LONDON — Retail Banking Research Ltd. has published the latest edition of its biennial global ATM survey, "Global ATM Market and Forecasts," which this year makes predictions out to 2013.
According to a news release, 170-country report shows that in 2006, the global ATM market grew by more than ever before — undermining reports and projections about the inevitable emergence of a cashless society.
The global ATM base grew by more than 130,000 units in 2007 — considerably higher than the previous record of 119,000-unit growth seen in 2000. By 2013, RBR forecasts that the world will have more than 2.5 million ATMs.
The RBR survey shows that the fastest growth was seen in developing markets — the result of improved economic conditions and a greater investment in banking technology. But the global ATM market continues to be dominated by five countries — United States, Japan, China, Brazil and South Korea — that account for half of global installations.
Impressive growth occurred in several countries in Central and Eastern Europe. That region is expected to overtake Latin America, making it the fourth-largest ATM market by 2013.
In more mature ATM markets, growth in new locations has slowed, but there has been healthy demand for replacement units, often upgrading terminals to higher specifications and more advanced functionality. RBR's new study forecasts almost 2 million ATM shipments between 2008 and 2013; by the end of that period, ATM replacements are expected to constitute more than two thirds of the total.
