Automated Teller Machine (ATM) Market Size, Share, Trends, Industry Analysis Report: By Deployment Location (Offsite ATM and Onsite ATM), By Functionality, By Service Offering, By End Use, and By Region – Market Forecast, 2025–2034

The global automated teller machine (ATM) market size is expected to reach USD 37.93 billion by 2034, according to a new study by Polaris Market Research. The report “Automated Teller Machine (ATM) Market Size, Share, Trends, Industry Analysis Report: By Deployment Location (Offsite ATM and Onsite ATM), By Functionality, By Service Offering, By End Use, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Automated Teller Machines (ATMs) are self-service banking terminals that allow customers to perform basic financial transactions, such as withdrawing cash, depositing money or checks, transferring funds, and checking balances. The global use of ATMs has grown due to their convenience, especially for easy cash withdrawals, high transaction volumes, and customer satisfaction. Modern ATMs have evolved with advancements in technology, offering more services such as bill payments, real-time transfers, and cheque imaging, all without needing to visit a bank branch. New features such as prepaid card top-ups and mobile wallet cash-ins also help banks earn additional income while engaging customers more effectively.

Cash-recycling ATMs, which accept, verify, and dispense cash, have been particularly beneficial in reducing manual handling and associated costs. These ATMs improve operational efficiency, especially in high-traffic areas, by streamlining cash management for banks. In August 2023, Diebold Nixdorf introduced advanced models, including the DN Series 600V teller cash recycler and DN Series 430V outdoor cash recycler, demonstrating a focus on enhancing cash management. These innovations help banks automate a large percentage of transactions, cut costs, and improve customer service, contributing to the growing ATM market.

To improve access to banking services, financial institutions are playing a vital role by setting up ATMs in rural areas. These ATMs serve essential needs such as payroll payments, government subsidies, and remittances. This effort helps meet the increasing demand for cash withdrawal points and is driving the market growth.

ATM Market Report Highlights

On the basis of deployment location, the automated teller machine market has been bifurcated into offsite ATM and onsite ATM. In 2024, the offsite ATM segment held a larger share of the market revenue due to its strategic placement in high-traffic areas, offering unparalleled convenience and accessibility to users.

Based on functionality, the market has been segmented into cash dispenser ATM, cash recycler, and multi-function ATM (Smart ATM). In 2024, the cash dispenser ATM segment held the largest share of the market due to its widespread use of these machines for basic banking transactions such as cash withdrawals, making them essential in both urban and rural areas. Its low cost and ease of deployment contributed to their extensive presence, especially in regions focusing on financial inclusion.

In 2024, North America held the largest market share, primarily due to advanced banking infrastructure, high demand for self-service banking solutions, and strong technological adoption. The region's financial institutions have long relied on ATMs to provide secure and efficient access to banking services, and this trend continues to grow, driven by customer preference for quick and convenient banking experiences.

The market in Asia Pacific will experience the fastest growth during the forecast period. This growth is driven by region's large unbanked population, high reliance on cash transactions, and rapid economic growth. Countries such as India and China have been at the forefront of ATM deployment to enhance financial inclusion.

A few global key market players are NCR Corporation; Diebold Nixdorf Incorporated; Hitachi Channel Solutions Corporation; Fujitsu Limited; Hyosung TNS Incorporated; GRG Banking Equipment Company Limited; OKI Electric Industry Company Limited; Triton Systems of Delaware LLC; Euronet Worldwide Incorporated; HESS Cash Systems GmbH & Co. KG; Vortex Engineering Private Limited; and Tidel Engineering, LP.

Polaris Market Research has segmented the ATM market report on the basis of deployment location, functionality, service offering, end use, and region:

By Deployment Location Outlook (Revenue, USD Billion, 2020–2034)

Offsite ATM

Onsite ATM

By Functionality Outlook (Revenue, USD Billion, 2020–2034)

Cash Dispenser ATM

Cash Recycler

Multi-Function ATM (Smart ATM)

By Service Offering Outlook (Revenue, USD Billion, 2020–2034)

Deployment Services

Managed Services

Security Services

By End Use Outlook (Revenue, USD Billion, 2020–2034)

Banking & Financial Institutions

Retail Chains & Malls

Transportation & Travel (Airports, Stations)

Corporates & Workplaces

Government & Public Sector

By Regional Outlook (Revenue, USD Billion, 2020–2034)

North America

US

Canada

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America Show more