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Growth in the UAE ATM Managed Services Market is driven by the banks’ need to cut operating costs, customer’s reliance on cash based transactions, and increase in Card based transactions in ATMs: Ken Research
October 2019

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Continued reliance on cash as the preferred mode of payments, rise in ATM withdrawals due to increase in cards in circulation, innovation in the ATM machines and increase in number of ATMs has driven the ATM Managed Services market.”

Analysts at Ken Research in their latest publication “UAE ATM Managed Services Market Outlook to 2024 – By Off-Site and On-Site ATMs and By Type of Service (Cash Management Services, ATM Maintenance Services and ATM Supply) believe growth in cash circulation in the economy, reliance on cash for all transactions, innovation in ATM Machine technology and software and rising need for banks to outsource ATM management to cut costs and entry of new cash management services companies are some of the factors that will drive the market to register a 0.9% CAGR growth in terms of revenue for the period 2018-2024.

Growth in ATMs: The region witnessed growth in ATMs from 2013 to 2018 at a CAGR of 2.5%, which has driven the rise in managed services revenue. As ATMs are cost centers for banks, since the only revenue they generate is from transactions involving customers of other banks. With CBUAE mandating banks to update ATM operating software, replacement of ATMs and their software will increase revenues associated with these services and their service providers. Demand for innovative ATM machines will also help introduction of new ATM manufacturers.  

Strategic Partnerships: ATM suppliers such as NCR have entered into partnerships and acquisitions such as Alaric and D3 technologies which have helped the company to expand their product portfolio. Transguard has strategic partnerships with both NCR and Diebold Nixdorf. With NCR, the partnership enables the companies to provide end to end management of ATMs for banks and a shift from traditional Capex to Opex model. Transguard is also a licensed distributor of Diebold Nixdorf ATM machines, and also provides end to end management services to banks. This way Transguard has become a one stop solution for all ATM related services.  

Rise in ATM Withdrawals: The region has witnessed a growth in ATM withdrawal both in terms of transaction value and volume for the review period 2013-2018 at a CAGR of 5.5% and 8.3% respectively. This can be attributed to rise in debit and credit cards issued during the period. As of 2018, the region has nearly 10 million debit cards and 8.5 million credit cards in circulation. The total cards in circulation in UAE have grown in the period 2013-2018 at a CAGR of 8.2%. Types of cards include prepaid cards, credit and debit cards and charge cards. The Central Bank of UAE mandated in 2012 for the use of EMV type cards, which has helped the adoption of these cards by banks in UAE.

Keywords:

UAE ATM Service Market                        

UAE ATM Managed Services Market

UAE Cash Management Service Market

UAE Cash Replenishment Market

UAE Cash-in-transit Market                            

UAE Cash Processing Market

UAE ATM Maintenance Market

UAE ATM Repair & Maintenance Market

UAE Second Line Maintenance Market

UAE ATM Managed Service Market Revenue

UAE ATM Revenue

ATM Growth Opportunities in UAE

ATM Managed Service Providers UAE

Cash Management Companies

Number of ATMs in UAE

On-site ATMs in UAE

Off-site ATMs in UAE

Mobile ATMs in UAE

Cash Dispensers in UAE

Cash Recyclers in UAE

ATM Industry UAE

UAE ATM Revenue

UAE ATM Expenses

UAE ATM investment

UAE ATM Managed Service Segment Revenue

UAE ATM Managed Service Market Analysis

UAE Cash Management Service Market Analysis

ATM Vendors in UAE

ATM sellers in UAE

ATMs sold in UAE in 2018

ATMs managed by managed service providers in UAE

Cash management companies in UAE

Cash-in-transit companies in UAE

UAE ATM managed service outsourcing

ATM outsourced by Banks in UAE

ATMs outsourced by NCB Bank in UAE

ATMs outsourced by Riyadh Bank

UAE ATM Contract

UAE ATM cards

UAE ATM Industry Growing

UAE ATM Competition

ATM Managed Service Trends

ATM Managed Service Growth Drivers

Challenges UAE ATM Managed Service

Regulations UAE ATM Managed Service

Competition in UAE ATM Managed Service

Major ATM Suppliers UAE ATM

Profiles of Major Managed Service Providers UAE

Profiles of Cash Management Companies Providers UAE

UAE ATM Managed Service Future

UAE ATM Forecast

Success Factors UAE ATM Managed Services

Investment in ATM in UAE

Transguard Cash Replenishment Revenue UAE

NCR Market Share UAE

Diebold Nixdorf Market Share UAE

NCR ATM Sales UAE

Diebold Nixdorf Market Share UAE

Key Segments Covered

By Location of ATM

On-Site

Off-Site

By Type of Services

Cash Management Services

ATM Maintenance Services

ATM Supply

Key Target Audience

Banking and Financial Services Companies

Investors and Venture Capital Firms

Technology Service Providers

Government Entities

Cash Management Companies

ATM Machine Manufacturers

Time Period Captured in the Report:

Historical Period: 2013 -2018

Forecast Period: 2018-2024

Companies Covered:

Transguard

NCR Corporation

Diebold Nixdorf

Key Topics Covered in the Report

UAE ATM Managed Services Market Introduction

Market Ecosystem of UAE ATM Managed Services Industry, 2018

Value Chain Analysis of UAE ATM Managed Services Industry

UAE ATM Managed Services Market by Revenues, 2013-2018

UAE ATM Managed Services Market Segmentation, 2018

Major Cost Components and Profitability Analysis of ATMs in UAE, 2018

Issues and Challenges in UAE ATM Managed Services Industry

Trends and Development in UAE ATM Managed Services Industry

Regulations in the UAE ATM Managed Services Industry

Snapshot of UAE ATM Supply Market, 2018

Company Profiles of Major Players in UAE ATM Managed Services Market

UAE ATM Managed Services Future Market Outlook and Projections, 2018-2024

Analyst Recommendations

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

UAE ATM Managed Services Market

Related Reports

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)

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

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Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249



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