The number of ATMs in Indonesia has shown steady growth from 90.68 thousand units in 2014 to 113.14 thousand units in 2023. The year-on-year growth rates fluctuated significantly, with a high of 9.49% in 2015, stabilizing over recent years to 1.08% in 2023. The compound annual growth rate (CAGR) has similarly varied, with a notable decline from 3.59% in 2019 to 0.97% in 2022, and seeing a slight improvement to 1.14% in 2023. Forecasts predict a continued increase in ATM installations, expecting the number to reach 118.81 thousand units by 2028, reflecting a CAGR of 0.77% for the next five years.
- YoY growth in 2023: 1.08%
- CAGR over the last 5 years (up to 2023): 1.14%
- Forecasted CAGR from 2024-2028: 0.77%
- Forecasted growth rate from 2024-2028: 3.93%
A key future trend to watch is the potential plateauing of ATM installations due to the increasing adoption of digital banking and mobile payment solutions, which could significantly impact the demand for physical ATMs in the long term.
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