Summary

The multivendor ATM software market is expected to grow at a significant CAGR of around 20% during the forecast period.
A strong self-service network can generate new opportunities for financial institutions with new ways to optimize costs. Strategically installed ATMs are providing ample services than just cash withdrawals, help banks in driving better remote services, enhance banks’ visibility, and help in brand building. The major benefits banks have by having a great network of ATMs fleet at its disposal is with ATMs, it is possible for a bank to decrease the number of branches in its network without compromising a physical presence anywhere. Additionally, ATMs make it more cost-efficient for banks to scale their operations into new territories providing services for existing customers in local communities and influencing a wider group of people in the process. Moreover, with the availability of advanced technologies ATMs are getting integrated with web services to support utility bills, tax payments, bank loans, etc by securing secure contact with bank personnel via remote teller assistance which in turn is creating a tangible bank presence at street level via ATMs, increasing overall brand visibility and awareness, enabling banks to provide services to their customers even after hours, provides banks with a powerful marketing tool and helps them in acquiring new customers, and in order to run this vast network of ATM fleet that features multiple models and manufacturers in a most cost-effective and seamless way banks need to equip their ATMs with multivendor ATM software, enabling banks to provide a wide range of services to their customers. For instance, on August 2022, Česká spořitelna bank announced that their ATM network will be able to support transactions via QR code providing customers with cardless cash withdrawal The self-service solution works by integrating KAL’s ATM software with Česká spořitelna’s mobile banking application. Each ATM in the network displays a ‘home’ screen having a unique QR code that recognizes the ATM and the local time. After logging into the ‘George’ app and entering a withdrawal request, the customer approaches an ATM within 15 minutes, scans the QR code, and receives their cash without inserting their ATM card or entering their PIN number.

Some of the major players operating in the market include CMS; KAL ATM Software GmbH; Auriga Spa; Hyosung Global; NCR Corporation; Hexaon Business Mitrasindo; Diebold Nixdorf; ZOOM CyberSense; Clydestone Group; and Printec Group.

Insights Presented in the Report
“Amongst component type, the software segment held a significant share of the market”
Based on component type, the market is bifurcated into software and services. Out of the two, the software segment holds a significant market share. The market is mainly driven due to the benefits of moving to a single standardized ATM software environment like multivendor ATM software as they are easier to maintain and scale as have lower costs of development, testing, and deployment. Additionally, they enable the ATM networks to extend their functionality quickly at a lower cost and also reduce the dependence of the banks on hardware suppliers. Moreover, it helps in delivering consistent customer experience by easily integrating ATMs with other banking channels and systems also helping banks with the better promotion of their new products or services.

“Amongst end users, the independent ATM deployer holds the significant market share in the year 2021
Based on end users, the market is bifurcated into Banking & Financial Institutions and Independent ATM deployers. Among the two, independent ATM deployers (brown-label ATMs and white-label ATMs) held a significant market share in the year 2021. The market is mainly driven by the fact that with the increasing banking automation banks started following the operating expenditure model for the expansion of their ATM networks rather than following bank-owned ATMs under the capital expenditure model, it benefitted the banking sector as under the OPEX model the installation and maintenance of ATMs are outsourced to the third party independent service providers which led to faster deployment of ATMs in a shorter span of time. Additionally, outsourcing helped expands bank reach, lowers transaction costs incurred by the banks, increase brand penetration, and improve the bank’s performance and customer satisfaction.

“Asia Pacific dominated the multivendor ATM software market in 2021.”
The multivendor ATM software market in the Asia Pacific region held the largest market share and is expected to maintain its growth throughout the forecast period. The market is mainly driven by the fact that the Asia Pacific region mostly consists of emerging economies which are some of the fastest growing economies in the world in the current times and cash circulation normally spikes during periods of elevated economic activity, with people needing more money for transactions which directly increases the ATM deployments. Furthermore, usage of ATMs for non-financial transactions such as balance inquiries, chequebook requests, payment of taxes, funds transfers, etc has increased indicating that day-to-day usage extends beyond cash withdrawals. For instance, as per the SBIs brown label ATM service provider, cash transactions account for around 60% of the overall transaction volume and the remaining 40% is used for non-cash transactions. Additionally, ATM deployment commits to greater financial inclusion by expanding the reach of banking services, especially in semi-urban and rural areas which account for almost 60% of emerging economies and with cash still being one of the most preferred modes of transaction particularly in rural regions the growth is expected to continue for longer period of time. For instance, in December 2021, as per CMS info system, in 2020 Cash on Delivery (COD) contributed more than 65% of all e-commerce payments, pointing out the significance of cash for payments. Also, the share of COD (cash on delivery) payments is more significant as we move from metros (~50% COD) to lower tiers such as tier 2 (~70% COD) and tier 4 regions (~90% COD), and with increasing e-commerce penetration in these lower tiers, the share of COD payments are also poise to increase correspondingly, it is due to fact that consumers prefer cash due to behavioral reasons which are unlikely to change even with developing digital payment infrastructure.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
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