Forecast: Number of ATMs (Automated Teller Machines) in Middle East & North Africa

From 2013 to 2023, the number of ATMs per hundred thousand persons in the Middle East & North Africa has shown a general upward trend, increasing from 24.9 to 33.85 units. The year-on-year growth rate peaked in 2017 with an 8.03% increase and slowed down over the years, with a 2.11% increase in 2023. The Compound Annual Growth Rate (CAGR) also declined from 8.88% in 2013 to 1.96% by 2023.

Future forecasts suggest a continuing, though slower, growth with a projected 1.26% CAGR for the next five years leading to 2028, resulting in a 6.46% overall growth rate by 2028. This indicates a maturing market.

Future trends to watch for include:

  • The impact of digital banking on ATM usage.
  • Technological advancements in ATM functionalities.
  • Evolving consumer behavior towards cashless transactions.