Forecast: Number of ATMs (Automated Teller Machines) in Maldives

The number of ATMs (Automated Teller Machines) per hundred thousand persons in the Maldives exhibited a steady growth from 19.86 units in 2013 to 43.4 units in 2023. The annual growth rate fluctuated significantly, peaking at 16.25% in 2017 and recording the lowest year-on-year growth rate of 1.05% in 2015. Over the past five years, the CAGR (Compound Annual Growth Rate) settled at 6.41% by 2023.

For future trends, the forecast indicates continued growth, with the number of ATMs expected to reach 52.49 units per hundred thousand persons by 2028. This implies a forecasted 5-year CAGR of 3.02%, highlighting a more moderate, yet positive, growth trajectory. Importantly, this suggests a transition from rapid expansion to more stable and sustained growth.

Future trends to watch for:

  • The impact of digital banking and mobile financial services on ATM demand.
  • Potential regulatory changes and their effects on ATM deployment.
  • Technological advancements in ATM functionality and security features.
  • Regional economic conditions influencing ATM growth rates.

Top Countries about ATM