Multivendor ATM Software Market to $6.23 Bn, Globally, by 2026 at 23.6% CAGR, Says Allied Market Research

Increase in demand for modern ATM software and hardware, rise in awareness regarding benefits of multivendor ATM software, and integration of new technologies such as QR codes are expected to propel the growth of the global multivendor ATM software market

PORTLAND, Oregon, Sept. 11, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Multivendor ATM Software Market by Component (Software and Service), Function (Bill Payment, Card Payment, Cash/Cheque Dispenser, Cash/Cheque Deposit, Passbook Printer, and Others), and End User (Banks & Financial Institutions and Independent ATM Deployer): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global multivendor ATM software market was pegged at $1.14 billion in 2019 and is projected to reach $6.23 billion by 2026, registering a CAGR of 23.6% during the forecast period.

Chief reasons for market fluctuations

Ongoing modernization of older ATM estates, increase in demand for modern ATM software and hardware, especially from financial sectors, and rise in awareness about benefits of multivendor ATM software have boosted the growth of the global multivendor ATM software market. However, limitations in terms of ATM management and complexity in working with ATM suppliers hamper the market growth. On the contrary, integration of new technologies such as QR codes, contactless payments, and touch screens are expected to create lucrative opportunities in the near future.

Request Sample PDF of Multivendor ATM Software Market Report@ https://www.alliedmarketresearch.com/request-sample/2982

Software segment dominated the market

Based on component, the software segment dominated the market in 2018, contributing nearly three-fifths of the market, owing to growing awareness regarding benefits of multivendor ATM software as it offers reduced time and easier software update. However, the service segment is projected to register the fastest CAGR of 25.8% during the forecast period, owing to increased use of advanced analytics for predictive maintenance in multivendor ATM support services.

Card payment segment to portray fastest growth

The card payment segment is projected to manifest the fastest CAGR of 31.1% during the forecast period, owing to rise in adoption of multivendor ATM software among banks to remain compliant with EMV card payment standards. However, the cash/cheque dispenser segment dominated the market in 2018, contributing more than two-fifths of the global multivendor ATM software market.

Independent ATM Deployer segment to create new opportunities

The independent ATM deployer segment held the largest share in 2018, accounting for more than half of the global multivendor ATM software market, owing to rapid growth of nonbank ATM sector. Moreover, the segment is projected to register the fastest CAGR of 24.8% during the study period. The global multivendor ATM software market report includes analysis of the banks & financial institutions segment.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2982

Europe holds major share followed by North America

The market across Europe held the largest share in 2018, contributing more than two-fifths of the market, owing to increase in adoption of 'thin client' ATM architecture among European banks and increased purchasing power and sophisticated procurement processes. However, North America held second-highest share in 2018, contributing nearly one-third of the market. On the contrary, the global multivendor ATM software market across the Asia-Pacific region is estimated to register the fastest share in 2018, accounting for 30.5% during the forecast period. This is due to major shift toward open architectures due to rapid adoption of ATM hardware using Microsoft Windows operating system and adoption of TCP/IP-based networks.

Torchbearers of the market

• Clydestone Group
• Auriga SpA
• GRGBanking
• Diebold Nixdorf, Incorporated
• Nautilus Hyosung America, Inc.
• KAL
• Printec Group,
• NCR Corporation
• Vortex Engineering Pvt. Ltd., Incorporated

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Industry Reports:

Predictive Maintenance Market is Estimated to Generate $23,014.7 million Billion by 2026

Big Data Analytics in Healthcare Market to Accrue $67.82 billion by 2025, Globally

Self Service Technologies Market is Estimated to Generate $31.75 billion by 2020

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Logo - https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg