The rising earnings and economic growth of emerging nations are propelling the growth of the Multivendor ATM Software market in the APAC Region!

The multivendor ATM software market in the Asia Pacific region is going to grow at a significant CAGR during the forecasted period. Owing to the rising per capita GDP of the countries in the Asia Pacific, improving their standard of living and increasing discretionary income of people, driving the overall consumption of the country, increasing banking activity and cash requirements as it is still the most preferred mode of transaction, especially in the rural economy which accounts for the majority of the portion in these regions. Furthermore, the growth of the informal economy such as SMEs and MSMEs is significantly elevating cash usage. Additionally, drifting to Multi-vendor ATM software (MVS) from traditional OEM software allows smooth remote security updates by banks through the cloud. MVS enables banks to market personalized as well as new products to customers across its ATM network in a flexible and fast manner thereby making ATMs a critical component of a bank’s digital strategy and can also be seen by the innovations that is happening in this area. For instance, on August 2021, RBP (Rural Banking Programme) Finivis Pvt. Ltd launched a self-service Mego ATM which is equipped with a micro ATM device that enables cash withdrawals and deposits. The Mego ATM is also installed with AEPS bio metric where one can check their balance and transfer money directly from one source to another. This is an innovation under the PMJD Yojna and Atma Nirbhar Bharat Yojna, an initiative by the RBI which has allowed white-label ATMs to Fintechs.

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The multivendor ATM software market is expected to grow at a significant CAGR of around 20% during the forecast period.APAC is anticipated to emerge as the fastest-growing multivendor ATM software market primarily owing to the increasing economic activities, increasing rural income where cash is the most preferred mode of transaction, and rapid economic growth with public-private partnerships.

FIG. 1 APAC Multivendor ATM Software Market Revenue (2020-2030)- USD Mn

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“Amongst component types, the software segment held a dominating share of the market”

Based on component type, the market is bifurcated into software and services. Out of the two, the software segment holds a significant market share. The market is mainly driven by the fact that banks and financial institutions are deriving great value from operating a multivendor ATM software and hardware ecosystem which is benefitting them with cost savings, as a single integrated system is easier to maintain and scale than multiple separate applications.

Based on end users, the market is bifurcated into Banking & Financial Institutions and Independent ATM deployers. Among the two, independent ATM deployers (brown-label ATMs and white-label ATMs) are going to grow at a significant CAGR during the forecasted period. The market is mainly driven by the fact that banks are shifting their operations from the capex model to the opex model to run their ATMs, where third parties install and manage ATMs of the bank and are paid for each transaction, releasing the banks from the trouble of going through site selection, buying the ATM machines, and managing them on daily basis which happens in the capex model, increasing their focus on growth and core banking operations.

Global Multivendor ATM Software Market Segmentation

Market Insight, by Component Type

• Software
• Service

Market Insights, by End User

• Banking & Financial Institutions
• Independent ATM deployer

Market Insights, by Function Type

• Bill Payment
• Card Payment
• Cash/Cheque dispenser
• Passbook printer
• Others

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
• Rest of the World

Top Company Profiles

• CMS
• KAL ATM Software GmbH
• Auriga Spa
• Hyosung Global
• NCR Corporation
• Hexaon Business Mitrasindo
• Diebold Nixdorf
• ZOOM CyberSense
• Clydestone Group
• Printec Group