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United States ATM Services Market

United States ATM Services Market Size, Trends, Analysis: By Deployment: Onsite ATMs, Offsite ATMs, Work Site ATMs, Mobile ATMs; By Management: ATM Management Services, Managed Directly by Banks; By Type: Multifunction ATMs, Smart ATMs, Cash Dispensers; By Application; Regional Analysis; Competitive Landscape; 2024-2032

United States ATM Services Market Outlook

The United States ATM services market size reached approximately USD 7.73 billion in 2023. The market is projected to grow at a CAGR of 2.5% between 2024 and 2032, reaching a value of around USD 9.54 billion by 2032.

 

Key Takeaways

  • The number of ATMs in the United States stood at 451,500 in 2022.
  • In the United States, while recycling ATMs have been predominantly installed by major deployers, smaller deployers are anticipated to catch up, with 40% of ADTs recycling cash by 2026.
  • The United States is poised to surpass Japan as the world's second-largest market for ADTs by 2026.

 

The United States ATM services market is being aided by the growing adoption of turnkey ATM programs, which minimises ATM ownership costs. The market is expected to witness steady growth, with multiple banks pooling their ATMs to a single turnkey service provider. ATMs offer ease of access to cash at any point in time and enable individuals to perform quick self-service transactions, including bill payments, deposits, and transfers between accounts.

 

ATMs are easily accessible as they are installed in locations like supermarkets, convenience stores, shopping centres, and offices, among other places. ATM providers are increasingly outsourcing ATM installation, maintenance, and other services to reduce their overall costs and increase revenue.

 

Key factors driving the United States ATM services market growth include the installation of ATMs in various locations, the popularity of Bitcoin ATMs, the technological advancement of ATMs, and the rising popularity of cardless technologies.

 

Key Trends and Developments

Rising demand for cardless ATMs and shifting ATMs to cloud-based systems to enhance their cost-effectiveness and security aid the United States ATM services market development.

 

Date Company Announcement
July 2023 Genesis Coin Genesis Coin, a Bitcoin ATM software provider, successfully acquired 5,700 cryptocurrency ATMs from CoinCloud, resulting in a total network of 17,700 ATMs.
March 2023 CoinFlip CoinFlip, a fintech and cryptocurrency ATM provider, integrated the Pax Gold token into its network of 4,000 ATMs across the U.S. and Puerto Rico.
February 2023 NCR Corporation NCR Corp extended and expanded its long-term partnership with Walgreens, making it the exclusive ATM services provider for most Walgreens stores in the US, Puerto Rico, and the District of Columbia.
January 2023 NCR Corporation NCR Corp partnered with United Heritage Credit Union (UHCU) to deploy NCR's ATM as a Service solution, improving ATM operations, infrastructure, and member experience.

 

 

Trends Impact
Use of technologically advanced ATMs There is a growing adoption of contactless ATMs that use near-field communication (NFC), enabling individuals to access their accounts and withdraw money without the requirement of a physical ATM card.
Unbanked and underbanked individuals rely on ATMs In 2019, as reported by the Federal Reserve, 22% of all American adults were unbanked and underbanked. The adults have been relying on ATMs to gain access to cash and services, including payday loans, money orders, and pawnshop loans.
Popularity of crypto ATMs There is a rising popularity of crypto ATMs across the United States. Crypto ATMs offer convenience and accessibility for individuals considering the purchase and sale of cryptocurrencies.

 

 

Figure: Top 10 Crypto ATM Operators in the United States

The top 10 operators run 24,015 crypto ATMs (79.1%). There are 196 other operators, who run 6,348 Crypto ATMs (20.9%).

 

United States ATM Services Market

 

United States ATM Services Market Trends

Banks and financial institutions are focusing on integrating the latest technologies into ATMs to provide value-added and convenient services to customers without the need for opening physical branches. Furthermore, with the ongoing digital transformation, smart ATMs are gaining popularity.

 

Next-generation smart ATMs can be operated and maintained remotely, hence lowering the expenses of banks. In addition to this, smart ATMs support biometric authentication, thereby effectively identifying and preventing synthetic identity fraud. The integration of AI in ATMs is expected to boost predictive service models, help analyse data patterns, effectively monitor and identify the lifecycle of devices, and reduce operational costs. This is likely to favour the United States ATM Services market development.

 

Market Segmentation

United States ATM Services Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Deployment Onsite ATMs, Offsite ATMs, Work Site ATMs, Mobile ATMs
Management ATM Management Services, Managed Directly by Banks
Type Multifunction ATMs, Smart ATMs, Cash Dispensers
Application Withdrawals, Transfers, Deposits, Others
Region New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, Far West

 

By management, ATM management services are expected to hold a significant United States ATM services market share to monitor and analyse the condition and reliability of ATMs

According to the United States ATM services market report, banks make use of ATM management services to streamline processes, improve operational efficiency, and monitor and analyse the condition and reliability of ATMs remotely. Efficient management of ATMs is a crucial aspect in ensuring their reliability and safety. ATM management services help minimise downtime and improve customer experience by ensuring the presence of enough cash in the machines and providing banks with updated real-time information on the functioning of ATMs.

 

As per the ATM services market in United States, bank-owned ATMs are directly managed and operated by the banks, solidifying the authenticity of the ATMs. Banks are solely engaged in the operation and maintenance functions such as cash loading, AMC, and security for the bank-owned ATMs. Banks set up ATMs across various locations known as onsite and offsite ATMs. Onsite ATMs are located at the premises of the bank branch, whereas offsite ATMs are placed at locations away from the bank premises, such as railway stations, colleges, and others. Offsite ATMs allow for the ease of cash withdrawal to travellers, students, and the general public.

 

Cash dispensers are a prominent type of ATM widely gaining popularity in the United States

According to the United States ATM services market analysis, the demand for cash dispensers is high as they offer 24*7 services and are located at various places, facilitating convenient access to hard cash for customers. Cash dispensers also enable the safe storage of cash for various denominations.

 

Digital transformation across banking is allowing for the greater adoption of smart ATMs, further enabling banks to make more profit. Biometric authentication offered by smart ATMs helps recognise the identity of new customers, allowing banks to combat fraud and improve customer experience. With a growing number of banking services, banks are introducing multi-function ATMs that offer services such as cash withdrawal, money transfer, account opening, credit card application, etc. Multi-functional ATMs may also feature dual modes, which include a traditional ATM with a cash-recycling ATM.

 

Competitive Landscape

Significant capital investment in specialized equipment, high-quality products, and well-established distribution networks is required to establish ATM services in the United States.

 

Company Name Year Founded Headquarters Products/Services
NCR Corporation 1884 Atlanta, United States ATM services under the Payments & Network and Self-Service Banking segments. Additionally, NCR offers ATM branding solutions, management services, payment processing, and merchant acquiring services.
Diebold Nixdorf, Incorporated 1859 Ohio, United States Self-service fleet management, branch life-cycle management, ATM-as-a-service, etc.
FCTI, Inc. 1993 Los Angeles, United States ATM marketing, branding, and operational services, etc.
Hitachi Channel Solutions, Corp. 2004 Aichi, Japan Self Service Solution is an innovative and flexible ATM driving solution, guaranteeing seamless, interactive, and secure customer service. Additionally, its   Cash Management Cash Recycling ATM and Touchless Transaction Solution elevate convenience and efficiency, benefitting both customers and banks.

 

Other key players in the ATM services market in United States include Euronet Worldwide, Inc., Prineta LLC, and Payment Alliance International, among others.

 

United States ATM Services Market Analysis

The Southeast region holds a significant market share in the United States ATM services market

Southeast USA has a significant number of ATMs installed. The region is also characterised by developments. For instance, in May 2021, First Florida Integrity Bank (FFIB), a community bank in Southwest Florida with over USD 2.2 billion in assets, expanded and renewed its contract with ATM USA for outsourcing and operating its ATMs. The new contract includes ATM management, equipment, software updates, 1st and 2nd line maintenance, cash loading, compliance, and daily operations for the bank’s six ATMs throughout Southwest Florida.

 

Mideast USA is characterised by thousands of ATMs around New York City in bodegas, pharmacies, fast food restaurants, and several hotel lobbies for the convenience of citizens as well as travellers. As New York City is a popular travel destination globally, it provides an opportunity for multi-currency ATMs that help tourists exchange their money for dollars.

 

Bitcoin ATMs are widely popular in the Far West USA. In April 2023, Lux Vending LLC (Bitcoin Depot), a US-based Bitcoin ATM operator, signed an agreement to install more than 80 Bitcoin ATMs at the Jacksons Food Stores Inc. across Nevada, Oregon, California, and Washington and other regions, allowing users of Bitcoin Depot to exchange money for bitcoin, aiding the United States ATM services market growth.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Deployment
  • Management
  • Type
  • Application
  • Region
Breakup by Deployment
  • Onsite ATMs
  • Offsite ATMs
  • Work Site ATMs
  • Mobile ATMs
Breakup by Management
  • ATM Management Services
  • Managed Directly by Banks
Breakup by Type
  • Multifunction ATMs
  • Smart ATMs
  • Cash Dispensers
Breakup by Application
  • Withdrawals
  • Transfers
  • Deposits
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • NCR Corporation
  • Diebold Nixdorf, Incorporated
  • FCTI, Inc.
  • Hitachi Channel Solutions, Corp.
  • Euronet Worldwide, Inc.
  • Payment Alliance International
  • Prineta LLC
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    United States ATM Services Market Overview

    8.1    Key Industry Highlights
    8.2    United States ATM Services Historical Market (2018-2023) 
    8.3    United States ATM Services Market Forecast (2024-2032)
    8.4    United States ATM Services Market by Deployment 
        8.4.1    Onsite ATMs
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Offsite ATMs
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Work Site ATMs
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Mobile ATMs
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
    8.5    United States ATM Services Market by Management
        8.5.1    ATM Management Services
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Managed Directly by Banks
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    United States ATM Services Market by Type
        8.6.1    Multifunction ATMs
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Smart ATMs
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Cash Dispensers
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    United States ATM Services Market by Application
        8.7.1    Withdrawals
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Transfers
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Deposits
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Others
9    United States ATM Services Market by Region
    9.1    New England
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Mideast
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Great Lakes 
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Plains
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
    9.5    Southeast
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
    9.6    Southwest
        9.6.1    Historical Trend (2018-2023)
        9.6.2    Forecast Trend (2024-2032)
    9.7    Rocky Mountain
        9.7.1    Historical Trend (2018-2023)
        9.7.2    Forecast Trend (2024-2032)
    9.8    Far West
        9.8.1    Historical Trend (2018-2023)
        9.8.2    Forecast Trend (2024-2032)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Technology Trends Analysis
    11.1    Self Service ATMs
    11.2    Deposit Automation and Recycling ATMs
    11.3    Card-less ATM Transaction
    11.4    Software Migration for ATMs
    11.5    Crypto currency ATMs
    11.6    Value-added Services
12    Competitive Landscape
    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    NCR Corporation
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Diebold Nixdorf, Incorporated
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    FCTI, Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Hitachi Channel Solutions, Corp.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Euronet Worldwide, Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Payment Alliance International
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Prineta LLC
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
       12.2.8    Others
13    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    United States ATM Services Market: Key Industry Highlights, 2018 and 2032
2.    United States ATM Services Historical Market: Breakup by Deployment (USD Million), 2018-2023
3.    United States ATM Services Market Forecast: Breakup by Deployment (USD Million), 2024-2032
4.    United States ATM Services Historical Market: Breakup by Management (USD Million), 2018-2023
5.    United States ATM Services Market Forecast: Breakup by Management (USD Million), 2024-2032
6.    United States ATM Services Historical Market: Breakup by Type (USD Million), 2018-2023
7.    United States ATM Services Market Forecast: Breakup by Type (USD Million), 2024-2032
8.    United States ATM Services Historical Market: Breakup by Application (USD Million), 2018-2023
9.    United States ATM Services Market Forecast: Breakup by Application (USD Million), 2024-2032
10.    United States ATM Services Historical Market: Breakup by Region (USD Million), 2018-2023
11.    United States ATM Services Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    United States ATM Services Market Structure

Key Questions Answered in the Report

In 2023, the United States ATM services market reached an approximate value of USD 7.73 billion.

The market is expected to grow at a CAGR of 2.5% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 9.54 billion by 2032.

ATM manufacturers are developing multi-functional ATMs that can help customers pay bills, transfer funds, exchange currencies, charge mobile phones, and video conference with a live teller.

ATMs conveniently provide access to cash on a 24/7 basis, without the need for a teller or other bank representative.

The major drivers of the market include cash accessibility, a rising number of service providers, cardless transactions, and increased dependency of the population on modern ATMs.

Key trends aiding market expansion include the technological advancement of ATMs, the growing popularity of Bitcoin ATMs, and the widespread availability of ATM services across the country.

The major deployments of ATM services are onsite ATMs, offsite ATMs, work site ATMs, and mobile ATMs.

The major regions include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Key players in the market are NCR Corporation, Diebold Nixdorf, Incorporated, FCTI, Inc., Hitachi Channel Solutions, Corp., Euronet Worldwide, Inc., Prineta LLC, Payment Alliance International, and others.

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