Bank / Credit Union

ATM market to reach $29.89B by 2028

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August 17, 2021

The global ATM market will reach $29.89 billion by 2028, according to a report by Grand View Research. It will also grow at a compound annual growth rate of 4.9% from 2021 to 2028.

The demand for automation in banking is boosting ATM adoption in developed and emerging countries. The Asia-Pacific market held the largest market share in 2020 and will continue to hold that role in the coming years, according to the report.

The expansion of smart ATMs in India, China and Japan will also fuel growth. However, digital payments may hamper market growth in the coming years, according to the report.