The number of ATMs in South Africa has shown a steady increase from 26.13 thousand units in 2013 to 33.74 thousand units in 2023. Over recent years, we observe a diminishing trend in the year-on-year growth rate, from 14.11% in 2013 to 1.68% in 2023. The last observed Compound Annual Growth Rate (CAGR) over five years was 1.9%. Forecasts indicate an expected increase to 36.36 thousand units by 2028, with a five-year forecasted CAGR of 1.18% and a total growth rate over the period of 6.06%.
- In 2023, the number of ATMs stood at 33.74 thousand units.
- Year-on-year variations: a declining pattern, from 14.11% in 2013 to 1.68% in 2023.
- Last 5-year CAGR: 1.9% (2018-2023).
- Forecasted 5-year CAGR: 1.18% (2024-2028).
- Forecasted total growth rate: 6.06% (2024-2028).
Future trends to watch for include the increasing adoption of digital banking solutions, potential impacts of fintech development, and shifts in consumer behavior that may influence ATM usage and demand. Additionally, regulatory changes and advancements in financial inclusion could further shape the landscape of ATM deployment in the region.
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