Cardless ATM Market Poised to Hit $5.2 Billion by 2031 - Transforming the Future of Banking

According to the report published by Allied Market Research, the global cardless atm market garnered $2.0 billion in 2021, and is estimated to generate $5.2 billion by 2031, manifesting a CAGR of 10.6% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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Increase in use of next-generation smart ATMs that can be remotely maintained increases end users' demand for smart devices and is anticipated to support the expansion of the cardless ATM market. For instance, a bank in Russia is preventing ATM fraud by deploying facial recognition with Intel RealSense camera technology.

In addition, it is anticipated that the industry would have plenty of room to develop as a result of the increasing number of ATMs boosting cardless ATM market trends. According to World Bank data, there were 42.6 ATMs per 100,000 persons globally in 2019; this number rose to 51.6 ATMs per 100,000 in 2020. As a result, the market is expected to grow during the forecast period due to the increased integration of IoT devices in ATMs and the surge in number of cardless ATMs.

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The research provides detailed segmentation of the global cardless atm market based on Type, Technology, End User, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the off-site ATM segment held the highest share in 2021, accounting for around half of the global cardless atm market, and is expected to continue its leadership status during the forecast period. However, the others segment is expected to register the highest CAGR of 13.2% from 2022 to 2031.

Based on technology, the near-field communication (NFC) segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global cardless atm market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the Quick Response (QR) Codes segment is expected to manifest the highest CAGR of 13.1% from 2022 to 2031.

Based on end user, the bank and financial institutions segment accounted for the highest share in 2021, holding nearly three-fourths of the global cardless atm market, and is expected to continue its leadership status during the forecast period. However, the independent ATM deployer segment is estimated to grow at the highest CAGR of 13.3% during the forecast period.

Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global cardless atm market share. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 14.3% during the forecast period, and is projected to maintain its dominant share in terms of revenue in 2031.

Leading market players of the global cardless atm market analyzed in the research include Citigroup Inc., JPMorgan Chase & Co., Fujitsu, Santander Group, GRG Banking, NCR Corporation, HSBC Bank A.S., Wells Fargo, Barclays Bank PLC, ICICI Bank Ltd.

The report provides a detailed analysis of these key players of the global cardless atm market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key benefits for stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cardless ATM market forecast from 2021 to 2031 to identify the prevailing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities of cardless ATM market overview.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cardless ATM market segmentation assists to determine the prevailing cardless ATM market opportunity.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cardless ATM market trends, key players, market segments, application areas, and market growth strategies.

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Cardless ATM Market Key Segments:

Type

On-site ATM
Off-site ATM
Others

Technology
Near-field Communication (NFC)
Quick Response (QR) Codes
Biometric Verification

End User
Bank and Financial Institutions
Independent ATM Deployer

By Region
North America  (U.S., Canada)
Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA  (Latin America, Middle East, Africa)

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