Crypto ATM Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global crypto ATM market was valued at USD 295.1 million in 2022, and a CAGR of 55.1% is expected during the forecast period. Increasing demand for more convenient trade without creating an account, having an online wallet, or dealing with long public keys. The term crypto ATM refers to an ATM from which users can quickly transfer bitcoin. Rising demand for crypto currencies and a spike in the number of crypto users are driving significant growth in the market. A rising number of companies are investing their money in crypto currencies with the intention of making a higher return on investment.

Growth Drivers

Increasing demand for Crypto ATM across the world

Increasing adoption of cryptocurrencies, growing regulatory clarity, demand for easy access to crypto assets, and expanding use cases such as remittances and financial inclusion, along with advancements in technology and the integration of features like biometric authentication and multi-currency support, are also fueling market growth significantly. Increasing mainstream acceptance and adoption of cryptocurrencies, the need for convenient access to crypto assets, and regulatory development provide more clarity and legitimacy.

Technological advancements are enhancing user experience and security, and there is growing interest from both retail consumers and institutional investors in digital assets.

Segmentation

By Offering

·         Hardware

·         Software

By Type

·         One way

·         Two way

By Crypto ATM Coin

·         Bitcoin

·         Litecoin

·         Bitcoin Cash

·         Dash

·         Ethereum

·         Tether

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Crypto ATM Market by Offering Segmentation

On the basis of the offering, the crypto ATM market is segmented into hardware and software. Hardware is the leading segment and is expected to dominate the market due to several reasons, Hardware, such as physical ATM machines themselves, is the foundation of the crypto ATM ecosystem. These machines are necessary for users to interact with and conduct transactions involving crypto-currencies. Setting up a crypto ATM network requires a significant upfront investment in hardware, including purchasing machines, installing them in strategic locations, and ensuring they are properly maintained.

As a result, spending on hardware typically compromises a substantial portion of the overall investment in a crypto ATM business. With the rapid evolution of technology, hardware manufacturers are continually innovating to improve the functionality, security, and user experience of crypto-ATMs. This continuous innovation drives the demand for new and upgraded hardware solutions. Hardware offerings provide tangible products that customers can see and interact with directly. This visibility and accessibility make hardware the most prominent segment in the market.

Crypto ATM Market by Crypto ATM Coin

On the basis of crypto atm coins, the crypto atm market is segmented into Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, and Tether. Bitcoin is the leading segment in the crypto market and is expected to dominate during the forecast period due to the following reasons: Bitcoin is the most well-known and widely adopted cryptocurrency in the world. Its brand recognition and popularity make it a preferred choice for many users when using a crypto ATM.

Bitcoin has the highest liquidity among cryptocurrency, meaning it is convenient to buy and sell. And exchange for flat currency. Bitcoin holds the largest market share, and its dominant position in the market is translated to widespread acceptance and availability at Crypto ATMs worldwide. Bitcoin has a well-established infrastructure, including wallets, exchanges, and payment processors, which support its integration with crypto ATMs.

Increasing demand for bitcoins in investments, remittances, online purchases, and as a store of value. It’s versatility and wide range of use cases contribute to its popularity at the crypto ATM, as users do utilize bitcoin for different uses. The increasing demand for cryptocurrency in the modern world is driving significant growth in the market. Continuous innovation drives the demand for new hardware solutions.

Regional Outlook

On the basis of the regions, the crypto ATM market is segmented into 5 parts: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America is the leading segment in the crypto ATM market due to the high level of crypto currency adoption by both retail consumers and businesses. The region has a favorable regulatory environment, with clearer guidelines and regulations compared to other parts of the world. North America has a robust infrastructure for financial services, making it easier for companies to install and operate crypto ATMs.

The presence of major crypto-currency exchanges and blockchain startups in cities like New York and San Francisco further contributes to the dominance of North America. The Asia-Pacific crypto ATM market is rapidly growing due to the region’s large population. Increasing adoption of cryptocurrencies, increasing urbanization, and rapidly growing industrialization are the reasons behind the growth in the market in the Asia-Pacific region. Countries like Japan, South Korea, and Singapore are experiencing significant growth in the market during the forecast period.

In Europe, the growth in the Crypto Atm market is not as rapid as in Asia Pacific and North America, but in countries like the UK, Switzerland, and Germany, the market is witnessing significant growth due to increasing demand for Crypto Atm and an increasing trend of Crypto currencies. The European Union’s efforts to regulate and provide clarity on cryptocurrency-related activities are driving growth in the market. High inflation rates in some countries are driving the demand for crypto ATMs in Latin America. Countries like Venezuela, Argentina, Brazil, and Colombia have seen significant growth in the market. In the Middle East and Africa, Crypto ATM is expanding in countries like Nigeria, South Africa, Saudi Arabia, and the United Arab Emirates, with growing interest among retail consumers and businesses.

Technological advancements and the need for financial inclusion are driving the expansion of the crypto ATM market in the region. However, regulatory uncertainties and infrastructure limitations remain barriers to widespread adoption. The presence of major key players in North America and Europe is driving growth in the market. Increasing demand for cryptocurrencies all over the world is driving growth in the market. Technological advancements all over the world are driving significant growth in the market.

Key Players

·         Coinme

·         Coinsource

·         Bitxatm

·         Orderbob

·         Rusbit

·         Bitaccess

·         Lamassu

·         Covault

·         Rockit Coin

·         Kurant GmbH

·         Genesis Coin Inc

·         General Bytes

·         Cash Cloud Inc

·         Other Players