What is Solar Powered ATM?
Solar Powered ATM are incoming revolution in tech based payment solutions. Solar powered ATMs are aimed at reducing the carbon footprint by using clean solar energy. Solar Powered ATMs are primarily connected to the batteries which are connected to solar panels. Though, this ATMs are also connected to the main grid. Enhanced Focus on Sustainability and Govt. Incentives for sustainable infrastructure is promoting many banks to adopt solar powered ATMs. Inclusion of Modern Tech such as biometrics and cloud networking are also widely explored with solar ATMs. Although emergence of mobile wallets and Fintech has steadily shifted many economies from cash economy to digital economy, eliminating need for ATMs. Geographically, Asia Pacific is expected to biggest market of Solar Powered ATM.
The market study is broken down and major geographies with country level break-up.
Euronet Worldwide, Inc. (United States), Fujitsu (Japan), Hitachi Payment Services (Japan), Diebold Inc. (United States), Hyosung Corporation (South Korea), Wincor Nixdorf (Germany), GRG Banking (China), Vortex Engineering (India) and Zenom Solar Power (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Alpha Tech Energy Solutions India Pvt Ltd. (India), Wayira Group (United Arab Emirates) and UAMS India (India).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Solar Powered ATM market by Type, Application and Region.
On the basis of geography, the market of Solar Powered ATM has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel , the sub-segment i.e. Direct will boost the Solar Powered ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings , the sub-segment i.e. Deployment {On Site and Off Site} will boost the Solar Powered ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Components , the sub-segment i.e. Solar Panels will boost the Solar Powered ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2020, Euronet Worldwide, Inc., US based Electronic Payment Services Provider has announced acquisition of almost entire fleet of 700 non-branch ATMs of Bank of Ireland situated in Republic of Ireland. The acquisition was made und-er Euronet’s ATM Asset Acquisition Program, which offers banks an option to divesting its ATM network while maintaining the ATMs operational to increase customer satisfaction.
In 2019, Hitachi Payment Services Pvt Ltd., provider of technology enabled payment solutions has announced acquisition of almost 26% stakes in SBI Payment Services (SPS). Along with this, HPSPL and SBS has announced joint venture to explore advanced digital card payment acceptance solutions, UPI, QR code, etc.
Market Trend
Market Drivers
- Increasing Number of Bank Account Holders
- Growing Financial Literacy
- Enhanced Focus on Sustainable Infrastructure due to Climate Change
- Rising Debit Card Penetration
Opportunities
- Less Explored and Low Penetration of Debit Cards in Tier 2, Tier 3 and Rural Markets in Asia Pacific Region
Restraints
- Emergence of Fintech and Mobile Wallets
Challenges
- Upgrading the Old ATM Infrastructure requires Reasonable Cost
Key Target Audience
Solar Powered ATM Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
During this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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