Global Crypto ATM Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Component (Solution, Services), By Deployment (On-premise, Cloud-based), By Type (Stock Markets, FOREX, Exchange-Traded Fund (ETF), Bonds, Cryptocurrencies & Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Electronics, ICT & Media
CRYPTO ATM MARKET: OVERVIEW
The Global Crypto ATM Market Size was valued at USD 245.3 Million in 2021 and is expected to reach USD 820.14 Million by 2030, growing at a CAGR of 54.2% during 2021-2030.
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Customers can trade more easily using crypto ATMs because they do not need to create an account, an online wallet, or deal with long public keys. Cash, credit cards, and checks are alternatives to cryptocurrency as a means of payment. Without using the bank, the customer transmits money-using cryptocurrencies directly. The term "crypto ATM" refers to an ATM from which users can quickly transfer bitcoin. Additionally, a shift in the investment paradigm, mostly driven by the ageing baby boomer cohort, is suggested by the rising demand for cryptocurrencies and the spike in the number of crypto users, which is boosting the market for cryptocurrency ATMs. The market's expansion is hampered by the limited use of cryptocurrencies as legal money, as well as the lack of ATMs and kiosks in certain places. Instead, a rising number of companies are putting money into cryptocurrencies with the intention of making a higher return on investment. This is a significant development that could present a growth opportunity for the market.
The COVID-19 pandemic outbreak is anticipated to have a significant impact on the market's growth. Users can send and receive bitcoins digitally through crypto ATMs without making any physical touch. In the aftermath of the pandemic's emergence, makers of crypto ATMs are likewise making the necessary preparations to clean their devices. Such programs specifically encourage people to prefer using crypto ATMs as a means of preserving social distance, which in turn increases demand for crypto ATMs.
CRYPTO ATM MARKET: TREND
Increasing Demand of Crypto ATM across the World
Instantaneous transactions made possible by crypto ATMs drive the market's expansion. As soon as cash is placed into the ATM for a buy order, a purchase for the full payment amount is made. Additionally, the crypto ATMs enable clients to place sell orders without having to wait several days for funds to arrive if they choose to do so. Additionally, it offers clients simpler trading alternatives and eliminates the need for users to create an account, an online wallet, or deal with lengthy public keys.
Global Crypto ATM Market Report Coverage
|Market Size in 2021:||USD 245.3 Million|
|Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||54.20%|
|2030 Value Projection:||USD 820.14 Million|
|Historical Data for:||2017 to 2020|
|No. of Pages:||209|
|Tables, Charts & Figures:||136|
|Segments covered:||By Component, By Type, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Bitaccess Inc., BITCOIN DEPOT, Bitcovault, Bitstop, Byte Federal, Inc., Cash Cloud Inc, ChainBytes LLC Coinsource, Covault, LLC, DigitalMint, GENERAL BYTES s.r.o., Genesis Coin Inc., Kurant GmbH, Lamassu Industries AG, RockitCoin, Soft-logic Co|
|Growth Drivers:||Large R&D investments in order to create cutting-edge products and technology, Affordably priced bitcoin ATMs|
|Pitfalls & Challenges:||Uncertain regulatory status, A lack of defined protocols, and The expensive cost of crypto ATMs|
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CRYPTO ATM MARKET: DRIVERS
Increasing Number of Installations Provided with Blockchain Technology
The rise of the cryptocurrency automated teller machine (ATM) market is being driven by an increase in installations. Vendors are making large R&D investments in order to create cutting-edge products and technology. Affordably priced bitcoin ATMs are also being introduced by them to increase their presence. For instance, Bitcoin Depot announced in May 2021 the opening of more than 350 additional bitcoin ATMs around the US. As a result, the rising number of new cryptocurrencies will drive ATMs that are being installed the expansion of the cryptocurrency automated teller machine (ATM) industry.
CRYPTO ATM MARKET: RESTRAIN
Concerns Pertaining to Stringent Regulations in Few Countries
Uncertain regulatory status, a lack of defined protocols, and the expensive cost of crypto ATMs are a few major reasons that are anticipated to restrain the market's revenue growth to some extent in the years to come. Some nations have endeavored to sever all ties to the banking and financial systems required for the usage and trading of digital currency, others have outright outlawed it. A number of countries, including China, Russia, Colombia, Algeria, and Egypt, effectively forbid the use of cryptocurrency.
The Global Crypto ATM Market is segmented by Offering, Product, Type, Currency Type, and Region. Based on the Offering, the market is categorized Hardware, Software. Based on Product, the market is categorized into Standalone, Wall-mounted/Table-top. Based on Type, the market is categorized into One-Way, Two-Way. Based on Currency Type, the market is categorized into Bitcoin, Litecoin, Ethereum, Dogecoin, Bitcoin Cash, Dash, Tether and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Based on offering, is categorized into hardware, software. The hardware segment is expected to dominate the market share of global crypto atm market. Different kinds of hardware components are needed by crypto ATM makers to make their machines. Among other things, these hardware parts frequently include cash dispensers, extension boxes, ATM stands, door switches, cash recyclers, and cash boxes. Depending on the type of crypto ATM being produced, hardware elements may vary.
Based on Type, the market is categorized into one-way, two-way. The one-way is expected to dominate the market share of global crypto atm market owing to particularly high demand since they make money transfers safe and easy. Around 70% of bitcoin ATMs worldwide are one-way crypto ATMs, according to figures provided by Cryptodispensers, a provider of crypto services.
MARKET SEGMENTATION: BY REGION
The Global Crypto ATM Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
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North America region is expected to dominate the market share of global crypto atm market owing to presence of well-known market players including Bitcoin Depot, Coin Cloud, and CoinFlip. In addition, the installation of cryptocurrency ATMs in public spaces is rapidly gaining popularity in North America, particularly in the United States. For instance, the City of Williston in the U.S. state of North Dakota stated in November 2021 that a cryptocurrency ATM would be installed at the Williston International Airport. Passengers could purchase and sell virtual currency at the airport thanks to the crypto ATM. However, Asia Pacific region is expected to witness highest growth rate during the forecast period of global crypto atm market due to expansion of the regional market is anticipated to be fueled by the ongoing installation of two-way crypto ATMs across Asia Pacific nations, including the Philippines. Additionally, chances for the expansion of the regional market are anticipated to be created by the proliferation of smartphones and the ongoing rollout of 5G technology. Crypto ATMs are being increasingly adopted by businesses in the Asia Pacific region in order to streamline operations and improve customer experiences.
CRYPTO ATM MARKET: KEY PLAYERS
• Bitaccess Inc.
• BITCOIN DEPOT
• Byte Federal, Inc.
• Cash Cloud Inc
• ChainBytes LLC
• Covault, LLC
• GENERAL BYTES s.r.o.
• Genesis Coin Inc.
• Kurant GmbH
• Lamassu Industries AG
• Soft-logic Co
CRYPTO ATM MARKET: RECENT DEVELOPMENT
- July 2022- Kurant has setup the bitcoin machine in a bank at the Volksbank Raiffeisenbank Bayern Mitte eG.
- April 2022- General Bytes has launched BATMTwoUltra with the new feature configuring the ATM for bidirectional (cash to crypto, crypto to cash) operations.
- March 2022- Bitcovault has made a partnership with SECURECASH enabling Bitcoin Operators with Unlimited Cash to crypto services globally.
CRYPTO ATM MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Crypto ATM Market. The Global Crypto ATM Market is segmented by Offering, Product, Type, Currency Type, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Crypto ATM Market.
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