Artificial Intelligence
Global Microfinance Market to Reach $304.3 Billion by 2026
New York, Jan. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Microfinance Industry” – https://www.reportlinker.com/p05799111/?utm_source=GNW
Microfinance encompasses a broad range of services including loans, savings, payment and insurance to help the unbanked population in achieving growth and becoming self-sufficient. Following the implementation of the Sustainable Development Goals (SDGs) in 2016, the microfinance industry has been focusing efforts on promoting access not just to credit, but also to agriculture, health, housing, education, energy, and education. Amid the COVID-19 crisis, the global market for Microfinance estimated at US$156.7 Billion in the year 2020, is projected to reach a revised size of US$304.3 Billion by 2026, registering a compounded annual growth rate (CAGR) of 11.9% over the analysis period. Asia-Pacific represents the largest regional market for Microfinance, accounting for an estimated 42.5% share of the global total. The market is projected to reach US$159.6 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 13.6% over the analysis period.
The global microfinance market forecast to witness a strong growth rate in the upcoming years due to increasing number of microenterprises, government efforts to promote microfinance, and lower interest rates. Market growth is being positively influenced by the pivotal role played by microenterprises in driving economic development. Some of the major factors supporting the market expansion are growth of SMEs and lower-income groups, including women across rural areas, their potential to maintain household and social living along with government initiatives to promote fair competition and improve the national payment system. While efforts to serve socially marginalized individuals with quality financial services is driving growth, enhanced risk management, increasing focus on micro-insurance and initiative to raise consumer awareness are creating new growth avenues. Asia-Pacific region represents a key regional market, and growth is influence by factors such as rapid industrialization, strong demand for goods & services, and rising consumer awareness. In addition, the emergence of various Islamic financial services and banks coupled with the issuance of Sukuk is expected to further augment the market growth in the coming years.
Select Competitors (Total 103 Featured)
- 51Give
- Al Amana Microfinance
- Al-Barakah Microfinance Bank
- Annapurna Finance (P) Ltd
- Asirvad Microfinance Pvt. Ltd.
- Banco do Nordeste do Brasil S.A.
- Bank Rakyat Indonesia
- BRAC
- BSS Microfinance Ltd.
- Grameen Foundation
- Kiva
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is
the World Economy Headed in 2021?
EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual %
Change) for 2020 through 2022
COVID-19 Impact on the Microfinance Industry
EXHIBIT 2: Financial Difficulties Facing Microfinance
Institutions Worldwide Due to COVID-19 Outbreak: % of MFIs
Facing Challenges for Large MFIs and Smaller MFIs
Microfinance: Holding Potential to Break the Cycle of Poverty
Microfinance Functioning
Key Principles Related to Microfinance
Key Benefits and Drawbacks of Microfinancing
Microfinance Market: Focus on Providing Access to the Unbanked
and Alleviate Property Propels Growth
Active Borrowers of Microfinance Institutions Continue to Grow
EXHIBIT 3: Global Microfinance Industry: Number of Active
Borrowers in Million for the Years 2010-2018
EXHIBIT 4: % of Rural Borrowers in Microfinance Institutions:
(in %) by Geographic Region for 2018
EXHIBIT 5: Borrower Mix in MFIs: Percentage Breakdown of Active
Borrowers by Male and Female Individuals for 2018
World Brands
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
As Important Growth Mechanisms for Economic Progress,
Microenterprises Emerge as Vital Driver of Growth for MFIs
EXHIBIT 6: The Large Unbanked Population and Focus on their
Financial Inclusion to Stimulate Microfinance Industry:
Unbanked Population as a % of Total Population by Region for
the Year 2020
EXHIBIT 7: Global Breakdown of Unbanked Adult Population (in %)
by Gender for 2020
EXHIBIT 8: Top Factors Cited as Barrier to Account Ownership: %
of Adults Citing the Reason for Being Unbanked
Changing Business Landscape Drives Microenterprises to Review
Strategies
Microfinance Presents Powerful Tool for Small Businesses &
Entrepreneurs to Access Capital
Microfinance Industry?s Growing Role in Impact Investments and
Achievement of SDGs
Growing Importance of Digitalization for Traditional MFIs
Rising Adoption of New Technologies to Push Market Growth
Mobile Payments Transform Microfinance Industry Landscape
EXHIBIT 9: Mobile Technology to Play a Vital Role in Expanding
Reach of Microfinance: Global Mobile Payments Market in US$
Billion for 2019, 2021, 2023 and 2025
Going Digital Represents Inevitable Move for Microfinance
Institutions
Microfinance Industry Leverages Big Data Analytics to Enable
Financial Inclusion
Digitization Raises Data Security Concerns
Digital Technologies Shape Rural Microfinance Market
Enhancing Equity and Accessibility of Digital Microfinance for
the Rural Families
Artificial Intelligence Poised to Transform the Future of
Microfinance
Growing Significance of Blockchain-based Microfinance Finance
EXHIBIT 10: Huge SME Financing Gap Boosts Need for Blockchain-
based Microfinance Solutions: World Formal MSMEs Finance Gap
(in $ Billion) by Region
Islamic Microfinance Emerges as a Vital Tool for Poverty
Alleviation in Islamic Nations
EXHIBIT 11: Global Islamic Finance Market by Segment (in %) for
2020
Large Commercial Banks Venture into Microfinance Market,
Presenting Opportunities and Challenges for Existing Players
Microinsurance Products: Providing Insurance Coverage to Low
Income Customers
Addressing the Risks of Climate Change with Microfinance
EXHIBIT 12: Rising Carbon Dioxide Emissions an Indication of
Climate Change: Global CO2 Concentrations (in ppm) for the
Years 2000-2100
Microfinance along with Macrofinance Holds Critical
Significance in Financial Realm
Emergence of For-Profit Microfinance Institutions Draws Criticism
Microfinance Institutions to Embrace Hybrid Model
Microfinance Providers to Collaborate with Fintechs
Key Issues Faced by Microfinance Industry
Notable Microfinance Networks: A Review
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Microfinance by
Geographic Region – China, Europe, Asia-Pacific, Latin America
and Rest of World Markets – Independent Analysis of Annual
Lending in US$ Million for Years 2020 through 2027 and % CAGR
Table 2: World Historic Review for Microfinance by Geographic
Region – China, Europe, Asia-Pacific, Latin America and Rest of
World Markets – Independent Analysis of Annual Lending in US$
Million for Years 2012 through 2019 and % CAGR
Table 3: World 15-Year Perspective for Microfinance by
Geographic Region – Percentage Breakdown of Value Lending for
China, Europe, Asia-Pacific, Latin America and Rest of World
Markets for Years 2012, 2021 & 2027
Table 4: World Current & Future Analysis for Banks by
Geographic Region – China, Europe, Asia-Pacific, Latin America
and Rest of World Markets – Independent Analysis of Annual
Lending in US$ Million for Years 2020 through 2027 and % CAGR
Table 5: World Historic Review for Banks by Geographic Region –
China, Europe, Asia-Pacific, Latin America and Rest of World
Markets – Independent Analysis of Annual Lending in US$ Million
for Years 2012 through 2019 and % CAGR
Table 6: World 15-Year Perspective for Banks by Geographic
Region – Percentage Breakdown of Value Lending for China,
Europe, Asia-Pacific, Latin America and Rest of World for Years
2012, 2021 & 2027
Table 7: World Current & Future Analysis for Non-Banks by
Geographic Region – China, Europe, Asia-Pacific, Latin America
and Rest of World Markets – Independent Analysis of Annual
Lending in US$ Million for Years 2020 through 2027 and % CAGR
Table 8: World Historic Review for Non-Banks by Geographic
Region – China, Europe, Asia-Pacific, Latin America and Rest of
World Markets – Independent Analysis of Annual Lending in US$
Million for Years 2012 through 2019 and % CAGR
Table 9: World 15-Year Perspective for Non-Banks by Geographic
Region – Percentage Breakdown of Value Lending for China,
Europe, Asia-Pacific, Latin America and Rest of World for Years
2012, 2021 & 2027
III. MARKET ANALYSIS
CHINA
Table 10: China Current & Future Analysis for Microfinance by
Institution Type – Banks and Non-Banks – Independent Analysis
of Annual Lending in US$ Million for the Years 2020 through
2027 and % CAGR
Table 11: China Historic Review for Microfinance by Institution
Type – Banks and Non-Banks Markets – Independent Analysis of
Annual Lending in US$ Million for Years 2012 through 2019 and %
CAGR
Table 12: China 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
EUROPE
Microfinance Market in Europe: An Overview
Microcredit Industry in France: An Overview
Market Analytics
Table 13: Europe Current & Future Analysis for Microfinance by
Institution Type – Banks and Non-Banks – Independent Analysis
of Annual Lending in US$ Million for the Years 2020 through
2027 and % CAGR
Table 14: Europe Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 15: Europe 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
ASIA-PACIFIC
Table 16: Asia-Pacific Current & Future Analysis for
Microfinance by Geographic Region – Bangladesh, India,
Indonesia, Vietnam and Rest of Asia-Pacific Markets –
Independent Analysis of Annual Lending in US$ Million for Years
2020 through 2027 and % CAGR
Table 17: Asia-Pacific Historic Review for Microfinance by
Geographic Region – Bangladesh, India, Indonesia, Vietnam and
Rest of Asia-Pacific Markets – Independent Analysis of Annual
Lending in US$ Million for Years 2012 through 2019 and % CAGR
Table 18: Asia-Pacific 15-Year Perspective for Microfinance by
Geographic Region – Percentage Breakdown of Value Lending for
Bangladesh, India, Indonesia, Vietnam and Rest of Asia-Pacific
Markets for Years 2012, 2021 & 2027
Table 19: Asia-Pacific Current & Future Analysis for
Microfinance by Institution Type – Banks and Non-Banks –
Independent Analysis of Annual Lending in US$ Million for the
Years 2020 through 2027 and % CAGR
Table 20: Asia-Pacific Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 21: Asia-Pacific 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
BANGLADESH
Table 22: Bangladesh Current & Future Analysis for Microfinance
by Institution Type – Banks and Non-Banks – Independent
Analysis of Annual Lending in US$ Million for the Years 2020
through 2027 and % CAGR
Table 23: Bangladesh Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 24: Bangladesh 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
INDIA
Microfinance Sector Hit by the COVID-19 Outbreak
EXHIBIT 13: Small Borrowers Face Tough Times Due to COVID-19
Pandemic: % Change in Value of Loan Disbursed by MFIs in India
for Apr-Jun and Jul-Sep 2020
Long-term Growth in the Microfinance Market Remains Promising
Indian Microfinance Market Poised to Witness More Consolidation
A Peek into Microfinance Providers in the Indian Microlending
Landscape
Primary Challenges Affecting Competitiveness of Microfinance
Institutions in India
Market Analytics
Table 25: India Current & Future Analysis for Microfinance by
Institution Type – Banks and Non-Banks – Independent Analysis
of Annual Lending in US$ Million for the Years 2020 through
2027 and % CAGR
Table 26: India Historic Review for Microfinance by Institution
Type – Banks and Non-Banks Markets – Independent Analysis of
Annual Lending in US$ Million for Years 2012 through 2019 and %
CAGR
Table 27: India 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
INDONESIA
Table 28: Indonesia Current & Future Analysis for Microfinance
by Institution Type – Banks and Non-Banks – Independent
Analysis of Annual Lending in US$ Million for the Years 2020
through 2027 and % CAGR
Table 29: Indonesia Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 30: Indonesia 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
VIETNAM
Table 31: Vietnam Current & Future Analysis for Microfinance by
Institution Type – Banks and Non-Banks – Independent Analysis
of Annual Lending in US$ Million for the Years 2020 through
2027 and % CAGR
Table 32: Vietnam Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 33: Vietnam 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
REST OF ASIA-PACIFIC
Table 34: Rest of Asia-Pacific Current & Future Analysis for
Microfinance by Institution Type – Banks and Non-Banks –
Independent Analysis of Annual Lending in US$ Million for the
Years 2020 through 2027 and % CAGR
Table 35: Rest of Asia-Pacific Historic Review for Microfinance
by Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 36: Rest of Asia-Pacific 15-Year Perspective for
Microfinance by Institution Type – Percentage Breakdown of
Value Lending for Banks and Non-Banks for the Years 2012, 2021 &
2027
LATIN AMERICA
Table 37: Latin America Current & Future Analysis for
Microfinance by Institution Type – Banks and Non-Banks –
Independent Analysis of Annual Lending in US$ Million for the
Years 2020 through 2027 and % CAGR
Table 38: Latin America Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 39: Latin America 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
REST OF WORLD
Table 40: Rest of World Current & Future Analysis for
Microfinance by Institution Type – Banks and Non-Banks –
Independent Analysis of Annual Lending in US$ Million for the
Years 2020 through 2027 and % CAGR
Table 41: Rest of World Historic Review for Microfinance by
Institution Type – Banks and Non-Banks Markets – Independent
Analysis of Annual Lending in US$ Million for Years 2012
through 2019 and % CAGR
Table 42: Rest of World 15-Year Perspective for Microfinance by
Institution Type – Percentage Breakdown of Value Lending for
Banks and Non-Banks for the Years 2012, 2021 & 2027
IV. COMPETITION
Total Companies Profiled: 103
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Artificial Intelligence
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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