The report titled “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)” covers market revenue generated by managed service providers in Saudi Arabia along with market segmentation by service offerings (from cash management services, ATM repair and maintenance and ATM site maintenance services), by type of ATMs (On-site, off-site, Mobile ATMs), by ATM Machine (Cash Dispensers, Cash Recyclers), and by service offerings of Cash Management Companies (Cash Replenishment Service, Cash-in-Transit & Other cash management services including cash processing, cash vaulting, cash reconciliation & cash forecasting) for the period 2013-2023. The report also covers emerging growth drivers and trends; issues and challenges; decision making parameters; and competitive landscape of players in the market with special focus on Abana, Hamrani, AMNCO, Abu-Sarhad, NCR, Hyosung, Sanid, G4S Almajal and Hemaia Group. The interpretation explores ATM Supply Market and ATM Cash Management Services Market, future outlook & projections along with analyst recommendation & macroeconomic variables highlighting the major opportunities & cautions to the readers. This report will particularly help the readers to identify the ongoing trends in the industry and anticipated growth in the future depending upon changing industry dynamics in upcoming years.
Market Overview: Saudi Arabia ATM Managed Service Market has witnessed strong growth owing to increase in number of ATMs, higher demand of outsourcing services to managed service providers, decrease in prices charged over the years, increase in initiatives taken by SAMA to promote financial inclusion and the growing number of local and international players across the Kingdom. The industry revenue witnessed a five year CAGR of close to 5% during the review period (2013-2018). The market is currently in growth stage with strong possibility for further development at a faster pace with positive trends expected in the industry. Profitability associated with ATM managed services is highly correlated with multiple factors such as improving the process of cash withdrawals in the ATM, increase in number of ATMs, introducing new breed of ATM machines, improvement in customer retention schemes and relationships for longer contracts, having diversified services portfolio with trained professionals. Profitability has been analyzed to be in the estimated range of 20%-25% in 2018.
By Service Offerings (Cash Management Service, ATM Site Maintenance, ATM Repair & Maintenance)
ATM Managed Service Market incorporates various services such as Cash Management Services, ATM repair & maintenance services which include SLM and AMC contracts with vendors and other managed service providers and ATM site maintenance. Cash Management Services which includes cash replenishment, cash in transit, cash processing, cash reconciliation, cash vaulting and other cash related services contributed majority share in 2018. This was followed by ATM repair & maintenance which contributed second highest share to the total revenues in 2018. ATM repair and maintenance includes revenues from annual maintenance fees & second line maintenance. The remaining share belongs to ATM site maintenance which includes services related to housekeeping, security, cleanliness, lighting, etc.
By Type of machines (Cash Recyclers and Cash Dispensers)
In Saudi Arabia, ATM machines are primarily of two types which are Cash dispensing machine (ATM Machine) and cash recyclers. Presently, total number of cash recycler machines operating in Saudi Arabia was evaluated at close to 2,000. However, number of cash dispensing machines operating in Saudi Arabia was observed to take higher share.
By Service offerings of Cash Management Companies (Cash Replenishment Service, Cash-in-Transit, Others – Cash Processing, Cash Vaulting, Cash Reconciliation & Cash Forecasting)
Major services offered by the cash management companies include ATM replenishment, cash-in-transit, cash processing, cash reconciliation and others. Cash management service companies (CMC) generates highest share of their revenue through ATM replenishment service. Number of ATMs which were outsourced to cash management companies during 2018 was high. Cash-in-transit contributed second largest share to the total revenues from cash management services in 2018. Other services such as cash processing, cash reconciliation, cash vaulting and others contributed the third largest share.
Competitive Landscape in Saudi Arabia ATM Managed Services Market: The competition in the industry has been concentrated in terms of number of players and number of ATMs managed in Saudi Arabia owing to less number of players and dominance of top 5 players. Players are competing with each other on the basis of technological advancement in equipments, type and number of equipments facilitated, gamut of service offered, and duration of service level agreement number and pricing of contracts offered.
Saudi Arabia ATM Managed Services Market Future Outlook and Projections: Saudi Arabia ATM Managed Service Market has been anticipated to grow registering a CAGR of close to 2% during 2018 to 2023. The growth will be supported by the increase in the number of ATMs which is expected to grow at a CAGR of close to 3% during the same. Increase in cash withdrawals from ATM, growing demand for outsourcing management services by banks, diversifying services portfolio of managed service providers will act as a tailwind reasons for market growth in future.
Key Segments Covered in Saudi Arabia ATM Managed Service Market
By Type of ATMs (On the basis of Number of ATMs)
By Service Offerings (On the basis of Revenue)
Cash Management Services
ATM Repair & Maintenance
ATM Site Maintenance
By Type of ATM Machine (on the basis of Number of Machines)
By Service offerings of Cash Management Companies (On the basis of Revenue)
Cash Replenishment Service
Other cash management services including cash processing, cash vaulting, cash reconciliation & cash forecasting
Key Target Audience
Managed Service Providers
Major ATM Suppliers / Vendors
Cash Management Companies
Banks (Private, Commercial, State)
Saudi Arabian Monetary Authority (SAMA)
Facility Management Companies
Time Period Captured in the Report:
Historical Period – 2013-2018
Forecast Period – 2019-2023
Key Topics Covered in the Report
Saudi Arabian Economy Overview
Saudi Arabia ATM Managed Services and Outsourcing Market Introduction
Saudi Arabia ATM Managed Services Market Overview, 1970-2018
Advent and Reasons for Outsourcing ATM Services
Cross Comparison of Global ATM Industry with Banking Industry in Saudi Arabia Banking Industry in Saudi Arabia
Global Technology Trends in ATM Industry
Value Chain Analysis of Saudi Arabia ATM Managed Services Market
Ecosystem for Saudi Arabia ATM Industry
Current ATM Management Models in Saudi Arabia
Saudi Arabia ATM Managed Services Market by Revenues, 2013-2018
Saudi Arabia ATM Managed Services Market Segmentation
Saudi Arabia ATM Supply Market Introduction and Market Size
Saudi Arabia ATM Cash Management Services Market Introduction and Market Size
Cash Circulation & Cash Withdrawal Scenario in Saudi Arabia
Trends and Developments in Saudi Arabia ATM Managed Services Market
Issues and Challenges in Saudi Arabia ATM Managed Services Market
SWOT Analysis for Saudi Arabia ATM Managed Services Market
Major Cost Components and Profitability analysis of ATMs
Competition Scenario In Saudi Arabia ATM Managed Services Market
Company Profiles of Major Players in Saudi Arabia ATM Managed Services Market
Saudi Arabia ATM Managed Services Market Future Outlook and Projections
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Ankur Gupta, Head Marketing & Communications