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Automated Teller Machine (ATM) Market size is set to grow by USD 5.91 billion from 2024-2028, Multifunctionality features in ATMs boost the market, Technavio

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NEW YORK, July 19, 2024 /PRNewswire/ — The global automated teller machine (ATM) market size is estimated to grow by USD 5.91 billion from 2024-2028, 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 Inc., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., 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.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Automated Teller Machine (ATM) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.6%

Market growth 2024-2028

USD 5910 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.18

Regional analysis

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

Performing market contribution

APAC at 58%

Key countries

US, China, Germany, India, and UK

Key companies profiled

Atlas Ontario LP., Cashway Fintech Co. Ltd., Diebold Nixdorf Inc., Eastcompeace Technology Co. Ltd., Euronet 360 Finance Ltd., Fujitsu Ltd., Genmega Inc., GRGBanking, HANTLE Inc., Hitachi Ltd., 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 demand for automatic cash recycling in ATMs, automated teller safes, and self-service cash recycling machines is increasing among financial institutions. Banks aim to achieve revenue growth, improved customer service, and cost optimization. In traditional banking structures, tellers manage cash levels, leading to high labor costs and opportunity costs. Cash recycling systems, like placing a vault between two tellers but with advanced cash management, help optimize operations at a lower cost. This system eliminates the need for tellers and vaults, increasing efficiency by nearly 90% and profitability due to reduced expenses. Since the COVID-19 pandemic, cash recycling has become crucial for streamlining processes, fraud avoidance, and reducing staff burden. The benefits of cash recycling, such as minimizing touchpoints for cash, will significantly drive the growth of the global ATM market during the forecast period. 

The Automated Teller Machine (ATM) market is thriving in both developed and emerging countries, with trends including cash withdrawal, fund transfer, and deposit services. Technology advancements like biometric authentication and smart ATMs are transforming the banking sector. Manufacturing operations focus on digital platforms, contactless kiosks, and interactive machines. Security mechanisms and fraud prevention are crucial. In developed countries, NCR Corporation and Diebold Nixdorf dominate, offering managed services, deployment solutions, and upgrading services. In contrast, emerging markets prioritize geographical expansion and product portfolio expansion. Members ATMs for credit unions, ecommerce integrations, and mobile banking are gaining popularity. Hitachi Terminal’s cash recycling machines and Hitachi’s frictionless vein pattern recognition technology are innovations. Despite these advancements, lack of awareness and digital payment adoption remain challenges. System reconstruction, repair & maintenance, and contracts are ongoing needs. 

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Market Challenges

ATMs are a valuable tool for banks to automate cash transactions and reduce the number of customers visiting branches. However, the adoption of ATMs is influenced by various costs, including the initial investment for the machine, monthly rentals for branch space, electricity bills, and security expenses. In some countries, banks offer free transactions to customers, or there are no fees for using ATMs, which further impacts the revenue generated from these machines. Additionally, the cost of maintaining anti-skimming devices to enhance security adds to the operational expenses. These factors may hinder the growth of the global ATM market during the forecast period.The ATM market is experiencing significant changes with the rise of contactless kiosks, ecommerce, and mobile banking. However, challenges persist, including lack of awareness for digital payments and interactive machines. Managed services and deployment solutions are crucial for onsite, offsite, worksite, and mobile ATMs. NCR Corporation and Diebold Nixdorf lead the market, offering system reconstruction, repair & maintenance, upgrading services, and product portfolio expansion. Geographical expansion is key, with contracts signed with credit unions, retailers like Walgreens, and Hitachi’s frictionless cash recycling machines. The unbanked population and cash-based transactions remain opportunities, with EMV migration ongoing. Manufacturing capacity expansion and advanced technologies like vein patterns and near-infrared light are shaping the future. The World Bank supports these developments, focusing on cashless transactions and financial inclusion.

For more insights on driver and challenges – Request a sample report!

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 Automated Teller Machine (ATM) market is growing steadily due to increasing consumer preference for convenient and quick cash withdrawals and deposits. Banks and financial institutions are investing in advanced ATMs with features like contactless payments and biometric authentication to enhance customer experience. The market is driven by factors such as rising urbanization, increasing financial inclusion, and technological advancements. Global sales of ATMs are projected to reach USD14 billion by 2025.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global cash logistics market is witnessing steady growth driven by increasing cash transactions and stringent security regulations. Key players are investing in advanced technologies like GPS tracking and biometric authentication to enhance security and operational efficiency. The global ATM slide rails market is expanding with rising ATM installations worldwide. Innovations in slide rail designs focus on durability, ease of maintenance, and enhanced user experience, catering to the growing demand for secure and reliable ATM transactions.

Research Analysis

Automated Tellers Machines (ATMs) have revolutionized the banking sector, enabling cash withdrawal, fund transfer, and deposit services around the clock. Technology advancements have led to innovations like biometric authentication, transforming ATMs into Smart ATMs. Developed and emerging countries alike have embraced ATMs for digital banking, with manufacturing operations and onsite, offsite, worksite, mobile ATMs catering to diverse needs. Security mechanisms ensure safe transactions, while repair & maintenance and upgrading services keep machines functional. NCR Corporation and Diebold Nixdorf are major players, but numerous other companies contribute to the market’s growth. System reconstruction, contracts, portfolio expansion, and geographical expansion are key strategies. Members ATMs for credit unions and cooperative banks further extend the reach of these financial institutions.

Market Research Overview

Automated Teller Machines (ATMs) are digital banking solutions that enable cash withdrawal, fund transfer, and deposit services around the clock. Technology advancements have led to the development of Smart ATMs with biometric authentication, contactless kiosks, and cash recycling machines. The banking sector in developed and emerging countries is increasingly adopting ATMs to expand digital platforms and reach rural areas. Security mechanisms and fraud prevention are key considerations in manufacturing operations. Technological innovations include interactive machines, managed services, and deployment solutions. Onsite, offsite, worksite, and mobile ATMs cater to diverse business needs. Ecommerce, mobile banking, and digital payment integration are driving growth. However, lack of awareness and digital payment infrastructure in some regions pose challenges. Key trends include system reconstruction, repair & maintenance, upgrading services, product portfolio expansion, and contracts. Geographical expansion, membership ATMs for credit unions, and partnerships with retailers like Walgreens and Hitachi Terminal are strategic moves. Cash recycling machines, manufacturing capacity expansion, and frictionless technology like vein patterns and near-infrared light are shaping the future of ATMs. The World Bank supports EMV migration to secure cash-based transactions and serve the unbanked population.

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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SOURCE Technavio

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Walmart Has 23.6% of U.S. Grocery Sales – But Costco Owns the AI Answer – 5W Grocery Retail AI Visibility Index 2026

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Walmart Owns 21% of U.S. Grocery — But Costco Owns the AI Answer 

NEW YORK, May 7, 2026 /PRNewswire/ — 5WPR, the premier AI communications firm in the United States, today released the U.S. Grocery Retail AI Visibility Index 2026 — the 11th installment in 5W’s AI Visibility Index research series, and the first to rank American grocery retailers by how frequently they are cited inside AI-generated answers.

The headline finding rewrites the category league table.

Walmart, with approximately 21 percent of U.S. grocery market share — the largest in the country — ranks fourth in AI citation share. The retailer cited most often when American shoppers ask ChatGPT, Claude, Perplexity, or Google AI Overviews where to buy their groceries is Costco. Trader Joe’s ranks second. Whole Foods ranks third. Aldi, H-E-B, and Wegmans are all punching far above what their physical footprint would predict.

“Market share is a lagging indicator. AI citation share is a leading indicator,” said Ronn Torossian, Founder and Chairman of 5W. “The grocers who close that gap in 2026 will define the category in 2030. Most grocery CMOs we talk to are running 2019 playbooks against 2026 consumer behavior.”

5W researchers ran more than 80 consumer-intent queries across 12 sub-categories — best overall grocery store, cheapest, highest-quality produce, best private label, best organic, best meal planning, best bulk, best delivery, best customer service, best regional, and others — across the four leading consumer AI platforms. Each retailer was scored on citation frequency, position within the answer, sentiment, and sub-category dominance.

The top 10: Costco, Trader Joe’s, Whole Foods, Walmart, Kroger, Aldi, H-E-B, Publix, Wegmans, and Target.

Key structural findings:

Market share no longer predicts AI citation share. Walmart’s roughly 21 percent share translates to an estimated 8 to 10 percent AI citation share across premium query categories. The decoupling is the single largest such gap in American retail.Private label is the highest-leverage citation asset a grocer owns. Kirkland, Trader Joe’s, 365, Good & Gather, and Great Value are cited directly by name in AI answers at rates that exceed most national CPG brands.Regional loyalty translates directly into regional AI dominance. Regional chains outperform national chains in their home markets by 3x or more.Reddit and TikTok are under-priced citation surfaces. Perplexity pulls a majority of its answers from community sources. ChatGPT and Claude weight Reddit heavily.

The report also identifies six 2026 dynamics reshaping the category, including the new GLP-1 grocery basket, Aldi’s expansion as a citation-compounding program, and Walmart’s CEO transition from Doug McMillon to John Furner — effective February 1, 2026 — as a brand-narrative inflection point.

The full Index, including ranks 11 through 25 and sub-category breakdowns, is available as a free download at 5wpr.com/research.

About 5W

5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research, helping clients measure and grow their presence in AI-driven buyer research. 

Founded more than 20 years ago, 5W has been recognized as a top U.S. PR agency by O’Dwyer’s, named Agency of the Year in the American Business Awards®, and honored as a Top Place to Work in Communications in 2026 by Ragan. 5W serves clients across B2C sectors including Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, and Nonprofit; B2B specialties including Corporate Communications and Reputation Management; as well as Public Affairs, Crisis Communications, and Digital Marketing, including Social Media, Influencer, Paid Media, GEO, and SEO. 5W was also named to the Digiday WorkLife Employer of the Year list.

For more information, visit www.5wpr.com.

Media Contact
Chris Bergin
cbergin@5wpr.com

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SOURCE 5W Public Relations

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ICAT Logistics Appoints Youssef Annali as Chief Financial Officer

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Transportation and logistics finance leader joins as ICAT accelerates its next phase of growth

DALLAS, May 7, 2026 /PRNewswire/ — ICAT Logistics announces the appointment of Youssef Annali as Chief Financial Officer. Annali brings more than two decades of senior finance leadership across global logistics and supply chain businesses, and joins as the company scales its platform, team, and operational capabilities globally. 

Annali joins ICAT from OIA Global, a $1.4 billion revenue supply chain management leader, where he served as CFO for four years overseeing Finance, Corporate Development, Strategy, Legal, Compliance, and Real Estate. Prior to OIA, he spent eleven years at CEVA Logistics—one of the world’s largest freight and logistics providers—rising to CFO & EVP Finance for North America, where he held financial accountability for a business generating over $4.5 billion in annual revenue and more than 14,000 employees. Earlier in his career, he served in senior finance roles at Abbott, KPMG, and PricewaterhouseCoopers.

Annali has a consistent track record of building finance functions that support strategic growth and has deep experience across financial planning, M&A, treasury, and corporate restructuring. He holds a Post-Master’s in Finance and Control from the University of Amsterdam and a Master’s in Business Administration from the University of Groningen.

“Youssef has led high-performing finance teams at the highest levels of global logistics. He brings the operational depth and strategic mindset our platform demands as we enter the next phase of growth,” said Brad Stogner, CEO of ICAT Logistics.

“ICAT has built something genuinely differentiated—a specialized platform operating in verticals where precision and domain expertise are non-negotiable. The foundation is strong, and the opportunity ahead is significant. I look forward to working with the team to accelerate that momentum,” said Youssef Annali, Chief Financial Officer of ICAT Logistics.

About ICAT

ICAT is the world’s leading specialized logistics company, delivering customized solutions and deep vertical expertise to industries where failure is not an option. With 65 offices and operating capabilities in 190 countries, ICAT serves customers across Live Events, Luxury, Technology, Defense & Aerospace, Life Sciences, and Financial Institutions—sectors defined by uncompromising performance standards. ICAT’s proprietary, AI-powered technology platform provides end-to-end visibility and predictive intelligence, enabling precise execution for the most demanding operations.

ICAT is backed by New Atlas Capital following its acquisition of the Company in 2024.

Contact Information

ICAT Logistics, Inc.
8840 Cypress Waters Blvd, Ste 325,
Coppell, TX, 75019
marketing@icatlogistics.com

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SOURCE ICAT Logistics, Inc.

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HelloNation Article Highlights Poughkeepsie’s Focus on Youth Investment, Neighborhood Parks and Sustainable Reuse

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The article examines how redevelopment projects and youth programs are reshaping community life across Poughkeepsie.

POUGHKEEPSIE, N.Y., May 7, 2026 /PRNewswire/ — What does long term community growth look like when a city invests in both people and public spaces? HelloNation has published a HelloNation article that provides the answer through a detailed look at how Poughkeepsie is combining youth investment, neighborhood improvements and adaptive reuse projects to support residents and strengthen the city’s future.

The article explains that Poughkeepsie is undergoing a period of reinvention centered on infrastructure upgrades, youth programming and redevelopment along the city’s Northside. According to the article, local and county leaders are working to create spaces where residents can learn, gather and build stronger community connections. The article notes that these efforts are intended to improve quality of life while helping the city grow in a more sustainable and inclusive way.

A major focus of the article is the planned Youth Opportunity Union, also known as the YOU, a large multipurpose youth facility backed by Dutchess County. The HelloNation article describes the project as a 19,000 square foot center that will include childcare services, wellness support, tutoring areas, teaching kitchens and both indoor and outdoor recreation spaces. The article explains that the project reflects a larger regional effort to increase opportunities for children and teenagers in underserved communities.

The article also highlights additional youth centered investments connected to sports, education and recreation. According to the article, Dutchess County has awarded grants to local organizations serving young people between the ages of 6 and 17. The article further explains that Poughkeepsie’s City Parks program has introduced mini grants designed to support renovations and activities in neighborhood parks, including Pershing Avenue and Malcolm X parks.

Beyond youth programs, the article details how the city is working to improve transportation and neighborhood infrastructure. The HelloNation article explains that Poughkeepsie launched its first five year paving plan in 2025, beginning with major roadway improvements on Main Street and other corridors. The article states that these upgrades are intended to improve safety, durability and daily conditions for residents while supporting broader redevelopment goals throughout the city.

Another important part of the article focuses on adaptive reuse and environmental redevelopment on the Northside. The article describes how Scenic Hudson plans to transform the former Standard Gage Factory into the Northside Hub, a redevelopment project designed to serve as both a nonprofit headquarters and a community gathering space. According to the article, the project will feature solar powered operations, office space, public parkland and community facilities near the Walkway Over the Hudson and Dutchess Rail Trail.

The article also explains that Poughkeepsie’s selection as the Mid Hudson winner in New York’s Downtown Revitalization Initiative adds additional momentum to current redevelopment efforts. The HelloNation article notes that the funding will support new downtown projects that build on existing investments in youth programs, infrastructure and adaptive reuse. Together, these efforts are presented as part of a broader strategy to create long term stability and opportunity for local residents.

The article concludes that Poughkeepsie’s emerging identity is closely tied to projects that strengthen neighborhoods while supporting future generations. Poughkeepsie Puts Youth, Neighborhood Parks and Sustainable Reuse at the Center of Renewal features insights from HelloNation Staff Writer, community development coverage of Poughkeepsie, New York, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused digital publications and innovative “edvertising” approach, HelloNation delivers expert-driven, good-news content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities. HelloNation maintains partnerships with the U.S. Conference of Mayors, and the United States First Responders Association.

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SOURCE HelloNation

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