Next-Gen ATM Global Market Report 2024

The next-gen atm market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to the heightened demand for digital banking solutions, a rise in cardless transactions, increased adoption of mobile wallets, enhanced spending power, and an uptick in disposable income.

The next-gen atm market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to the increasing demand for personalized services and experiences for customers, the drive for enhanced efficiency and reduced costs for financial institutions, the rising adoption of smartphones, and the growing uptake of internet services. Key trends expected in the forecast period include integration with mobile banking apps, the delivery of personalized and user-customized experiences, the implementation of API-based architecture, product innovations, and market expansion.

The anticipated growth of the next-gen ATM market is expected to be driven by the increase in the value of consumers' Purchasing Power Parity (PPP). Purchasing Power Parity serves as a significant macroeconomic indicator that compares currencies across nations through a basket of goods methodology. Unsuch as market rates, PPP exchange rates remain relatively stable over time, providing a more accurate measure of the relative economic productivity and standards of living between countries. This stability aids next-gen ATMs in making informed decisions regarding expansion locations. For instance, the Energy Information Administration reported that the purchasing power annual average index value increased from 270.97 in 2021 to 292.66 in 2022. Consequently, the rise in the value of consumers' PPP is a driving force behind the next-gen ATM market.

The projected growth of the next-gen ATM market is also expected to be fueled by the increasing prevalence of contactless payments. Contactless payments utilize cards, phones, or wearables to swiftly and securely complete transactions without physical contact. Next-generation ATMs are integrating contactless payment options to offer users a faster, more convenient, and hygienic banking experience. In 2021, contactless payments witnessed a significant surge, totaling 13.1 billion transactions, a 36% increase from 2020, and 52% higher than pre-pandemic levels in 2019, according to UK Finance. The total value reached £165.9 billion, up 46% from 2020 and 106% from 2019. With contactless payments constituting a significant portion of debit and credit card transactions, their widespread adoption is driving the next-gen ATM market.

Leading players in the next-gen ATM market are adopting innovative strategies such as strategic collaborations to enhance their market share. These collaborations play a crucial role in advancing the market by fostering innovation, expanding capabilities, and addressing emerging challenges. In February 2021, ACI Worldwide Inc. and Auriga Spa partnered to launch a next-generation ATM acquiring and self-service banking platform. This collaboration integrates ACI's Enterprise Payments Platform with Auriga's Win Webserver, offering improved customer service, centralized ATM security operations, and a consistent consumer experience across channels. The partnership aims to optimize branch and ATM estates, meeting the evolving demands of consumers and the global need for advanced ATM capabilities.

Innovative technologies, such as card-less cash withdrawals, are being created by major players in the next-gen ATM market to improve their market share. Card-less cash withdrawals enable users to access cash at ATMs without using a physical debit or credit card. For instance, in September 2023, Hitachi Payment Services launched a UPI-enabled White Label ATM, allowing for card-less cash withdrawals and enhancing security. This technology offers a unified and secure user experience, contributing to financial inclusion in areas with limited banking infrastructure and promoting modern transaction processing and ATM management solutions.

In June 2021, NCR Corporation, a U.S.-based company specializing in banking software and services for next-gen ATMs, acquired Cardtronics Inc. for approximately $2.5 billion. This strategic acquisition enables NCR Corporation to provide technology solutions and capabilities that enhance business operations. The acquisition aligns with the NCR-as-a-Service strategy, transforming the earnings mix towards software, services, and recurring income while benefiting clients. Cardtronics Inc., the acquired company, is a U.S.-based manufacturer of ATMs.

Major companies operating in the next-gen atm market report are Fujitsu Limited, NCR Corporation, AIB Group plc, Diebold Nixdorf Inc., Euronet Worldwide Inc., OKI Electric Industry Co. Ltd., Hyosung Corporation, ACI Worldwide Inc., EZ Energy USA Inc., GRG Banking Equipment Co. Ltd., Bancsource, Hitachi Payment Services Pvt. Ltd., Nautilus Hyosung America Inc., Monex Financial Services Ltd., Invenco Group Ltd., Aevi International GmbH, HESS Cash Systems GmbH, Puloon Technology Inc., Triton Systems of Delaware LLC, Spinnaker International Ltd., Ark Technologies Group, Citywide ATM Inc., Unified Payments Services Ltd., Genmega Inc., Sharenet Inc., Cypress Advantage, TEKchand Pty Ltd.

North America was the largest region in the next-gen ATM market in 2023. The regions covered in the next-gen atm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the next-gen atm market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of next-gen ATMs include cash dispensers, deposit ATMs, cash recycling ATMs, self-service ATMs, self-service kiosks, mobile ATMs, and others. A cash dispenser is a device embedded in the walls of a bank or other establishments that enables customers to withdraw cash using a unique card. Contactless technology, voice recognition, biometrics, video banking, artificial intelligence (AI), and Internet of Things (IoT) integration applications are utilized for bank service agents, retail, and enterprise applications, providing deployment and managed services.

The next-gen ATM research report is one of a series of new reports that provides next-gen ATM market statistics, including the next-gen ATM industry's global market size, regional shares, competitors with next-gen ATM market share, detailed next-gen ATM market segments, market trends and opportunities, and any further data you may need to thrive in the next-gen ATM industry. This next-gen ATM market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The next-gen ATM market consists of revenues earned by entities by providing services such as mobile integrations, remote maintenance and management, and personalized functionality. The market value includes the value of related goods sold by the service provider or included within the service offering. The next-gen ATM market also includes sales of solar-powered ATMs, self-cashed or fully serviced ATMs, smart ATMs, free-standing ATMs, through-the-wall ATMs power switches, security cameras, panic alarms, and radio frequency identification (RFID) access gates, which are used in providing next-gen ATM services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.