Press release
Smart Finance Connectivity Market is expected to witness strong growth by 2031
Growth in the smart finance connectivity market in the next few years is expected to be driven by the development in the banking sector, which is anticipated to adopt novel, advanced solutions in a bid to make different activities more user-friendly. It is anticipated the integration of advanced technologies such as Internet of Things could play a key role in banks understanding customer trends and, in turn, assist in planning their business activities appropriately.
The outbreak of the COVID-19 pandemic positively impacted the growth in the overall smart finance connectivity market. With governments imposing social distancing regulations and lockdowns in a bid to contain the spread of the virus, digital transactions witnessed a rise in demand among consumers. This helped in the growth of the overall smart finance connectivity market, during the pandemic phase.
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Smart Finance Connectivity Market-Trends and Opportunities
Rising demand for smart devices in automated teller machines is the key growth driver for the global smart finance connectivity market. Also, increasingly evolving transformations witnessed in the global banking sector could also offer significant revenue-generating opportunities for smart finance connectivity market players, in future. In addition to this, increasing expenditure by leading governments on digital infrastructure could play a key role in fueling the growth in the global smart finance connectivity market, in the coming years.
Other factors such as accessibility to wired and wireless network connectivity platforms and improved network connections could also provide revenue-generating opportunities for key market players, in the years ahead. Banks end-use segment is expected to make the largest contribution to the overall smart finance connectivity market in future because of increased integration of Internet of Things connectivity solutions during the deployment of ATMs to provide value-added services to different range of consumers.
Smart Finance Connectivity Market-Competitive Landscape
With the presence of several well-established market players, the competition in the global smart finance connectivity market has intensified significantly in the last few years. Leading market players are expected to account for a large share in the overall market, in future. Growth strategies such as new product launches could help prominent smart finance connectivity market players gain a competitive edge over other players, in future.
Collaboration with smaller players could help well-established smart finance connectivity market players expand their market presence and increase their revenue shares. Microsoft's collaborative agreement with C3, in 2018, to provide novel technology developments and initiatives have accelerated the artificial intelligence and Internet of Things application development. R&D undertakings to produce improved quality of products could be a key growth strategy for prominent smart finance connectivity market players, in the years ahead.
Some of the leading players in the global smart finance connectivity market include IMS Evolve, Datablaze LLC, Digi International Inc., Optconnect LLC, and Inhand Networks Inc.
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Smart Finance Connectivity Market-Regional Assessment
Asia Pacific is expected to offer maximum revenue-generating opportunities for the global smart finance connectivity market owing to rising number of automated teller machines in both rural and urban parts of countries such as India and China. Europe is expected to witness significant growth in the global smart finance connectivity market because of increasing demand for real-time, advanced connectivity solutions to resolve key communication issues in countries such as UK and Germany.
North America is anticipated to witness strong growth in the overall market in future owing to the presence of numerous well-established, sustainable economies such as US and Canada, which could contribute hugely to market growth in the region.
Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall smart finance connectivity market, in future.
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