ATM Statistics By Market Size, Share Of Bitcoin ATM Producers, Resident PSPs, Number Of ATMs and Facts
Updated · Oct 25, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- ATM Global Market Size
- Market Share Of Bitcoin ATM Producers Worldwide
- Number Of ATMs Provided By Resident PSPs
- Number Of ATMs In India
- ATM Transaction Statistics
- Crypto ATM’s By Country
- Number Of Worldwide ATMs And Branches
- ATM Usage Trends
- ATM Security
- Cost Of ATM Operations
- Future Of ATMs
- Conclusion
Introduction
ATM Statistics: In 2024, the importance of the Automated Teller Machine (ATM) industry persists in the global financial services sector, especially where digital banking is still largely inaccessible. The growing acceptance of mobile payment systems and online banking notwithstanding, ATMs, however, still maintain core services, including cash withdrawals, deposits, and balance inquiries.
The analysis below is an analysis of ATM statistics usage, trends, and the economic contribution of ATMs in 2024.
Editor’s Choice
- ATM statistics show that across the globe, there are more than 3.2 million ATMs as of 2020. The valuation of the global ATM services market was around USD 20 billion in 2020.
- As of 2020, the number of ATMs worldwide remained almost constant, with an approximate density of 41.24 machines for every 100,000 individuals.
- Predictions have slated that ATM global market will reach $28.82 billion by the year 2026.
- According to an ATM statistics report published in 2021, approximately 40% of the population in the US visits an ATM 8 -10 times a month.
- Annually, around 10 billion ATM operations are carried out in the USA. The growth of Smart ATMs has become an important phenomenon within the ATM sector.
- The Asia-Pacific area is at the forefront of global ATM exploitation.
- As of the year 2021, total transactions processed through ATMs all over the world hit 12.6 trillion dollars.
- Expanding markets are beginning to adopt ATM installations at an increasing rate, with growth in the ATM industry projected to be most rapid in China and India over the next few years.
- The banking industry is the major consumer of ATMs, with an estimated 65% of the total transactions carried out in the world through ATMs.
- The global ATM market is further classified into two primary categories: in-network, which is positioned within banks, and out-of-the-network, which is outside banks.
- ATM statistics reveal that presently, there are over 2.1 million in-network ATMs and more than 1 million out-of-the-network ATMs functioning across the globe.
- Over the years, cash transactions have gradually reduced owing to factors such as crime and the fear of corruption.
- In addition, the growth of the ATM industry, particularly in developed economies, is facing stiff competition from the emergence and widespread adoption of online and mobile banking.
ATM Global Market Size
(Source: enterpriseappstoday.com)
- ATM statistics indicate that the valuation of the worldwide automated teller machine (ATM) market was estimated at USD 22.08 billion in 2020 and is anticipated to rise to USD 28.82 billion by 2028, with an approximate Compound Annual Growth Rate (CAGR) of 4.8% during the year 2021 to 2028.
- A growing emphasis on intermediation in the banking industry in both mature and fast-emerging economies is a fundamental factor stimulating growth in the ATM market.
- In the past ten years, the world’s banking sector has undergone significant technological changes.
- These days, however, many banks are faced with increasing threats to security and new regulations and demands from their customers.
- Banks can do this through ATMs without incurring exorbitant expenses on the provision of such services.
- That enables banks to reach out to more clients, even those far from the banks’ branches, through availing services that overcome the limitations of traditional banking, such as cumbersome paperwork, restricted banking periods, and physical presence in a bank.
- This has improved banking systems for the benefit of the banks and consumers alike, as there is less initial and operational cost with reaching out to more customers, which has led to more ATM installation.
- Additional protective measures, including fingerprint scans, biometrics, two-step verification, and others, are being adopted to prevent illegal activities. Banks continue to make changes in risk policies to cope with the threat posed by counterfeit or stolen cards.
- For instance, in January 2019, the Reserve Bank of India ordered all banks to migrate from magnetic stripe cards to EMV chip cards, which improved security features and reduced the chances of fraud.
- Banks are also deploying other advanced security solutions, such as intelligent anti-skimming devices, which help monitor system breaches and cover the risk of unauthorized access to card and PIN information.
(Reference: statista.com)
- Two manufacturers dominate the global Bitcoin ATM market in terms of installations.
- A comparative analysis of several producers indicates that as of June 21, 2024, General Bytes is the leading Bitcoin ATM manufacturer, holding approximately 31% of the worldwide market share.
- This leadership was achieved by deploying their ATMs in around 12,000 locations globally, according to the source.
Number Of ATMs Provided By Resident PSPs
(Source: statista.com)
- The number of ATMs (automated teller machines) in Germany saw significant fluctuations between 2000 and 2023.
- ATM statistics indicate that by 2023, there were around 77.5 thousand ATMs in operation, a slight decrease from 79 thousand the previous year.
- Despite this decline, cash remains an important payment method in German retail, accounting for nearly 40% of all retail transactions in 2022.
Number Of ATMs In India
(Source: thehindubusinessline.com)
- As per the ATM statistics of The Reserve Bank of India, the installed base of ATMs in India has seen slow growth since the economic year of 2017.
- For instance, as of February 2024, Indian banks had installed only 2.19 lakh ATMs, which is just an increase of 11 % from February 2016, when the number stood at 1.97 lakh ATMs installed at both on-site (within the bank premises) and off-site (outside the bank premises).
- A close examination of the statistics indicates that in the year 2022, there was a consistent fall in the number of off-site ATMs in India.
- In December 2024, India had around 92 thousand off-site ATMs, a decrease from the 95 thousand off-site ATMs recorded in December 2023 and the same 92 thousand off-site ATMs recorded in December 2022.
- Major Banks such as Axis Bank, ICICI Bank, Union Bank Of India, Indian Overseas Bank, and Bank of Baroda have also reduced their number of off-site ATMs.
ATM Transaction Statistics
- An ATM is utilized eight times daily on average.
- ATM statistics show that in America alone, ATMs dispense cash worth $600 billion every month, while about 90% of banking customers only use ATMs to withdraw cash.
- Within one minute, an average ATM transaction can be completed in about 45 seconds, with only 10% of the deals entailing non-purchase services like checking balances.
- Diagrams display that ATMs are accessed more in poorer regions than in rich areas, and about 30% of the transactions are done after working hours or on weekends.
- The peak period of ATM usage is between hours eleven and one.
- Almost three-quarters of the population withdraw cash from the ATMs at least once a month, while the withdrawal for casinos is greater than 300 dollars.
- ATM transactions are not only one-sided as in most cases (33%), non-bank customers make use of bank ATMs.
- Out of the aforementioned figure, the estimated charge to be incurred by a user of non-company bank ATMs is approximately 4.64 US dollars.
- As for Korea, one South Korean makes roughly 6.5 ATM withdrawals, whilst 40% of ATM transactions in the US take place on-site bank ATMs.
- In Australia, ATM systems dispense cash exceeding 700 billion dollars each year, and it costs the banks an average of 2.20 dollars for every ATM cash withdrawal.
- In the U. S, the average extra fee incurred while withdrawing cash from an ATM that is not found in their network is three dollars and nine cents.
- In Nigeria, over 70% of ATM transactions are cash withdrawals, while in Germany, the average cash withdrawal value is 128 Euros.
- In Canada, the average amount withdrawn is CAD 124. In Argentina, more than half of ATM transactions occur on weekends.
Crypto ATM’s By Country
(Reference: statista.com)
- As per the ATM statistics ranking found on Crypto Head, the USA attained a 7.3/10 rating primarily owing to its reach and growing network of cryptocurrency ATMs.
- In 2021, 17,436 crypto ATMs were installed across the country, albeit this figure is relatively small when one considers the 470k conventional ATMs recorded in the USA in 2018.
- Nevertheless, even if the number of countries with such ATMs is limited, the USA remains very much ahead of the rest of them, with the nearest Canada coming in second place.
- The country that had the first ever crypto ATM, Canada, which had no 1,464 machines, was next, followed by the UK with 200 such machines.
- A cryptocurrency ATM is a physical kiosk that allows individuals to exchange cash or debit/credit cards for cryptocurrencies.
- Some of the crypto maps are two-way, meaning that users can also turn in digital currencies for cash.
- There are growing concerns over the crypto ATM network as regards its use for money laundering, a problem that came into focus during the pandemic when cross-border freights to and from the US and Mexico were curbed.
- It was reported that such criminals used virtual currencies to transfer large amounts of money overseas.
- Though there have been no figures provided, the authorities seem to be taking it seriously.
- In British Columbia, where the first crypto ATM was installed, there has been a proposal to ban those machines because of fears of money laundering.
Number Of Worldwide ATMs And Branches
(Reference: datos-insights.com)
- Three years into 2020, the count of Automated Teller Machines (ATMs) globally stood at 3.15 million.
- According to ATM statistics, the number was relatively smaller – 2.96 million in 2023.
- There seems to be a steady shrinkage, which is in the region of 0.19%, mostly attributable to the changing trends in banking where mobile banking, contactless payments, and digital wallets have become commonplace, especially in the developed world.
- While this trend indicates a deterioration in the number of ATMs available, in some geographies, especially in developing regions such as India and Africa, where people do not have easy access to bank digital systems, ATMs are still very important.
- There is still a tendency for ATMs to be in higher demand in underdeveloped markets, which plays a crucial role in maintaining their numbers globally.
- In 2020, there were an estimated 1.04 million bank offices around the planet. However, these figures plunged to 1 million proportionate to another 0.04% reduction, which happened during three years.
- The reason for this is that it is becoming more common to use the Internet and mobile banking, which aims at lessening the necessity of having a physical presence.
- As banks are operating more of their services online, they have closed many branches since they do not see it plausible to incur the costs of running the branch.
- The pattern is more evident in the advanced markets of North America and Europe due to customers’ preference for banking through digital ways instead of physically visiting the bank.
ATM Usage Trends
- Recent ATM statistics show that ATM transaction volumes globally have soared to around $14 trillion a year. That is approximately $38 billion worth of transactions completed every single day.
- As a research study assesses, more than half (65%) of ATM users in the year 2024 still prefer using cash for daily payments, with only 35% of people not carrying cash with them opting for some form of contactless or online payments.
- In developing nations, ATMs still play a vital role in making cash available to 70% of the population who are ‘cash-only’.
- Whereas in developed countries like America and Germany, usage of ATM services has decreased by approximately 5% due to the growth of fintech applications.
ATM Security
- The focus on ATM security has significantly increased in 2024, as financial institutions worldwide suffered ATM fraud losses of approximately $1.8 billion in 2023.
- This represents a 4% increase from the previous year due to advances in card skimming techniques and cyber attacks.
- Financial institutions have also spent a lot of money on improving security, with 25% of all new ATM placements in 2024 being biometric ATMs and contactless card transactions.
Cost Of ATM Operations
- The annual costs incurred in running an ATM hardware, such as maintenance, cash filling, and security, are approximately $6,500.
- Nonetheless, each ATM is estimated to earn revenue of about $12,000 per year, so they are attractive to banks and independent ATM entrepreneurs.
- For ATM users who are not customers of the bank and use ATMs, the average non-customer withdrawal is charged $2.60 but in some locations, this may reach the maximum of $5.00. This helps the owners of ATMs to make a profit from their business.
Future Of ATMs
- Although it is projected that the use of ATMs will diminish in most digitized areas, it will still remain an important component of infrastructure in developing countries.
- Smart ATMs, which provide loan application services, mobile top-ups, and even cryptocurrency transactions, among other things, will be a key factor in the evolution of the industry in the years to come.
Conclusion
In summation, the ATM sector will still play an integral part in the financial system globally, even in 2024, despite the increasing embracing of cashless transactions. ATMs still resolve the inconsistencies existing in the traditional methods of banking and the contemporary approaches that are digital.
Cash still seems to be the most favored payment mode for small services rendered among all age groups since they are easy to use and accepted worldwide. Most developing and underdeveloped countries have a good number of people without access to banking services. Thus, cash transactions are here to stay.
These ATM statistics accentuate the need for ATMs in the payment industry, and as a result, their primary function of providing cash is maintained.
Sources
FAQ.
The ATM services industry was estimated to be worth over USD 20 billion in 2020. It is expected to grow to over USD 28.82 billion by 2028, with a compound annual growth rate (CAGR) of almost 4.8% from 2021 to 2028.
ATMs play significant roles in developing and less developed countries, primarily due to the fact that around 70% of the population, which consists entirely of cash transactions, can access cash. They help in the areas that lack digital banking facilities, providing a very basic service.
In 2021, the US had 17,436 crypto ATMs and around 470,000 traditional ATMs. In Canada, there are 1,464 crypto ATMs, while in 2023, in Germany, the number of operated ATMs was around 77,500.
Improved security measures such as biometric ATMs, two-step verification, and smart anti-skimming units are being embraced by financial institutions quickly. In 2024, for instance, 25% of all new ATM installations are predicted to be biometric ATMs due to the sector’s increased focus on security, which is a result of high fraud-related losses.
Therefore, the total annual operating cost of an ATM, including maintenance, cash replenishment, and protection, is about $6500. However, it is estimated that every ATM generates about $12000 in revenue every year, making them appealing to banks as well as independent businessmen. Moreover, a fee for a client who is not the owner of the ATM system and uses it to carry out transfers is approximately $2.60 up to $5.00 per withdrawal.
Saisuman is a professional content writer specializing in health, law, and space-related articles. Her experience includes designing featured articles for websites and newsletters, as well as conducting detailed research for medical professionals and researchers. Passionate about languages since childhood, Saisuman can read, write, and speak in five different languages. Her love for languages and reading inspired her to pursue a career in writing. Saisuman holds a Master's in Business Administration with a focus on Human Resources and has worked in a Human Resources firm for a year. She was previously associated with a French international company. In addition to writing, Saisuman enjoys traveling and singing classical songs in her leisure time.
