Crypto ATM Market Size, Share & Trends Analysis Report By Type (One Way, Two Way), By Offering (Hardware, Software), By Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin), By Application, By Region, And Segment Forecasts, 2024 - 2030
Crypto ATM Market Size, Share & Trends Analysis Report By Type (One Way, Two Way), By Offering (Hardware, Software), By Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin), By Application, By Region, And Segment Forecasts, 2024 - 2030
Crypto ATM Market Growth & Trends
The global crypto ATM market size is anticipated to reach USD 5.45 billion by 2030, registering a CAGR of 63.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Several countries, such as Central African Republic and El Salvador, recognize Bitcoin as legal tender, which will contribute to the use of crypto ATMs. The market growth can be attributed to the rising use of cryptocurrencies for making payments at several retail stores.
A rise in the number of prominent retail stores installing crypto ATMs is expected to be a major contributor to market growth. In March 2023, Giant Eagle supermarket’s café arm under GetGo Café + Market announced plans to install online Bitcoin ATMs in more than 125 locations across the U.S. Similarly, prominent chains, such as Circle K, 7-Eleven, and Shell, have ramped up the demand for online Bitcoin ATMs.
Leading cryptocurrencies' popularity and potential growth prospects are expected to bode well for market growth. According to data provided by Coin ATM Radar, an online Bitcoin ATM information provider, globally, nearly 23 Bitcoin ATMs are installed daily. Thus, the growing use of cryptocurrencies, such as Bitcoin and Ethereum, is expected to create growth opportunities for the market.
Crypto ATM Market Report Highlights
The one way type segment dominated the market in 2023 due to the rising demand for one-way crypto ATMs for purchasing cryptocurrencies. Several countries have imposed a tax on short-term sales of cryptocurrencies, and the ability to purchase them using cash is a primary driver for the segment's growth
In terms of offering, the hardware segment dominated the market in 2023. The hardware components of a crypto ATM provide the user interface that allows customers to interact with the machine. Hardware components, such as secure microcontrollers and cryptographic modules, play a critical role in ensuring the security of crypto transactions, which is expected to drive the segment’s growth
The Bitcoin coin type segment dominated the market in 2023. Bitcoin transcends borders and enables faster international transactions than traditional banking systems, making it appealing for businesses engaged in cross-border trade. Moreover, institutional investors view Bitcoin as a potential hedge against inflation and a store of value, driving its adoption
The restaurants & other hospitality spaces application segment dominated the market in 2023 owing to the growing deployment of crypto ATMs by various food and entertainment outlets. Crypto ATMs provide customers with additional payment options and cater to tech-oriented customers who prefer using cryptocurrencies for transactions
North America dominated the global market in 2023. The easy availability of crypto ATMs in the region bodes well for the regional market’s growth. Moreover, the willingness of large-scale businesses to incorporate blockchain and cryptocurrency is expected to drive regional market growth
In September 2023, WonderFi, a fintech company, announced a strategic partnership with Bitbuy and cryptocurrency ATM provider Localcoin ATM. This partnership aimed to bolster Localcoin's crypto ATM services across Canada by integrating Bitbuy's exchange platform, along with its associated "deep liquidity" benefits
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Market Formulation & Data Visualization
1.4.2. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing & Technology Trends
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Rising fund transfers in developing countries
3.3.1.2. Increasing Installations of Crypto ATMs
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Security an data privacy concerns
3.3.3. Market Opportunity Impact Analysis
3.3.3.1. Increasing awareness of cryptocurrencies
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.5.1. Porter’s Analysis
3.5.2. PESTEL Analysis
Chapter 4. Crypto ATM Machine Volume Analysis
4.1.1. North America
4.1.2. Europe
4.1.3. Asia Pacific
4.1.4. Latin America
4.1.5. Middle East & Africa
Chapter 5. Crypto ATM Market: Type Estimates & Trend Analysis
5.1. Type Movement Analysis & Market Share, 2023 & 2030
5.2. Crypto ATM Market Estimates & Forecast, By Type