Solar Powered ATM Market Projected to Hit $3.10 Billion By 2030 – GlobeNewswire
Portland,OR, Nov. 08, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global solar powered ATM market was accounted for $1.27 billion in 2020, and is estimated to reach $3.10 billion by 2030, growing at a CAGR of 9.7% from 2021 to 2030.
Rise in need of continuous electricity supply technology among the banks and financial institution, rise in adoption of solar power ATM among the banks across the U.S. and Canada, and surge in power cut issues in rural areas have boosted the global solar powered ATM market. However, lack of awareness toward solar powered ATM hinders the market growth. On the contrary, surge in initiatives by key market players such as product launch and development is expected to open new opportunities in the future.
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- The Covid-19 pandemic resulted in country-wide lockdown and shut down of businesses across the globe. This imposed restrictions on selling and installing ATM systems.
- Since the pandemic, the industrial sectors prefer to buy solar powered ATMs due to rise in awareness of growing CO2 emissions and climate change.
The report divides the global solar powered ATM market on the basis of component, type, end user, and region. Based on component, the deployment segment held the largest share in 2020, accounting for nearly three-fourths of the market. However, the managed services segment is projected to manifest the highest CAGR of 11.8% during the forecast period.
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On the basis of end user, the banks segment held the lion’s share in 2020, contributing to more than four-fifths of the market. However, the bank agent segment is estimated to portray the highest CAGR of 14.1% from 2021 to 2030.
The report offers an analysis of the global solar powered ATM market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. Moreover, the region is anticipated to showcase the highest CAGR of 11.9% during the forecast period.
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The global solar powered ATM market report includes an in-depth analysis of the prime market players such as Diebold Nixdorf Incorporated, Alpha Tech Energy Solutions India Pvt. Ltd, Fujitsu Ltd., Euronet Worldwide Inc., HESS Cash Systems GmbH, GRG Banking Equipment Co. Ltd., Hyosung Global, Hitachi Payment Services Pvt. Ltd., NCR Corporation, and Vortex Engineering.
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