Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, an international business & consultancy firm has recently published a research report on the “Cardless ATM Market”. The total global market for the Cardless ATM Market was valued at USD 2.32 Bn in 2022 and is expected to grow at a CAGR of 10.5 percent over the forecast period to reach USD 5.16 Bn by 2029.
| Market Size in 2022 | USD 2.32 Bn |
| Market Size in 2029 | USD 5.16 Bn |
| CAGR | 10.5 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 278 |
| No. of Tables | 126 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Type, Technology and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2023−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Cardless ATM Market Report Scope and Research Methodology
The report provides an analysis of the Cardless ATM Market. The report covers a competitive analysis of market drivers, restraints, opportunities and growth of the Cardless ATM Market in detail. Also provides an industry major players profile, market strategies, status, and core competitors and includes the factors that are supposed to affect the business positively or negatively and will give an easy and clear business view of the industry to the decision-makers such as investors and stakeholders. The report provides an analysis of the key players in the Cardless ATM Market including their size, market share, market revenue, market growth, production volume, and profitability. The report gives regional coverage of key industries covered in the report to measure their dominance with Key manufacturers. The report Bottom-up approach was used to estimate the Cardless ATM Market size.
Cardless ATM Market Overview
The cardless ATM is a machine that allows people to withdraw money from their digital bank accounts without using their payment cards. This cardless facility is available in a few banks and with the adoption of mobile payment, there is potential for growth in the market. Cardless ATMs allow transacting ATM business on a smartphone’s bank app. It is a convenient way to get money from a bank account.
Increased penetration of smartphones to boost the market growth
In emerging countries, the increasing sales of low-priced smartphones and these smartphones have various high-end features such as NFC chips and QR codes on the ATM are expected to propel the market. However, biometric ATMs are the latest trend. The increasing concern regarding hygiene to keeping distance from harmful diseases and key players are focusing on contactless biometrics, including the retina, iris scanning and 3D facial recognition. The growth in the use of biometrics cardless ATM market is expected to create lucrative opportunities for Cardless ATM Market growth.
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North America is expected to dominate the global Cardless ATM Market share during the forecast period
North America accounted for the largest market share in 2022. The adoption of contactless payment services among the population is the primary driver for market growth. Growth of economic development, well-established standard peoples, growing awareness regarding technology and security and convenience benefits offers are expected to drive the Cardless ATM Market across the world.
Cardless ATM Market Segmentation
By Type:
• On-site ATM
• Off-site ATM
• Others
Based on Type, the Off-site segment accounted for the Cardless ATM Market share in 2022
The Off-site type segment is expected to grow at a significant CAGR over the forecast period in the market. Off-site cardless ATMs are becoming popular due to their convenience and accessibility such as retail stores, airports, and transportation hubs. This is the responsible key driver for segment growth.
By Technology:
• Near-field Communication (NFC)
• Quick Response (QR) Codes
• Biometric Verification
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Based on the Technology, the Quick Response (QR) Codes segment to dominate the Cardless ATM Market over the forecast period
In 2022, the Quick Response (QR) Codes application segment dominated the global market share and is expected to grow at a significant CAGR over the forecast period. The reason behind that it is less expensive to install and easy to maintain as compared to traditional ATMs. This factor is expected to boost this segment’s growth in the market.
By End User:
• Bank and Financial Institutions
• Independent ATM Deployer
Based on End-User, the banks and financial institutions segment to dominate the Cardless ATM Market over the forecast period
In 2022, the banks and financial institutions segment held the largest market share and is expected to maintain its presence during the forecast period. The Cardless ATM provides several services to customers from the bank and financial institutions. This is expected to fuel the segment demand across the region.
Cardless ATM Market’s Key Players include:
• Banco Santander SA
• Barclays Bank Plc
• Citigroup Inc.
• Commonwealth Bank of Australia
• Diebold Nixdorf Inc.
• Fifth Third Bancorp
• Fujitsu Ltd.
• GRG Banking
• HDFC Bank Ltd.
• HSBC Holdings Plc
• Hyosung Corp.
• ICICI Bank Ltd.
• JPMorgan Chase and Co.
• Kotak Mahindra Bank Ltd.
• NCR Corp.
• State Bank of India
• Turk Ekonomi Bank AS
• Wells Fargo and Co.
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Key questions answered in the Cardless ATM Market are:
- What are Cardless ATMs?
- What was the Cardless ATM Market size in 2022?
- What is the expected Cardless ATM Market size by 2029?
- What is the growth rate of the Cardless ATM Market?
- What are the key benefits of the Cardless ATM Market?
- What are the new trends in Cardless ATMs?
- What are the driving, opportunity and restraining factors in the global Cardless ATM Market?
- Which are the factors expected to drive the Cardless ATM Market growth?
- Which factors are expected to restrain the Cardless ATM Market growth?
- Which segment dominated the Cardless ATM Market growth?
- What is the demand pattern for the Cardless ATM Market?
- Which region held the largest share of the Cardless ATM Market?
- Who are the key players in the Cardless ATM Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type, Technology, End User and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is a leading Information Technology & Telecommunication research firm that has also published the following reports:
ATM Market: The total market size was valued at USD 21.17 Bn in 2022 and the total revenue is expected to grow at a CAGR of 4.9 percent from 2022 to 2029, reaching USD 31.04 Bn. The increasing customer preference for convenient payment services is expected to drive market growth.
NFC Chips Market: The total market size was valued at USD 4.34 Bn in 2021 and the total revenue is expected to grow at a CAGR of 24.49 percent from 2022 to 2029, reaching USD 25.05 Bn. The increasing need for a reliable and efficient mode of information is expected to drive market growth.
Quick Service Restaurants (QSR) IT Market: The total market size was valued at USD 274.77 Bn in 2021 and the total revenue is expected to grow at a CAGR of 4.9 percent from 2022 to 2029, reaching USD 402.88 Bn. The increasing trend of hourly wages in the QSR industry is expected to drive market growth.
Biometric Technologies Market: The total market size was valued at USD 37.57 Bn in 2021 and the total revenue is expected to grow at a CAGR of 14.1 percent from 2022 to 2029, reaching USD 107.92 Bn. The increasing use of advanced authentication and identification systems in smartphones and tablets are expected to drive market growth.
Biometric ATM Market: The total market size was valued at USD 34.15 Bn in 2022 and the total revenue is expected to grow at a CAGR of 39.21 percent from 2023 to 2029, reaching USD 42.59 Bn. The increasing adoption of biometric solutions in several organizations to detect sensitive information and keep secure is expected to drive market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic Industries, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
