PUBLISHER: The Business Research Company | PRODUCT CODE: 1559137
PUBLISHER: The Business Research Company | PRODUCT CODE: 1559137
A cryptocurrency automated teller machine (ATM) enables users to buy or sell cryptocurrencies such as Bitcoin and Ethereum using cash or cards. These machines provide a convenient and user-friendly method for accessing digital currencies, though they may come with higher fees and varying levels of transaction verification.
The main types of cryptocurrency ATMs are one-way and two-way. One-way crypto ATMs allow users to purchase cryptocurrencies using cash or credit/debit cards, offering a simple and user-friendly experience for those entering the cryptocurrency market. These ATMs support a range of cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Dogecoin, Bitcoin Cash, Dash, Tether, and others, and include both hardware and software components.
The crypto automated teller machine (ATM) market research report is one of a series of new reports from the business research company that provides crypto automated teller machine (ATM) market statistics, including crypto automated teller machine (ATM) industry global market size, regional shares, competitors with an crypto automated teller machine (ATM) market share, detailed crypto automated teller machine (ATM) market segments, market trends and opportunities, and any further data you may need to thrive in the crypto automated teller machine (ATM) industry. This crypto automated teller machine (ATM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The crypto automated teller machine (ATM) market size has grown exponentially in recent years. It will grow from $0.42 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 32.6%. The growth during the historic period can be attributed to several factors, increased adoption of cryptocurrencies, a rising number of Bitcoin transactions, regulatory developments, the expansion of ATM networks, heightened awareness, and improved education about digital currencies.
The crypto automated teller machine (ATM) market size is expected to see exponential growth in the next few years. It will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 32.7%. The growth expected during the forecast period can be attributed to several factors, ongoing cryptocurrency adoption, expansion into emerging markets, supportive regulatory frameworks, increased institutional investment, strategic partnerships, and acquisitions. Key trends anticipated in the forecast period include enhanced user experiences, integration with decentralized finance (DeFi) platforms, technological innovations, advances in blockchain technology, and improved security measures.
The increasing awareness of cryptocurrencies is anticipated to drive growth in the crypto automated teller machine (ATM) market. Cryptocurrencies are digital or virtual assets that use cryptography for secure transactions and operate on decentralized networks, offering innovative financial solutions and investment opportunities. This rising awareness is fueled by increased media coverage of major cryptocurrencies such as Bitcoin and Ethereum, which highlight their price volatility and substantial gains, as well as their practical uses in industries such as finance, supply chain, and gaming. These factors demonstrate their real-world value and spark greater public interest. Crypto ATMs provide a convenient, secure, and accessible way for users to buy and sell digital assets quickly. For instance, in January 2024, Security.org reported that cryptocurrency awareness and ownership had increased, with 40% of American adults now holding digital assets, up from 30% in 2023, representing about 93 million people. This growing awareness is expected to drive the development of the crypto ATM market.
Key players in the crypto ATM market are focusing on enhancing user interfaces to improve customer experience, such as by incorporating ergonomic touchscreens. These touchscreens are designed to make transactions more intuitive and efficient by reducing user strain and ensuring ease of interaction. For example, in February 2022, General Bytes, a US-based company specializing in Bitcoin and crypto ATM manufacturing and software solutions, released an updated version of its BATMTwo ATM model. This new version features a 10-inch touchscreen, an upgrade from the previous 7-inch display. The larger screen offers better visibility, customizable screensavers for branding, and improved accessibility for users with vision impairments. The expanded screen size also provides a wider viewing angle, enhancing usability in various lighting conditions.
In October 2023, RockItCoin, a US-based Bitcoin ATM provider, acquired FirstCoin ATM and Phoenix Crypto Bitcoin ATM networks for an undisclosed sum. This acquisition adds 78 new ATMs to RockItCoin's already extensive network, which includes over 2,000 locations across the United States. This strategic move reflects RockItCoin's commitment to expanding its presence in the cryptocurrency ATM market and addressing the growing demand for accessible crypto transactions. FirstCoin ATM LLC and Phoenix Crypto, both US-based companies, specialize in deploying and managing cryptocurrency ATMs to facilitate secure and efficient digital asset transactions.
Major companies operating in the crypto automated teller machine (ATM) market are Bitcoin Depot, CoinFlip, Athena Bitcoin, RockItCoin, Bitcoin of America, Coin Cloud, Coinme, Coinsource, Cash Cloud Inc, Bitnovo, Bitaccess, Bitstop, Crypto Dispensers, General Bytes, Genesis Coin , Chainbytes, ByteFederal, Cryptospace, CoinOutlet, Shitcoins Club, Vault Logic, Covault LLC, Kurant GmbH, Instacoin ATM, Lamassu Industries AG
North America was the largest region in the crypto automated teller machine (ATM) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crypto automated teller machine (ATM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the crypto automated teller machine (ATM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The crypto automated teller machine (ATM) market consists of revenues earned by entities by providing services such as maintenance, software updates, and customer support. The market value includes the value of related goods sold by the service provider or included within the service offering. The crypto automated teller machine (ATM) market also includes sales of software solutions, integration kits, ATM parts, and accessories. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Crypto Automated Teller Machine (ATM) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on crypto automated teller machine (ATM) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for crypto automated teller machine (ATM) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The crypto automated teller machine (ATM) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.