Intelligent Cash Deposit Machine Market
Market Insights on Intelligent Cash Deposit Machine covering sales outlook, demand forecast & up-to-date key trends
Intelligent Cash Deposit Machine Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 - 2028
Intelligent Cash Deposit Machine Market Overview
Rising preference for card-less ATM transactions is the prominent factor driving the growth of the intelligent cash deposit machine market. Financial institutions and individual ATM deplorers are continuously focusing on upgrading their ATM infrastructure to enhance security and convenience and deliver a personalized seamless banking experience to its customers by introducing card-less ATM transactional functionalities such as One-Time Access Code and biometric authentication, and intelligent cash deposit machines.
Furthermore, rise in the number of bank accounts, increasing investments towards expansion of banking network and rise in the number of foreign investments in the banking sector are the potential growth factors expected to surge the demand for intelligent cash deposit machines.
With a rise in cyber-security threats across various components of the banking system, service providers are focusing on developing and expanding the number of intelligent cash deposit machines with enhance security functionalities to protect their banking network from various types of cyber-attacks.
Intelligent cash deposit machines are cash deposit systems that automate cash deposit transactions by counting, identifying, sorting and saving without any human interference.
They streamline the procedure of cash depositing, improve service efficiency and increase the productivity of retail staff. Some of the features of intelligent cash deposit machines include safety, automated cash reconciliation, instant access to all deposit information & management reporting and reduction in cast-in-transit related costs.
These factors are creating potential growth opportunities for the intelligent cash deposit machine market.
Global Intelligent Cash Deposit Machine Market: Drivers and Challenges
Digitalization in the banking industry is driving the growth of the intelligent cash deposit machine market. Also, the rising focus of financial service providers on delivering more functionalities to consumers through the ATM channel by deploying automated deposit ATMs with intelligent deposit and cash recycling technology in order to improve customer satisfaction is another major factor driving the growth of the market.
Moreover, the increasing focus of financial organizations to increase the reach of intelligent cash deposit machines in rural and remote corners of countries in regions such as Asia Pacific and MEA is fuelling the growth of the intelligent cash deposit machine market.
Apart from this, economic development in regions such as the Middle East & Africa and Asia Pacific and the growth and investment in the banking sectors of various countries are creating potential growth opportunities for the intelligent cash deposit machine market.
The high maintenance cost of intelligent cash deposit machines hinders the growth of the intelligent cash deposit machine market. Also, the rising customer preference for non-cash payments such as mobile payments, e-commerce payments, and online bill payments and expanding digital banking solutions reduce the need for cash in various regions around the globe.
Moreover, the rising trend of UPI payments, and money transfer applications hampers the growth of the intelligent cash deposit machine market.
Global Intelligent Cash Deposit Machine Market: Competition Landscape
Some of the prominent players in the intelligent cash deposit machine market include NCR Corporation, Dibold Nixdorf, Hitachi-Omron Terminal Solutions, Corporation, GRG Banking, Fujitsu Frontech Ltd., Triton Systems of Delaware LLC, Nautilus Hyosung Corp., HESS Cash Systems GmbH & Co. KG, and Oki Electric Industry Co., Ltd.
Global Intelligent Cash Deposit Machine Market: Regional Overview
On the basis of geographical presence, North America is anticipated to capture the largest market share, owing to the well developed and established banking and financial organizations and presence of various intelligent cash deposit machine manufacturers in the region.
Europe and APAC are also expected to gain substantial market shares due to rapid infrastructural development and an increase in the number of ATMs and penetration of cash deposit machines in the region.
Further, APAC is expected to be the fastest growing intelligent cash deposit machine market, owing to the government initiatives taken towards the improvement of the banking sector by emerging economies such as India, China, and Japan.
The intelligent cash deposit machine markets in Latin America and MEA are also expected to witness high growth rates in the coming period due to the rise in digital technologies and increasing adoption of advanced banking solutions in the region.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Intelligent Cash Deposit Machine Market: Segmentation
Segmentation of the intelligent cash deposit machine market on the basis of screen size:
- 15” and below
- Above 15”
Segmentation of the intelligent cash deposit machine market on the basis of type:
- Off-site intelligent cash deposit machine
- On-site intelligent cash deposit machine