The number of ATMs per hundred thousand persons in South Asia has shown significant growth from 2013 to 2023, with the figure standing at 17.28 units in 2023. This growth has been fueled by various factors, including increased banking penetration and infrastructure investments. The year-on-year variations indicate periods of expansion, with notable acceleration in 2020, primarily driven by digital and financial inclusion initiatives.
In the last two years, the number of ATMs increased by 5.29% in 2023 and 3.51% in 2022, showing a steady growth trajectory. The compound annual growth rate (CAGR) over the past five years averaged 10.58%, underscoring consistent market expansion.
Forecasts suggest continued, albeit slower, growth with a projected five-year CAGR of 3.51% from 2024 to 2028, reaching 21.56 units per hundred thousand persons by 2028. This translates to a forecasted growth rate of 18.82% over the next five years.
Future trends to watch for include the integration of advanced technologies such as biometrics and AI in ATMs, an increased focus on cashless transactions potentially impacting ATM usage, and further financial inclusion efforts targeting rural and underbanked populations.
