RBR, a London based consultancy, has released a new report that sheds light on the anticipated slowdown in global ATM growth. According to the new report, entitled Global ATM Market and Forecasts to 2023, the number of ATMs installed worldwide is poised to drop off gradually to from 3.28 to 3.23 million by the end of 2023.
However, as RBR analysts significantly noted, the figure is skewed by trends in China. Although China is the world’s largest ATM market, home to almost a quarter of the world’s ATMs, after years of explosive growth the country went abruptly into reverse in 2017. According to the latest available figures presented by RBR, China’s ATM operators withdrew an estimate 20,000 ATMs as the country’s growing middleclass embraced digital payments. In fact, if China is excluded, the number of ATMs in the rest of the world is projected to grow.
“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 RBR’s research.
RBR is a strategic research and consulting firm with three decades of experience in banking and retail automation, cards and payments. For additional information, visit the RBR website at: www.rbrlondon.com/