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 REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit “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. 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 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 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 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 ATM Vendors in UAE ATM sellers in UAE ATMs sold in UAE in 2018 Cash management companies in UAE UAE ATM Contract UAE ATM cards UAE ATM Industry Growing UAE ATM Competition ATM Managed Service Trends Major ATM Suppliers UAE ATM UAE ATM Managed Service Future UAE ATM Forecast Investment in ATM in UAE NCR Market Share UAE NCR ATM Sales UAE 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 Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: ATM Growth Opportunities in UAE, ATM Industry Market UAE, ATM Managed Service Growth Drivers, ATM Managed Service Providers UAE, ATM Managed Service Trends, ATM outsourced by Banks in UAE, ATM sellers in UAE, ATM Vendors in UAE, ATMs managed by managed service providers in UAE, ATMs outsourced by NCB Bank in UAE, ATMs outsourced by Riyadh Bank, ATMs sold in UAE in 2018, Cash Dispensers in UAE, Cash management companies in UAE, Cash Recyclers in UAE, Cash-in-transit companies in UAE, Challenges UAE ATM Managed Service, Competition in UAE ATM Managed Service, Diebold Nixdorf Market Share UAE, Investment in ATM in UAE, Major ATM Suppliers UAE ATM, Mobile ATMs market in UAE, NCR ATM Sales Market UAE, NCR Market Share UAE, Number of ATMs in UAE, Off-site ATMs in UAE, On-site ATMs in UAE, Profiles of Cash Management Companies Providers UAE, Profiles of Major Managed Service Providers UAE, Regulations UAE ATM Managed Service, Success Factors UAE ATM Managed Services, Transguard Cash Replenishment Revenue UAE, UAE ATM cards, UAE ATM Competition, UAE ATM Contract, UAE ATM Expenses, UAE ATM Industry Growing, UAE ATM investment, UAE ATM Maintenance Market, UAE ATM Managed Service Future, UAE ATM Managed Service Market Analysis, UAE ATM Managed Service Market Revenue, UAE ATM managed service 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