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Self-service cash recycling is notably driving market growth. Banks and other financial institutions strive to increase revenue growth, enhance customer satisfaction, and better manage costs. Retail customers frequently need to withdraw cash from certain market areas, which generates a need for recurring cash replenishment. In terms of labor costs, hiring teller staff, and the opportunity costs of keeping large sums of cash in ATMs, such activities result in high costs for banks.
According to the established banking system, a bank's teller is responsible for maintaining the cash levels. The teller must sell or buy money from the vault if the amount of cash available is above or below a predetermined threshold. Multiple authentications are required for such a system (transaction), and staff members like tellers and managers are also needed. Comparable to placing a vault between two tellers but with a better cash management system is the function of a cash recycler system. By removing the costs associated with using resources, such as a teller and a vault, for managing the cash balance, cash recycling at modern ATMs with a cash recycler enables financial institutions to optimize their operations at a lower cost. Due to lower costs, this also boosts efficiency over the conventional system by about 90% while also improving banks' profitability. Therefore, such factors are expected to drive the global market during the forecast period.
Better customer experience is an emerging trend in market growth. As the banking industry is growing and there is an increase in demand to deal with the growth in banking-related services and queries. ATMs thus provide an alternative to such services. ATMs provide a quicker way to access banking services and facilities outside of a bank's regular business hours. Since there is no need for a new branch and the ATM is sufficient to meet end-user needs, many ATMs are kept either inside the bank's premises, outside the bank's premises, or as standalone ATMs at specific locations.
ATMs are capable of a wide range of tasks, including both financial and non-financial services. Hospitals, shopping centers, airports, and other locations all have ATMs where customers can conveniently withdraw cash as needed. Customers can also use ATMs to pay their bills. Additionally, ATMs can be used to transfer money (both intrabank and interbank transfers). Other non-financial services offered by ATMs include balance inquiries, PIN changes, requests for checkbooks, and other requests. The number of ATMs worldwide has increased as a result of this. Therefore, the multifunctionality of ATMs has led to a rising number of ATMs across the world. This, in turn, is expected to drive the growth of the global market during the forecast period.
The gradual shift towards online banking is a major challenge impeding market growth. The use of the internet has been promoted by the rapid global growth of e-commerce. As a result, the banking sector has also been forced to migrate from offline to online delivery of its traditional services. Banks now discover that offering the same traditional services online has helped them deliver the same traditional services more effectively throughout the entire upgrading and development process. Users can check their account summaries, transfer money, invest in recurring deposits, and do other activities due to the growing use of the internet in homes around the world. Thus, all the benefits provided by online banking have encouraged more banks across the world to offer online banking facilities to customers.
Cash transactions have decreased while online transactions have increased as a result of the switch from commercial banking to online banking. The expansion of the global market for ATM slide rails is directly impacted by online banking transactions. The number of physical trips to a bank or an ATM to withdraw cash or use other services, like fund transfers or utility bill payments, will decline as commercial banks enable more online banking in the future. This is expected to hamper the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accuride International Inc. - The company provides drawer slides, specialty slides, access control systems, and related accessories. The key offerings of the company include heavy duty over travel slide with adapter rail mount disconnect, which is designed with a side mount load capacity of up to 200 pounds per pair with a drawer width of 42 inches.
The report also includes detailed analyses of the competitive landscape of the market and information about 6 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
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The full extension segment was valued at USD 134.70 million in 2018. Full extension slide rail shipments reached a record high in recent years, and analysts believe this trend will continue in the years to come. ATMs frequently use full extension slide rails. The segment will hold the majority of market shares and control the industry based on the full extension type's properties during the forecast period.
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North America is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing demand to eliminate manual tasks is the main factor driving the market in North America. As a result, customers in North America are choosing automated devices more frequently to complete both financial and non-financial banking tasks. Additionally, the majority of the financial institutions in the area are promoting ATM services and increasing customer awareness of the advantages of ATMs. In order to decrease fraudulent activities, ATM manufacturers and financial institutions in North America are incorporating and choosing to use cutting-edge technologies like anti-skimming, biometric devices, and voice recognition systems. Customers feel more secure as a result, which motivates them to use ATMs when conducting banking transactions. Hence, such factors will drive regional market growth during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Automated Tellers ATM slide rails are essential components in the hardware of Automated Teller Machines (ATMs) that facilitate linear motion for various functionalities, including cash recycling, deposit box access, and telescoping movement of drawers. These rails come in different materials such as Aluminum, Steel, and Stainless Steel, each offering unique benefits. Load bearing capacities are crucial factors in selecting the appropriate slide rail material. Corrosion prevention is another essential consideration, especially in high-traffic, humid environments. Electroplating enhances the resistance of slide rails to corrosion and wear. Lubricants play a significant role in ensuring longevity and smooth operation. Full and partial extension slide rails enable access to various compartments in ATMs, while over-extension protection prevents damage. ATM slide rails support various applications, including cash management, payment systems, and liquid cash management.
Also, they are used in small value transactions, automated teller safes, error boxes, front panels, and automatic cash recycling systems. Markets for ATM slide rails include Bitcoin ATMs, where the need for robust and secure components is paramount. Material insights reveal that Aluminum and Steel are commonly used due to their strength and affordability, while Stainless Steel offers superior corrosion resistance. In conclusion, the market is diverse, with various applications and materials catering to the unique requirements of the ATM hardware industry. Understanding the material properties and their impact on performance is crucial for manufacturers and suppliers in this sector.
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Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.2% |
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Market growth 2024-2028 |
USD 397.3 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
12.88 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 51% |
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Key countries |
US, Canada, Germany, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accuride International Inc., ATM Deutschland Maschinen u. Werkzeuge Vertriebs GmbH, Chambrelan, GSF Slides, SLIDING CO., LTD., Sun Chain Metal Industry Co. Ltd., Takachiho Koheki Co. Ltd., The Timken Co., THK Co. Ltd., and TUMA |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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