solar powered atm market size, solar powered automated teller machine atm market share, solar powered automated teller machine atm industry analysis, solar powered automated teller machine atm market key players, solar powered automated teller machine (atm) market growth, solar powered automated teller machine (atm) market segments
How big is the solar powered automated teller machine (atm) market today, and what are its future growth expectations?
The solar powered automated teller machine (ATM) market size has grown strongly in recent years. It will grow from $1.56 billion in 2024 to $1.7 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to growing financial inclusion initiatives, reliable banking services in remote areas, rural and off-grid banking needs, energy independence, and increased demand for sustainable practices.
The solar powered automated teller machine (ATM) market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to economic incentives, enhancing brand images, favorable regulatory compliance, increasing awareness, and increasing government initiatives. Major trends in the forecast period include the integration of smart technologies, hybrid solar systems, data analytics and insights, modular and scalable designs, and advancements in wireless communication.
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What have been the primary factors driving the solar powered automated teller machine (atm) market’s growth?
The rising growth of fintech infrastructure is expected to propel the growth of the solar powered automated teller machine (ATM) market going forward. Fintech infrastructure refers to the underlying technological and organizational components that enable the operation of financial technology (fintech) services. The growth of fintech infrastructure is expanding due to the increasing demand for digital financial services and technological advancements driving innovation and efficiency. The accessibility of financial infrastructure is bolstered by the integration of solar-powered ATMs, advancing their pivotal role in fostering financial inclusion. For instance, in March 2023, according to the data published in the 2023 State of Fintech Report, published by F Prime Inc., a US-based venture capital firm, the companies included in the fintech index have consistently grown, with their combined trailing twelve-month revenue rising to $155 billion in the third quarter of 2022, up from $116 billion in the same quarter of 2021. Therefore, the rising growth of fintech infrastructure is driving the growth of the solar powered automated teller machine (ATM) market.
What are the key segments within 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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Which key players are shaping the solar powered automated teller machine (atm) market?
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
How will emerging trends drive the solar powered automated teller machine (atm) market throughout the forecast period?
Major companies operating in the solar-powered automated teller machine (ATM) market are focused on developing innovative offerings, such as solar-powered ATM kiosks, to enhance energy efficiency and reduce operational costs. A solar-powered ATM kiosk is an automated teller machine that operates using electricity generated from solar panels, providing banking services in remote or off-grid areas with limited access to conventional power sources. For instance, in April 2022, DBS Bank Limited, a Singapore-based bank, and Post Office Saving Bank, a Singapore-based company that provides consumer banking services, launched Singapore’s first solar-powered ATM kiosk. This innovative kiosk is located at Blk 528 Ang Mo Kio Ave. 10 and features solar panels that generate approximately 30% of its annual energy consumption from self-generated solar energy. Customers can also monitor real-time solar energy generation through a dashboard at the automated teller machine (ATM).
How do regional factors impact the solar powered automated teller machine (atm) market, and which region is the largest contributor?
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.
What Does The Solar Powered Automated Teller Machine (ATM) Market Report 2025 Offer?
The solar powered automated teller machine (atm) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A solar-powered automated teller machine (ATM) refers to an automated teller machine that utilizes solar energy through photovoltaic panels to generate electricity, enabling it to operate independently of traditional power sources. These are used to provide banking services in remote or off-grid locations, reducing reliance on conventional electricity and promoting sustainable financial inclusion.
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