Download Sample
Add to CartGlobal Next-Gen ATM Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Product Type;
Conventional/Bank ATM, Solar Powered ATM, Self-Cashed or Fully Serviced ATM, Smart ATM, Cash Dispenser ATM, Free Standing ATM, Through-the-Wall ATM, Brown Label ATM, White Label ATM, and Others.By Solution;
Deployment - Onsite, Offsite, Worksite and Mobile, and Managed Services.By Technology;
Contactless, Voice Recognition, Biometrics, Video Banking, AI (Artificial intelligence), and IoT (Internet of Things) Integration.By Application;
Bank Service Agent, Bank, Retail, and Enterprises.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Next-Gen ATM Market (USD Million), 2021 - 2031
In the year 2024, the Global Next-Gen ATM Market was valued at USD 18642.62 million. The size of this market is expected to increase to USD 28031.61 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.0%.
The Global Next-Gen ATM Market is undergoing a transformative shift, driven by rapid technological advancements and the evolving expectations of customers. These advanced ATMs are designed to offer a seamless, secure, and user-friendly banking experience, integrating features such as biometric authentication, contactless transactions, and artificial intelligence-based solutions. As the financial sector embraces digitization, next-gen ATMs are emerging as critical tools to bridge the gap between traditional banking services and the convenience of modern, tech-driven solutions.
One of the key drivers of the next-gen ATM market is the growing demand for enhanced security and personalized banking experiences. Financial institutions are increasingly adopting ATMs with advanced features like facial recognition, fingerprint scanning, and anti-skimming technologies to safeguard transactions. Moreover, these machines are equipped with sophisticated software that enables dynamic transaction customization, ensuring that customers can access tailored services in real-time. Such features not only improve customer satisfaction but also help banks strengthen their relationships with clients.
The expansion of the next-gen ATM market is also fueled by the rising trend of cashless transactions and the integration of digital payment systems. These ATMs are designed to support various payment methods, including QR codes, NFC (Near Field Communication), and mobile wallet integration. Additionally, they serve as multi-functional hubs capable of performing non-cash services such as account inquiries, loan applications, and financial product recommendations. This versatility makes next-gen ATMs an essential part of the broader financial ecosystem, catering to the diverse needs of urban and rural populations alike.
Despite the promising growth prospects, the next-gen ATM market faces challenges such as high installation costs, maintenance complexities, and the need for robust cybersecurity measures. However, advancements in cloud computing, edge technologies, and 5G connectivity are expected to mitigate these issues, enabling more efficient deployment and operation. As financial institutions and technology providers collaborate to overcome these challenges, the global next-gen ATM market is poised to play a pivotal role in shaping the future of banking.
Global Next-Gen ATM Market Recent Developments
-
In October 2020, NCR Corporation introduced its next-generation ATM platform, Activate Enterprise NextGen, designed to integrate ATMs into the digital age. This upgrade features a more user-friendly interface, including a freestanding tablet design and enhanced digital capabilities. The new system offers contactless card support, catering to evolving customer needs, especially during the COVID-19 pandemic. It also allows banks to market directly to customers and customize the user experience with HTML and CSS features
-
In 2021, the global number of ATMs began to shrink, particularly in developed regions, as the rise of digital banking and fintech solutions reduced demand for cash. The U.S. saw a drop from 470,000 ATMs in 2019 to 456,000 in 2021. However, ATMs remain crucial in underserved regions, where cash is still the preferred payment method. In these areas, ATMs continue to serve as essential access points to banking services
Segment Analysis
The global next-gen ATM market is segmented based on product type, solution, technology, application, and geography, offering diverse opportunities for growth. By product type, the market includes conventional or bank ATMs, solar-powered ATMs, self-cashed or fully serviced ATMs, smart ATMs, cash dispenser ATMs, free-standing ATMs, through-the-wall ATMs, brown label ATMs, white label ATMs, and others. Among these, smart ATMs are gaining traction due to their advanced features like enhanced user interfaces and multi-functional capabilities, while solar-powered ATMs are witnessing increased adoption in regions with limited access to conventional energy sources.
By solution, the market is categorized into deployment and managed services. Deployment solutions are further classified into onsite, offsite, worksite, and mobile ATMs. Offsite ATMs are highly popular as they provide financial services at locations beyond bank premises, enhancing accessibility. Managed services, on the other hand, are becoming critical for ensuring smooth ATM operations, encompassing maintenance, cash replenishment, and software updates, thereby reducing the operational burden on banks.
The technology segment encompasses contactless systems, voice recognition, biometrics, video banking, artificial intelligence, and IoT integration. Biometrics and AI are revolutionizing ATM functionalities, improving security and providing personalized customer experiences. Contactless technology, driven by consumer demand for convenience, has seen significant growth, particularly after the COVID-19 pandemic. IoT integration is also enabling real-time monitoring and predictive maintenance, which enhances operational efficiency and reduces downtime.
Geographically, the market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America and Europe lead the market due to advanced banking infrastructure and high adoption of next-gen technologies. Asia Pacific is emerging as a lucrative region due to rapid urbanization, increasing financial inclusion efforts, and the growing middle-class population. The Middle East and Africa, along with Latin America, are also witnessing growth, driven by expanding banking networks and government initiatives to improve access to financial services in remote areas.
Global Next-Gen ATM Segment Analysis
In this report, the Global Next-Gen ATM Market has been segmented by Product Type, Solution, Technology, Application and Geography.
Global Next-Gen ATM Market, Segmentation by Product Type
The Global Next-Gen ATM Market has been segmented by Product Type into Conventional/Bank ATM, Solar Powered ATM, Self-Cashed or Fully Serviced ATM, Smart ATM, Cash Dispenser ATM, Free Standing ATM, Through-the-Wall ATM, Brown Label ATM, White Label ATM and Others.
The Global Next-Gen ATM Market is segmented based on product type to cater to diverse consumer and business needs, enhancing accessibility and convenience. Conventional/Bank ATMs remain the cornerstone of financial transactions, offering essential banking services such as cash withdrawals, balance inquiries, and fund transfers. Solar-powered ATMs, on the other hand, are gaining popularity in regions with unreliable electricity supply, providing a sustainable and energy-efficient solution to financial inclusion in remote and underserved areas. These innovative machines ensure banking services are accessible even in power-deficient environments.
Self-cashed or fully serviced ATMs and smart ATMs represent the next level of technological evolution in the market. Self-cashed ATMs enable customers to deposit cash without bank personnel assistance, while smart ATMs integrate advanced features like biometric authentication, contactless payments, and mobile banking applications. These smart ATMs cater to tech-savvy customers and enhance security and efficiency. Additionally, cash dispenser ATMs focus solely on cash withdrawals, serving customers who require quick and specific financial services without additional functionalities.
Other segments, including free-standing ATMs, through-the-wall ATMs, brown-label ATMs, and white-label ATMs, address varied deployment strategies and ownership models. Free-standing ATMs are versatile and often found in high-traffic areas like shopping malls, while through-the-wall ATMs are embedded within bank premises for added security. Brown-label ATMs, operated by third parties but branded by banks, and white-label ATMs, which are entirely independent of banks, expand market accessibility by bridging gaps in traditional banking infrastructure. This segmentation reflects the market's dynamic response to evolving customer demands and operational efficiencies.
Global Next-Gen ATM Market, Segmentation by Solution
The Global Next-Gen ATM Market has been segmented by Solution into Deployment and Managed Services.
The global Next-Gen ATM market has been segmented into Deployment and Managed Services based on the solutions offered. Deployment solutions cater to the installation and setup of next-gen ATMs, ensuring seamless integration into banking and retail environments. This segment focuses on advanced hardware and software installations, enhancing the capabilities of ATMs to deliver contactless transactions, biometric authentication, and real-time processing. Financial institutions opting for deployment solutions can customize the ATM setup to align with their brand identity and operational needs.
On the other hand, Managed Services emphasize post-deployment operational efficiency. This segment includes maintenance, monitoring, and support services to ensure uninterrupted ATM functionality. Managed services providers focus on optimizing the ATM network’s performance through regular updates, troubleshooting, and analytics. These services also help in managing cash replenishment schedules, compliance with security protocols, and minimizing operational downtime. Banks and financial institutions prefer managed services for cost-effective and hassle-free operations, allowing them to focus on core banking activities.
The segmentation highlights a dual approach to meeting diverse client needs in the Next-Gen ATM market. Deployment solutions appeal to institutions seeking ownership and direct control over their ATM infrastructure. In contrast, managed services attract organizations prioritizing operational ease and scalability. Together, these segments reflect the evolving demands of the financial industry, ensuring enhanced customer experiences while adapting to technological advancements and regulatory changes.
Global Next-Gen ATM Market, Segmentation by Technology
The Global Next-Gen ATM Market has been segmented by Technology into Contactless, Voice Recognition, Biometrics, Video Banking, AI (Artificial intelligence), and IoT (Internet of Things) Integration.
The Global Next-Gen ATM Market is segmented by technology into various advanced categories, each addressing evolving consumer needs and enhancing banking experiences. Contactless technology has gained traction due to its convenience and security, enabling users to interact with ATMs through NFC-enabled cards or mobile devices, reducing physical contact. This technology aligns with the growing consumer demand for hygienic and seamless transactions, especially in the post-pandemic era.
Voice recognition and biometrics are revolutionizing ATM security and personalization. Voice recognition enables users to interact with machines via spoken commands, offering accessibility for individuals with disabilities. Meanwhile, biometric integration, such as fingerprint and facial recognition, enhances security by ensuring only authorized users access their accounts. These technologies are designed to combat fraud and streamline user verification, creating a more secure and efficient banking environment.
The integration of video banking, AI, and IoT is redefining the capabilities of ATMs beyond cash dispensing. Video banking allows customers to communicate with bank representatives for personalized assistance, bridging the gap between physical and digital banking. AI-powered ATMs can analyze customer data to provide tailored services and detect fraudulent activities in real time. IoT integration connects ATMs to broader networks, enabling predictive maintenance, real-time monitoring, and enhanced operational efficiency. These advancements position next-gen ATMs as pivotal in delivering smarter, faster, and more interactive banking solutions.
Global Next-Gen ATM Market, Segmentation by Application
The Global Next-Gen ATM Market has been segmented by Application into Bank Service Agent, Bank, Retail, and Enterprises.
The Global Next-Gen ATM Market is categorized into several key application segments, each reflecting distinct end-user needs and operational scenarios. Bank Service Agents represent a significant segment, focusing on enhancing financial inclusion in underserved and rural areas. These agents use next-gen ATMs as a cost-effective solution to deliver essential banking services, such as cash withdrawals, deposits, and account management. The integration of biometric authentication and advanced security features ensures a secure and efficient experience for users, making these ATMs critical in extending the reach of banking services.
Banks form the largest application segment, leveraging next-gen ATMs to enhance customer experience and operational efficiency. These ATMs go beyond traditional functions, offering a wide range of self-service features such as cardless cash withdrawals, loan applications, and personalized financial advice. Advanced technologies like artificial intelligence (AI) and blockchain are increasingly integrated to ensure high security and a seamless user experience. For banks, next-gen ATMs also help reduce operational costs by automating routine transactions and enabling 24/7 service availability.
Other notable application areas include Retail and Enterprises, where next-gen ATMs are transforming the way cash and financial services are handled. In retail, these ATMs serve as cash management hubs, providing facilities for cash recycling, digital payments, and loyalty program integration. For enterprises, next-gen ATMs simplify payroll disbursements, bill payments, and other financial processes, ensuring convenience and cost savings. These versatile applications highlight the potential of next-gen ATMs to meet diverse operational requirements while fostering financial digitization across sectors.
Global Next-Gen ATM Market, Segmentation by Geography
In this report, the Global Next-Gen ATM Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Next-Gen ATM Market Share (%), by Geographical Region, 2024
The North American region dominates the global Next-Gen ATM market, driven by its advanced financial infrastructure and high adoption of digital banking services. The United States leads the charge, with banks and financial institutions continuously upgrading their ATM networks to include advanced features like biometric authentication, contactless transactions, and enhanced security protocols. Canada, with its increasing emphasis on financial inclusion, is also witnessing growth, particularly in rural and underserved areas. The region's focus on improving user convenience and reducing operational costs aligns well with the adoption of next-gen ATMs.
In Europe, the market benefits from a well-established banking network and robust regulatory frameworks that encourage the integration of advanced ATM technologies. Countries like Germany, the UK, and France are at the forefront of adopting ATMs with features such as real-time currency exchange, multi-language interfaces, and cardless withdrawals. Additionally, the EU's push for cashless economies is shaping the demand for hybrid ATMs capable of supporting both traditional cash-based and digital transactions. Emerging markets in Eastern Europe are also adopting these technologies to modernize their banking infrastructure.
The Asia-Pacific region represents a high-growth market due to its rapidly expanding banking sector, increasing urbanization, and rising demand for automated banking services. China and India are leading the charge, fueled by government initiatives promoting digital financial inclusion. These countries are deploying next-gen ATMs in both urban and rural areas to bridge the gap in banking accessibility. Additionally, Japan and South Korea are investing in ATMs with advanced technologies such as AI-driven interfaces and QR code-based transactions, catering to their tech-savvy populations.
In Latin America, the Middle East, and Africa (LAMEA), the adoption of next-gen ATMs is driven by efforts to improve financial inclusion and expand banking services to remote areas. Brazil, Mexico, and South Africa are notable contributors, with a growing number of ATMs equipped with solar-powered systems and mobile banking integration. Despite challenges such as economic instability and technological disparities, these regions are gradually overcoming barriers through public-private partnerships and investments in digital banking infrastructure. The deployment of next-gen ATMs is seen as a crucial step in promoting economic growth and financial empowerment across underserved populations.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Next-Gen ATM Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Rising Demand for Secure and Advanced Transaction Technologies
- Increased Adoption of Digital Banking Solutions
-
Integration of Biometrics and Contactless Payment Systems- The integration of biometrics and contactless payment systems has emerged as a significant driver in the global next-generation ATM market. Biometrics, such as fingerprint recognition, facial recognition, and iris scanning, are enhancing the security and user experience in ATM transactions. By incorporating biometric authentication, ATMs offer a higher level of protection against fraud and unauthorized access, ensuring that only the legitimate user can complete a transaction. This trend is becoming increasingly important in the face of rising cyber threats and identity theft, where conventional PIN-based systems are often vulnerable.
The adoption of contactless payment systems is transforming how customers interact with ATMs. With the rise of mobile wallets and NFC-enabled cards, consumers can now use their smartphones or contactless cards to withdraw cash or complete other banking services without needing to insert a card into the machine. This convenience reduces transaction times and improves the overall customer experience, making ATMs more efficient and user-friendly. It also reduces wear and tear on ATM hardware, as customers no longer need to physically insert or remove cards during transactions.
The growing demand for seamless and secure financial services is driving the ATM industry's shift towards integrating these advanced technologies. Financial institutions are increasingly investing in next-gen ATMs that not only provide traditional banking services but also offer enhanced functionalities, including biometric verification and contactless payment options. This integration helps banks stay competitive by providing cutting-edge solutions that meet the evolving expectations of customers, ensuring that ATMs remain relevant in an increasingly digital world. As the adoption of these technologies continues to rise, the global next-gen ATM market is expected to experience significant growth.
Restraints:
- High Initial Setup and Maintenance Costs
- Cybersecurity and Data Privacy Concerns
-
Limited Adoption in Rural and Underdeveloped Areas- In the global next-generation ATM market, one of the key restraints is the limited adoption in rural and underdeveloped areas. This is due to several factors such as inadequate infrastructure, lack of technological expertise, and limited access to high-speed internet, which are crucial for operating advanced ATMs. These areas often struggle with the necessary resources to support the implementation of next-gen ATMs that require more sophisticated systems and connectivity. Consequently, financial institutions are hesitant to deploy such advanced systems in these regions, which hinders the growth of the market in rural and underdeveloped areas.
Rural and underdeveloped regions often face challenges such as low levels of financial inclusion and limited access to banking services. The lack of awareness about modern banking solutions further contributes to the slow adoption of advanced ATMs in these areas. In many cases, traditional cash-based systems remain dominant, and customers are less inclined to embrace new technology that they may not fully understand or trust. This cultural resistance to change makes it difficult to introduce next-generation ATMs to such regions and poses a significant barrier to market expansion.
The cost of upgrading ATM networks to next-generation systems can be prohibitive for financial institutions operating in these areas. The expense of installing and maintaining high-tech ATMs, along with the need for reliable and secure connectivity, often outweighs the potential benefits in rural and underdeveloped regions. This financial burden makes it less attractive for banks and ATM operators to invest in next-gen systems in these markets, further restricting their adoption and delaying the growth of the global next-gen ATM market.
Opportunities:
- Expansion of ATM Networks in Emerging Markets
- Advancements in AI and IoT for ATM Automation
-
Growth in Cash Recycling ATMs and Green ATM Initiatives- The growth in cash recycling ATMs presents a significant opportunity in the global next-gen ATM market. Cash recycling technology allows ATMs to accept deposits and dispense the same currency, which enhances operational efficiency for financial institutions. This reduces the need for cash transportation, lowers costs, and improves the overall cash management process. As cash usage remains relevant in many regions, particularly in emerging markets, the demand for these ATMs is expected to increase, supporting the growth of the next-gen ATM market.
Another key opportunity is the growing adoption of green ATM initiatives. With environmental concerns on the rise, banks and financial institutions are increasingly looking for ways to minimize their carbon footprint. Green ATM initiatives focus on energy-efficient designs, the use of renewable energy sources, and sustainable materials. These ATMs consume less power, reduce waste, and contribute to environmental conservation, making them attractive to consumers and institutions that prioritize sustainability. This trend is expected to drive demand for next-gen ATMs with eco-friendly features.
The combined impact of cash recycling and green initiatives aligns with the evolving needs of both financial institutions and consumers. As banks strive to reduce operational costs and enhance sustainability, the next-gen ATM market is poised for growth. These factors are particularly important in the context of increased competition and the growing expectation for more technologically advanced, environmentally responsible banking solutions. The convergence of efficiency and sustainability will likely fuel innovation and expansion in the ATM sector, creating a dynamic and rapidly evolving market landscape.
Competitive Landscape Analysis
Key players in Global Next-Gen ATM Market include:
- DIEBOLD INC.
- Euronet
- Fujitsu
- GRG Banking
- HESS Terminal Solutions GmbH & Co.
- Hitachi Payment Services Pvt. Ltd.
- Nautilus Hyosung
- NCR Corporation
- Triton Systems of Delaware LLC
- Wincor Nixdorf AG
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product Type
- Market Snapshot, By Solution
- Market Snapshot, By Technology
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Next-Gen ATM Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Rising Demand for Secure and Advanced Transaction Technologies
- Increased Adoption of Digital Banking Solutions
- Integration of Biometrics and Contactless Payment Systems
- Restraints
- High Initial Setup and Maintenance Costs
- Cybersecurity and Data Privacy Concerns
- Limited Adoption in Rural and Underdeveloped Areas
- Opportunities
- Expansion of ATM Networks in Emerging Markets
- Advancements in AI and IoT for ATM Automation
- Growth in Cash Recycling ATMs and Green ATM Initiatives
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Next-Gen ATM Market, By Product Type, 2021 - 2031 (USD Million)
- Conventional/Bank ATM
- Solar Powered ATM
- Self-Cashed or Fully Serviced ATM
- Smart ATM
- Cash Dispenser ATM
- Free Standing ATM
- Through-the-Wall ATM
- Brown Label ATM
- White Label ATM
- Others
- Global Next-Gen ATM Market, By Solution, 2021 - 2031 (USD Million)
- Deployment -
- Onsite
- Offsite
- Worksite and Mobile
- Managed Services
- Deployment -
- Global Next-Gen ATM Market, By Technology, 2021 - 2031 (USD Million)
- Contactless
- Voice Recognition
- Biometrics
- Video Banking
- AI (Artificial intelligence)
- IoT (Internet of Things) Integration
- Global Next-Gen ATM Market, By Application, 2021 - 2031 (USD Million)
- Bank Service Agent
- Bank
- Retail
- Enterprises
- Global Next-Gen ATM Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Next-Gen ATM Market, By Product Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- DIEBOLD INC.
- Euronet
- Fujitsu
- GRG Banking
- HESS Terminal Solutions GmbH & Co.
- Hitachi Payment Services Pvt. Ltd.
- Nautilus Hyosung
- NCR Corporation
- Triton Systems of Delaware LLC
- Wincor Nixdorf AG
- Company Profiles
- Analyst Views
- Future Outlook of the Market