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The Chinese ATM market saw its numbers nearly triple between 2007 and 2011, and increase by nearly 25% from 2010 to 2011. This rapid increase has put China on the brink of becoming the world's largest ATM market, surpassing the US, Brazil and Japan.
Last year saw the number of ATMs within the Chinese market increase by a record 59,000 terminals, to a total of 339,000.
In recent years, the Chinese ATM market has experienced rapid growth. In 2011, for every million people there were 254 sets of ATMs, up over 100% from 104 sets at the end of 2007.
However, on a global scale, every million people have 343 sets averagely; in developed countries, every million people have 1,450 sets, showing that the Chinese ATM market still has great room for improvement.
In China, bank and ISO orders are helping to drive ATM market growth. More of China's population are putting their money into banks, and the banks have to provide them with a way to access their cash. ATM prices in China are also less expensive than other markets because of the competition among manufacturers.
The top five ATM suppliers in the Chinese market remain GRGBanking, Hitachi, NCR, YH, and Diebold. Competition still intensifies as the top five companies take up 70% of the total sales volume.
GRGBanking's sales volume soared to 17,500 in 2011, taking up 23.33% of the Chinese market, ranking the company No.1 for the 4th consecutive year.
For more information on the Chinese ATM market, see the latest research: Chinese ATM Market Report
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