ATM Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global ATM Market is projected to grow from USD 27.04 Billion in 2025 to USD 37.77 Billion by 2031, reflecting a compound annual growth rate of 5.73%. An Automated Teller Machine functions as an electronic telecommunications device enabling financial institution customers to execute transactions, such as cash withdrawals, deposits, and fund transfers, at any time without needing direct interaction with bank staff. Market growth is primarily driven by the strategic necessity for banks to lower operational costs through off-site self-service terminals and the enduring demand for cash liquidity in emerging economies where digital infrastructure remains under development. Furthermore, continuous initiatives to extend financial services to underbanked regions support the ongoing deployment of these units as critical global access points.

However, the market faces a significant challenge due to the rapid adoption of digital payments, which systematically reduces the frequency of physical cash transactions and threatens the revenue models of legacy networks. This shift is particularly acute in mature economies where consumers increasingly prefer contactless alternatives over currency. According to UK Finance, cash transactions accounted for only 9 percent of all payments in the United Kingdom in 2024, illustrating the substantial pressure that the migration toward cashless banking places on the traditional ATM industry.

Market Drivers

The proliferation of cash recycling and deposit automation acts as a primary catalyst for market evolution, allowing financial institutions to migrate routine counter transactions to self-service terminals. This shift enables banks to optimize branch footprints and reduce operational costs while maintaining physical touchpoints for deposits. The demand for these versatile machines is particularly strong in markets where upgrading legacy hardware is essential to support efficiency. For instance, according to Hitachi Payment Services, April 2024, in the press release regarding the launch of their Upgradable ATM, the company estimates a potential market of approximately 100,000 Upgradable ATMs in India over the next eight years, highlighting the massive investment in adaptable infrastructure that supports both withdrawal and automated deposit functions.

Simultaneously, sustained cash reliance in emerging economies ensures the continued relevance of ATM networks despite the rapid expansion of digital payment ecosystems. In these high-growth regions, the absolute volume of currency in circulation continues to rise, necessitating robust dispensing infrastructure to service large populations that depend on physical money for daily commerce. According to Swarajya, November 2024, in the article 'ATM Numbers Shrink Despite Record Cash Circulation', the amount of cash in circulation in India surged to Rs 34.70 lakh crore, marking a 100 percent rise since demonetization. This growth compels operators to maintain accessibility. Furthermore, resilience is evident even in mature markets; according to LINK, January 2025, consumers withdrew a total of £79.5 billion from the network's cash machines in 2024, demonstrating that the global ATM market remains underpinned by significant transaction values.

Market Challenges

The rapid proliferation of digital payment alternatives presents a fundamental structural impediment to the expansion of the Global ATM Market. As consumers in mature economies increasingly migrate toward contactless cards and mobile wallet ecosystems, the functional necessity of physical currency for daily commerce significantly declines. This reduction in cash dependency directly correlates with falling transaction volumes at self-service terminals, which strikes at the core of the industry’s revenue generation model. Because the profitability of an ATM network relies heavily on the frequency of withdrawal fees and interchange revenue, a sustained drop in user engagement renders many off-site locations economically unviable, forcing operators to decommission underperforming units rather than expand their fleets.

This displacement of currency is evident in recent industry data. According to the Australian Banking Association, in 2024, the total value of mobile wallet transactions surpassed ATM cash withdrawals for the first time, while the proportion of transactions made using cash fell to 7.5 percent. Such a pronounced shift illustrates how the convenience of digital channels is cannibalizing the traditional market share of cash dispensing services, thereby limiting the potential for network expansion and compelling a contraction in the installed base of terminals.

Market Trends

The integration of cryptocurrency exchange features is reshaping the functional landscape of the Global ATM Market, transforming terminals from simple cash dispensers into bidirectional fiat-to-crypto bridges. This trend is driven by Independent ATM Deployers (IADs) who are aggressively expanding their physical footprints to capture the growing demand for accessible digital asset entry points, effectively bypassing traditional banking infrastructure. This expansion strategy is evident in the rapid deployment of specialized kiosks that facilitate seamless conversion between physical currency and blockchain assets. According to Bitcoin Depot, July 2024, in the press release 'Bitcoin Depot Exceeds Goal Deploying of 8,000 Bitcoin ATMs Five Months Ahead of Schedule', the company successfully expanded its fleet to over 8,180 kiosks, demonstrating the tangible acceleration of this hybrid financial infrastructure within the broader self-service market.

The deployment of smart ATMs with multifunctional capabilities is accelerating as operators prioritize software longevity and enhanced processing power to support next-generation services. As financial institutions face the obsolescence of legacy operating systems, there is a coordinated migration toward advanced platforms that ensure security compliance while enabling features such as video banking and complex integrations. This technological pivot ensures that the installed base remains relevant by adopting adaptable software architectures capable of sustaining long-term operational standards. According to Diebold Nixdorf, August 2024, in the press release 'Diebold Nixdorf First ATM Solution Provider to Support Microsoft® Windows 11', the company announced it became the first solution provider to support the Windows 11 IoT Enterprise LTSC 2024 operating system on its DN Series devices, securing support through 2034 and marking a critical shift toward future-proofing global ATM networks.

Key Players Profiled in the ATM Market

• Diebold Nixdorf, Inc.
• NCR Atleos Corporation
• Hitachi Channel Solutions, Corp
• Hyosung TNS Incorporation
• Triton Systems of Delaware, LLC
• Euronet Worldwide, Inc.
• GRG Banking Equipment Co., Ltd.
• Fujitsu Limited
• HESS Cash Systems GmbH
• KEBA Group AG

Report Scope

In this report, the Global ATM Market has been segmented into the following categories:

ATM Market, by Solution:

• Deployment Solutions
• Managed Services

ATM Market, by ATM Type:

• Conventional/Bank ATMs
• Brown Label ATMs
• White Label ATMs
• Smart ATMs
• Cash Dispensers

ATM Market, by Application:

• Withdrawals
• Transfers
• Deposits

ATM Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global ATM Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.