Saudi Arabian ATM Managed Service Market is Driven by Rising demand for ATM Site Monitoring and ATM Repair & Maintenance Services: Ken Research

Analysts at Ken Research in their latest publication “Saudi Arabia ATM Managed Service Market Outlook to 2023 – By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others – Cash Processing, Cash Vaulting, Cash Reconciliation & Cash Forecasting)” believes that an increase in   number of ATMs, Adoption of cards by the people and Increase in number of ATMs outsourced by Bank would surge the overall revenue generated in Saudi Arabia ATM Managed Services Market. The market has witnessed a positive CAGR of close to 5% in terms of revenue generated from ATM managed services, during the review period 2013-2018.

Saudi Arabia ATM Managed Service Market Research Report

Increase in number of ATMs, increasing number of cards in the economy, rising bank’s demand for outsourcing managed service and entry of global players in the market will be the key factors driving growth in Saudi Arabia ATM Managed Service Market.

Rise in the Number of ATMs in Saudi Arabia: Saudi Arabia ATM Managed Service Market has witnessed strong growth in ATM Managed services owing to increase in number of ATMs. During the review period 2013 to 2018 number of ATMs in the Kingdom has increased at a CAGR of close to 6%. Companies are offering advanced, non–traditional and self service options to customers for cash withdrawals from ATMs. The introduction of new breed of ATM machines such as cash recyclers, multifunctional ATMs touch screen ATMs, biometric ATMs in the market will ensure more transactions in an ATM as these machines provide a bunch of services apart from cash withdrawal including cash deposit, updating passbook, statement enquiry, bill payment and others. Increase in number of transactions will have a positive impact on revenues of managed service providers.

Promotion of Financial Inclusion by SAMA: It is expected that robust initiatives taken towards financial inclusion in Saudi Arabia will have a positive impact on number of transactions in Saudi Arabia.  SAMA has already set an upper limit on charges and commissions that banks apply when providing products & services. In addition to this, there are no additional charges borne by the customer while making any withdrawal transactions from an ATM. Such initiatives promote the accessibility & usability of cards in the economy.

Players operating in the ATM managed Service Market have consistently adopted innovative strategies in order to gain a competitive advantage. Companies have started to expand their product portfolio by providing a wide range of value added services to the new and existing customers. The managed service providers are focusing on increasing the number of ATMs they are managing in the Kingdom by offering quick response time, technological advancements in their offerings and more flexibility in terms of pricing.

Keywords

KSA ATM Market Research Report

Saudi Arabia ATM Service Market

Saudi Arabia ATM Managed Services Market

Saudi Arabia ATM Cash Management Service Market

Saudi Arabia ATM Cash Replenishment Market

Saudi Arabia ATM Maintenance Market

Saudi Arabia ATM Repair & Maintenance Market

Saudi Arabia ATM Managed Service Market Revenue

Saudi Arabia ATM Managed Service Providers

Saudi Arabia ATM Cash Management Companies

Saudi Arabia ATM Industry Research Report

Saudi Arabia ATM Managed Service Segment Revenue

Saudi Arabia ATM Managed Service Market Analysis

Saudi Arabia Cash Management Service Market Analysis

ATMs managed by managed service providers in Saudi Arabia

ATM Cash management companies in Saudi Arabia

Saudi Arabia ATM managed service outsourcing

Saudi Arabia ATM Industry Growing

Saudi Arabia ATM Managed Service Future

Saudi Arabia ATM Forecast

Key Segments Covered in Saudi Arabia ATM Managed Service Market

By Type of ATMs (On the basis of Number of ATMs)

On-Site ATMs

Off-Site ATMs

Mobile ATMs

By Service Offerings (On the basis of Revenue)

Cash Management Services

ATM Repair & Maintenance

ATM Site Maintenance

By Type of ATM Machine (on the basis of Number of Machines)

Cash Dispensers

Cash Recyclers

By Service offerings of Cash Management Companies (On the basis of Revenue)

Cash Replenishment Service

Cash-in-Transit

Other cash management services including cash processing, cash vaulting, cash reconciliation & cash forecasting

Key Target Audience

Managed Service Providers

Major ATM Suppliers / Vendors

Cash Management Companies

Banks

Saudi Arabian Monetary Authority (SAMA)

Investors

Facility Management Companies

Time Period Captured in the Report:

Historical Period – 2013-2018

Forecast Period – 2019-2023

Companies Covered:

Abana

Abu-Sarhad

Hamrani

 NCR

Hyosung

Sanid

 Hemaia Group

G4S Almajal

AMNCO

For more information on the research report, refer to below link:-

Saudi Arabia ATM Managed Service Market

Related Reports:-

India ATM Cash Management Market Forecast to 2023 – ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing

India ATM Market Outlook to 2023 – By ATM Supply, Managed Services (ATM Repair, Maintenance and Other Services, Transaction Processing, Cash Reconciliation Statement, Content and Electronic Journal Management) & Cash Management (ATM Replenishment, CIT, CPD)

India ATM Industry Outlook to 2018 – Increasing Penetration of White Label ATMs to Intensify Growth

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