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Business

Global ATM Market Set to Grow USD 31 billion 2026 – Facts & Factors

Global ATM Market IsGrowing Due To Surge In Automation In Banking Industry In Both Developed And Emerging Economies Along With The Several Technological Advancements In This Sector.

Automatic Teller Machine (ATM) is a computerized machine, which enables a holidaymaker to withdraw money or handle his or her own money only by getting an authorized card from a financial institution where the individual has a bank account. In addition, ATM enables the account holder to conduct many other transactions such as checking balances, printing statements, sending money, and even making cash deposits into the account. Customers can use ATM service on their ATMs, regardless of whether they have a bank account in any other bank. They are regarded as a secure and convenient way of managing capital. Today, on-site ATMs are set up within the bank premises, where both the physical bank and the ATM are used. This reduces the working load of bank workers and allows consumers to get rid of lengthy lines for cash transactions and deposits and removals. This reduces the frequency of errors by ATMs which enable banks to carry out transparent financial transactions.

The global market demand for ATM in 2019 was projected at around USD 16 billion, with an estimated USD 31 billion at the end of 2026. It has been anticipated by the industry players and analysts that the global ATM market growth will be growing at a CAGR rate of 7% between 2020 to 2026.

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Rising digitization is acting as an enabler to the market. To provide customers with comfort and security during financial transaction management, financial institutions and ATM operators concentrate on EMV migration requirements at ATM. EMV applies to MasterCard, Europay, and Visa, which provide improved protection for smart cards.

The increase in technological innovation has led to automation across numerous vertical industries around the world. ATMs in the banking sector have increased the performance and productivity of bankers. Thereby, certain factors lead to the global ATM market.

Top Market Players

  • GRG Banking
  • Nautilus Hyosung
  • Diebold Nixdorf
  • Hitachi
  • ITM
  • Fujitsu
  • OKI
  • NCR
  • Keba
  • Synkey Group.

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The ATM market is fragmented into application and type. In terms of type, the market is classified into conventional/bank ATMs, brown ATMs, white ATMs, and smart ATMs. Besides, the application category is stratified on a demand basis into the banking and retail industries. Banks are the biggest installers of ATMs and currently have the largest share of the market. The retail banking sector focuses on simplifying the purchase process of the customer with banks. A growing appetite for fund management service channels has led banks to provide advanced features on ATMs, such as cash deposits and transactions between ATM accounts. Some services are provided by intelligent ATMs. Currently, as newly introduced, it holds less market share. In future years, smart ATMs are thus expected to play an important role in shaping the demand in the global ATM industry.

Based on geography, the North America region has accounted for the largest market share of around 35% among other regions in the global ATM market. It is due to Increased operating costs in the United States that have driven service providers to adopt solutions. The Asia Pacific and Middle East & Africa are predicted to register substantial growth during the forecast timeline due to rising demand for interactive machines. More than one million ATMs are projected to be deployed worldwide, with more than 800,000 in the Asia Pacific. The need to serve massive unbanked populations in countries such as India and China as well as emerging markets in Indonesia and Vietnam is expected to fuel demand in this region. Countries like Nigeria, Brazil, Iran, and Russia are also projected to be experiencing high demand for new machines. The Middle East and Africa are also expected to register tremendous growth as a result of the cash-driven economy, combined with strong market demand and government funding for electronic banking.

Frequently Asked Questions

What isATM?

Automatic Teller Machine (ATM) is a computerized machine, which enables a holidaymaker to withdraw money or handle his or her own money only by getting an authorized card from a financial institution where the individual has a bank account. Customers can use ATM service on their ATMs, regardless of whether they have a bank account in any other bank. They are regarded as a secure and convenient way of managing capital.

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What are the key factors driving ATM Market expansion?

The global ATM market is growing due to a surge in automation in the banking industry in both developed and emerging economies along with several technological advancements in this sector.

What will be the value of ATM Market during 2020- 2026?

The global market demand for ATM in 2019 was projected at around USD 16 billion, with an estimated USD 31 billion at the end of 2026. It has been anticipated by the industry players and analysts that the global ATM market growth will be growing at a CAGR rate of 7% between 2020 to 2026.

Which region will make notable contributions towards global ATM Market revenue?

North AmericanATM market is anticipated to contribute remarkably towards the ATM market size in the coming years. It is due to Increased operating costs in the United States that have driven service providers to adopt solutions. The Asia Pacific and Middle East & Africa are predicted to register substantial growth during the forecast timeline due to rising demand for interactive machines.

Which are the key players leveraging ATM Market growth?

Some of the leading and top ATM companies in the global ATM market include Diebold Nixdorf, Incorporated, Nautilus Hyosung, GRG Banking Equipment Co. Ltd., Hitachi, ITM, Fujitsu Ltd, NCR Corporation,  Euronet Worldwide Incorporation, Hess Cash Systems GmbH, Source Technologies, Triton Systems of Delaware LLC, Synkey Group OKI, and Keba amongst others.

Categories
Business Technology

Global Visitor Management Software Market Projected to Reach USD 19 Million 2026 – Facts & Factors

Global Visitor Management Software Market Growing On The Back Of Rising Demand For The Security Compliances, Increased Number Of Fraudulent Activities, Rising Incorporation Of Artificial Intelligence And IoT Devices, Growing Demand For Replacement Of Conventional Security Processes

The visitor management software is a tool for monitoring and recording the visitor traffic for the organization. The software is designed to provide increased security measures for protecting the critical infrastructure, energy, and port facilities of the organizations. The software secures a combination of data from various bio-metric scanning components and surveillance systems for tracking the visitor traffic of the organization.

The Global Visitor Management Software market was estimated at around USD 13 billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 19 billion. The industry players and analysts predict the global Visitor Management Software market growth of around 5% in terms of CAGR.

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The software features such as monitoring and control over unauthorized visitors increased physical security, and assistance in the reduction of fraudulent activities are the major factor driving the increased penetration of the visitor management systems in the market. The providers also offer critical data security regulations compliance which provides organizations with increased efficiency and security through the visitor management software. The vendors of offering a wide range of functionalities including compliance management, security transaction, bio-metric recognition, and video surveillance which are proving advantageous for the visitor management software operator. The vendors are integrating its offering with advanced analytics, artificial intelligence, and IoT based devices to enable intelligent management while providing security intelligence data to the operator. The competitive environment is also witnessing the adoption of market penetrating strategies by notable players such as subscription-based integrated software for the end-users.

During the upcoming years, the rising demand for security compliances and the increased number of fraudulent activities are the major factors driving the market growth. Additionally, the incorporation of IoT, data analytics, and Artificial intelligence is further expanding the growth opportunities of the market. Moreover, the rising demand for the replacement of conventional security processes is also steering the faster adoption of this platform. The growing cloud-based visitor data management in the Asia Pacific region is further propelling the market growth.

Top Market Players

  • Alert Enterprise,
  • AppGear Ltd.,
  • BALANCE & UNIQUE Co. Ltd.,
  • Building Intelligence Inc.,
  • Envoy Inc.,
  • Genetec Inc.,
  • HID Global Corporation/ASSA ABLOY AB,
  • Honeywell International Inc.,
  • InVentry Limited,
  • Jolly Technologies Inc.,
  • Parabit Systems,
  • Proxyclick,
  • Quantum Secure Inc.,
  • SMG Infosolutions Pvt Ltd.,
  • Track force,
  • WhosOnLocation.

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Based on type, the worldwide Visitor Management Software market can be segmented into Craft Tools, Provisioning Software, Physical Identity & Access Management, and Physical Security Information Management, with the physical security information, is anticipated to dominate the type segment. In terms `of service type, the global Visitor Management Software market can be segmented into Professional Services, Deployment & Integration, and Managed Services. On the basis of application, the market can be bifurcated into Critical Infrastructure Protection, Port Security, Public Safety & Security, and Energy Security. Based on vertical, the market can be bifurcated into BFSI, Education, Healthcare & Lifesciences, Retail, Aerospace & Defense, IT & Telecom, and Government & Public Sector. The BFSI segment is projected to register the highest CAGR of around 18.5% during the forecast period. In terms of geography, the North American region is anticipated to generate maximum revenue during the studied period whereas the Asia Pacific region is projected to provide faster growth opportunities shortly. The geographical segmentation includes North America, Europe, Latin America, and Middle East & Africa in the global Visitor Management Software market.

Frequently Asked Questions

What is Visitor Management Software?

The visitor management software is a tool for monitoring and recording the visitor traffic for the organization. The software is designed to provide increased security measures for protecting the critical infrastructure, energy, and port facilities of the organizations. The software secures a combination of data from various bio-metric scanning components and surveillance systems for tracking the visitor traffic of the organization.

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What are the key factors driving Visitor Management Software Market expansion?

Rising demand for security compliances, increased number of fraudulent activities, rising incorporation of artificial intelligence and IoT devices, growing demand for replacement of conventional security processes is projected to raise demand for the visitor management software market.

Which region will make notable contributions towards global Visitor Management Software Market revenue?

North American region is anticipated to generate maximum revenue during the studied period whereas the Asia Pacific region is projected to provide faster growth opportunities shortly.

Which are the key players leveraging Visitor Management Software Market growth?

Some of the leading and top Visitor Management Software companies in the global Visitor Management Software market include Jolly Technologies Inc., WhosOnLocation, Parabit Systems, AppGear Ltd., Quantum Secure Inc., Building Intelligence Inc., Envoy Inc., Genetec Inc., InVentry Limited, Honeywell International Inc., SMG Infosolutions Pvt Ltd., Track force, BALANCE & UNIQUE Co., Ltd., Proxyclick, HID Global Corporation/ASSA ABLOY AB, and Alert Enterprise among others.

Categories
Business

Global Gene Therapy Market Aggregate to USD 3.2 Billion 2026 – Facts & Factors

Global Gene Therapy Market Growing On The Back Of The Rising Commercialization, Increasing Investment By Major Pharma In Research And Development, Expanding Approval Portfolio, Growing Market In US And Europe

Gene therapy is a major part of the pharmaceutical industry. The therapy concentrates on the treatment of the patients through the modification of genes. The treatment involves the replacement of the defective genes with a healthy set of genes for curing patients.

The worldwide demand for the Gene Therapy market was estimated at around USD 1.4 billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 3.4 billion. The industry players and analysts predict the global Gene Therapy market growth of around14.7% in terms of CAGR.

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The gene therapy market has witnessed increased involvement of the players attracted by the business model. The participants have active involvement in investments from the commercial as well as non-commercial investors. Research and development in the industry is been actively pursued by many entities that as anticipated to reach commercial status globally. The industry is actively witnessing notable investment in molecular and cellular biology coupled with faster advancement in the segment of genomics. Market development consists of increasing competition coupled with the enhanced premiums globally. The market participants are actively pursuing decreasing the overall prices for increased accessibility across the population.

During the upcoming years, the rising commercialization, increasing investment by major pharma in research and development, expanding approval portfolio, growing market in the US and Europe are expected to drive the market growth throughout the forecast period. The increasing number of participants and the rising prevalence of the diseases are further propelling the market growth. The inadequate reimbursement policies and threat possessed by the randomized controlled trials are expected to challenge the intended growth of the market.

Top Market Players

  • Advanced Cell & Gene Therapy,
  • Audentes Therapeutics,
  • Benitec Biopharma,
  • Biogen,
  • Blubird Bio Inc.,
  • Bristol-Myers Squibb Company,
  • CHIESI Farmaceutici SPA,
  • Eurofins Scientific,
  • Geneta Science,
  • Genzyme Corporation,
  • Gilead,
  • GlaxoSmithKline PLC

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On the basis of type, the worldwide Gene Therapy market can be segmented into Germ Line Gene Therapy and Somatic Gene Therapy. Somatic gene therapy is anticipated to generate maximum revenue during the studied period. The involvement in a wide range of disorders treatment is anticipated to propel the market growth. In terms of vector type, the global Gene Therapy market can be segmented into Viral Vectors, Non-Viral Vectors, and Human Artificial Chromosome. Based on the therapy area, the market can be bifurcated into Cancer, Neurological Diseases, Infectious Diseases, Genetic Disorders, Rheumatoid Arthritis, and Others. In terms of geography, The North American market is expected to dominate the sales of the global market. Robust healthcare services, changes in payment strategies, and strong per capita healthcare expenditure are anticipated to drive the demand in the region.  The regional segmentation includes North America, Europe, Latin America, and Middle East & Africa in the global Gene Therapy market.

Frequently Asked Questions

What is Gene Therapy?

Gene therapy is a major part of the pharmaceutical industry. The therapy concentrates on the treatment of the patients through the modification of genes. The treatment involves the replacement of the defective genes with a healthy set of genes for curing patients.

What are the key factors driving Gene Therapy Market expansion?

The Rising Commercialization, Increasing Investment By Major Pharma In Research And Development, Expanding Approval Portfolio, Growing Market In US And Europe is projected to raise demand for the Gene Therapy market.

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What will be the value of Gene Therapy Market during 2020- 2026?

The Global Gene Therapy market is expected to generate revenue of around USD 3.4 Billion by end of 2026, growing at a CAGR of around 14.7% between 2020 and 2026.

Which region will make notable contributions towards global Gene Therapy Market revenue?

The North American market is expected to dominate the sales of the global market. Robust healthcare services, changes in payment strategies, and strong per capita healthcare expenditure are anticipated to drive the demand in the region.

Which are the key players leveraging Gene Therapy Market growth?

Some of the leading and top Gene Therapy companies in the global Gene Therapy market include Advanced Cell & Gene Therapy, Audentes Therapeutics, Benitec Biopharma, Biogen, Blubird Bio, Inc., Bristol-Myers Squibb Company, CHIESI Farmaceutici SPA, Eurofins Scientific, Geneta Science, Genzyme Corporation, Gilead, GlaxoSmithKline PLC, Human Stem Cells institute, Novartis AG, Orchard Therapeutics, Pfizer Inc., Sangamo therapeutics, Spark therapeutics, and Voyager Therapeutics among others.

Categories
Business

Global MEMS Gas Sensor Market Worth to Reach USD 233.9 Billion 2026 – Facts & Factors

Global MEMS Gas Sensor Market Growing Due To Technologically Superior quality and rising Demands from Industries

Gas sensors are electronic devices that are used to detect toxic or inflammable gases mostly in industrial facility They detect changes in the environment and this change is reflected in their output signal that is generally, a voltage signal transmitted to the system, and appropriate action is taken. They are often a part of a larger embedded system that is connected to an alarm or any security apparatus. One of the most commonly used gas sensors is the Micro-electromechanical system (MEMS) gas sensor. These sensors are fabricated for real-time environmental monitoring operations. MEMS gas sensor is composed of a microheater, a sensing electrode, and a sensing material. Variation in the resistance of metal oxide Nanopowder, when exposed to gases, is used as a trigger for operationalizing the security system. A recent development in the internet of things (IoT) has created further demand for the MEMS gas sensor market.

The Global MEMS Gas Sensor market was estimated at around USD 151.9 Billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 233.9 Billion. The industry players and analysts predict the global MEMS Gas Sensor market growth of around 6.3% in terms of CAGR.

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All the major heavy industries work with electrical appliances such as circuit breakers, transformers, motors, furnaces, and others. These machines use inert gases for insulation purposes. Most of these inert gases are greenhouse gases and strict adherence to their emission required. MEMS gas sensors are utilized by heavy industries to detect the emission of greenhouse gases. Similarly, these industries also work with toxic and inflammable gases, leakage of it create havoc in factory and neighborhood. MEMS gas sensors are also utilized in the detection of leakage of toxic gases and for taking remedial action. Awareness about pollution and demand from society to reduce it has led to the monitoring of air quality on a real-time basis. Air quality is expressed concerning the number of pollutants like carbon mono oxide, Nitrogen Oxide, Sulphur dioxide, etc. Sensing carbon Mono oxide and nitrogen is extremely important owing to the hazardous impact of them on human health. Thus, it is expected that in the forecast period government and pollution monitoring agencies will be one of the major end-users of MEMS gas sensors. In coal mines, Coal mine methane (CMM) could be extremely dangerous for coal miners. To protect miners from hazardous accidents MEMS sensors are used in Mining.

During the upcoming years, the technological superiority of MEMS sensors is expected to create tremendous demand for MEMS sensors. The advantage of MEMS devices is their ability to perform complex functions given their small size. MEMSdevices are often used in applications such as navigation, image processing, and sound processing that are required in mobile phones. The development of the Internet of Things (IoT) technology has also boosted the demand for MEMS sensors. IoT has the tremendous requirement of tiny low-cost sensors that consumes less power and can communicate with the system in the harsh electrical and mechanical environment. The MEMS sensor completely fits this role. However, the current challenges remain in developing CMOS-compatible approaches to deposit various sensing materials on the micro hotplates.

Top Market Players

  • KWJ
  • Figaro
  • Winsen
  • AMS
  • Omron
  • K-Free Technology Limited
  • Gelest Inc

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Based on Type, the worldwide MEMS Gas Sensor market can be segmented into Inflammable Gas, Toxic Gas, Others. Among these, Inflammable and Toxic gases will occupy the leading market share followed by the other category. By Application MEMS Gas Sensor Market is divided into Chemical & Oil, Mining, Environmental, Civil Gas Safety, Others. It is anticipated that Mining and Environmental applications will be major drivers of the market followed by the chemical and oil industry. In terms of geography, the MEMS Gas Sensor market is segmented into North America, LATAM, Europe, Asia-Pacific, and the Middle East and Africa From Regional perspectives, it is expected that the Asia-Pacific region will account for the largest share of the market owing to demand from mining, manufacturing industries in China and India. Demand for the automotive and transportation industry in South Korea and Japan

Frequently Asked Questions

What is MEMS Gas Sensor?

Gas sensors are electronic devices that are used to detect toxic or inflammable gases mostly in industrial facility They detect the change in the environment and this change is reflected in their output signal that is generally, a voltage signal transmitted to the system, and appropriate action is taken. MEMS gas sensor is composed of a microheater, a sensing electrode, and a sensing material.

What are the key factors driving the MEMS Gas Sensor Market expansion?

During the upcoming years, the technological superiority of MEMS sensors is expected to create tremendous demand for MEMS sensors. The advantage of mems devices is their ability to perform complex functions given their small size. MEMSdevices are often used in applications such as navigation, image processing, and sound processing that are required in mobile phones. The development of the Internet of Things (IoT) technology has also boosted the demand for MEMS sensors

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What will be the value of the MEMS Gas Sensor Market during 2020- 2026?

The worldwide demand for the MEMS Gas Sensor market was estimated at around USD 151.9 Billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 233.9 Billion.The industry players and analysts predict the global MEMS Gas Sensor market growth of around 6.3% in terms of CAGR

Which region will make notable contributions towards global MEMS Gas Sensor Market revenue?

From a Regional perspective, it is expected that the Asia-Pacific region will account for the largest share of the market owing to demand from mining, manufacturing industries in China and India. Demand for the automotive and transportation industry in South Korea and Japan.

Which are the key players leveraging MEMS Gas Sensor Market growth?

Some of the leading and top MEMS Gas Sensor companies in the global MEMS Gas Sensor market Honeywell Analytics, MSA, Amphenol, Figaro, Alphasense, ams AG , MEMBRAPOR AG, Dynament, Sensirion, Asahi Kasei Corporation, Nissha, IDT, Breeze Technologies, eLichens, Bosch Sensortec, Edinburg Sensors, GASTE, Nemoto Sensor Engineering Company Limited, and SPEC Sensors.