ATM Statistics 2024: Key Trends and Market Insights for the Global ATM Industry
Barry Elad
Updated · Nov 25, 2024
In today’s rapidly evolving digital world, Automated Teller Machines (ATMs) continue to play a crucial role in financial services. Despite the surge in digital payments and the adoption of cashless transactions, ATMs remain an essential component of the global banking infrastructure. Whether you’re in a bustling city or a remote town, chances are you’ll find an ATM nearby, offering a vital touchpoint for accessing cash and other banking services. But how has ATM usage evolved in the face of digital advancements? Let’s dive into the latest ATM statistics for 2024 to explore global trends, market size, and the pivotal role these machines still play in our financial ecosystem.
Editor’s Choice: Key Global Trends in ATM Usage
- Worldwide ATM installations are expected to decrease slightly by 1.5% in 2024, as digital payments grow in popularity across multiple regions.
- Global ATM withdrawals remain robust, with over $13 trillion processed in cash withdrawals in 2023, showing the enduring relevance of cash in everyday transactions.
- The Asia-Pacific region continues to lead in ATM deployments, accounting for nearly 50% of all global installations, driven by countries like China and India.
- Cash remains king in developing economies, where 87% of total consumer transactions still occur using physical cash.
- By contrast, Western Europe is expected to see a reduction in ATM usage by 7% in 2024, as digital banking becomes more entrenched.
- The rise of cardless ATMs is accelerating, with 20% of global ATMs now supporting mobile-based withdrawals, which is expected to reach 30% by 2025.
- Contactless ATM transactions grew by 22% in 2023, highlighting consumer demand for faster, safer, and more convenient cash access methods.
| Category | Data/Trend |
| Decrease in global ATM installations | 1.5% decrease in 2024 |
| Total cash withdrawals globally in 2023 | $13 trillion |
| Share of ATM installations in Asia-Pacific | 50% of global installations |
| Cash transactions in developing economies | 87% of total consumer transactions |
| Decline in Western Europe ATM usage | 7% decrease in 2024 |
| ATMs supporting mobile withdrawals (2024) | 20% globally (expected 30% by 2025) |
| Growth in contactless ATM transactions (2023) | 22% growth |
ATM Market Size & Trends
- The global ATM market was valued at approximately $19.9 billion in 2023, and it is projected to grow modestly to $20.3 billion by 2025 despite the decline in machine installations.
- The number of ATMs worldwide is predicted to drop from 3.1 million in 2023 to around 2.95 million by 2025, as banks consolidate machines to optimize costs.
- ATM outsourcing services are expected to grow by 12% in 2024, as financial institutions increasingly rely on third-party operators for maintenance and cash management.
- The smart ATM segment, featuring enhanced security features and video banking capabilities, is forecast to expand at a 5.6% compound annual growth rate (CAGR) from 2024 to 2028.
- Cryptocurrency-enabled ATMs continue to see rapid growth, with over 35,000 installations globally by 2024, driven by rising consumer interest in Bitcoin and other cryptocurrencies.
- The United States leads the world in cryptocurrency ATMs, boasting 82% of global installations as of the start of 2024.
- Despite the rise in digital banking, 70% of consumers globally still prefer ATMs for basic banking services, including cash deposits, balance inquiries, and bill payments.
General ATM Statistics and Trends
- As of 2024, there are approximately 2.95 million ATMs operating globally, reflecting a 3% decrease compared to 2023 as banks shift toward digital-first strategies.
- ATM transaction volumes worldwide remained steady, with an estimated 88 billion transactions conducted in 2023, indicating that consumers still rely heavily on cash access.
- The average cash withdrawal per ATM transaction increased by 2.1% in 2023, reaching $152 per transaction as consumers prefer fewer trips to ATMs.
- In the United States, 90% of households reported using an ATM at least once per year, showing the continued relevance of physical cash access points.
- Over 60% of banks globally have integrated cash recycling ATMs, which reuse deposited cash for withdrawals, reducing operational costs and improving efficiency.
- ATM fraud losses globally were estimated at $1.6 billion in 2023, with skimming remaining the most common type of fraud, despite improved security technologies.
- In regions with a growing elderly population, ATM usage among seniors has increased by 15% over the past five years, driven by accessibility features like larger screens and voice commands.
Regional Insights
- Asia-Pacific leads the world in total ATM installations, with over 1.4 million machines in operation, comprising 50% of the global total.
- In North America, ATM installations are expected to decline by 5%, with banks focusing on consolidating ATM networks in favor of digital solutions.
- Latin America saw a 7% increase in ATM transactions, driven by economic instability and a preference for cash in countries like Brazil and Argentina.
- In Europe, Germany stands out with a significant reliance on cash, where 75% of point-of-sale transactions are still conducted using cash, despite the rise of digital payment solutions.
- Africa is projected to see a 10% growth in ATM deployments, as financial inclusion efforts expand access to banking in rural regions.
- Middle Eastern countries like Saudi Arabia and the UAE are seeing a surge in ATM usage despite heavy investment in digital payments, with cash withdrawals increasing by 8%.
- India continues to maintain one of the largest ATM networks, with over 250,000 machines, and saw a 6% rise in ATM withdrawals, largely due to the country’s ongoing push toward financial inclusion.
Solution Insights
- The adoption of biometric authentication for ATM transactions is on the rise, with 12% of ATMs globally now equipped with fingerprint or facial recognition capabilities.
- ATM as a service (ATMaaS), which allows smaller banks to outsource ATM operations, is projected to grow by 15% in 2024, offering cost savings and enhanced service delivery.
- Mobile-enabled ATMs, which allow users to complete transactions using their smartphones rather than cards, accounted for 20% of global ATMs in 2023 and are expected to increase by 50% by 2025.
- Solar-powered ATMs are seeing rising adoption in rural areas of Africa and South Asia, offering sustainable banking solutions where electricity access is limited.
- Blockchain integration in ATMs is on the rise, particularly in cryptocurrency-enabled ATMs, with 5,000 new installations expected in 2024.
- Smart ATMs with video teller services are being rolled out by major banks, allowing customers to interact with a remote teller via a video call. This technology is projected to grow by 7% annually through 2028.
- Contactless ATMs, which utilize NFC technology for withdrawals, are expanding rapidly, with 40% of new ATMs in 2024 expected to have this feature, in response to the increased demand for hygienic, touchless options.
Key Companies & Market Share Insights
- Diebold Nixdorf and NCR Corporation continue to dominate the global ATM market, with a combined market share of over 55% as of 2023.
- Fujitsu, a key player in the Asia-Pacific region, has a 20% share of the Japanese ATM market, driven by its advanced technology solutions.
- Hitachi-Omron Terminal Solutions holds a significant share of the Asian ATM market, particularly in India and China, where it supplies cash recycling ATMs.
- Hyosung, based in South Korea, is emerging as a global competitor, capturing 15% of the US market for retail ATMs.
- Cardtronics, one of the largest ATM operators in the US, managed a network of over 285,000 ATMs worldwide by 2023, with a focus on convenience store and supermarket locations.
- Bitcoin Depot, a leader in cryptocurrency ATMs, saw a 30% increase in installations in 2023, expanding its footprint to North America and Europe.
- Euronet Worldwide, a major operator in Europe, processed over 2 billion ATM transactions in 2023, securing a 10% share of the European ATM market.
ATM Usage and Cash Withdrawal Trends
- Despite the rise of cashless payments, 60% of all consumer transactions worldwide still involve cash, highlighting the enduring need for ATMs.
- Cardless ATM transactions increased by 15% in 2023, driven by the convenience of mobile banking apps allowing users to withdraw money without a physical card.
- Contactless ATM withdrawals grew by 18% in 2023, particularly in North America and Europe, as more machines now offer tap-and-go services for debit cards and mobile wallets.
- Cryptocurrency ATMs processed over $1 billion in transactions in 2023, with the number of users growing by 40% as more individuals seek easy access to digital currencies.
- The average frequency of ATM visits has declined, with consumers making 10% fewer trips in 2023 compared to previous years, but withdrawing larger amounts per transaction.
- Consumer demand for 24/7 access to banking services continues to drive ATM usage, with 85% of ATM transactions occurring outside traditional banking hours.
- Developing countries still see high usage rates, with India and Brazil reporting that 75% of their population uses an ATM at least once a month for basic banking needs.
Impact of Digital Payment Systems on ATM Usage
- The rise of mobile payments and digital wallets has led to a 5% decline in ATM usage across major economies like the US, UK, and Germany in 2023.
- Peer-to-peer (P2P) payment platforms, such as Venmo and Zelle, are increasingly replacing the need for cash transactions, reducing the need for frequent ATM visits by younger generations.
- Contactless payment systems, such as Apple Pay and Google Wallet, contributed to a 10% drop in cash withdrawals in developed countries, as digital convenience took precedence.
- QR code-based transactions, widely adopted in China and expanding globally, are making cash withdrawals less necessary, particularly in urban areas.
- In Sweden, where 98% of the population uses cashless methods, ATM usage has dropped by 80% over the past decade, showcasing the global trend toward cashless societies.
- Central Bank Digital Currencies (CBDCs), under pilot phases in countries like China and the Bahamas, are expected to further reduce the need for physical cash, impacting global ATM demand.
- Africa is seeing a slower transition, with over 90% of all consumer transactions still involving cash, showing that despite the global rise of digital payments, ATMs remain critical for many regions.
ATM Security and Fraud Prevention Trends
- ATM fraud saw a slight increase in 2023, with global losses reaching $2.1 billion, despite improved security measures.
- Skimming attacks remain the most common type of ATM fraud, accounting for 80% of reported cases, though EMV chip technology has reduced incidents in many regions.
- Biometric security solutions, such as fingerprint and facial recognition, are now deployed in 15% of global ATMs, helping reduce unauthorized access.
- End-to-end encryption is becoming a standard for ATMs, with 65% of new installations expected to include this feature to protect consumer data during transactions.
- Remote monitoring systems, allowing banks to detect anomalies in real time, are projected to reduce ATM fraud losses by 10% in 2024.
- The adoption of anti-skimming devices has grown, with 85% of ATMs in Europe, now featuring these tools, significantly lowering fraud rates across the continent.
- AI-driven fraud detection systems are expected to reduce ATM fraud by an additional 15% by 2025, as machine learning algorithms improve the identification of suspicious activity.
Recent Developments in the ATM Industry
- ATM manufacturers like NCR Corporation and Diebold Nixdorf are focusing on developing modular ATMs, which allow for faster maintenance and updates, reducing downtime by 30%.
- Video-enabled ATMs, which allow customers to interact with bank tellers remotely, saw a 12% rise in deployments in 2023, offering more personalized service without needing to visit a branch.
- The rise of self-service kiosks in retail locations, allowing customers to withdraw cash while shopping, grew by 7% globally in 2023, showing a shift toward more versatile cash access points.
- Bitcoin and cryptocurrency ATMs are growing rapidly, with 10,000 new machines expected to be installed worldwide in 2024, as more consumers adopt digital currencies.
- Eco-friendly ATMs with lower energy consumption are being developed, with 20% of new ATMs featuring solar power capabilities in remote regions by 2025.
- ATM recycling initiatives are gaining traction, with 30% of decommissioned ATMs now being repurposed or recycled as part of sustainability efforts across the industry.
- Hybrid ATMs that can handle cash, digital, and cryptocurrency transactions are expected to make up 25% of the global market by 2025, blending traditional and modern financial services.
Conclusion
The ATM industry remains an essential part of the global financial landscape, even as digital payment systems and cashless transactions grow in prominence. ATMs continue to evolve, integrating new technologies such as biometrics, cryptocurrency access, and contactless transactions, which enhance security and convenience. While ATM installations may decline in developed regions, the demand for cash services in emerging markets and the growing adoption of smart ATMs indicate that the industry is far from obsolete. As we look to the future, ATMs will continue to bridge the gap between traditional banking and modern, digital-first solutions.
Sources
Barry Elad
Barry Elad is a dedicated tech and finance enthusiast, passionate about making technology and fintech concepts accessible to everyone. He specializes in collecting key statistics and breaking down complex information, focusing on the benefits that software and financial tools bring to everyday life. Figuring out how software works and sharing its value with users is his favorite pastime. When he's not analyzing apps or programs, Barry enjoys creating healthy recipes, practicing yoga, meditating, and spending time in nature with his child. His mission is to simplify finance and tech insights to help people make informed decisions.
