The solar-powered automated teller machine (ATM) market size has grown strongly in recent years, with projections indicating it will increase from $1.42 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. This growth during the historical period is driven by factors such as growing financial inclusion initiatives, the provision of reliable banking services in remote areas, the banking needs of rural and off-grid locations, energy independence, and a heightened demand for sustainable practices. The solar-powered ATM market is expected to continue this upward trend, reaching $2.22 billion in 2028 at a CAGR of 9.3%. The growth in the forecast period can be attributed to economic incentives, improvements in brand image, favorable regulatory compliance, increased awareness, and growing government initiatives. Major trends expected during the forecast period include the integration of smart technologies, hybrid solar systems, data analytics and insights, modular and scalable designs, and advancements in wireless communication.
Global Solar Powered Automated Teller Machine ATM Market Key Driver
The rising growth of fintech infrastructure is expected to significantly drive the expansion of the solar-powered automated teller machine (ATM) market in the future. Fintech infrastructure encompasses the essential technological and organizational components that enable the delivery of financial technology (fintech) services. This growth is attributed to the increasing demand for digital financial services and advancements in technology that foster innovation and efficiency. The integration of solar-powered ATMs enhances financial infrastructure accessibility, playing a crucial role in promoting financial inclusion. For example, the 2023 State of Fintech Report published by F Prime Inc. in March 2023, a US-based venture capital firm, indicated that the companies within the fintech index have consistently demonstrated growth, with their combined trailing twelve-month revenue rising to $155 billion in the third quarter of 2022, up from $116 billion in the same quarter of 2021. Consequently, the rising growth of fintech infrastructure is driving the solar-powered ATM market forward.
Get A Free Sample Of The Solar Powered Automated Teller Machine ATM Market Report
Global Solar Powered Automated Teller Machine ATM Market Segments
The solar powered automated teller machine (atm) market covered in this report is segmented –
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
By Geography:The regions 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.
Asia-Pacific was the largest region in the solar powered automated teller machine (ATM) market in 2023.
Major Solar Powered Automated Teller Machine ATM Industry Players
NRG Energy, Fujitsu Ltd., NCR Corporation, Diebold Nixdorf Incorporated, Euronet Worldwide Inc, 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
Purchase The Global Solar Powered Automated Teller Machine ATM Market Report Directly And Get A Swift Delivery
Solar Powered Automated Teller Machine ATM Market Overview
A solar-powered automated teller machine (ATM) refers to an automated teller machine that utilizes solar energy through photovoltaic panels to generate electricity, enabling it to operate independently of traditional power sources. These are used to provide banking services in remote or off-grid locations, reducing reliance on conventional electricity and promoting sustainable financial inclusion.
Solar Powered Automated Teller Machine ATM Global Market Report 2023 provides data on the global solar powered automated teller machine atm market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The solar powered automated teller machine atm market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
