According to a research report "Banking Hardware Maintenance, Software Support and Helpdesk Support Services Market analyze the market’s sub segments with respect to individual growth trends, prospects, and contributions to the total market, Also provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market - Global Forecast to 2021" published by MarketsandMarkets. Global market size for maintenance and support services for banking hardware devices and equipment is expected to grow from USD 8.4 billion in 2018 to USD 10.4 billion by 2021 at the Compound Annual Growth Rate (CAGR) of 7.5%.
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Key Business Objectives and Technology
imperatives for Retail Banks
Retail banks focus on
minimizing operational risks associated with equipment failure, improve
operational efficiency, and reduce downtime by enhancing infrastructural
capabilities. They also focus on reduction of expenses on supplier management,
strengthen supplier network for better value for money, and improved
collaboration with suppliers / partners for skills and capability development.
In terms of customer
experience, retail banking leaders aim to track and manage various
touch-points, enrich customer experience through improved maintenance and
functioning of banking devices and equipment. Banking leaders target to
increase self-service capabilities of ATMs and banking infrastructure,
strengthen software security of ATMs, adopt predictive maintenance of more
efficient operations and offer consistent experience in omni-channel
environment.
Developing countries to offer more attractive
opportunities
Developing countries like Indonesia,
Brazil, and Turkey are expanding their banking infrastructure further fueled by
population growth. Banks in these countries are projected to spend more on
procuring hardware and software to expand the bank network and in-branch
hardware/software maintenance services to maintain the infrastructure. Banks in
China, India, Canada, and Japan will align their resources to incorporate
technological advances with not many changes in their spending patterns. In
countries such as the US, Russia, France, and Germany population increase is
comparatively slower and thus their banking branches are reducing. Banks in
these countries focus on automation to
sustain competition and reduce costs. This study covers key drivers for new
technology adoption and business priorities of retail banks.
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The
ATM install base market is highly consolidated with top 4 players that
contribute64% to the overall market. Wincor Nixdorf (US), Diebold Nixdorf (US),
NCR (US), and Oki Electric (Japan) are the leaders in this market space owing
to the strong brand recognition, healthy financial position, and high R&D
investments among others. Service providers focus more on multi-vendor service
approach due to increased demand for managed services, branch automation, and
mobile and, omni-channel solutions. This study covers competitive profiles of
market leaders like NCR, Oki Electric Industry and Diebold Nixdorf and offers
insights around their business overview, revenue insights, key developments and
case studies.
The
research report categorizes the hardware, software and helpdesk support
services based on Automated Teller Machines (ATMs), Currency Sorters, Currency
Counters & Counterfeit Currency Detectors, Banking Kiosk, Digital Signage
Systems, Queue Management System, Maintenance & Support Services.
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