New research reveals robust growth in recycling ATM deployment worldwide, despite contraction in the global ATM market.
Self-service optimisation drives bank investment in recycling technology
Streamlining the self-service channel remains a key priority for banks across the world, and new recycler installations are the cornerstone of this strategy. According to Global Deposit Automation and Recycling – the latest research by Datos Insights – the number of recyclers installed worldwide is set to rise by almost 20% over the next five years, reaching more than 1.2 million by 2029.
This shift toward sophisticated self-service technology is driven by banks’ need to reduce operational costs while improving service delivery. Recycling ATMs address these challenges by automating deposit handling, reducing teller dependency, and optimising cash-in-transit (CIT) operations through cash recycling capabilities.
Regulatory standards drive recycler installations in India
Asia-Pacific is the largest regional recycler market, accounting for nearly three quarters of machines worldwide. The region is poised for continued expansion, with Asia-Pacific projected to contribute the highest number of new recyclers over the next five years, with the installation of an additional 70,000 devices.
India stands out as the primary growth driver, with banks rapidly deploying recycling ATMs to meet regulatory requirements and enhance customer service. Indonesia is another key growth area, with financial institutions seeking to migrate both consumer and SMB deposits away from the teller counter.
North America is the second-largest growth region, with over 60,000 new recycling ATMs forecast for deployment, predominantly in the USA. Banks are actively upgrading their deposit ATM fleets to include recycling capability to optimise cash handling efficiency.
Global shift towards recyclers presents new opportunities for hardware vendors
To meet the demand for new recyclers, vendors are expected to ship nearly 900,000 devices to world markets over the next five years. The majority will be destined for the largest growth regions, Asia-Pacific and North America. Regional preferences show distinct patterns: Asia-Pacific favours note-only devices, while North America requires integrated note and cheque handling capabilities, reflecting higher SMB cheque usage in the USA.
Rachel Kelley, who led the Global Deposit Automation and Recycling study, commented: “Recyclers are expected to account for well over half of all ATM shipments worldwide over the forecast period. With the global ATM market shrinking, the recycler sector offers vendors the most compelling opportunities for growth.”
Notes to editors
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