The report titled “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)” provides a comprehensive
analysis on the ATM managed services industry of UAE. The report covers various
aspects including market overview, value chain and ecosystem analysis, market
evolution, market segmentation by location of ATM i.e. off-site and on-site
ATMs and by the type of service i.e. cash management services, ATM maintenance
services and ATM supply services. The report also includes trends and
developments, challenges, major cost components and profitability analysis of
ATMs in UAE, Regulatory framework and Snapshot on UAE ATM supply market.
Competition landscape includes market share on major ATM suppliers on the basis
of revenue and their company profiles. The report concludes with future
projections in the UAE ATM Managed services space and analysts recommendations
for the same.
UAE ATM Managed Services
Market Overview and Size
The UAE ATM managed services market was observed to be
operating at its growth stage, approaching maturity as banks and ATM managed
services companies begin investing in innovative technology to automate their
services. The market is expected to increase in size due to increase in cash
management services market. Banks in UAE have taken various steps in order to
reduce overall costs of operations. Apart from outsourcing management of the
ATMs, banks have begun reducing their commercial footprint by closing down
branches, merging with other banks and investment in technology based services
to reduce reliance on ATMs for customer services.
UAE ATM Managed Services
Market Segmentation
By Location of ATM (Off-Site
and On-Site)
Off-Site ATMs are installed in location where there are no
branches such as hospitals, malls and airports among others. The segment
dominated in the UAE during 2018. Additionally, the management of off-site ATMs
is completely outsourced to the cash management companies. On-site ATMs on the
other hand, are located near bank branches, electronic service units and
representative offices. For these ATMs, cash management services and ATM
maintenance services are outsourced while security and surveillance services
are managed by the banks themselves.
By Type of Service (Cash
Management Services, ATM Maintenance Services and ATM Supply)
The market was dominated by cash management services for the
period 2013-2018. Banks outsource cash management services to Transguard or
manage it themselves for on-site ATMs. Cash management services include cash in
transit and other cash services. Cash in Transit market includes cash
replenishment and transportation of cash between bank branches, central bank
and between corporate or retail outlets with cash handling centers. Cash in Transit
services were seen to dominate the ATM services market as these services
require fleet of armored vehicles and vans and require experienced manpower.
ATM maintenance services included hardware, software and currency template
management of three types of ATM machines namely cash dispensers, cash
recyclers and cash in cash out machines. The market for ATM maintenance was
observed to decline in the period 2013-2018 due to improvement in technology
and competition between banks to provide low cost services. Hardware
maintenance includes First, Second Line Maintenance and Breakdown Maintenance
and software maintenance includes monthly or quarterly check up of ATM
operating software.
Comparative
Landscape in UAE ATM Managed Services Market
Competition stage within UAE ATM managed
services market was observed to be highly concentrated between three major
companies. For cash management services, Transguard has a monopoly while
Brink’s has just started to enter the market with a small market share.
Transguard acquired its competitor G4S in 2018 to become the market leader in
cash management and security services. Also, Transguard handles a massive
proportion of cash in circulation in the UAE while the remaining is handled by
banks. Lastly, competition with ATM supply market of the UAE was also seen to
be highly concentrated between 2 companies namely NCR Corporation and Diebold
Nixdorf.
UAE ATM
Managed Services Market Future Outlook and Projections
UAE ATM managed services market is further
expected to rise in the forecast period 2018-2024, driven by rise in total ATM
transactions, increased card usage and entry of several players in the cash
management services segment. The ATM maintenance market of UAE is expected to
decline as newer advanced technology in ATMs will be introduced over long term.
The total number of ATMs is also expected to decline as consolidation in the
banking industry is underway and as banks look to reduce costs, branches and
ATMs are expected be closed down.
Key Segments
Covered
By Location of ATMs
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:
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