The global ATM slide rails market was valued at more than 2 million units in 2015 and is expected to surpass 6 million units by 2020, says Technavio.
Technavio has announced the release of its latest market research report on ATM slide rails to its embedded systems portfolio. This market analysis discusses the primary drivers and key emerging trends that will influence the growth of the global ATM slide rails market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Sun Chain Metal, TAKACHIHO KOHEKI (TK), and THK.
In terms of geographical analysis, APAC will be the largest revenue contributing region in the global market, surpassing 4 million units by 2020. China, India, and Indonesia will emerge as the key revenue-generators.
“ATMs are being integrated with the software facilities to provide a number of features other than cash dispensing. This includes one video teller technology for remote assistance to customers, bill and check payments, credit transfer, and cash recycling. The availability of such devices is propelling the demand for ATMs that can deliver more than just normal cash dispensing facility to a retail customer. For instance, Access Bank, a full-service commercial bank in Africa, enhanced its ATM portfolio in 2016 with NCR’s latest SelfServ multifunction cash deposit and dual dispenser ATMs to enhance customers’ experience by improving the speed of service, handle high transaction volumes, and reducing the downtime,” says Navin Rajendra, a lead analyst at Technavio for embedded systems.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
ATM demand for anytime and anywhere banking
The rising demand for ATMs as an alternative to banks is the fundamental driving force behind the demand for ATM slide rails. The need to address the growing banking-related services and queries are growing in tandem with the banking industry and ATMs provide an alternative for such branches. They function as an alternative to avail banking facilities and services beyond the normal working hours of a bank. The global ATM market is expected to grow with the rising demand from retail customers to avail banking services at a convenient time and location.
Growing demand for cash recycling as an efficient way of cash management
The demand for automatic cash recycling at ATMs, automated teller safes, and self-service cash recycling machines is on the rise. Cash recycling at an ATM using modern ATM machines with cash recycler can help financial Institutions optimize their operations at a lower cost by eliminating the cost of manpower for managing the cash balance with teller and vault, and can increase the efficiency roughly 90% times compared to traditional systems. This, in turn, increases the profitability of banks with lower expenses. NCR SelfServ 34 recycling technology, for instance, helped ING bank to build 550 proxy branches that allowed the bank to free staff and focus on sales and advisory service.
Increase in demand for Bitcoin payment system
Bitcoin is a decentralized payment system for the peer-to-peer transaction and omits the requirement for an intermediary. It has several advantages including user anonymity, no third party interruptions, and a greater degree of freedom. Since there are no intermediaries, Bitcoin transactions do not require sales tax. Unlike standard wired transactions, Bitcoin transactions have very less cost of foreign transactions. As a result, the demand for Bitcoin in the market is on an upsurge. To further allow end-user the freedom to adopt Bitcoin, there is an increase in the provisioning of Bitcoin ATMs. In July 2016, there were 755 Bitcoin ATMs globally and is expected to increase further during the forecast period.
Some of the other prominent vendors identified in this report are Accuride, Chambrelan, Genmega, and Rollon.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global ATM Slide Rail Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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