The number of ATMs in Myanmar has grown substantially over the past decade, reaching 8,450 units per hundred persons in 2023. The initial boost in ATM installation saw extraordinary annual growth rates, peaking at 577.78% in 2013. Although the rate of increase has slowed, the CAGR remained robust at 8.46% over the last five years. For the next five years, growth is forecasted to decelerate, with a projected CAGR of 3.69%, culminating in 10,690 units per hundred persons by 2028.
Future trends to watch for:
- Potential technological advancements in digital banking might reduce the need for physical ATMs.
- Economic factors and urbanization rates could influence the rate of new installations.
- Regulatory policies and initiatives by financial institutions to enhance financial inclusion might drive the demand for ATMs.
