LAMEA Self Services Technology Market (2016-2022)

Date: 2016-09

“Self-service technologies are interfaces which allow consumers to avail various services independent of service employee involvement. Customers prefer using these technologies as they provide fast service and hassle free transactions. The demand for self-service machines, automated devices, wireless communication, technology advancements and remote management are some of the major factors driving the global self-services technology market. Increasing security threats such as card skimming and information hacking are the major restraining factors for the market growth. Smart ATMs have been introduced to reduce ATM and financial transaction frauds such as card skimming and card trapping. Smart ATMs have special features to communicate with the ATM machines through consumers’ smart phones. Consumers are performing financial transactions with the help of smart phones, and hence provide added security features.
Increasing population and rapid growth in industrialization have fuelled the demand for self-service offerings in the region majorly in the middle-east and Africa. Modernization of banking industry is witnessed in this region and hence, playing an important role in installation of ATMs. Brazil has more than 159,898 ATMs installed according to the World Bank’s data, which is more than any other country in the world, showing a promising growth for self-service machines in the region. Africa is an unexplored area hence, attracts ATM makers to maximize their presence in this region. More than 80% of all the ATMs installed in this region are in South Africa, Nigeria and in Morocco.
The LAMEA self-services technology market is bifurcated based on type and solution type. Based on type, the report segments the market into vending machine, ATM and kiosks and based on solution types, into deployment and managed services. ATM dominated the LAMEA self-service technology market and is expected to maintain its dominance throughout the forecast period. Kiosk and other self-service technology have enhanced the overall consumer satisfaction level. Within the vending machine type, the market is segmented into beverage, snacks, candy, gumball, cigarette and specialized vending machines. Conventional, brown label, white label, smart ATM and cash dispenser are the major types of ATM’s analyzed in the report. In addition, photo, DVD, ticketing, HR & employment, patient self-service, information providing and banking & financial among others are the various kiosks available in the market.
Further, for better analysis and penetration of self-service technology solutions the report bifurcate the LAMEA self-service technology market into different countries including Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and rest of LAMEA. In 2015, Brazil is estimated to dominate the LAMEA self-services technology market. Rest of LAMEA on the other hand is expected to register fastest growth during the forecast period.
Some of the prominent players profiled in the report include KIOSK Information Systems Inc., HESS Cash Systems GmbH & Co. KG, NCR Corporation, Fujitsu Limited, Glory ltd., Azkoyen Group, Crane Co., Maas International B.V., Diebold, Incorporated and IBM Corporation.

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