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The Fintech Infrastructure Driving The Growth Of Solar Powered Automated Teller Machine (ATM) Market: Transformative Forces Shaping the Solar Powered Automated Teller Machine (ATM) Market Landscape in 2025
Solar Powered Automated Teller Machine (ATM) Market
What Will the Solar Powered Automated Teller Machine (ATM) Industry Market Size Be by 2025?
There has been a significant expansion in the market size of solar powered automated teller machines (ATMs) in the past few years. The market, which stood at $1.56 billion in 2024, is anticipated to reach $1.7 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. The historic period's growth is driven by factors such as the rise in financial inclusion initiatives, dependable banking services in distant locations, demand for banking in rural and off-grid areas, the need for energy self-sufficiency, and the increasing demand for more sustainable practices.
What's the Long-Term Growth Forecast for the Solar Powered Automated Teller Machine (ATM) Market Size Through 2029?
In the coming years, the solar powered automated teller machine (ATM) market is projected to experience significant growth, rising to $2.42 billion in 2029 with a compound annual growth rate (CAGR) of 9.2%. This progression in the forecast period can be ascribed to factors such as monetary incentives, improved brand reputations, positive regulatory compliance, heightened awareness, and escalating government initiatives. Some of the key trends shaping the forecast era encompass the incorporation of intelligent technologies, hybrid solar systems, data analytics and insights, modular and scalable designs, as well as developments in wireless communication.
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What Are the Key Growth Drivers Fueling the Solar Powered Automated Teller Machine (ATM) Market Expansion?
The future of the solar-powered automated teller machine (ATM) market is anticipated to be driven by the expanding fintech infrastructure. Fintech infrastructure consists of the technological foundations and organizational components that facilitate the operation of financial technology services. The growth of this infrastructure can be attributed to the rising demand for digital financial services and advancements in technology that facilitate innovation and efficiency. The integration of solar-powered ATMs boosts the accessibility of financial infrastructure, thus reinforcing their crucial part in promoting financial inclusion. As documented in the 2023 State of Fintech Report by the US-based venture capital firm, F Prime Inc., the enterprises indexed in fintech have continuously grown, with their combined trailing twelve-month revenue climbing to $155 billion in the third quarter of 2022, a considerable increase from $116 billion during the same period in 2021. Consequently, the expansion of fintech infrastructure is fuelling the growth of the solar-powered automated teller machine (ATM) market.
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What Are the Key Trends Driving Solar Powered Automated Teller Machine (ATM) Market Growth?
Leading firms in the solar-powered automated teller machine (ATM) sector are concentrating their efforts on creating inventive products like solar-powered ATM kiosks to improve energy conservation and decrease operating expenses. Solar-powered ATM kiosks are automated banking machines powered by solar energy, which offer banking facilities in remote or off-grid locations with scarce traditional power supplies. For example, in April 2022, DBS Bank Limited and Post Office Saving Bank, both based in Singapore, inaugurated the country's first solar-powered ATM kiosk. Situated at Blk 528 Ang Mo Kio Ave. 10, this unique kiosk consists of solar panels that account for about 30% of its yearly energy requirements from its own solar power. Patrons can also keep track of the solar energy production in real-time via a dashboard at the ATM.
How Is the Solar Powered Automated Teller Machine (ATM) Market Segmented?
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
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Which Companies Are Leading the Charge in Solar Powered Automated Teller Machine (ATM) Market Innovation?
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
Which Regions Are Leading the Global Solar Powered Automated Teller Machine (ATM) Market in Revenue?
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.
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