The Europe Cardless ATM Market would witness market growth of 9.6% CAGR during the forecast period (2023-2029).
NFC chips facilitate the connection between smartphones and other NFC-enabled equipment in cardless ATMs for data transfer in the peer-to-peer communication model. In QR code verification, a mobile device can scan QR codes displayed on the ATM screen. The aforementioned factors are anticipated to boost the expansion of the cardless ATM market throughout the projected timeframe.
The Cardless ATM is a modern cash dispensing machine that allows clients to withdraw money from their online bank accounts without using physical payment cards. The cardless ATM market has experienced substantial growth in recent years due to the rising popularity of NFC (Near Field Communication), biometric authentication, and QR codes, which have propelled the market forward. Several banks offer cardless cash withdrawal services through their ATMs.
The term "banking system" refers to the collection of financial institutions, including major commercial banks, regional banks, savings banks, and investment banks. Each of these organizations possesses its primary office in addition to several subsidiary locations across Germany. Numerous financial institutions, most based in European countries, Switzerland, and other countries, are owned and operated by foreign capital. To maintain their position as regional leaders, the financial institutions that make up Germany's banking industry offer various banking products and services. Because of the strong presence of banks in the region and the growing number of banks there, an increase in the predominance of ATM machines is likely to occur, which is expected to aid in boosting the market for cardless ATM in Europe.
The Germany market dominated the Europe Cardless ATM Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $269.7 Million by 2029. The UK market is anticipated to grow at a CAGR of 8.7% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 10.4% during (2023 - 2029).
Based on Type, the market is segmented into Offsite, Onsite, and Others. Based on End User, the market is segmented into Bank & Financial Institutions and Independent ATM Deployer. Based on Technology, the market is segmented into Near-field Communication (NFC), Biometric Verification, and Quick Response (QR) Codes. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Cardless ATM Market is Projected to reach USD 3.9 Billion by 2029, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujitsu Limited, HSBC Holdings plc, Barclays PLC, ICICI Bank Ltd. (The ICICI group), Citigroup Inc., JPMorgan Chase & Co., Wells Fargo & Company, BANCO SANTANDER, S.A., NCR Corporation and GRGBanking Equipment Co., Ltd.
By Type
By End User
By Technology
By Country
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