What Has Been the Progress and Growth of the Solar Powered Automated Teller Machine (ATM) Market in Recent Years?
The solar powered automated teller machine (atm) market has seen considerable growth due to a variety of factors.
• The solar-powered automated teller machine (ATM) market has seen strong growth in recent years. It is expected to rise from $1.56 billion in 2024 to $1.7 billion in 2025, growing at a CAGR of 9.4%.
The growth is attributed to financial inclusion initiatives, providing reliable banking services in remote areas, energy independence, and the increasing demand for sustainable banking practices.
What Is The Expected Growth In The Solar Powered Automated Teller Machine (ATM) Market Size Evolve over the Forecast Period?
The solar powered automated teller machine (atm) market is expected to maintain its strong growth trajectory in upcoming years.
• The solar-powered automated teller machine (ATM) market is expected to see robust growth, reaching $2.42 billion by 2029 at a CAGR of 9.2%.
Growth is attributed to economic incentives, improved brand images, favorable regulatory compliance, rising awareness, and government initiatives. Major trends include the use of smart technologies, hybrid solar systems, data analytics, modular designs, and advancements in wireless communication.
What Main Forces Are Fueling Expansion In The Solar Powered Automated Teller Machine (ATM) Market?
The escalating expansion of fintech infrastructure is anticipated to stimulate the growth of the solar-powered automated teller machine (ATM) market in the future. Fintech infrastructure pertains to the fundamental technological and organizational elements that support the functionality of financial technology (fintech) services. The extension of fintech infrastructure is being aided by the growing demand for digital financial offerings and technology advancements that enhance innovation and effectiveness. The availability of financial infrastructure is enhanced by the incorporation of solar-powered ATMs, progressing their crucial role in promoting financial inclusion. For example, in March 2023, based on the data revealed in the 2023 State of Fintech Report by F Prime Inc., a venture capital firm located in the US, the businesses included in the fintech index have shown continuous growth, with their aggregate trailing twelve-month revenue escalating to $155 billion in the third quarter of 2022, a rise from $116 billion in the identical quarter of 2021. Thus, the mounting growth of fintech infrastructure is fuelling the expansion of the solar-powered automated teller machine (ATM) market.
What Are The Primary Segments In The Global Solar Powered Automated Teller Machine (ATM) Market?
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
Subsegments:
1) By On-Site: Bank Branch ATMs, Retail Or Store ATMs
2) By Off-Site: Standalone ATMs, Remote Location ATMs
3) By Other Types: Mobile Or Portable ATMs, Kiosk-Based ATMs, Solar-Powered Hybrid ATMs
Pre-Book The Solar Powered Automated Teller Machine (ATM) Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Solar Powered Automated Teller Machine (ATM) Market?
Large-scale enterprises in the solar-powered ATM sector are concentrating on the creation of innovative products, like solar-powered ATM kiosks, to boost energy conservation and diminish operational expenses. A solar-powered ATM kiosk is an automated banking service that runs on power produced by solar panels, catering to remote or off-grid regions with scarce traditional power supplies. For example, in April 2022, DBS Bank Limited, a banking institution based in Singapore, and Post Office Saving Bank, a Singaporean firm offering consumer banking services, initiated the first solar-powered ATM kiosk in Singapore. This pioneering kiosk, situated at Blk 528 Ang Mo Kio Ave. 10, incorporates solar panels that contribute towards approximately 30% of its yearly power demands by harnessing solar energy. Furthermore, customers can keep track of the real-time solar energy production through a dashboard equipped at the automated banking machine (ATM).
Who Are the Key Players In The Solar Powered Automated Teller Machine (ATM) Market?
Major companies operating in the solar powered automated teller machine (ATM) market are:
• 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
What Is The Most Dominant Region In The Solar Powered Automated Teller Machine (ATM) Market?
Asia-Pacific was the largest region in the solar powered automated teller machine (ATM) market in 2024. 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.
