Middle East & Africa ATM Outsourcing Services Market 5-year (2020–2025) Cumulative Revenue Is projected to be over $594.7 Mn

ATM outsourcing is a business process delegation to a partner under the conditions defined in advance. ATM outsourcing includes the following: ATM renting, hardware & software maintenance, ATM monitoring & reporting, as well as ATM lifecycle management.

The Middle East & Africa ATM Outsourcing Services Market was valued at USD $498.9 Мn in 2020, and is projected to achieve a valuation of USD $691.3 Мn by 2030, at a CAGR of 3.8%. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $594.7 Mn, and is estimated to increase substantially over the latter part of the forecast period.

The increasing prominence of various financial institutions in these given regions owing to steady increases in urbanization & globalization levels is a major factor that is slated to have a significant impact on the revenue growth of the Middle East & Africa ATM Outsourcing Services Market over the next 10 years. Moreover, the steady increase in the disposable incomes of individuals living in this region is also a major factor that is anticipated to further contribute to the proliferation of this sector in the years to come. Furthermore, the steady adoption of credit and debit card usage by individuals here, as well as the introduction of technologically innovative ATM machines that prevent skimming, and are equipped with facial recognition software, etc., are also slated to have a profound influence on the projected market growth of the Middle East & Africa ATM outsourcing services industry, and is anticipated to further augment the overall market footprint of this global sector.

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However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The Middle East & Africa ATM outsourcing services market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry. Additionally, the higher costs of operations that must be borne by respective banks in the region in order to manage various ATM outsourcing services is also a factor that may hinder the revenue growth of the Middle East & Africa ATM outsourcing services market in the near future.

Nevertheless, the incorporation of various technological innovations such as additional built-in cameras, facial recognition software, skimming devices protection safeguards, etc., by the key market players operating in this region is another major factor that is expected to improved usage rates, thereby fueling revenue growth for this market in the coming years.

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Segmentation of the Middle East & Africa ATM Outsourcing Services Market is as follows:

In terms of process, the ATM full outsourcing segment accounted for the maximum number of revenue shares of the Middle East & Africa ATM outsourcing services market in 2020, and this segment is expected to continue doing so over the next decade. The ATM operation outsourcing segment is also anticipated to index a high CAGR over the forecast period.

On the basis of application, the off-bank mode segment accounted for the maximum number of revenue shares of the Middle East & Africa ATM outsourcing services market in 2020, and this segment is slated to continue doing so over the next 10 years. The in-bank mode segment is also anticipated to register a high CAGR over the forecast period.

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Key Players: Hitachi Ltd, G4S Plc, NCR Corporation, Hyosung Corporation, Euronet Worldwide Inc., Arabian Security & Safety Services Company Ltd., Transguard Group LLC, Alhamrani Universal (AU), Network International Holdings Plc (Emirates NBD Group Company), APSG Group, ABANA Enterprises Group Co., Saudi Financial Support Services Company (SANID)

Regional Segmentation and Analysis:

The rest of MEA segment accounted for the maximum number of revenue shares of the Middle East & Africa ATM outsourcing services market in 2020, and is indicative of retaining its respective market position over the next decade. The market in UAE is also anticipated to index a high CAGR over the course of the forecast period.