India ATM Managed Services Market Overview
Banking Industry in India Overview
The banks of India are competitive on a global level. Increasing volumes of operations in banks have been growing in line with the population of the country. During the last 30 years since nationalization, tremendous changes have taken place in the financial markets as well as in the banking industry due to financial sector reforms. The sector is now being conveniently backed by deregulation, innovation and technological up gradation, making its day-to-day operations increasingly efficient. Furthermore, banks have shed their traditional functions and have been innovating, improving and coming out with new types of services to cater emerging needs of their customers. The banking system in India has been significantly impacted by the electronic age, resulting in the instant transmission of electronic funds via IMPS, NEFT, AePS and other systems. However, the growth of electronic banking has also brought forth new risks in areas like data security and integrity, necessitating the need for new risk management strategies.
How Atm Managed Services Market Is Positioned In India?
Traditionally, people in India used to be highly dependent on local money lenders and public sector banks for withdrawing cash or for taking up the loans for fulfilling their cash requirement. After introduction of private banks such as HDFC, UTI (Axis Bank), ICICI and IDBI bank, these banks have started expanding their ATMs since the year 1994. Currently ATM management services market is at a developing stage. The ATM Managed Services Market is moderately fragmented among top 6-7 players which constituted more than ~% of the revenue share though there are number of smaller players existing in the market. Indian government during August, 2014 has initiated the scheme of opening up of bank account at zero balance under Pradhan Mantri Jan Dhan Yojana (PMJDY). This led to expansion in the number of transactions performed in an ATM as debit card users in India increased significantly.
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RBI passed the law to increase the penetration of ATMs in rural areas of India to meet the desired aim of financial inclusion which further supported the growth of ATM managed service market. Over the span of last five years, the number of ATMs installed has increased by ~ ATMs from ~ as of 31st March 2016 to ~ as of March 31st 2022. As of 31st March 2022, approximately ~% of the ATMs are being outsourced by the banks as Banks observed that outsourcing an off-site ATM is much more cost effective instead of managing them by the banks. It is clearly witnessed that banks have been increasing the number of ATMs which they outsource to MSPs, which has been counted as primary reason for increase in revenue garnered by ATM managed services market.
Government announced demonetization of currency in November, which led to shortage of currency circulation in the economy and impacted ATM managed service market during FY 2017. The ATM managed services industry was again affected during FY’2021 due to the lockdowns and restrictions caused by the COVID-19 global pandemic.
Key Target Audience
- ATM Managed service providers
- Cash management companies
- ATM Manufacturers
- White Label ATM Management companies
- Public and Private Sector Banks including Payments Banks
- Reserve Bank of India (RBI) and NHB
- ATM Switch companies
- Cash Reconciliation Companies
- Digital Payments Merchants
- VC & PEs, Investment Bankers
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Time Period Captured in the Report:
- Historical Year: FY2016-FY2026
- Base Year: FY2022
- Forecast Period: FY2022 – FY2027F
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- Tata Communication Payment
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- Writer Business Services
- Brink’s Arya
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Key Topics Covered in the Report
- India ATM Managed Services Market Size (FY’2016-FY’2022)
- India ATM Managed Services Market Overview
- India ATM Managed Services Market Segmentation By Type Of ATMs (Managed Services, Brown Label ATM, Managed By Banks, White Label ATMs)
- India ATM Managed Services market Segmentation By Type Of ATM Machine (Cash Dispensing And Cash Recyclers)
- India ATM Managed Services Market Segmentation By Service Offerings (ATM Repair And Maintenance, ATM Site Management, Transaction Processing, Cash Reconciliation Statement, Content And Electronic Journal Management )
- India ATM Managed Services Market Segmentation By Business Model (Fixed Pay Model And Variable Pay Model)
- India ATM Cash Management Services Market Segmentation By Services (ATM Replenishment, CIT, CPD And Others)
- India ATM Managed Services market Ecosystem And Value Chain Analysis
- Snapshot on India ATM Cash Management Services Market.
- Snapshot on India ATM Supply Market
- Decision Making Process And Tender Process Applicable In India ATM Managed Services Market
- Trend And Developments In India ATM Managed Services Market
- Issues And Challenges In India ATM Managed Services Market
- Impact of Demonetization and COVID-19 on the ATM Managed Services Market
- Current Deployment and Future growth of Cash Recycling Machines in India
- Recent Investment Details (Mergers, Acquisition And Partnerships) In India ATM Managed Services Market
- Complete Competition Analysis Including Heat Maps & Strength and Weakness Of The Major Companies.
- Competitive Landscape Of Major Players In India ATM Managed Services Market
- SWOT Analysis Of India ATM Managed Services Market
- Future Outlook And Projections Of India ATM Managed Services Market (FY’2022-FY’2027F)
- Analyst Recommendations
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