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The Europe multivendor ATM software market is expected to register a CAGR of 11.69% over the forecast period of 2019-2028. A number of banks are focusing on efficient monitoring ATM solutions to enhance the performance of their ATMs rather than increasing the number of ATMs, which is propelling market growth in the region.
The Europe multivendor ATM software market growth is analyzed by segregating the region into countries such as Germany, Poland, Italy, the UK, France, Belgium, Russia, and the rest of Europe that includes Sweden, Denmark, Spain, and Norway. Russia has a developed banking system. ATMs are found in all the cities and towns. In the countryside, cash is the most preferred mode of payment. However, as per SberData, the number of cashless payments will exceed 50% in 2020. In Belgium, ATMs are common, especially in retail centers of large cities like Brussels and Antwerp. The arrival of cashless and mobile payments has led to a decline in cash withdrawal from ATMs. The proposal to create a shared network will deal with the uneven distribution of ATM machines in cities and remote areas.
Poland has an evolved banking system. ATM is called ’bankomat,’ with more than 22,000 ATMs located all over the country. A study shows that cash payments will continue to decline by 9% over the next few years, and contactless payments and mobile wallets will be adopted by consumers all over the country. Spain holds the second-leading position in the deployment of automatic deposit ATMs after Turkey. Bitcoin ATMs are also gaining popularity in the country with the growing acceptance of the digital currency. All these factors are driving market growth in the region.
Some of the key companies functioning in the region are NCR Corporation, Auriga SPA, Diebold Nixdorf, Incorporated, Salzburger Banken Software, Nautilus Hyosung America, Inc, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
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- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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