The number of ATMs in Singapore experienced a mix of fluctuations and growth from 2013 to 2023, starting at 2.73 thousand units in 2013 and reaching 3.5 thousand units by 2023. The most notable annual changes occurred in 2017 with a 13.59% increase and in 2016 with a 2.24% decrease. The compound annual growth rate (CAGR) over the past five years (2018-2023) was approximately 1.85%. Over the next five years (2024-2028), the number of ATMs is forecasted to grow at a slower pace, with an expected CAGR of 1.32%, projecting up to 3.81 thousand units in 2028.
Future trends to watch for include the widespread adoption of digital banking, a potential plateau or even a decline in ATM usage due to contactless payment methods, and the possible integration of more advanced technologies in ATMs to enhance user experience.