Global Smart Finance Hardware Market Is Expected to Generate $30.0 Million by 2031: Allied Market Research

Surge in level of technical advancement in IoT technologies, such as incorporation of data analysis tools drive the global smart finance hardware market. Based on end user, the bank and financial institutions segment accounted for the highest share in 2021. Based on region, North America held the largest share in 2021, contributing to more than one-third of the global smart finance hardware market share

PORTLAND, Ore., Jan. 16, 2023 /PRNewswire/ -- According to the report published by Allied Market Research, the global smart finance hardware market garnered $16.0 million in 2021, and is estimated to generate $30.0 million by 2031, manifesting a CAGR of 6.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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Report coverage & details:

Covid-19 Scenario:

• The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global smart finance hardware market, because many bank ATMs were shut down temporarily during the lockdown.
• Governments of every country across the world implemented stringent lockdown, travel restrictions, and social distancing norms, which resulted to halt new ATM installations.
• Also there was a significant reduction in ATM transactions, as individuals opted for UPI and other cellular transactions during the pandemic.

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The research provides detailed segmentation of the global smart finance hardware market based on Type, End User, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the modules segment held the highest share in 2021, accounting for more than three-fifths of the global smart finance hardware market, and is expected to continue its leadership status during the forecast period. However, the others segment is expected to register the highest CAGR of 10.0% from 2022 to 2031.

Based on end user, the bank and financial institutions segment accounted for the highest share in 2021, contributing to around three-fourths of the global smart finance hardware market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the independent ATM deployer segment is expected to manifest the highest CAGR of 9.2% from 2022 to 2031.

Based on region, North America held the largest share in 2021, contributing to more than one-third of the global smart finance hardware market share. On the other hand, the Asia-Pacific region is projected to maintain its dominant share in terms of revenue in 2031 and manifest the fastest CAGR of 9.6% during the forecast period.

Leading market players of the global smart finance hardware market analyzed in the research include Fujitsu, Digi International Inc., NCR Corporation, InHand Networks, IMS Evolve, OptConnect.com, Intel Corporation, Microchip Technology Inc., Miles Technologies, Diebold Nixdorf, Incorporated.

The report provides a detailed analysis of these key players of the global smart finance hardware market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Key benefits for stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart finance hardware market forecast from 2021 to 2031 to identify the prevailing market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities of smart finance hardware market overview.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the smart finance hardware market segmentation assists to determine the prevailing smart finance hardware market opportunity.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global smart finance hardware market trends, key players, market segments, application areas, and market growth strategies.

Smart Finance Hardware Market Key Segments:

Type

• Modules
• Sensors
• Others

End User

• Bank and Financial Institutions
• Independent ATM Deployer

By Region

• North America  (U.S., Canada)
• Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
• Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East, Africa)

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SOURCE Allied Market Research