Today, more than half the world’s ATMs are found in just five countries — China, the United States, Japan, Brazil and India.
Of these, the first four experienced a decline in numbers during 2018, while the fifth, India, saw a marked slowing of ATM growth, according to Global ATM Market and Forecasts to 2024, a new report from the London-based research and consulting firm, RBR.
Each market had its own reasons for the reduction in ATM numbers, RBR found:
Despite these findings, the study shows that ATM numbers have actually grown in most countries. Financial inclusion initiatives continue to bolster growth in developing markets across Asia-Pacific, the Middle East and Africa and Latin America.
Given the current pattern of ATM removals and installations, RBR said that the global ATM total is set to fall slowly, to 3.22 million in 2024.
That is roughly the same number of ATMs as in 2015, when the installed base stood at 3.2 million. In 2016, RBR forecast that the installed base would reach 4 million by 2021.