Growth Returns to Global Markets
New Datos Insights research, based on proprietary ATM shipments data, has revealed a steady return to growth for global ATM shipments in 2025, with a 1% increase to 293,400 units. As in 2024, cash recyclers remained a global growth driver, accounting for 60% of the total. However, at the regional level, the picture differed markedly from recent years.
North America Drives Regional Growth
In North America, shipments to the U.S. increased by over 5,000 units (13%) in 2025, after falling sharply in 2024. Growth was driven by one major convenience store’s network expansion and ATM refresh activity at financial institutions, as credit unions and regional banks replaced aging devices with current-generation hardware, including under ATM-as-a-Service contracts. Canada also saw an increase of over 2,000 units, largely the result of one vendor’s expanded ATM partnership with a leading nonbank deployer.
Asia-Pacific Shipments Fall as China Pursues Cashless Alternatives
Asia-Pacific, despite remaining the largest region worldwide with almost half of all ATM shipments, saw a significant contraction in volume after a strong 2024. China, formerly the world’s largest ATM market, is moving toward digital payment methods such as WeChat Pay and Alipay, reducing demand for cash-handling hardware. As the installed base of ATMs shrinks, most shipments are now replacements or upgrades in the form of smart terminals and cash recyclers.
Other Asia-Pacific markets, including Bangladesh, Indonesia, Japan, and Pakistan, also saw a sharp decline in shipments in 2025. In Japan, increased orders associated with new banknote issuance tailed off, contributing to a reduction in volume. As in China, the expansion of digital payment methods is also affecting demand for ATMs; this is reflected in Japanese manufacturer Fujitsu’s planned exit from the ATM hardware market, with the company citing shrinking requirements due to the growth of cashless payments.
However, cash usage remains high in Bangladesh, Pakistan, and several other countries in the region. In these markets, deployers are expanding their ATM networks in an effort to improve cash access and financial inclusion, while at the same time shifting to multifunction terminals, partly in response to government mandates.
White Label Sector Contributes to Strong Growth in India
India is the strongest growth market in Asia-Pacific, underpinned by the expansion of the white-label sector and the significant presence of global vendors with manufacturing facilities in the country. Shipments to India increased by 5% in 2025. The insolvency of ATM outsourcing and payment solutions provider AGS Transact is expected to drive additional growth into 2026 as banks seek replacement providers and retender ATM contracts.
The region, therefore, presents a mixed picture, as India’s growth offsets China’s declining ATM shipments while developed and developing markets alike shift toward multifunction terminals.
Western Europe Faces Headwinds
In Western Europe, Turkey is the most rapidly developing market, with historically high shipment volume almost exclusively comprising cash recyclers. In 2025, the market saw a decline in shipments amid high inflation, currency volatility, and greater digitalization of banking services. Shipments also fell in eight other major Western European markets, most notably the Netherlands and Spain, contributing to an overall 8% fall in volume. This follows 30% growth in 2024.
Just six core Western European markets saw a rise in ATM shipment volume. France had the largest net increase, driven by a multibank cash-services initiative that deployed almost 2,500 ATMs by the end of 2025, with plans to scale the network to around 6,000 by the end of this year. Germany experienced a more modest rise in shipments, driven by independent ATM deployer (IAD) expansion, significant refresh activity by smaller deployers, and ATM modernization across Deutsche Bank and Postbank outlets.
Latin America and the Caribbean Decline Continues
ATM shipments to Latin America and the Caribbean (LAC) continued to decline in 2025, with Argentina the only major market to see significant growth in shipment numbers, as governmental ATM accessibility mandates have helped counteract some of the declines seen in other markets.
By contrast, shipments fell by 21% in Mexico, the region’s largest market, as one major bank cut back its ATM fleet amid growing migration to digital channels. This decline was partially offset, however, by growth at Banorte, which is expanding its ATM fleet in mostly off-site locations to maintain cash access in underserved communities. Mexico also saw a notable increase in shipments of nonrecycling deposit ATMs, contributing to strong global growth in nonrecycler shipments.
In Brazil, the region’s second-largest market, a fall in shipments was due in part to delays in large state-bank procurement orders, compounded by fleet rationalization by banks as the Pix platform drives growth in digital payments. Brazil’s large state-owned banking sector and the region’s high cash intensity have made LAC a key market for cash recycler adoption. In 2025, however, delays in government procurement tenders, combined with weak demand across the majority of markets, meant much of this potential remained unrealized.
Recycler Adoption Drives Growth in Middle East and Africa
Conversely, recycler adoption is a key driver of growth in the Middle East and Africa (MEA), where recycler shipments increased by 72% in 2025, double the growth rate of ATM shipments overall. Five of the seven key MEA markets saw shipments increase in 2025, including Saudi Arabia and Nigeria, as well as Egypt where a government drive for financial inclusion has boosted growth. As a result, MEA was the second fastest-growing region worldwide in 2025.
Central and Eastern Europe Leads Global Growth
Central and Eastern Europe (CEE) is the fastest-growing region, with ATM shipments almost tripling in 2025. The majority of this growth was concentrated in Russia, where a temporary easing in domestic ATM procurement quotas for state banks, alongside stabilizing yuan liquidity conditions and improved supply flows with Chinese vendors, supported a rebound in orders from Asian manufacturers. Several other CEE markets, including Kazakhstan and Belarus, also saw growth in shipments, particularly from Asian vendors. This reflects an ongoing reshaping of regional supply chains following Russia’s 2022 invasion of Ukraine.
Reshaping Global Supply Chains
A similar reshaping is also underway at a global level, as recently demonstrated by the diversification of manufacturing away from China toward alternative production bases in a climate of increasing political and operational risk. U.S. tariffs could further compound this process, with rising costs and uncertainty across global trade flows potentially incentivizing adjustments to the supply chain.
ATMs Remain Critical Infrastructure
Even amid trade disruptions, international tension, and accelerating digitalization, ATMs remain a critical component of financial infrastructure worldwide. The 1% rise in ATM shipments in 2025 indicates their continued relevance, particularly in markets where financial inclusion drives and sustained cash usage support demand, offsetting declines across economies that are more mature and digitally advanced.
At the same time, in developing and mature markets alike, it is cash-recycling ATMs that are the key driver of growth. In 2025, recycler shipments grew by 3%, faster than ATM shipments overall. This reflects the shift to self-service banking amid widespread branch closures, as deployers seek to reduce operational costs while maintaining essential cash access and services in rapidly evolving banking landscapes.
For more analysis on global ATM market trends, visit the Datos Insights Global ATM Intelligence Service at www.datos-insights.com/global-atm
This article was featured in the July/August 2026 issue of Banking & Payments Bulletin. Learn more and subscribe here.
