Smart Finance Connectivity Market To Witness A Significant Growth Of USD 301.35 Million By 2028

 San Francisco, 20 July 2022: The Report Smart Finance Connectivity Market Size, Share & Trends Analysis Report By End Use (Banks & Financial Institutions, Independent ATM Deployer), By Connectivity Type (Wired, Wireless), By Region, And Segment Forecasts, 2022 - 2028

The global smart finance connectivity market size is expected to reach USD 301.35 million by 2028, registering a CAGR of 4.0% during the forecast period, according to a new report by Grand View Research, Inc. The worldwide smart finance connectivity market is expected to witness strong growth over the forecast period mainly attributed to the increased demand for IoT-based smart connectivity platforms, the banking industry's quickly growing digital transformation, and thriving competition among banks and financial institutions to widen their consumer base. Additionally, due to increased government expenditure on digital infrastructure, enhanced network connectivity, and the availability of many wired and wireless connectivity platforms, the worldwide smart financial connectivity market is expected to grow substantially in the coming years.

The rise in demand for improved ATM IoT connectivity, as well as banks' attempts to expand their consumer base with integrated services, are driving the global smart finance connectivity market. As technology progresses, customers select ATMs as the safest way to obtain cash, resulting in the growing adoption of IoT in ATMs throughout the world. The surge in demand for automation in the banking industry is fueling the global market ahead.

IoT is expected to have a significant impact on several aspects of the ATM sector, including banking and insurance, financial planning, and security and monitoring. IoT helps financial institutions and banks forecast customer trends and develop company capabilities based on data acquired connectivity. The need for real-time data collection and analysis solutions is likely to skyrocket as more customers seek customized shopping experiences. New IoT connectivity solutions are being leveraged by banks to better understand clients' buying patterns and financial health, as well as to develop new lines of business and deliver a fully digital banking experience. Additionally, the digitization of network connectivity infrastructure has positively impacted the global market.

The COVID-19 pandemic has a detrimental influence on the banking and financial services IoT market since banks and financial institutions are focusing on core competencies rather than adopting new IoT solutions for ATMs. The financial services and banking industries are likely to grow in the next few years as they recover from the worldwide crisis caused by the pandemic.

Europe had the second-largest market share in 2021. To solve real-time communication issues, banks and financial businesses in the region are searching for enhanced connectivity solutions. Furthermore, the region's growth of 5G networks is projected to have a significant influence on the worldwide industry.

Access Research Report of Smart Finance Connectivity Market @ https://www.grandviewresearch.com/industry-analysis/smart-finance-connectivity-market-report

Smart Finance Connectivity Market Report Highlights

  • Asia Pacific made the largest contribution to the global market, with over 35% share in 2021. The growth of the regional market is mainly driven by the increasing deployment of ATMs in developed and emerging regions. Additionally, increasing government initiatives to strengthen the smart city and smart finance infrastructure has further contributed to the growth of the market
  • Banks and financial institutions captured the largest market share in terms of the deployment of IoT connectivity solutions for ATMs in 2021. The growth of the segment is mainly driven by global competition and the need to expand service offerings
  • The wireless connectivity type captured the largest market share in 2021. The growth is mainly driven by the demand for wireless IoT connectivity and wireless connection networks in the development of smart ATMs and the significant demand for low-power wide-area (LPWA) networks in IoT applications

List of Key Players in the Global Smart Finance Connectivity Market

  • TELTONIKA NETWORKS
  • IMS Evolve
  • Inhand Networks, Inc.
  • Datablaze LLC.
  • Xiamen Milesight IoT Co. Ltd.
  • Benison Technologies
  • Diebold Nixdorf, Incorporated.
  • Digi International Inc.
  • Nupeak IT Solutions LLP
  • Optconnect, LLC.

Access Press Release of Smart Finance Connectivity Market @ https://www.grandviewresearch.com/press-release/global-smart-finance-connectivity-market

 

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