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,…