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Unlocking Opportunities in the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market: 2025-2034 Forecast Report
Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Analysis
What Will the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Industry Market Size Be by 2025?
The market size for banking hardware maintenance, software support, and helpdesk support services has seen considerable growth over the past few years. This sector is predicted to grow from an impressive $12.35 billion in 2024 to a staggering $13.25 billion in 2025. This rise, representing a compound annual growth rate (CAGR) of 7.2%, can be credited to a number of different factors. Elements contributing to this growth include the increased intricacy of banking systems, the need for regulatory compliance, the emergence of digital banking, concerns over data privacy, heightened customer expectations for smooth service, expansion of ATM networks, and the globalization of banking operations.
What's the Long-Term Growth Forecast for the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Size Through 2029?
Predicted to experience swift expansion in the coming years, the market size of banking hardware maintenance, software support, and helpdesk support services is projected to reach $20.31 billion in 2029, expanding at a compound annual growth rate (CAGR) of 11.3%. This growth during the forecast period is credited to the rise of real-time payment systems, digital transformation efforts, the move towards open banking, support for a remote workforce, and resilience planning. The period is anticipated to witness trends such as the adoption of cloud technology, an emphasis on cyber security, the implementation of AI and automation in helpdesk services, predictive maintenance, support service outsourcing, the use of data analytics for performance enhancement, continuous skill development and training, as well as scalability and versatility.
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What Are the Key Growth Drivers Fueling the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Expansion?
The demand for banking services is predicted to boost the expansion of the market for banking hardware maintenance, software support and helpdesk support services. Banks offer helpdesk support for various services, such as ATMs, cash deposit machines, banking kiosks, and digital signage systems. For example, a Forbes report in April 2023 stated that by 2022, 29% of Americans would prefer to bank in person, while 78% of adult Americans would choose online banking or smartphone apps. Thus, the growing demand for banking services is fuelling the expansion of the market for banking hardware maintenance, software support and helpdesk support services.
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What Are the Key Trends Driving Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Growth?
The rise of technological innovations is a primary trend seen in the market for banking hardware maintenance, software support and helpdesk services. Leading companies within the market are creating unique and cutting-edge technologies, including voice banking, augmented reality banking, artificial intelligence, and robotic process automation to maintain their market standing. For instance, in February 2023, Arvest Bank, a financial services firm based in the US, introduced Selligence. This technology allows teams to finalize deals more promptly by gaining access to sales trigger leads, and account-level data directly in their Chrome browsers through Selligence. The use of Selligence Events and Prospecting assists teams in identifying unique sales triggers at the opportune moment, thereby expanding their reach. By using appropriate leads, teams can boost their success rates and broaden their targeted market base.
How Is the Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Segmented?
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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Which Companies Are Leading the Charge in Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market Innovation?
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
Which Regions Are Leading the Global Banking Hardware Maintenance, Software Support And Helpdesk Support Services Market in Revenue?
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.
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