The Global Crypto automated teller machines (ATMs) Market size was valued at USD 76.23 million in 2021 and is expected to expand at a CAGR of 62.2% from 2022 to 2030.
The profitable benefits that crypto currency ATMs provide can be used to explain the expansion of the market for automated teller machines (ATMs). Crypto ATMs enable users to withdraw cash from ATMs, convert cryptocurrencies to fiat currency, and send money overseas without the need for a bank account. Another important aspect that will show the expansion of the crypto automated teller machines (atms) market is the legalisation of cryptocurrencies in a number of nations.
The growing popularity of cryptocurrencies worldwide is expected to drive crypto automated teller machines (atms) market growth during the forecast period. According to the Chainalysis 2022 Global Crypto Adoption Index, users in low- and middle-income countries such as Vietnam, the Philippines, Thailand, and Brazil use cryptocurrencies for a variety of purposes, including sending money transfers and preserving savings in the fiat era. Currency volatility,etc.
Market Dynamics:
Drivers:
Users can use cryptocurrency ATMs to process remittances and buy bitcoin thanks to the support for these functions in crypto ATMs. Furthermore, a number of nations have begun to invest in infrastructure for the crypto revolution, arousing enthusiasm among their citizens. According to the Crypto-Ready Index 2021, the United States ranks first in the world with 17,436 crypto ATMs.
Restraints:
However, during the forecast period, the uncertain regulatory status of cryptocurrencies and lack of awareness and technical understanding of cryptocurrencies are acting as market restraints for the market. Growing safety and privacy concerns as well as technical issues related to scalability will be major obstacles to the growth of the crypto currency automated teller machine (ATM) market.
Key players:
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GENERAL BYTES s.r.o.
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Genesis Coin Inc.
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Lamassu Industries AG
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Covault
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Bitaccess Inc.
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Coinme
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Coinsource
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Bitstop
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Orderbob
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Cryptomat
Market Segmentation:
Crypto automated teller machines (ATMs) Market, Type Outlook
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One Way
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Two Way
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Crypto automated teller machines (ATMs) Market, Coin Type Outlook
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Bitcoin
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Dogecoin
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Ethereum
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Litecoin
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Others
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Crypto automated teller machines (ATMs) Market Offering Outlook:
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Hardware
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Software
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Crypto automated teller machines (ATMs) Market, Application Outlook
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Commercial Spaces
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Restaurants & Other Hospitality Spaces
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Transportation Hubs
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Standalone Units
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Others
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Crypto automated teller machines (ATMs) Market, Regional Outlook
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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Asia Pacific
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Australia
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Taiwan
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Thailand
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Latin America
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Brazil
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Middle East & Africa
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Regional Analysis:
North America dominated the cryptocurrency ATM market in 2022, accounting for over 44.0% of global revenue. The presence of market players such as Covault and Coinme across the region is expected to drive the growth of the regional market. Additionally, the US has a large number of cryptocurrency owners, which bodes well for the growth of the local market. For example, according to TripleA, 8.3% of Americans own cryptocurrencies. Additionally, increasing installation of crypto ATMs in this region is expected to drive the growth of the market in North America.
Asia Pacific is expected to dominate Crypto automated teller machines (ATMs) Market during the forecast period. Growth in the regional market can be attributed to market participants expanding into the Asia Pacific region. For example, in March 2022, Ukraine-based cryptocurrency ATM maker Intellogate announced that it is expanding its services across Asia by collaborating with South Korean blockchain service provider Publish and kiosk producer Lincrux. Additionally, growing awareness of cryptocurrencies among consumers in Asia Pacific is expected to fuel the growth of the regional crypto automated teller machines (atms) market over the forecast period.
Scope Of the Report:
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2021-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 62.2% |
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Market structure |
Fragmented |
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Competitive landscape |
Leading companies, competitive strategies, consumer |
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Companies profiled |
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Customization purview |
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