However, the report shows that, if China is excluded, the number of ATMs in the rest of the world is projected to grow, with the total across all other countries rising from 2.5 million to 2.7 million.
China is the largest ATM market and home to almost a quarter of the world’s ATMs. The ATM sector in the country went into reverse in 2017, with deployers withdrawing 20,000 ATMs. China’s middle class has embraced digital payments, and as demand for cash falls, the number of ATMs in the country is expected to continue dropping.
Nevertheless, as the report futher shows, cash usage remains strong in many parts of the world, and this is expected to be a driver of growth in other Asian markets, MENA and LATAM. Bangladeshi deployers, for example, are projected to increase their country’s ATM total by over 60% by the end of 2023, as the government pushes for greater financial inclusion and banks expand into more rural areas.
These figures and insights are based on RBR’s study, Global ATM Market and Forecasts to 2023, available upon request.
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