Automated Teller Machine (ATM) is an electronic machine, which delivers banking solutions and services to customers of a bank by placing the card in the machine. To meet the varied requirements of customers and bankers, solar powered ATMs are launched by ATM manufacturers in India. The significant growth of solar energy in India is anticipated to impel the growth of solar powered ATMs in the country. The solar powered ATMs are designed and developed to deliver back-up solutions during power failure especially in rural areas. Vortex Engineering based in Chennai, India introduced a solar ATM that consumes less power as compared to normal ATM and is highly operational without air-conditioners as well.
Robust economic growth, increase in personal disposable income, and adoption of financial inclusion in the country by the government is anticipated to expand the growth of solar powered ATMs during the forecast period. Thus, the lack of power and non-availability of ATM machines in rural India is anticipated to intensify the demand for solar powered ATMs in the country in the next few years.
The India solar powered ATM market is bifurcated based on locationon-site and off-site. The off-site ATM is projected to expand at a higher pace during the forecast period. The market is also segmented by transaction typefinancial and non-financial. Geographically, the market is analyzed across North, South, East, and West India.
Key players identified across the value chain of this report include Vortex Engineering, Diebold India, and UAMS India.
- The study provides an in-depth analysis of the solar powered ATM market with current and future trends to elucidate the imminent investment pockets.
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers of the market
- Market player positioning in the report provides a clear understanding of the position of leading companies.
Solar Powered ATM Market Key Segmentation
The market is segmented on the basis of location, transaction type, and region.
By Transaction Type
- Vortex Engineering
- Diebold India
- UAMS India