Dublin, Nov. 11, 2024 (GLOBE NEWSWIRE) — The “Solar Powered Automated Teller Machine (ATM) Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This Solar Powered Automated Teller Machine (ATM) market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The solar powered automated teller machine (ATM) market size has grown strongly in recent years. It will grow from $1.42 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed during the historic period can be attributed to increased financial inclusion initiatives, the provision of reliable banking services in remote areas, the need for rural and off-grid banking solutions, a focus on energy independence, and a rising demand for sustainable practices.
The solar powered automated teller machine (ATM) market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The projected growth during the forecast period can be attributed to economic incentives, improved brand image, favorable regulatory compliance, rising awareness, and increased government initiatives. Key trends expected in this period include the integration of smart technologies, the adoption of hybrid solar systems, the use of data analytics and insights, modular and scalable designs, and advancements in wireless communication.
The growth of fintech infrastructure is anticipated to drive the expansion of the solar-powered automated teller machine (ATM) market. According to the 2023 State of Fintech Report by F Prime Inc., a US-based venture capital firm, fintech companies have experienced substantial growth, with their combined trailing twelve-month revenue reaching $155 billion in Q3 2022, up from $116 billion in Q3 2021. This growth in fintech infrastructure is thus contributing to the rise of the solar-powered ATM market.
Leading companies in the solar-powered ATM sector are focusing on developing advanced solutions such as solar-powered ATM kiosks to improve energy efficiency and lower operational costs. For example, in April 2022, DBS Bank Limited and Post Office Saving Bank introduced Singapore’s first solar-powered ATM kiosk at Blk 528 Ang Mo Kio Ave. 10. This kiosk features solar panels that generate about 30% of its annual energy needs from solar power, and customers can track real-time solar energy production via a dashboard at the ATM.
Asia-Pacific was the largest region in the solar powered automated teller machine (ATM) market in 2023. The regions covered in the solar powered automated teller machine (ATM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the solar powered automated teller machine (ATM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Type: On-Site; Off-Site; Other Types
2) By Component: Deployment; Hardware; Software; Managed Service
3) By Transaction Type: Financial; Non-Financial
4) By Distribution Channel: Online; Offline
5) By End User: Banks; Bank Service Agent
Key Companies Profiled in the Solar Powered ATM Market: NRG Energy; Fujitsu Ltd.; NCR Corporation; Diebold Nixdorf Incorporated; Euronet Worldwide Inc.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $1.56 Billion |
| Forecasted Market Value (USD) by 2028 | $2.22 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Some of the other major companies profiled in this Solar Powered Automated Teller Machine (ATM) market report include:
- IndusInd Bank
- Hyosung TNS Inc.
- Hitachi Payment Services Pvt. Ltd.
- EcoATM Solution
- HESS Cash Systems GmbH
- Vortex Engineering
- Solar Solution
- Solaris Technologies
- Sun Solar Techno Limited
- Autonic Energy Systems Pvt. Ltd.
- Avo Solar
- POSB Bank
- Alpha Tech Energy Solutions India Pvt. Ltd.
- GRG Banking Ltd.
- Zenom Solar Power
For more information about this report visit https://www.researchandmarkets.com/r/erq2yv
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- Solar Powered Automated Teller Machine (ATM) Market Report 2024
