According to a new RBR report, Global ATM Market and Pro Forecast until 2024, ATM numbers decreased in four of the five largest markets in 2018.
More than half of the world’s ATMs are in only five countries; of these, China, the United States, Japan and Brazil registered a decrease, while in India, growth slowed considerably.
Although the result was the same, each of these markets had its own reasons for the elimination of ATMs. In China, the rapid adoption of cashless payments has contributed to a similar drop in ATM facilities. On the other hand in EE. UU Branch closures have led to fewer bank terminals, while the expansion of independent teller machine owners or their acronym in English (IAD) was hampered because some retailers chose to withdraw the machines instead of upgrading them to EMV standards.
In the same way, the Japanese market contracted for the first time since 2009, when banks try to improve operating efficiency through a greater exchange of ATMs. This reminds Brazil in recent years, although in 2018, the elimination of around 1,200 terminals in Brazil was mainly due to banks reacting to an increase in the use of digital channels.
Growth in developing markets will soften the global decline of ATMs
Despite these findings, the RBR study shows that ATM numbers have actually increased in most countries; in particular, financial inclusion initiatives continue to strengthen the growth of ATMs in the developing markets of Asia-Pacific, the Middle East, Africa and Latin America. Given that this pattern is expected to continue in the coming years, the global total of ATMs will be slowly reduced, to 3.22 million in 2024.