According to According to a report by international financial research and consulting firm, Celent, titled “The Indian ATM Industry: Gearing Up for the Next Phase of Growth”, the industry is now entering the next phase,
The number of ATMs in India has doubled in the last three years, reaching 99,218 ATMs in June 2012. (Thus is June 2009, the number of ATMs in India was 49,607).
The industry is expected to continue on the path of high growth and reach 200,000 ATMs by 2016.
As per the report, most of the new ATMs–50 to 65 percent–will be deployed in tier 2 and 3 cities, while tier 1 cities will grow at around 20 percent.