The ATM Managed Services Providers has effectively perceived durable growth incited by an intensification in the quantity of cash dispensing machines & cash recycling machines; reduction in the prices accused by managed service benefactors, admission of the new players in the industry & an augment in the quantity of the bank branches amongst the calculated duration. The market is presently positioned in the growth stage with a stout prospect for further expansion at a sooner pace with positive trends projected in the industry.
The market size by revenue monitored a five-year CAGR of an effective percentage during the calculated period. The Profitability accompanying the ATM Cash Management Market is exceedingly correlated with numerous factors such as enlightening the process of cash withdrawals in the ATM, establishing a fresh breed of ATM machines, advancement in the customer retention schemes and relationships for the lengthier contracts. All of the above-mentioned aspects along with the ingenuities taken by the Bank Indonesia in the region have completely exaggerated the ATM Managed Service requirement in Indonesia.
However, the UAE ATM managed services market was effectively monitored to be functioning at its growth stage, forthcoming maturity as banks and ATM managed services entities begin investing in groundbreaking technology to systematize their services. The market is anticipated to effectively augment in the size owing to the effective increase in the cash management services market. Banks in the UAE have taken several steps in order to decrease the overall costs of functions. Apart from subcontracting the management of the ATMs, banks have begun decreasing their commercial footprint by finishing down branches, assimilation with the other banks and investment in technology-based services to decrease the reliance on ATMs for consumer services.
In addition, the Competition stage within UAE ATM managed services market was pragmatic to be decidedly determined among the three foremost companies. For cash management services, Transguard has a monopoly while Brink’s has just in progress to enter the market with an unimportant market share. Transguard attained its competitor G4S in the recent past years to become the market frontrunner in cash management and security services. Also, Transguard controls an enormous proportion of cash in the movement in the UAE while the due is controlled by banks. Last, of all, the competition with the ATM supply market of the UAE was also seen to be decidedly concentrated among 2 entities namely NCR Corporation and Diebold Nixdorf.
Not only has this, the effective growth in the number of ATMs and cash withdrawal transactions, increasing the outsourcing activity by the banks, entry of the fresh players to increase the growth in Indonesia ATM managed services market. Furthermore, the establishment of the fresh breed of the ATM machines namely multifunctional ATMs, cash recyclers, touch screen ATMs, mobile ATMs in the market will confirm more transactions in an ATM. Such machines deliver a bunch of the services apart from the cash withdrawal involving the cash deposit, statement inquiry, bill payment, updating passbook and several others.
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Ankur Gupta, Head Marketing & Communications