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Global Virtual Teller Machine (VTM) Market Size study, by Offering (Hardware, Software, Service) by Deployment (On-site, Off-site, Others), by Provider (Bank and Financial Institutions, Managed Service Provider) and Regional Forecasts 2022-2032

July 2024 | 200 pages | ID: GE4E34D3FAC3EN
Bizwit Research & Consulting LLP

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Global Virtual Teller Machine (VTM) Market is valued approximately at USD 1621.23 million in 2023 and is anticipated to grow with a healthy growth rate of more than 12.50% over the forecast period 2024-2032. A Virtual Teller Machine (VTM) is an advanced banking technology that combines the convenience of traditional ATM services. VTMs feature interactive video interfaces that enable customers to conduct various banking transactions remotely, such as cash withdrawals, deposits, check cashing, and account inquiries. VTMs are increasingly deployed by banks and financial institutions to enhance customer service, extend banking hours and optimize branch operations while maintaining a human touch in the digital banking experience. VTMs are increasingly incorporating AI-driven features such as chatbots and virtual assistants to provide personalized and efficient customer service. These systems can handle routine inquiries, offer product recommendations, and guide users through transactions, enhancing the overall user experience.

The Global Virtual Teller Machine (VTM) market is witnessing significant growth driven by several factors. The growing demand for cost-effective and secure solutions, coupled with the surge in adoption of automation solutions in the banking sector, is fueling market expansion. Additionally, the growing adoption of multifunctionality features in VTMs is positively impacting market growth by providing enhanced convenience and versatility to users. However, Global Virtual Teller Machine (VTM) market growth is hindered by challenges such as security issues and privacy concerns, as well as the high implementation cost associated with VTMs. These factors may pose barriers to adoption and limit market expansion to some extent. On the other hand, the rise in adoption of video banking technology presents lucrative opportunities for the expansion of the VTM market during the forecast period 2024-2032. Video banking enhances customer engagement and interaction by enabling face-to-face communication with remote tellers, thereby addressing some of the concerns related to security and privacy. However, mismanagement of Virtual Teller Machine (VTM) and a lack of understanding among developing economies, on the other hand, would stifle market growth between 2022 and 2032.

The key regions considered for the global Virtual Teller Machine (VTM) Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market North America emerged as the dominant region in the Virtual Teller Machine (VTM) Market Size, a trend expected to persist through the forecast period in terms of revenue. This stronghold is attributed to the increasing demand for interactive machines and managed services within the financial sector. However, Asia-Pacific region is projected to registered fastest growth during the forecast period, driven by heightened investment in virtual teller machine (VTM) technology. This surge in investment reflects the region's recognition of the potential of VTMs to revolutionize banking services and meet the evolving needs of customers. As a result, Asia-Pacific is poised to witness the fastest growth owing to rising advancements and adoption of Virtual Teller Machine (VTM) solutions in the coming years, contributing substantially to the overall growth of the global Virtual Teller Machine (VTM) market.

Major market player included in this report are:
Arman Design
Redyref Interactive Kiosks
Aurionpro Solutions Ltd
Kontron AG
Huawei Technologies Co., Ltd.
Diebold Nixdorf
KIOSK Information Systems
NCR Corporation
Hitachi-Omron Terminal Solutions
Slabb Kiosks Inc

The detailed segments and sub-segment of the market are explained below:

By Offering
Hardware
Software
Service

By Deployment
On-site
Off-site
Others

By Provider:
Bank and Financial Institutions
Managed Service Provider

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market
CHAPTER 1. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET DEFINITION AND RESEARCH ASSUMPTIONS

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
  1.3.1. Inclusion & Exclusion
  1.3.2. Limitations
  1.3.3. Supply Side Analysis
    1.3.3.1. Availability
    1.3.3.2. Infrastructure
    1.3.3.3. Regulatory Environment
    1.3.3.4. Market Competition
    1.3.3.5. Economic Viability (Consumer’s Perspective)
  1.3.4. Demand Side Analysis
    1.3.4.1. Regulatory frameworks
    1.3.4.2. Technological Advancements
    1.3.4.3. Environmental Considerations
    1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Global Virtual Teller Machine (VTM) Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
  2.3.1. By Offering
  2.3.2. By Deployment
  2.3.3. By Provider
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion

CHAPTER 3. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET DYNAMICS

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

CHAPTER 4. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET: INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economic
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET SIZE & FORECASTS BY OFFERING 2022-2032

5.1. Hardware
5.2. Software
5.3. Service

CHAPTER 6. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET SIZE & FORECASTS BY DEPLOYMENT 2022-2032

6.1. On-site
6.2. Off-site
6.3. Others

CHAPTER 7. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET SIZE & FORECASTS BY PROVIDER 2022-2032

7.1. Bank and Financial Institutions
7.2. Managed Service Provider

CHAPTER 8. GLOBAL VIRTUAL TELLER MACHINE (VTM) MARKET SIZE & FORECASTS BY REGION 2022-2032

8.1. North America Virtual Teller Machine (VTM) Market
  8.1.1. U.S. Virtual Teller Machine (VTM) Market
    8.1.1.1. Offering breakdown size & forecasts, 2022-2032
    8.1.1.2. Deployment breakdown size & forecasts, 2022-2032
    8.1.1.3. Provider breakdown size & forecasts, 2022-2032
  8.1.2. Canada Virtual Teller Machine (VTM) Market
8.2. Europe Virtual Teller Machine (VTM) Market
  8.2.1. U.K. Virtual Teller Machine (VTM) Market
  8.2.2. Germany Virtual Teller Machine (VTM) Market
  8.2.3. France Virtual Teller Machine (VTM) Market
  8.2.4. Spain Virtual Teller Machine (VTM) Market
  8.2.5. Italy Virtual Teller Machine (VTM) Market
  8.2.6. Rest of Europe Virtual Teller Machine (VTM) Market
8.3. Asia-Pacific Virtual Teller Machine (VTM) Market
  8.3.1. China Virtual Teller Machine (VTM) Market
  8.3.2. India Virtual Teller Machine (VTM) Market
  8.3.3. Japan Virtual Teller Machine (VTM) Market
  8.3.4. Australia Virtual Teller Machine (VTM) Market
  8.3.5. South Korea Virtual Teller Machine (VTM) Market
  8.3.6. Rest of Asia Pacific Virtual Teller Machine (VTM) Market
8.4. Latin America Virtual Teller Machine (VTM) Market
  8.4.1. Brazil Virtual Teller Machine (VTM) Market
  8.4.2. Mexico Virtual Teller Machine (VTM) Market
  8.4.3. Rest of Latin America Virtual Teller Machine (VTM) Market
8.5. Middle East & Africa Virtual Teller Machine (VTM) Market
  8.5.1. Saudi Arabia Virtual Teller Machine (VTM) Market
  8.5.2. South Africa Virtual Teller Machine (VTM) Market
  8.5.3. Rest of Middle East & Africa Virtual Teller Machine (VTM) Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Arman Design
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Market Strategies
  9.3.2. Redyref Interactive Kiosks
  9.3.3. Aurionpro Solutions Ltd
  9.3.4. Kontron AG
  9.3.5. Huawei Technologies Co., Ltd.
  9.3.6. Diebold Nixdorf
  9.3.7. KIOSK Information Systems
  9.3.8. NCR Corporation
  9.3.9. Hitachi-Omron Terminal Solutions
  9.3.10. Slabb Kiosks Inc

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Virtual Teller Machine (VTM) market, report scope
TABLE 2. Global Virtual Teller Machine (VTM) market estimates & forecasts by Region 2022-2032 (USD Million)
TABLE 3. Global Virtual Teller Machine (VTM) market estimates & forecasts by Offering 2022-2032 (USD Million)
TABLE 4. Global Virtual Teller Machine (VTM) market estimates & forecasts by Deployment 2022-2032 (USD Million)
TABLE 5. Global Virtual Teller Machine (VTM) market estimates & forecasts by Provider 2022-2032 (USD Million)
TABLE 6. Global Virtual Teller Machine (VTM) market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 7. Global Virtual Teller Machine (VTM) market by region, estimates & forecasts, 2022-2032 (USD Million)
TABLE 8. Global Virtual Teller Machine (VTM) market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 9. Global Virtual Teller Machine (VTM) market by region, estimates & forecasts, 2022-2032 (USD Million)
TABLE 10. Global Virtual Teller Machine (VTM) market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 11. Global Virtual Teller Machine (VTM) market by region, estimates & forecasts, 2022-2032 (USD Million)
TABLE 12. Global Virtual Teller Machine (VTM) market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 13. Global Virtual Teller Machine (VTM) market by region, estimates & forecasts, 2022-2032 (USD Million)
TABLE 14. Global Virtual Teller Machine (VTM) market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 15. Global Virtual Teller Machine (VTM) market by region, estimates & forecasts, 2022-2032 (USD Million)
TABLE 16. U.S. Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 17. U.S. Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 18. U.S. Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 19. Canada Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 20. Canada Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 21. Canada Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 22. UK Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 23. UK Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 24. UK Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 25. Germany Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 26. Germany Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 27. Germany Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 28. France Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 29. France Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 30. France Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 31. Italy Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 32. Italy Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 33. Italy Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 34. Spain Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 35. Spain Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 36. Spain Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 37. RoE Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 38. RoE Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 39. RoE Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 40. China Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 41. China Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 42. China Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 43. India Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 44. India Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 45. India Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 46. Japan Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 47. Japan Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 48. Japan Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 49. Australia Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 50. Australia Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 51. Australia Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 52. South Korea Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 53. South Korea Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 54. South Korea Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 55.
TABLE 56. RoAPAC Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 57. RoAPAC Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 58. RoAPAC Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 59. Brazil Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 60. Brazil Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 61. Brazil Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 62. Mexico Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 63. Mexico Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 64. Mexico Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 65. RoLA Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 66. RoLA Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 67. RoLA Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 68. Saudi Arabia Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 69. Saudi Arabia Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 70. Saudi Arabia Virtual Teller Machine (VTM) market estimates & forecasts, 2022-2032 (USD Million)
TABLE 71. South Africa Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 72.
TABLE 73. South Africa Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 74. South Africa Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 75. RoMEA Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 76. RoMEA Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 77. RoMEA Virtual Teller Machine (VTM) market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 78. List of secondary sources, used in the study of Global Virtual Teller Machine (VTM) Market.
TABLE 79. List of primary sources, used in the study of Global Virtual Teller Machine (VTM) Market.
TABLE 80. Years considered for the study.
TABLE 81. Exchange rates considered

LIST OF FIGURES

FIG 1. Global Virtual Teller Machine (VTM) market, research methodology
FIG 2. Global Virtual Teller Machine (VTM) market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Virtual Teller Machine (VTM) market, key trends 2023
FIG 5. Global Virtual Teller Machine (VTM) market, growth prospects 2022-2032
FIG 6. Global Virtual Teller Machine (VTM) market, porters 5 force model
FIG 7. Global Virtual Teller Machine (VTM) market, pestel analysis
FIG 8. Global Virtual Teller Machine (VTM) market, value chain analysis
FIG 9. Global Virtual Teller Machine (VTM) market by segment, 2022 & 2032 (USD Million)
FIG 10. Global Virtual Teller Machine (VTM) market by segment, 2022 & 2032 (USD Million)
FIG 11. Global Virtual Teller Machine (VTM) market by segment, 2022 & 2032 (USD Million)
FIG 12. Global Virtual Teller Machine (VTM) market by segment, 2022 & 2032 (USD Million)
FIG 13. Global Virtual Teller Machine (VTM) market by segment, 2022 & 2032 (USD Million)
FIG 14. Global Virtual Teller Machine (VTM) market, regional snapshot 2022 & 2032
FIG 15. North America Virtual Teller Machine (VTM) market 2022 & 2032 (USD Million)
FIG 16. Europe Virtual Teller Machine (VTM) market 2022 & 2032 (USD Million)
FIG 17. Asia pacific Virtual Teller Machine (VTM) market 2022 & 2032 (USD Million)
FIG 18. Latin America Virtual Teller Machine (VTM) market 2022 & 2032 (USD Million)
FIG 19. Middle East & Africa Virtual Teller Machine (VTM) market 2022 & 2032 (USD Million)
FIG 20. Global Virtual Teller Machine (VTM) market, company market share analysis (2023)


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