Rapid development of banks and financial institutions in the emerging markets of China, India and Brazil signify exceptional growth in the automated teller machine (ATM) markets, according to new research from Frost & Sullivan.
New technologies as well as customer-friendly applications including mobile top-up, ticketing and bill payment will increase ATM transaction volumes. Frost & Sullivan said world ATM markets earned revenue of $2.21 billion in 2005 and estimated revenue of $2.88 billion in 2010.
The company said vendors are focusing on manufacturing ATMs locally in these regions to maximize customer service, address cost concerns and gain a superior understanding of local market dynamics. For example, NCR Corporation has production facilities in both China and India, as there is huge potential to be tapped.
