According to a new report, published by KBV research, The Global Cardless ATM Market size is expected to reach $3.9 billion by 2029, rising at a market growth of 9.8% CAGR during the forecast period.
The Onsite segment is showcasing a CAGR of 10.2% during (2023 - 2029). This is due to the onsite ATMs' convenient location within or adjacent to the bank, allowing customers to access the physical branch and the ATM. The implementation of ATMs can alleviate the workload of bank staff and minimize wait times for customers who need to withdraw, deposit or transfer funds. In addition, ATMs provide a reliable and efficient means for banks to conduct financial transactions with reduced errors during withdrawals and deposits.
The Bank & Financial Institutions segment acquired maximum revenue share in the Global Cardless ATM Market by End User in 2022 thereby, achieving a market value of $2.8 billion by 2029. This is because cardless ATMs present a lucrative opportunity for banks and financial institutions to enhance customer service, minimize expenses, and bolster security measures. Providing cardless ATM services is a strategic move for banks and financial institutions to stand out from their rivals and entice potential clients seeking secure and hassle-free methods to manage their funds.
The Quick Response (QR) Codes segment has shown the growth rate of 10.4% during (2023 - 2029). This is due to the fact that QR code-based cardless ATMs offer cost-effective installation and maintenance solutions compared to traditional ATMs. They require minimal infrastructure to operate and can be monitored and serviced remotely. The acceptance of QR code-based cardless ATM transactions has been accelerated due to the COVID-19 pandemic.
The North America market dominated the Global Cardless ATM Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.4 billion by 2029. The Asia Pacific market is experiencing a CAGR of 10.6% during (2023 - 2029). Additionally, The Europe market would showcase a CAGR of 9.6% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/cardless-atm-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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