Crypto ATM Market Size To Reach USD 5,451.0 Million By 2030


 

Crypto ATM Market Growth & Trends

The global crypto ATM market size is expected to reach USD 5,451.0 million by 2030, growing at a CAGR of 62.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Several countries such as Central African Republic and El Salvador recognize Bitcoin as legal tender which will contribute to the use of crypto ATMs over the forecast period. The market growth can be attributed to the growing use of cryptocurrencies for making payments at several retail stores.

The rise in the number of prominent retail stores installing crypto ATMs is expected to be a major contributor to the growth of the crypto ATM industry. In March 2023, Giant Eagle supermarket’s café arm under GetGo Café + Market announced plans to install online Bitcoin ATMs in more than 125 locations across the U.S. Similarly, prominent chains such as Circle K, 7-Eleven, and Shell have ramped up the demand for online Bitcoin ATMs.

Leading cryptocurrencies' popularity and potential growth prospects are expected to bode well for market growth. According to data provided by Coin ATM Radar, an online Bitcoin ATM information provider, globally, nearly 23 Bitcoin ATMs are installed daily. Thus, the growing use of cryptocurrencies such as Bitcoin and Ethereum is expected to create growth opportunities for the crypto ATM industry over the forecast period.

The outbreak of the COVID-19 pandemic positively impacted the growth of the market for crypto ATMs. Users across the globe are demanding more advanced software in crypto ATMs so that the process of storing, buying, and selling cryptocurrencies can be easy. Furthermore, crypto ATM providers are also focusing on launching advanced software to simplify the process of crypto ATMs for transactions.

Request a free sample copy: https://www.grandviewresearch.com/industry-analysis/crypto-atm-market-report  

Crypto ATM Market Report Highlights

·         In 2022, the one way segment dominated the market, be attributed to the rising demand for one way crypto ATMs for purchasing cryptocurrencies. Several countries have imposed a tax on short-term sales of cryptocurrencies, and the ability to purchase them using cash is a primary driver for the segment's growth

·         The hardware segment dominated the market in 2022. The hardware components of a crypto ATM provide the user interface that allows customers to interact with the machine. Hardware components such as secure microcontrollers and cryptographic modules play a critical role in ensuring the security of crypto transactions, which is expected to drive the segment’s growth over the forecast period

·         The Bitcoin segment dominated the market in 2022. Bitcoin transcends borders and enables faster international transactions than traditional banking systems, making it appealing for businesses engaged in cross-border trade. Moreover, institutional investors view Bitcoin as a potential hedge against inflation and a store of value, driving its adoption.

·         The restaurants & other hospitality spaces segment accounted for the maximum market share in 2022. This can be attributed to various food and entertainment outlets' growing deployment of crypto ATMs. Crypto ATMs provide customers with additional payment options and cater to tech-oriented customers who prefer using cryptocurrencies for transactions

·         North America dominated the regional market in 2022. The high availability of crypto ATMs in the region bodes well for the regional market’s growth. Moreover, the willingness of large-scale businesses to incorporate blockchain and cryptocurrency is expected to drive growth in North America

Crypto ATM Market Segmentation

Grand View Research has segmented the global crypto ATM market based on type, offering, coin type, application, and region:

Crypto ATM Type Outlook (Revenue, USD Million, 2017 - 2030)

·         One Way

·         Two Way

Crypto ATM Offering Outlook (Revenue, USD Million, 2017 - 2030)

·         Hardware

·         Software

Crypto ATM Coin Type Outlook (Revenue, USD Million, 2017 - 2030)

·         Bitcoin

·         Dogecoin

·         Ethereum

·         Litecoin

·         Others

Crypto ATM Application Outlook (Revenue, USD Million, 2017 - 2030)

·         Commercial Spaces

·         Restaurants & Other Hospitality Spaces

·         Transportation Hubs

·         Standalone Units

·         Others

Crypto ATM Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    U.K.

o    France

·         Asia Pacific

o    Australia

o    Thailand

o    South Korea

o    Singapore

o    Taiwan

·         Latin America

o    Brazil

o    Mexico

·         Middle East & Africa

o    UAE

o    Kingdom of Saudi Arabia (KSA)

o    South Africa

List of Key Players in the Crypto ATM Market

·         GENERAL BYTES s.r.o.

·         Genesis Coin Inc.

·         Lamassu Industries AG

·         Covault

·         Bitaccess Inc.

·         Coinme

·         Coinsource

·         Bitstop

·         Orderbob

·         Cryptomatx

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/crypto-atm-market-report  

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