ATM Managed Services Market Size, Share & Industry Analysis, By Service Type (ATM Site Management, Cash Management Services, ATM Supply, Transaction Processing, ATM Repair and Maintenance, Cash Reconciliation Statement, and Content and Electronic General Management), By ATM Location (Offsite ATM, Onsite ATM, Worksite ATM, and Mobile ATM), By End User (Banks and Financial Institutions, Independent ATM Deployers, Retailers, and Others), and Regional Forecast, 2025-2032

The global ATM managed services market size was valued at USD 8.41 billion in 2024. The market is projected to grow from USD 9.04 billion in 2025 to USD 16.78 billion by 2032, exhibiting a CAGR of 9.2% during the forecast period. Asia Pacific dominated the market with a share of 38.76% in 2024.

ATM managed services include all the services related to end-to-end management of ATM, such as product development, product deployment, and other asset management services. In addition, it also comprises services such as ATM site management, ATM supply, cash management services, currency management, cash reconciliation statements, and transaction processing statements. This service model allows banks and financial institutions to focus on their core business activities while the service providers handle several aspects, including ATM management. The market caters to improving the reliability on the ATM network and reducing the management overhead.

GLOBAL ATM MANAGED SERVICES MARKET OVERVIEW

Market Size:

• 2024 Value: USD 8.41 Billion
• 2032 Forecast Value: USD 16.78 Billion
• Forecast CAGR: 9.2% from 2024 to 2032

Market Share:

• Regional Leader: North America held the leading share in 2024
• Fastest‑Growing Region: Asia Pacific is projected to grow at the highest rate over the forecast period
• Service-Type Leader: ATM site management segment is expected to dominate the market through the forecast period

Industry Trends:

• Banks are increasingly outsourcing ATM operations including monitoring, replenishment, and maintenance to specialized service providers
• Advanced ATM services like incident resolution, security upgrades, and technical support are being managed externally
• Shift toward comprehensive managed models to improve uptime, compliance, and customer experience

Driving Factors:

• Rising adoption of digital payments and higher volume of ATM transactions necessitating reliable uptime and service
• Financial institutions outsourcing non-core ATM operations to reduce costs and focus on core banking services
• Increasing investment in infrastructure for ATM modernization, including contactless and self-service features
• Growing regulatory requirements around security and compliance driving adoption of managed service models
• Expansion of ATM networks into underserved and remote areas boosting demand for outsourced services

A rising trend of outsourcing managed services in several banks, such as ICICI, HDFC, and AXIS Bank, among others, increases the demand for ATM managed services. In addition, the rising number of ATMs across the globe that increases demand for managed services for running ATM operations smoothly, fuels the growth of the market. Moreover, growing security concerns and a rise in fraud activities and cyber threats in the banking sector also boost the growth of the market. Moreover, the increasing trend of globalization and cashless transactions globally bolstered the market growth. The rising demand for ATM branding, marketing, customer engagement, and ATM administration services also drives the growth of the market.

The COVID-19 pandemic had a positive impact on the market owing to an initial surge in cash withdrawals due to economic uncertainty; customers focused on cashless transactions, social distancing measures around ATM kiosks, and enhanced cleaning protocols required for ATM centers. Additionally, there is a rising focus on implementing digital banking ecosystems over ATM centers, which is driving the market growth after the COVID-19 pandemic.

IMPACT OF TARIFFS

Owing to U.S. tariffs there is an increasing cost of imported ATM hardware components, such as ATMs, cash recyclers, spare parts, and sensors across the globe. Additionally, banks and financial institutions may delay ATM upgrades and short decline in the demand for ATM centers, which influences small regional banks with tight financial budgets. Also, U.S. tariffs impacted small as well as medium-level banks with reduced margins, slower equipment refresh cycles, and a shift toward strategic sourcing. Additionally, tariffs often lead to supplier shifts, which can cause increased logistics complexity and delays in equipment adoption across different banking operations. These factors related to U.S. tariffs impacted the market.

MARKET DYNAMICS

ATM Managed Services Market Trends

Digital Intelligence and Outsourcing Efficiency in ATM Centers to Bolster the Market Growth

Banks and financial institutes are outsourcing ATM operations, including installation, cash management, and specialized managed service providers, owing to factors such as cost optimization, specialized technical skills, and compliance burdens. Additionally, to avoid ATM transaction-related fraud, managed service providers are implementing biometric verification, end-to-end encryption, threat detection systems, and anti-skimming devices. Moreover, the rising adoption of cash recycling technology to automate deposit and withdrawal functions using the same cash increases operational efficiency. It reduces cash availability, which fuels the ATM managed services market growth.

Market Drivers

Rising Count of ATM Deployments in Developing and Developed Economies to Trigger the Market Growth

A rising number of ATM installations in the Asia Pacific, North America, and South America regions raises the demand for ATM managed services for efficient ATM operation. Moreover, financial initiatives in rural and urban premises, bank financials outsourcing non-core ATM operations to reduce operational costs, and local authorities mandates for the availability of ATM in rural areas, cater to a rise in the demand for managed services. For instance, according to sources of the Bank for International Settlements, the ATM count in South Korea increased by 4% from 2015- 2023. Hence, the growth in the ATM count contributes positively to the global ATM managed services market share.

Market Restraints

Growing Customer Focus Toward Digital and Cashless Payments Restricts the Market Growth

A rising adoption of QR-based payments, mobile wallets, and instant bank transfer services reduces the dependency on cash availability. Moreover, consumers focus on adopting digital payment channels for speed, convenience, and safety purposes, which results in a decline in the demand for ATMs globally. Moreover, lower footfalls at ATMs lead to a decrease in transaction volumes, reducing the ROI for banks and ATM service providers. Moreover, government and local authorities promote the adoption of cashless economies to increase transparency, boost tax compliance, and reduce the proportion of black money. These factors collectively restrict the market growth.

Market Opportunities

Adoption of Smart and Multifunctional ATM Provides Profitable Opportunity for Market Growth

ATMs are evolving into banking kiosks to offer services such as loan applications, bill payments, video banking, and biometric authentication services. Different managing service providers offer value-added services such as software upgradation and remote management services for these smart ATMs. Moreover, major players such as Hitachi Payment Services Pvt Ltd, Diebold Nixdorf, and others are engaged in introducing new smart ATMs into the market. For instance, in September 2023, Hitachi Payment Services Pvt Ltd launched a new smart ATM into the market. It offers advanced features such as UPI-ATM-enabled services and the capability of cardless cash withdrawal—these advancements in ATM management fuel market growth.

SEGMENTATION ANALYSIS

By Service Type

ATM Site Management Leads Owing to Rising Demand from Retail Centers and Transportation Hubs

Based on service type, the market is classified into ATM site management, cash management services, ATM supply, transaction processing, ATM repair and maintenance, cash reconciliation statement, and content and electronic general management.

ATM site management dominates the market in terms of revenue, market share and is projected to grow at a substantial rate during the forecast period. This is owing to its increasing deployment in retail centers, hospitality, and transportation hubs. In addition, these type of services are largely adopted to maximize ATM profitability and enhance customer experience during cash activity.

Cash management services, ATM supply, and transaction processing are projected to grow at a steady rate during the forecast period, owing to factors such as the rising penetration rate of smart ATMs and the growing demand for contactless transaction capabilities. These factors, along with the enhancing demand for ATM managed services, fuel the segmental growth.

ATM repair and maintenance, and cash reconciliation services are projected to grow at a moderate growth rate owing to factors such as rising technological complexity demanding specialized expertise, growing adoption of value-added banking and consulting services, and growing scrutiny of cash handling processes.

Content and electronic general management services observed a moderate growth rate during the forecast period, owing to factors such as improving customer experiences and minimizing the downtime required for efficient ATM operation.

By ATM Location

Offsite ATM Dominated the Market Owing to Rising ATM Deployment in Airports and Shopping Malls

Based on the ATM location, the market is divided into offsite ATM, onsite ATM, worksite ATM, and mobile ATM. 

Offsite ATMs dominated the market in terms of revenue market share in 2024, owing to factors such as the rising installation of ATMs in shopping malls, transit stations, and retail centers. Additionally, extensive deployment network, higher transaction volumes, and large revenue contributors owing to interchange and surcharge fees drive the segmental growth.

Onsite ATM and worksite ATM are projected to grow at a steady rate as it is largely installed in commercial offices, industrial facilities, institutional campuses, and large employment centers. Moreover, it offers features such as maintaining customer convenience and increasing productivity, and also enhances security during ATM operation.

Mobile ATM is anticipated to grow at a substantial rate during the forecast period, owing to factors such as its growing installation in events, disaster response, and temporary arrangements. It registered high growth in a smaller installed base, and tech tech-advanced model that uses ATM as a service.

By End User

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Banks and Financial Institutions Dominates the Market Due to outsourcing of ATM operations

Based on end user, the market is classified into banks and financial Institutions, independent ATM deployers, retailers, and others (Government Agencies).

Banks and financial institutions dominated the market in terms of revenue market share in 2024 and are projected to grow at the highest growth rate during the forecast period. This is due to the outsourcing of ATM operations, which reduces the cost burden of managing cash reconciliation and maintenance costs. Moreover, banks and financial institutes have opted to choose managed services for running ATM operations smoothly and effectively, which fuels the segmental growth.

Independent ATM deployers and retailers are projected to grow steadily during the forecast period, due to factors such as reduced need for in-house maintenance, lower operational costs, and effective cash handling capability. In addition, these end users have the capability of multi-bank deposits, thus increasing the market presence and driving the market growth.

The other segment consists of government agencies. It is projected to grow at a moderate rate owing to the mandating of ATM expansion in rural areas by governments in emerging economies, which increases the demand for managed services to maintain and run ATM operations smoothly.

ATM MANAGED SERVICES MARKET REGIONAL OUTLOOK

The market covers five major regions, mainly North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Asia Pacific

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The Asia Pacific region dominated the market in terms of revenue in 2024, owing to factors such as urbanization, growing financial initiatives, and increasing security demand in ATM operations. Moreover, the rising count of ATMs and growing adoption of offsite and multifunctional ATMs enhance the demand for managed services, bolstering the regional market growth. In addition, banks and financial institutes heavily invest in security and ongoing surveillance to safeguard ATM operations.

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China to Dominate the Market Owing to Rising Deployment of ATMs in Retail and Hospitality Sectors

China leads the Asia Pacific market due to factors including the rising number of ATMs in retail, hospitality, and industrial facilities. In addition, the rising adoption of QR codes, NFC, and online bill payments requires specialized management services to bolster market growth in the country. Moreover, the rising preference for 24/7 access in urban centers fuels ATM installation, driving the market growth.

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Europe

The European market is expected to grow steadily during the forecast period owing to rising physical ATM attack cases and cyber threats in Germany, the U.K., Italy, and other European nations. Moreover, the rising trend of banks outsourcing these services to reduce operation expenses and focus on digital banking surges the demand for ATM managed services. 

North America

North America is projected to grow at a potential growth rate during the forecast period, owing to factors such as rising security concerns about card trapping, malware attacks, and ATM skimming applications. In the U.S., the rising bank investment in the expansion of new ATM centers across retail, commercial, and convenience stores creates the demand for ATM services. For instance, in April 2025, 7-Eleven, a convenience store chain, signed a collaboration agreement with NCR Atleos Corp, dealing in ATM and financial technological solutions. The agreement was made to install around 4,000 ATMs at convenience stores. These factors drive the growth of the market across the region.

Middle East & Africa

The Middle East & Africa region is projected to grow moderately during the forecast period, owing to the growing urban population and rising demand for convenience stores and commercial shops. This creates the demand for ATM managed services for effective and sustainable management in ATM operations.

South America

South America is anticipated to grow decently due to rising urbanization, financial inclusion initiatives, and increasing adoption of emerging technologies such as AI, IoT, and blockchain, which improve the banking and financial services. Also, rising high inflation rates and the need for effective cash management across Brazil, Chile, and Argentina create the demand for ATM managed services across the region.

COMPETITIVE LANDSCAPE

KEY INDUSTRY PLAYERS

Major Players Focus on Adoption of Collaboration and Acquisition as Developmental Strategies to Strengthen their Banking Managed Services

Key players, including AGS Transact Technologies Ltd, NCR Atleos Corporation, and Euronet Worldwide Inc., among others, are engaged in adopting collaboration, agreement, and acquisition as key developmental strategies to boost their market presence. For instance, in February 2025, NCR Atleos Corporation signed a collaboration with Renasant Bank to provide ATM and management software. The collaboration was done for around USD 17.5 billion. The basic aim of this collaboration was to provide back-office complexities and expand the services across multiple banks.

Long List of Companies Studied (including but not limited to)

• AGS Transact Technologies Ltd (India)
• NCR Atleos Corporation (Cardtronics Inc) (U.S.)
• Diebold Nixdorf Incorporates (U.S.)
• Euronet Worldwide Inc (U.S.)
• Financial Software & Systems Pvt Ltd (India)
• Fiserv Inc (U.S.)
• Hitachi Payment Services Pvt Ltd (India)
• CMS Info Systems Ltd (India)
• Cennox (U.K.)
• Brinks Incorporated (U.S.)
• Tecnocom (Spain)
• YourCash (U.K.)
• Grupo Datco (Mexico)
• Itautec (Brazil)
• DC Payments (Australia)
• Perto (Singapore)
• Co-op Financial Services (U.S.)
• Allpoint Network (U.S.)
• KAL (U.S.)
• G4S Cash Solutions (U.K.)

KEY INDUSTRY DEVELOPMENTS

• November 2024: NCR Atleos Corporation signed a collaboration with Waitrose Supermarkets across the U.K. The basic aim of collaboration was to improve the improving the network of ATM services.
• September 2024: Brinks Incorporated signed a partnership with Sainsbury Bank, based in the U.K. deals in supermarket chains. The partnership was done by the deal name NoteMachine. The basic aim of the partnership was to provide services such as transaction processing, maintenance, remote monitoring, and service atm replenishment.
• April 2024: Euronet Worldwide Inc acquired Swedbank, based in Sweden deals in providing ATM outsourcing and ATM managed services. The main aim of the acquisition was to improve the service portfolio of the company.
• January 2024: Hitachi Payment Services Pvt Ltd acquired Writer Corporation, based in India, which deals in cash replenishment services for ATM centers. After the acquisition, the company was renamed as Hitachi Cash Management Services. The basic aim of the acquisition was to improve the geographical presence and service footprint of the company.
• October 2023: Diebold Nixdorf signed a contract agreement with TransFund, a U.S. deals in ATM service provider. The agreement was for around five years. This contract agreement was made for providing services such as remote monitoring, event management services, and ATM site management services.  

REPORT COVERAGE

The global such market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, service type, ATM location, end user, and by region. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years. 

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Report Scope and Segmentation