The findings were included in part of the Global ATM Market and Forecasts to 2018, a new report by research and consulting firm RBR. Should they be correct, the number of ATMs across the world could hit 3.7 million by this time.
According to the research, markets across Asia‑Pacific, the Middle East and Africa will experience one of the most significant growths, all expecting to see increases exceeding 75%. Central Europe and Latin America are also set to see a rise in ATM numbers, however this may not be quite as high other regions. Western Europe and North America are predicted very little growth in the sector.
According to the research, it will be China accounting for the largest share of the predicted growth in worldwide numbers, mainly due to the rapid expansion of its largest banks. ATM’s is the area have been in the highest demand to date, with these banks issuing around one million new cards to customers every day.
The new research proves that customers are still regularly making cash payments, despite the growing popularity of more modern methods such as mobile and contactless. There are many reasons that could be contributing to this, whether it be the preference of using cash for smaller transactions, or possibly for personal budgeting reasons.