM) Market to Grow by USD 6.2 Billion (2025-2029), Multifunctional Features Boosting Growth, AI’s Impact – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global automated teller machine (atm) market size is estimated to grow by USD 6.2 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 4.6% during the forecast period. Multifunctionality features in atms is driving market growth, with a trend towards growing demand for cash recycling atms However, high costs associated with atms poses a challenge.Key market players include Atlas Ontario LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Incorp., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Channel Solutions Corp., Lipi Data Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd., Paycorp Investments Proprietary Ltd., Source Technologies, SPL Computer Trading GmbH, The Brinks Co., and Triton Systems.

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Automated Teller Machine (ATM) Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 4.6%

Market growth 2025-2029

USD 6186 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.2

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 62%

Key countries

US, China, Canada, Germany, UK, India, Japan, France, Brazil, and UAE

Key companies profiled

Atlas Ontario LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Incorp., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Channel Solutions Corp., Lipi Data Systems Ltd., NCR Voyix Corp., Oki Electric Industry Co. Ltd., Paycorp Investments Proprietary Ltd., Source Technologies, SPL Computer Trading GmbH, The Brinks Co., and Triton Systems

Market Driver

The Automated Teller Machine (ATM) market is thriving, with trends such as cash withdrawal, fund transfer, and deposit services driving growth. Technology advancements like biometric authentication and smart ATMs are transforming the banking sector in developed and emerging countries. Manufacturing operations are focusing on digital platforms to meet the increasing demand for interactive machines. Security mechanisms and fraud prevention are key concerns, with contactless ATM kiosks and mobile banking gaining popularity. Lack of awareness and digital payment adoption in rural areas present opportunities for expansion. NCR Corporation and Diebold Nixdorf lead the market, offering managed services, deployment solutions, and upgrading services. Geographical expansion through onsite, offsite, worksite, and mobile ATMs is a priority. Partnerships with entities like Members ATM, credit unions, Walgreens, Hitachi Terminal, and cash recycling machines are essential for growth. Hitachi’s frictionless technology using vein patterns and near-infrared light is a game-changer. The World Bank’s EMV migration and reduction of cashbased transactions are influencing market trends. 

The ATM market is witnessing a growing demand for automatic cash recycling systems, including automated teller safes and self-service cash recycling machines. Financial institutions seek to enhance revenue growth, provide superior customer service, and optimize costs. Frequent cash withdrawals by retail customers in specific areas necessitate regular cash replenishment, leading to increased expenses for banks in terms of labor costs, hiring teller staff, and opportunity costs of keeping substantial cash reserves in ATMs. In the conventional banking setup, tellers are responsible for managing cash levels. To address these challenges, banks are adopting advanced ATM technologies to streamline operations and reduce costs. 

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Market Challenges

The Automated Teller Machine (ATM) market is witnessing significant growth in both developed and emerging countries. Cash withdrawal, fund transfer, and deposit services are the primary functions driving this growth. Technology advancements, such as biometric authentication and smart ATMs, are transforming the banking sector. However, challenges persist, including security mechanisms for fraud prevention and contactless ATM kiosks in the digital age. Manufacturing operations for ATMs require upgrading services and product portfolio expansion. Lack of awareness in rural areas and cashbased transactions in some regions pose challenges. NCR Corporation and Diebold Nixdorf are key players, offering managed services, deployment solutions, and various ATM types like onsite, offsite, worksite, and mobile. Geographical expansion and partnerships with entities like credit unions, Walgreens, Hitachi, and Members ATM are strategic moves. Cash recycling machines, EMV migration, and frictionless technology are future trends. The World Bank supports ATM deployment to reach the unbanked population.ATMs serve as valuable tools for banks by automating cash dispensing and recycling, reducing the number of customers visiting branches for basic transactions. However, the adoption of ATMs comes with associated costs. Banks bear expenses for the machine’s purchase, monthly rentals for branch or offsite locations, electricity bills, and security personnel. While customers pay for transactions, many countries offer a set number of free transactions. These costs and considerations impact the overall financial implications for banks implementing ATM services.

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Segment Overview 

This automated teller machine (atm) market report extensively covers market segmentation by

Type 1.1 Brown label1.2 White label1.3 OthersDeployment 2.1 Offsite ATM2.2 Onsite ATM2.3 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Brown label- The deployment of non-banking business owned ATMs, known as brown label ATMs, is experiencing significant growth in the global Automated Teller Machine (ATM) market. These ATMs, operated by third-party service providers, enable non-financial businesses to enter the financial services sector. The increasing demand for cash and the need for cost-effective ATM deployment are driving the popularity of brown label ATMs. Additionally, governments worldwide recognize their potential in promoting financial inclusion, particularly in rural areas. For instance, the Indian government is actively supporting the installation of brown label ATMs to expand access to banking services. The Reserve Bank of India’s recommendations have also contributed to their increased usage in India. As a result, the expanding adoption of brown label ATMs is expected to boost the growth of the market during the forecast period.

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Research Analysis

Automated teller machines (ATMs) are digital banking solutions that enable cash withdrawal, fund transfer, and deposit services outside of traditional banking hours. Technology advancements have led to the development of smart ATMs, offering biometric authentication, digital platforms, and expanded functionalities. The banking sector in developed and emerging countries continues to adopt ATMs for manufacturing operations, rural areas, and various worksites. Security mechanisms are a crucial aspect of ATM manufacturing, ensuring safe transactions. Onsite, offsite, worksite, mobile ATMs cater to diverse customer needs. NCR Corporation and Diebold Nixdorf are significant players in the market, providing system reconstruction, repair & maintenance, upgrading services, and portfolio expansion through contracts and geographical expansion. Members ATMs, including those for credit unions, also contribute to the market’s growth. Overall, the ATM market continues to evolve, offering convenience and digital banking services to a broader audience.

Market Research Overview

Automated teller machines (ATMs) have revolutionized the banking sector, enabling cash withdrawal, fund transfer, and deposit services around the clock. Technology advancements continue to drive the market, with biometric authentication and smart ATMs becoming increasingly popular. Developed and emerging countries are deploying ATMs to expand financial inclusion, focusing on manufacturing operations and digital platforms. Rural areas and worksites also benefit from onsite and mobile ATMs. Security mechanisms and fraud prevention are crucial considerations, with contactless ATM kiosks and ecommerce integration adding convenience. However, lack of awareness and digital payment infrastructure remain challenges. Interactive machines, managed services, and deployment solutions are key offerings from major players. Geographical expansion and product portfolio expansion through contracts and partnerships are common strategies. Cash recycling machines and manufacturing capacity expansions are priorities for leading manufacturers like NCR Corporation, Diebold Nixdorf, Hitachi, and others. The World Bank supports EMV migration to enhance security and reduce cash-based transactions. The unbanked population in emerging economies presents significant opportunities for growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBrown LabelWhite LabelOthersDeploymentOffsite ATMOnsite ATMOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Solestial to be Featured in Google Workspace Big Game Commercial

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Space startup to represent Arizona in Google’s “50 States, 50 Stories” campaign

TEMPE, Ariz., Feb. 6, 2025 /PRNewswire/ — Tempe space startup Solestial, Inc. (“Solestial”), will be featured in a Google Workspace commercial scheduled to air Sunday February 9, on Fox networks in the Arizona market during America’s most-watched football game. The ad, which features Solestial CEO Stan Herasimenka and other employees, showcases the cutting-edge solar technology for space being developed by Solestial and how the company is using Google’s AI tool, Gemini.

The company was handpicked by Google to represent Arizona as part of its “50 States, 50 Stories” campaign, which features 50 small businesses from across the United States. Google’s goal for the 30-second ad was to select a wide array of businesses from different locations and industries and highlight the many ways customers, like Solestial, are using AI.

“We were honored to be selected from among many innovative Arizona technology companies for Google’s campaign. It’s every business’s dream to be featured in a commercial during football’s premier event,” said Solestial CEO, Stan Herasimenka. “We are hopeful that the media attention will increase awareness of our next-generation silicon solar technology within the space industry, federal agencies, and the military. Beyond that, our team is really looking forward to seeing the commercial air on game day. It’s a company milestone none of us will ever forget.”

Solestial’s Google Workspace commercial, and all “50 states, 50 stories” commercials, are available on the Google Workspace website and on YouTube.

About Solestial

Solestial exists to deliver abundant energy in space. The company’s breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in lower production costs than traditional III-V multijunction solar products.

From today’s satellite constellations and research projects to tomorrow’s lunar settlements and services in space, Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in Tempe, Arizona. Investors include space industry leaders including AE Ventures and Airbus Ventures. To learn more, visit the Solestial website or follow Solestial on social media.

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SOURCE Solestial, Inc.

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Lumen Technologies to Attend Investor Conferences

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DENVER, Feb. 6, 2025 /PRNewswire/ — Chris Stansbury, executive vice president and chief financial officer at Lumen Technologies (NYSE: LUMN), will attend the following investor conferences:

JP Morgan Global High Yield & Leveraged Finance Conference on February 25.Raymond James Annual Institutional Investors Conference on March 3.Morgan Stanley Technology, Media & Telecom Conference on March 4.Deutsche Bank Annual Media, Internet & Telecom Conference on March 11.New Street BCG Connectivity Conference on March 26.

Live webcast links to each of the investor presentations will be made available on the Lumen Investor Relations website at https://ir.lumen.com/events-and-presentations.

About Lumen Technologies 
Lumen is unleashing the world’s digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI’s full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital platform capabilities, we meet our customers’ needs today and as they build for tomorrow.  

For additional news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies.  

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SOURCE Lumen Technologies

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ASAP Utilities wins ‘Best Microsoft Excel Add-in’ Award at the Global Excel Summit 2025

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LONDON, Feb. 6, 2025 /PRNewswire/ — ASAP Utilities has won the ‘Best Microsoft Excel Add-in’ award at the Global Excel Summit 2025. The winners were chosen through a comprehensive process that included public nominations, expert evaluations by a panel of leading Excel experts, and final voting by the global Excel community.

The Global Excel Summit, the world’s largest event for Excel users and experts, brings together thousands from around the world to share ideas, improve skills, and learn about the latest trends in Excel.

The Global Excel Awards, organized by the Global Excel Summit, celebrate excellence within the Excel community across five categories. ASAP Utilities won in the ‘Best Microsoft Excel Add-in’ category for its many tools that extend Excel’s capabilities, enhancing productivity and efficiency. Other awards categories include Rising Star in the Excel Industry, Most Innovative Use of Excel, Best LAMBDA, and Best Global Excel Summit 2025 In-Person Session.

“Winning this award is a tremendous honor and a significant compliment from the Excel community. Since 1999, we have been committed to helping Excel users by continuously developing tools that save time and perform tasks that Excel alone cannot,” said Bastien Mensink, the founder of ASAP Utilities.

Helping Excel users worldwide

Nearly a million users rely on ASAP Utilities, an essential tool for Excel users worldwide. It is also one of the few Excel add-ins available in ten languages, making it accessible to users everywhere.

ASAP Utilities is available in two editions, so everyone can benefit from working faster and accomplishing more in Excel. The Home & Student Edition is free for personal use, for students, and for charitable organizations like UNICEF and the Red Cross. The Business Edition is a one-time purchase for companies and government organizations, with a fully functional 90-day free trial to try all the features.

For more information about the Global Excel Awards, visit:  https://globalexcelsummit.com/global-excel-awards

For more information about ASAP Utilities, visit:  https://www.asap-utilities.com

Website:  https://www.asap-utilities.com

Photos which are free to use for editorial purposes can be downloaded via:  https://www.asap-utilities.com/media

Trustpilot reviews:  https://www.trustpilot.com/review/www.asap-utilities.com

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