Why ATMs Are Still Growing — and What That Means for Your Business

For decades, ATMs have provided fast, reliable access to cash. Even as mobile payments and digital wallets have become more common, ATMs continue to play an essential role in the financial ecosystem. And the numbers tell the story clearly: ATMs are not only here to stay — they are growing.

According to recent research, the global ATM services market is projected to expand from $21.8 billion in 2024 to $29.4 billion in 2029, growing at a compound annual growth rate (CAGR) of more than 6%. For financial institutions and retailers, this growth signals both new opportunities and new responsibilities in ensuring secure, uninterrupted access to cash. 

Why ATM Demand Keeps Rising

Several factors are driving the steady expansion of ATM services: 

• Around-the-clock access: Consumers still want the flexibility of withdrawing cash anytime, anywhere. ATMs remain the most reliable solution for this demand.
• Financial inclusion: In many regions, ATMs provide the only access point to banking services for rural or underserved populations.
• Urbanization and global growth: Rapid population growth and higher banking penetration in emerging economies are fueling installation of new ATMs.
• Technology investments: Contactless and cardless transactions, predictive maintenance powered by AI, and video banking are reshaping the customer experience.
• Sustainability focus: New modular ATM designs allow banks to extend equipment lifespans and reduce electronic waste. 

Together, these factors underscore that ATMs remain a cornerstone of modern banking, and their evolution makes them more important than ever.

What This Means for Operators 

While demand is growing, expectations are also rising. Customers expect ATMs to be available, secure, and fully stocked at all times. For banks, credit unions, and retailers, that requires more than just installing machines. It means keeping cash replenished across networks and locations, maintaining uptime with proactive monitoring and service, and protecting funds through secure armored transport. It also means having the right reporting tools in place to ensure visibility and accountability. 

Managing all of these responsibilities in-house can be resource-intensive, which is why many operators turn to specialized cash management providers to safeguard performance and efficiency. 

How Loomis Supports ATM Success

As a leader in cash management and armored transport, Loomis is trusted by financial institutions and retailers to keep ATMs reliable, secure, and cash-stocked. With decades of expertise and advanced tools, Loomis helps ATM operators:

• Streamline cash logistics with reliable armored transport and replenishment.
• Protect assets and staff through rigorous security standards and procedures.
• Maintain high uptime with service and monitoring support.
• Gain visibility and control with real-time reporting and data tools.

By partnering with Loomis, operators can focus on their customers, confident that their ATM network is backed by industry-leading expertise.

The Bottom Line

ATMs remain a vital channel for cash access and banking convenience — and the market’s growth proves their importance isn’t fading. As customer demand and technology continue to evolve, the need for reliable, secure ATM services is greater than ever. 

With Loomis as your partner, you can meet that demand with confidence, ensuring your ATMs deliver the convenience, security, and performance your customers expect. 

Learn more about Loomis ATM services here.