DUBLIN, Sept. 4, 2018 /PRNewswire/ --
The "Crypto ATM Market by Type (One Way and Two Way), Automated Teller Machine Hardware (Display, Printer, QR Scanner), and Geography (North America, Europe, Asia Pacific (APAC), Rest of the World (RoW) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The crypto ATM market is expected to grow from USD 16.3 million in 2018 to USD 144.5 million by 2023, at a CAGR of 54.7% from 2018 to 2023.
Growing fund transfers in developing countries, fluctuating monetary regulations, and increasing installations of crypto ATMs in restaurants, bars, general stores, and gas stations are the factors driving the growth of the crypto ATM market.
The demand for 2-way crypto ATMs is growing due to its multifunctionality features. A 2-way crypto ATM offers multiple options for cryptocurrencies and fiat currencies trading. In a 2-way ATM, a user can buy cryptocurrencies and also sell them using a single machine. These ATMs are chiefly installed in North America. Crypto ATM is significantly used by cryptocurrency investors; therefore, the market for 2-way crypto ATM is expected to grow at a significant CAGR during the forecast period.
The market for ATM printers in the crypto ATM market is expected to grow at the highest CAGR from 2018 to 2023 owing to its functionality of providing public and private keys on printed receipts. ATM printer in a crypto ATM is an output component. It can dispense receipts as per the ATM application. It is mainly used for printing QR codes. It generates a receipt for every transaction; these receipts contain public and private keys in the form of QR codes.
Crypto ATM Market
North American crypto ATM market is expected to hold the largest share of the crypto market by 2023. The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favorable investment environment (without any legal barriers). In 2017, the Government of Mexico declared bitcoin legal, and it would be regulated by the Fintech Law. In addition, Canada has recorded extensive start-up activity, especially for cryptocurrency.
Uncertain regulatory status of cryptocurrencies, and lack of awareness and technical understanding regarding cryptocurrencies restrict the market growth for crypto ATM manufacturers and operators. Further, concern regarding security and privacy is expected to pose a challenge to the market players.
GENERAL BYTES (Czech Republic), Genesis Coin (US), Lamassu (UK), COVAULT (US), Bitaccess (Canada), Coinme (US), Coinsource (US), Bitxatm (German), Orderbob (Austria), and RUSbit (Russia) are a few key players in the crypto ATM market. These players adopted strategies such as product launches and developments, acquisitions, partnerships, collaborations, and contracts to grow in the market.
Key Topics Covered:
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Crypto ATM Market
4.2 Crypto ATM Market, By Type, 2018-2023 (USD Million)
4.3 Crypto ATM Market, By Countries and Technology
4.4 Crypto ATM Market, Geographical Snapshot
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Growing Fund Transfers in Developing Countries
22.214.171.124 Fluctuating Monetary Regulations
126.96.36.199 Increasing Installations of Crypto ATMs in Restaurants, Bars, General Stores, and Gas Stations
188.8.131.52 Uncertain Regulatory Status of Cryptocurrencies
184.108.40.206 Lack of Awareness and Technical Understanding Regarding Cryptocurrency
220.127.116.11 Significant Growth Opportunities in Developed Markets
18.104.22.168 Acceptance of Cryptocurrency Across Industries
22.214.171.124 Concern Regarding Security and Privacy
126.96.36.199 Technical Challenges Pertaining to Scalability
5.3 Value Chain Analysis
6 Crypto ATM Market, By Type
6.2 1 Way
6.3 2 Way
7 Crypto ATM Market, By Hardware
7.3 ATM Printer
7.4 Qr Scanner
8 Geographic Analysis
9 Competitive Landscape
9.2 Competitive Analysis
9.3 Crypto ATM Market Ranking Analysis, 2017
10 Company Profiles
10.1 Key Players
10.1.1 General Bytes
10.1.2 Genesis Coin
10.1.6 Coinsource (Operator)
10.1.8 Coinme (Operator)
For more information about this report visit https://www.researchandmarkets.com/research/4m6gqc/144_mn_crypto?w=5
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SOURCE Research and Markets