From 2013 to 2023, the number of ATMs in Singapore, measured in units per hundred thousand persons, exhibited fluctuations. Starting at 58.21 in 2013 and decreasing to 54.55 in 2023, the year-on-year variations were mixed, with the most significant decline observed in 2020 (-8.12%). The Compound Annual Growth Rate (CAGR) varied over the years, occasionally dipping into negative territory, with a notable -3.32% decline from 2022 to 2023. Forecasts from 2024 to 2028 suggest a slight positive trend with a 5-year CAGR of 0.09% and an overall growth rate of 0.44%.
Future trends to watch include the potential impacts of digital banking ascension, which may either stymie or spur the need for physical ATMs, and regulatory changes that could affect ATM deployment and usage, as well as technological advancements enhancing ATM functionalities making them more essential or redundant in different contexts.
