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The Fintech Infrastructure Driving The Growth Of Solar Powered Automated Teller Machine (ATM) Market: The Driving Engine Behind Solar Powered Automated Teller Machine (ATM) Market Evolution in 2025
Solar Powered Automated Teller Machine (ATM) Market
Solar Powered Automated Teller Machine (ATM) Market Size Growth Forecast: What to Expect by 2025?
In the last few years, the size of the solar-powered ATM market has expanded significantly. It's projected to surge from $1.56 billion in 2024 to $1.67 billion in 2025, achieving a 7.7% Compound Annual Growth Rate (CAGR). This historical growth trend is credited to the expansion of financial inclusion efforts, dependable banking services in remote locations, rural and off-grid banking necessities, energy sovereignty, and a heightened demand for sustainable methods.
How Will the Solar Powered Automated Teller Machine (ATM) Market Size Evolve and Grow by 2029?
In the upcoming years, the market size of solar powered automated teller machines (ATM) is set to experience substantial growth, escalating to $2.34 billion in 2029 with a compound annual growth rate (CAGR) of 8.7%. Economic stimuli, improved brand images, beneficial regulatory compliance, heightened awareness, and growing government initiatives are some factors influencing growth in the forecast period. The period ahead will see dominance of trends such as the incorporation of intelligent technologies, hybrid solar systems, data analytics and insights, modular and scalable models, and advancements made in wireless communication.
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What Drivers Are Propelling the Growth of Solar Powered Automated Teller Machine (ATM) Market Forward?
The growth of the solar powered automated teller machine (ATM) market is set to be driven by the expanding fintech infrastructure. This infrastructure underpins financial technology services and includes technological advancements and organisational components that are necessary for their operation. As digital financial services gain in popularity and technological developments enhance efficiency and innovation, the usage of fintech infrastructure is on the rise. The incorporation of solar-powered ATMs is augmenting the accessibility of this financial infrastructure and is integral to promoting financial inclusion. As per the data presented in the 2023 State of Fintech Report by US-based venture capital company, F Prime Inc., companies featured in the fintech index have witnessed steady growth. Their combined revenue over the past twelve months surged to $155 billion in Q3 of 2022, an increase from $116 billion in Q3 of 2021. Thus, this growing fintech infrastructure is fuelling the expansion of the solar powered ATM market.
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What Long-Term Trends Will Define the Future of the Solar Powered Automated Teller Machine (ATM) Market?
Leading corporations in the field of solar-powered automatic teller machine (ATM) are aiming to produce cutting-edge solutions such as solar-powered ATM stalls to enhance energy efficacy and curtail operation expenses. These are ATMs that run on power produced from solar panels, enabling banking facilities in rural or off-grid areas without traditional power means. For example, in April 2022, DBS Bank Limited, a bank based in Singapore, and Post Office Saving Bank, a Singaporean consumer banking service provider, inaugurated the first solar-powered ATM kiosk in Singapore. This avant-garde kiosk is situated at Blk 528 Ang Mo Kio Ave. 10 and relies on solar panels for about 30% of its yearly energy utilization, utilizing self-manufactured solar power. Clients have the facility to keep track of solar power generation in real-time via a dashboard located at the automated teller machine (ATM).
What Are the Key Segments in the 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
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Who Are the Key Players Shaping the Solar Powered Automated Teller Machine (ATM) Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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