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Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Banking Hardware Maintenance, Software Support And Helpdesk Support Services
What Is the Projected Growth of the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
In recent times, there has been formidable growth in the market for banking hardware maintenance, software support, and helpdesk support services. The market size is projected to increase from $12.35 billion in 2024 to $13.25 billion in 2025, recording a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historical period is attributable to factors such as the heightened complexity of banking systems, increased regulatory compliance requirements, the emergence of digital banking, concerns over data privacy, customer demands for smooth services, expansion of ATM networks, and the globalization of banking operations.
Expect significant expansion in the market for banking hardware maintenance, software support, and helpdesk support services over the upcoming years. With a compound annual growth rate (CAGR) of 11.3%, the market is projected to reach $20.31 billion by 2029. Factors such as the implementation of real-time payment systems, support for remote workforces, transition to open banking, digital transformation strategies, and resilience planning are accredited for the anticipated growth. Forecasts for the period indicate trends including the adoption of cloud technology, a heightened focus on cybersecurity, the integration of AI and automation into helpdesk services, predictive maintenance, support service outsourcing, use of data analytics to optimize performance, ongoing training and skill enhancement, as well as scalability and flexibility.
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What Are the Different Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Segments?
The banking hardware maintenance, software support and helpdesk support services market covered in this report is segmented -
1) By Components: Hardware, Software
2) By Type: ATM - Maintenance Service Costs, ATM - Operational Support Service Costs, Digital Signage Systems, Queue Management System
3) By Application: Currency Sorters, Detectors And Counters, Banking Kiosk, End User Devices, Peripherals
Subsegments:
1) By Hardware: ATM Maintenance, Point Of Sale (POS) System Maintenance, Server And Network Equipment Maintenance, Other Banking Hardware Maintenance Services
2) By Software: Banking Application Support, Operating System Support, Database Management Support, Security Software Support
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What Are the Primary Drivers Shaping the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
The anticipated surge in the need for banking facilities should stimulate the expansion of the market for banking hardware maintenance, software assistance and helpdesk support services. Banks offer helpdesk support for an array of services, such as ATMs, cash deposit machines, banking kiosks, digital signage systems in banks, and more. Forbes reported in April 2023 that, by 2022, 29% of Americans prefer in-person banking, but 78% of adult Americans opt for online banking or use a smartphone app for the purpose. Hence, this heightened need for banking services is accelerating the growth of the market for banking hardware maintenance, software support and helpdesk support services.
Which Companies Are Leading in the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
Major companies operating in the banking hardware maintenance, software support and helpdesk support services market are Loomis AB, NCR Corporation, Oki Electric Industry Co. Ltd., Diebold Nixdorf Incorporated, Glory Global Solutions International Limited, Automatia Pankkiautomaatit Oy, Hitachi Payment Services Pvt. Ltd., CashLink Global Systems Pvt. Ltd., Wincor Nixdorf, Fujitsu Limited, GRG Banking Equipment Co. Ltd., Hyosung TNS Inc., KAL ATM Software GmbH, Nautilus Hyosung America Inc., Triton Systems of Delaware LLC, ACG Infotech Limited, Axiomtek Co. Ltd., Bancsource Inc., Burroughs Inc., Cennox Group, CTS Electronics SpA, DPL Group, Fiserv Inc., FSS Technologies Pvt. Ltd., Genpact Limited, HCL Technologies Limited, Infosys Limited, Mphasis Limited, Tata Consultancy Services Limited, Wipro Limited
What Are the Major Trends Shaping the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
The adoption of advanced technology is becoming a dominant trend in the banking hardware maintenance, software assistance, and helpdesk support services sector. Major firms in the industry are introducing innovative technologies like voice banking, augmented reality banking, artificial intelligence, robotic process automation, and more, to maintain their market stance. For example, in February 2023, Arvest Bank, a financial service company based in the US, introduced Selligence. Through Selligence, teams can speed up deal closures, by obtaining sales trigger leads and detailed contact and account data directly in their Chrome browsers. By using Selligence's Events and Prospecting tools, teams can reach out to a wider audience and discover unique sales trigger leads at an opportune time. This enables them to connect with potential leads, enhancing their likelihood of success and broadening their target market.
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What Are the Top Revenue-Generating Geographies in the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
North America was the largest region in the banking hardware maintenance, software support and helpdesk support services market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banking hardware maintenance, software support and helpdesk support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
2. What is the CAGR expected in the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
3. What Are the Key Innovations Transforming the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Industry?
4. Which Region Is Leading the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market?
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