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Crypto ATM Market Outlook, Trend, Growth, Top Companies, Region, Forecast, 2021-2030

Crypto ATM Market Outlook, Trend, Growth, Top Companies, Region, Forecast, 2021-2030

Crypto ATM Market

Crypto ATM Market by Offering, Type, and Coin : Global Opportunity Analysis and Industry Forecast, 2021-2030.

Growing adoption of cryptocurrency primarily among younger generation & increased installations of crypto ATMs in general stores, gas stations, restaurants, bars are the major crypto ATM market trends”

— Allied Market Research

PORTLAND, OR, UNITES STATES, July 7, 2023/EINPresswire.com/ — Crypto ATMs provides instant transaction & easier growing demand for cryptocurrencies, thereby driving the growth of the global crypto ATM market. Moreover, crypto ATMs does not require customers to have bank accounts and allow customers to make a single or several transactions via crypto ATM in the market. Moreover, increased adoption of cryptocurrencies among financial institutions & large corporations and growing presence of crypto cards, which accelerate consumer interest to earn rewards in a new way on everyday spending are some of the major trends in the market. Restaurants, bars, general stores, and gas stations are the largest end users that adopted crypto ATMs in their existing businesses.

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The global crypto ATM market size was valued at $35.80 million in 2020, and is projected to reach $3,557.05 million by 2030, growing at a CAGR of 58.5% from 2021 to 2030.

Furthermore, the global crypto ATM market is in its developing phase, and exhibits high growth potential due to increasing fund transfers in developing economies, rise in number of installations of crypto ATMs, and fluctuations in monetary regulations. For instance, according to a study conducted by Crypto Head ranking, the U.S. scored 7.3 out of 10 mainly due to growing crypto ATM network. In addition, the U.S. had 17,436 crypto ATMs in 2021, followed by Canada with 1,464 crypto ATMs, and the UK with 200 crypto ATMs.

Based on coin, the bitcoin (BTC) segment acquired the major share of the crypto ATM market. Bitcoin is the first decentralized cryptocurrency using blockchain technology to facilitate payments and digital transactions. Furthermore, it helps in preventing fraud and other unapproved tampering of currency, and thus its demand continues to rise in the market.

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Region-wise, North America dominated the crypto ATM market industry in 2020 and is expected to grow at the highest CAGR during the forecast period. This is attributed to presence of major key market players, growing popularity of crypto currency, and increasing installations of these ATMs in the hospitality industry. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to growing levels of disposable income and increasing popularity of cryptocurrency in the region.

COVID-19 Impact Analysis

The demand for crypto ATM has increased considerably during the COVID-19 pandemic. Since the usage of cash dispensers has decreased tremendously during the pandemic, the demand for cryptocurrencies has increased and most of the countries are investing in startups for crypto ATMs to boost the growth of cryptocurrency exchange. Thus, these factors promoted the growth of the crypto ATM market size during the pandemic situation.

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Key Findings of The Study

On the basis of offering, the software segment is expected to exhibit the fastest crypto ATM market growth rate during the forecast period.
By type, the one-way segment led the highest crypto ATM market share, in terms of revenue in 2020.
Region-wise, North America generated the highest revenue in 2020.

The key players operating in the crypto ATM market analysis include BITCOIN DEPOT, Bitstop, Cash Cloud, Inc, Coinsource, Covault, LLC, GENERAL BYTES s.r.o., Genesis Coin Inc., Kurant GmbH, Lamassu Industries AG, and RockitCoin. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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