Crypto ATM Market to be Worth $5,450.9 Million by 2030: Grand View Research, Inc.

News provided by

Dec 07, 2022, 06:00 ET

SAN FRANCISCO, Dec. 7, 2022 /PRNewswire/ -- The global crypto ATM market size is expected to reach USD 5,450.9 million by 2030, registering a CAGR of 61.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth of the cryptocurrency ATM market can be attributed to the growing usage of cryptocurrencies for making payments at several retail stores. At the same time, crypto ATMs enable users to convert cryptocurrency into fiat cash by selling cryptocurrency is also one of the major factors driving the growth of the market.

Key Industry Insights & Findings from the report:

In 2021, the one-way segment dominated the market. The growth of the segment can be attributed to the rising demand for one-way crypto ATMs for purchasing cryptocurrencies. One-way ATMs are one of the secure methods available to enable users to buy cryptocurrencies and minimize fraud.
The hardware segment dominated the market in 2021. The Crypto ATM hardware includes components such as a display, printer, scanner, cash dispenser, and others which are essential for building a crypto ATM, which is eventually driving the growth of the hardware segment.
The bitcoin segment dominated the market in 2021. The growth of the segment is attributable to the growing popularity and acceptance of bitcoin by several merchants around the globe.
The restaurants and other hospitality spaces segment accounted for the maximum market share in 2021. The growth of the segment can be attributed to the growing deployment of crypto ATMs by various restaurants to provide customers ease in the purchase of cryptocurrency for USD.
North America dominated the regional market in 2021. The high availability of crypto ATMs and legalization of cryptocurrency across the region bode well with the growth of the regional market.

Read 160-page full market research report for more Insights, "Crypto ATM Market Size, Share & Trends Analysis Report By Type (One Way, Two Way), By Offering, By Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Crypto ATM Market Growth & Trends

The rising awareness and adoption of cryptocurrencies among retailers, such as Walmart and Circle K, are expected to drive the growth of the crypto ATM market over the forecast period. Furthermore, according to the survey of Bitstamp in 2022, a cryptocurrency exchange service provider, it is found that 75% of retail investors and 88% of institutional investors believe that cryptocurrencies will see mainstream adoption over the next ten years. In addition, several businesses, including restaurants and commercial spaces, are involved in installing crypto ATMs to earn extra revenues, which is expected to further fuel the market's growth.

Growth in the acceptance of bitcoin payments has also led to a rise in bitcoin ATM installations globally. According to the data provided by Coin ATM Radar, a bitcoin ATM information provider, nearly 23 bitcoin ATMs are installed each day globally. Moreover, earlier in December 2021, around 1,970 crypto ATMs were installed across the globe. Thus, the rising bitcoin ATM industry is further expected to create growth opportunities for the crypto ATM market over the forecast period.

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

Crypto ATM Market Segmentation

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

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

One Way
Two Way

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

Hardware
Software

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

Bitcoin
Dogecoin
Ethereum
Litecoin
Others

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

Commercial Spaces
Restaurants & Other Hospitality Spaces
Transportation Hubs
Standalone Units
Others

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

North America

U.S.
Canada

Europe

Germany
U.K.

Asia Pacific

Australia
Thailand
Taiwan

Latin America

Brazil

Middle East & Africa

List of Key Players of Crypto ATM Market

GENERAL BYTES s.r.o.
Genesis Coin Inc.
Lamassu Industries AG
Covault
Bitaccess Inc.
Coinme
Coinsource
Bitstop
Orderbob
Cryptomat

Check out more related studies published by Grand View Research:

Crypto Wallet Market - The global crypto wallet market size is expected to reach USD 48.27 billion by 2030, registering a CAGR of 24.4% during the forecast period, according to a new report by Grand View Research, Inc. Crypto wallets help users to store their private keys securely and use them while carrying out any transactions in cryptocurrency. Increasing use of cryptocurrency for individual and commercial use, growing demand for enhanced security in crypto transactions, expanding use of smartphones, and internet penetration are the factors expected to drive the growth of crypto wallets during the forecast period.
Cryptocurrency Market - The global cryptocurrency market size is expected to reach USD 11.71 billion by 2030, registering a CAGR of 12.2% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The market growth is anticipated to be fueled by the increasing demand for better data security, operational transparency, and the incorporation of blockchain technology in digital payment systems. Additionally, the legalization of the purchase, sale, and trading of digital currencies in several developed countries, such as the U.S., is fostering industry expansion.
Cryptocurrency Exchange Platform Market - The global cryptocurrency exchange platform market size is expected to reach USD 264.32 billion by 2030, growing at a CAGR of 27.8% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The rising awareness about cryptocurrencies and their advantages, such as flexibility and security, is driving the industry's growth. The strong emphasis on secure and decentralized networks owing to the emergence of blockchain technology also bodes well with the market growth. Several market players have invested in research and development activities to introduce advanced innovative exchange platforms. For instance, in July 2022, Billium, an exchange based in Dubai, announced the launch of a new-age platform to carry out decentralized transactions more effectively and efficiently. It is integrated with a copy trading function named 'Billium Copy Trading', which will allow novice users to follow the trades of the professionals

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter