GURUGRAM, India, July 10, 2019 /PRNewswire/ --

• It is expected that by 2023, the relative proportion of ATM Site Monitoring and ATM Repair & Maintenance in the market would enlarge at a CAGR of close to 3% and 17% respectively during the forecast period. Cash management services would still capture highest share registering a CAGR of close to 1% during the same.
• In the ATM Supply market, the proportion of cash dispensing machines is expected to rise at a CAGR of 15%. This is owing to the increased focused on improving the accessibility & adoption of cards in the economy.
• The major companies in the market have been Abana, AMNCO, APSG ( Abbu Sarhad), G4S Almajal, Hamrani  and NCR in 2018.

Saudi Arabia ATM Managed Services Market will be facilitated by increasing cash withdrawals from ATM, growing demand for outsourcing management services by banks, diversifying services portfolio of managed service providers and new upcoming models of managing ATMs in the Kingdom. More ATMs have been projected to be set up in the Kingdom during the forecast period. There would be an opportunity for players to enter with new and unique ATM models. New revenue models like variable pay model and others are anticipated to be introduced in the forecast period. Debit Card Penetrations in the country is anticipated to increase in the future owing to increase in government's initiatives towards financial inclusion, which will make them more capable of making withdrawals and other non-financial transactions from an ATM.   

Saudi Arabia is primarily a cash dominant society and it is anticipated to remain the same in the forecast period. Currently all managed service providers are paid a fixed amount for their services on a monthly basis. It is anticipated that a new model will be introduced in the forecast period wherein service payment outsourced to one company will be done on per transaction basis. This is also known as variable-pay model. More MSPs will be interested in adopting this model as it will generate higher revenue as compared to the current model. There is also a possibility of non-banking enteritis being allowed to own and operate the ATMs which is also known as white label ATMs.

Analysts at Ken Research in their latest publication "Saudi Arabia ATM Managed Service Market Outlook to 2023 - By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others - Cash Processing, Cash Vaulting, Cash Reconciliation & Cash Forecasting)"believe that the market is expected to register positive CAGR of close to 2% in terms of revenue generated by managed service providers during the forecasted period 2018-2023E.

Key Segments Covered in Saudi Arabia ATM Managed Service Market

• By Type of ATMs (On the basis of Number of ATMs)
• On-Site ATMs
• Off-Site ATMs
• Mobile ATMs
• By Service Offerings (On the basis of Revenue)
• Cash Management Services
• ATM Repair & Maintenance
• ATM Site Maintenance
• By Type of ATM Machine (on the basis of Number of Machines)
• Cash Dispensers
• Cash Recyclers
• By Service offerings of Cash Management Companies (On the basis of Revenue)
• Cash Replenishment Service
• Cash-in-Transit
• Other cash management services including cash processing, cash vaulting, cash reconciliation & cash forecasting

Key Target Audience

• Managed Service Providers
• Major ATM Suppliers / Vendors
• Cash Management Companies
• Banks
• Saudi Arabian Monetary Authority (SAMA)
• Investors
• Facility Management Companies

Time Period Captured in the Report:

• Historical Period – 2013-2018
• Forecast Period – 2019-2023

Companies Covered:

• Abana
• Abu-Sarhad
• Hamrani
• NCR
• Hyosung
• Sanid
• Hemaia Group
• G4S Almajal
• AMNCO

For more information on the market research report please refer to the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/saudi-arabia-atm-managed-service-market/215822-93.html

Other Related Reports

Indonesia ATM Managed Service Market Outlook to 2023 - By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance & Others- Journal Management & ATM Reconciliation), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others - Cash Processing, Cash Vaulting & Cash Forecasting)

The report covers market size by revenue generated by managed service providers along with market segmentation by service offerings (from cash management services, ATM repair and maintenance, ATM site maintenance services and others including journal management and ATM reconciliation), by type of ATMs (On-site, off-site, Mobile ATMs), by ATM Machine (Cash Dispensers, Cash Recyclers), and by service offerings of Cash Management Companies (Cash Replenishment Service, Cash-in-Transit & Other services including cash processing, cash vaulting & cash forecasting) for the period 2013-2023. Comprehensive analysis on growth drivers, issues and challenges, recent trends and developments, cost components, decision making parameters and competitive landscape of players (Diebold Nixdorf, NCR Corporation, SSI (Swadharma Sarana Informatika), Bringin Gigantara, Advantage, Kejar, G4S, Abacus, and TAG) has been presented in the report along with the future analysis. The interpretation explores ATM Supply Market and ATM Cash Management Services Market as detailed market-snapshots, future outlook & projections along with analyst recommendation & macroeconomic variables highlighting the major opportunities & cautions to the reader. This report will particularly help the readers to identify the ongoing trends and anticipated growth in the future depending upon changing industry dynamics in upcoming years.

India ATM Cash Management Market Forecast to 2023 - ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing

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. The report is useful for ATM Managed service providers, Cash management companies, ATM Manufacturers, White Label ATM Management companies, Banks, Reserve Bank of India (RBI), ATM Switch companies, Cash Reconciliation companies, Digital payments merchants and other stake holders to align their market centric strategies according to ongoing and expected trends in the future.

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)

The report provides a comprehensive analysis of India ATM Managed Services market introduction and genesis, market size by revenue, market ecosystem, value chain analysis. The report covers snapshot on India ATM Cash Management Services market, decision making process for India ATM Management Services Market and tender process applicable. The report provides a competitive landscape of major ATM Managed Services players including Hitachi Payments, AGS Transact, Diebold Systems, Euronet, EPS, Tata Communications Payment Solution, FIS, FSS, Mphasis Payment Managed Services, NCR, and CMS. Companies which are covered in ATM Cash Management practice include CMS InfoSystem, SIS Prosegur, Brink's Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash. In ATM Supply, major companies which are covered include NCR Corporation, AGS Transact, Diebold Systems and Vortex Engineering. The report also covers SWOT analysis, future projections along with analyst recommendation.

India ATM Managed Services and Outsourcing Market Outlook to 2019 - Spurred by Expansion of the ATM Network

The industry research publication presents a comprehensive analysis of market size by value of the ATM Managed Services and Outsourcing Market in India, market segmentation by number of ATMs existing in the country by different models and by value, Outsourced ATMs in India by different banks. The report entails the market share analysis and company profiles of major players in the market and market dynamics. Comprehensive analysis on growth drivers, issues and challenges in the market, recent trends and developments and cost components and services rendered to banks by the service providers and recent investments in the sector has been presented in the report along with the future analysis.

The ATM industry in India is rapidly transitioning from the traditional methods of ATM operations into the internationally accepted ones. Companies operating in other sectors in India as well as abroad are eyeing the Indian ATM managed service and outsourcing market since the market offers immense potential.

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SOURCE Ken Research