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

The number of ATMs per one hundred thousand persons in the Philippines has seen varied growth since 2013, with significant growth early on, decelerating in recent years. In 2023, it stood at 29.3 ATMs per hundred thousand persons, showing a slight decline from previous years.

Looking back at the trends:

• Between 2013 and 2015, the growth rates were robust, with double-digit annual increases.
• From 2016 onwards, the year-on-year growth rate gradually decreased, signifying market saturation.
• By 2021, growth became negative, indicating the beginning of a declining trend.
• In 2022 and 2023, the year-on-year variations remained near zero or negative.

Examining the compound annual growth rate (CAGR):

• From 2013 to 2017, the CAGR was high, reflecting strong expansion.
• From 2018 to 2023, the CAGR significantly dropped, indicating slowed expansion and market saturation.

Future trends to watch for:

• A projected steady decline in ATM numbers per hundred thousand persons from 2024 onwards, with forecasts showing a slight reduction through 2028.
• A negative five-year CAGR of -0.16% suggests a continuing decrease in ATM density.
• Factors such as digital banking and fintech innovations could further impact the need for physical ATMs.