News

Global ATM base set to fall as cash use declines in China

December 20, 2018

The number of ATMs installed worldwide is set to drop gradually from a peak of 3.28 million in 2017 to 3.23 million by the end of 2023, according to the RBR report, Global ATM Market and Forecasts to 2023.

However, this global figure is skewed by China; ATM markets in the majority of countries will expand. Excluding China, the number of ATMs is projected to grow from 2.5 million to 2.7 million.

After years of explosive growth in China, which is now home to one-quarter of the world's ATMs, the sector in that country went into reverse in 2017, as deployers withdrew 20,000 ATMs. 

China's burgeoning middle class has embraced digital payments enthusiastically and, as demand for cash drops, the number of ATMs in the country is expected to continue to shrink. 

The move away from cash will contribute to falling ATM numbers in several western European countries, as well, though this decline can be attributed to payment cards and bank branch closures, RBR research found.

Still, cash use remains strong in many parts of the world, and will be an important driver of ATM growth in Asian markets other than China, the Middle East and Africa, and Latin America. 

Deployers in Bangladesh, for example, are projected to increase their country's ATM total by more than 60 percent by the end of 2023 as the government pushes for greater financial inclusion and banks expand into more rural areas. 

"Convenient access to cash remains a priority for a great many customers around the world, and ATMs will continue to be a key cash delivery channel in the years to come," said Rowan Berridge, who led the research for Global ATM Market and Forecasts to 2023.