GURUGRAM, India, August 31, 2018 /PRNewswire/ --
Key Takeaway from Ken Research Report on India ATM Managed Services Market Outlook to 2023
- Increasing number of outdated ATMs will drive the demand for ATM managed companies to replace the old ATMs with advanced ATMs.
- Growth in debit cards and increasing direct benefit transfers will lead to surge in cash withdrawal and a higher demand for ATMs in future, which will imply banks to outsource more number of ATMs.
India ATM Managed Services market presents a compelling potential in the future albeit few challenges due to digitization and government intervention to make India a less cash based economy. Cash has always stayed King in the country where more than 70% of the financial transactions are cash based. Though recent development such as demonetization had a momentarily impact on the space, its affect quickly allayed with before demonetization period amount of cash in circulation again. The number of financial and non financial transactions performed in an ATM will shoot up in future with the introduction of machines such as bunch note acceptor and cash recyclers in the market. As, these machines allows various other features other than cash withdrawal such as cash deposit, updating passbook, user KYC and others will augment the growth of India ATM Managed Services market.
ATM recycling machines will increase in future and banks would be outsourcing these machines as well. However, interoperability will be a game changer. These will double the number of transactions with lower CRA cost which will therefore increase the demand of management service providers.
Increasing use of digital payment apps in future will decline the non financial transactions as it will allow people to check their account balance and keep a track record of their past transactions. However, total number of financial transaction in an ATM will increase in future as in India majority of the people still depends on cash transaction as compared to making digital payments. This will further led to increase in demand of cash management service in India.
Analysts at Ken Research in their latest publication "India ATM Market Outlook to 2023 - By ATM Supply, Managed Services (ATM Repair, Maintenance and Other Services, Transaction Processing, Cash Reconciliation Statement, Content and Electronic Journal Management) & Cash Management (ATM Replenishment, CIT, CPD)" believe that promoting better regulations, setting up biometric ATMs in rural areas and focusing towards hybrid business models will aid the India ATM Managed Services Market.
India ATM Managed Services market is expected to register positive CAGR of around 6.7% during the period FY'2018-FY'2023 in terms of revenue. ATM repair and maintenance along with cash management services will expect to have positive impact on overall revenue generation for the India ATM Managed Services market.
- India ATM Managed Services Market
- Brown Label ATMs in India
- Portable ATMs Market India
- Cash Management Market India
- Outsourced ATMs in India
- Number of ATM Transactions India
- ATM Managed Services Revenue India
- White Label ATMs in India
- ATM Replenishment Market India
- Electronic Journal Management Market India
- Cash Reconciliation Market India
- Cost to Set up ATMs in India
- India ATM Market Trends
- Investment India ATM Services
- Penetration ATMs in Rural Areas
- India Banking Industry
- Underbanked Population in India
- Unbanked Population in India
- Global ATM technology trends
- Tender Bid Process ATM Managed Services
- Cash Withdrawals in India
- Impact of PMJDY on ATMs
For more information about the research report, refer to below link:
- ATM Sales
- ATM Managed Services:
- ATM Repair
- Maintenance and Other Services
- Transaction Processing
- Cash Reconciliation Statement
- Content and Electronic General Management
- Cash Management:
- ATM Replenishment
- ATM Managed Services
- Hitachi Payments
- AGS Transact
- Diebold Systems
- Tata Communication Payment Solution
- Mphasis Payment Managed Service
- ATM Cash Management
- CMS Info Systems
- SIS Prosegur
- Brink's Arya
- Writer Safeguard
- Radiant Cash
- ATM Supply
- NCR Corporation
- AGS Transact
- Diebold Systems
- Vortex Engineering
India Payment Services Market Research Forecast to 2023 - By Online Payments, M-PoS, IMPS, AePS, USSD-BHIM Transactions, UPI, M-Wallet, PoS Terminal, Payment Gateways, CUG Cards and Payment Security Segment
The report provides a comprehensive analysis of payment services , m-wallet, payment gateway, mPOS, POS Terminals and Payment Security market in India. The report covers the overall competitive landscape; government role and regulations, growth drivers, trends and developments. The report concludes with market projection for future for every single market described above highlighting the major opportunities and cautions for overall India payment services market.
The report provides a comprehensive analysis of India ATM Cash Management Services market introduction and genesis, market size by revenue and working model. The report provides competitive landscape of major players in India Cash Management Services market such as CMS Info System, SIS Prosegur, Brink's Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash. The report also covers future projections.
Ankur Gupta, Head Marketing
SOURCE Ken Research