According to the report published by Allied Market Research, the global crypto ATM market was estimated at $35.80 million in 2020 and is expected to hit $3.55 billion by 2030, registering a CAGR of 58.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increasing adoption of cloud in SMEs, surge in need for operational efficiency & transparency in business processes, and rise in demand for cloud among financial companies drive the global crypto ATM market. On the other hand, concerns associated with data security & protection and higher investment & maintenance costs restrain the growth to some extent. However, increase in cloud adoption in developing regions and several technological advancements in the technology are expected to pave the way for lucrative opportunities in the industry.
Consumers have increasingly invested in cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and others during the pandemic, which in turn has impacted the global crypto ATM market positively.
This trend is most likely to continue post pandemic as well.
The global crypto ATM market is analyzed across offering, type, coin, and region. By offering, the hardware segment held the highest market share in 2020, holding more than one-fifth of the global market. The software segment, on the other hand, is projected to manifest the fastest CAGR of 61.5% from 2021 to 2030.
By hardware, the display segment contributed to the major share in 2020, accounting for nearly two-fifths of the global crypto ATM market, and is expected to lead the trail during the forecast period. Simultaneously, the ATM printer segment is anticipated to cite the fastest CAGR of 63.9% from 2021 to 2030.
By region, North America held the highest market share in terms of revenue 2020, garnering more than half of the global crypto ATM market. At the same time, the Asia-Pacific region is projected to showcase the fastest CAGR of 64.0% throughout the forecast period. The other provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global crypto ATM market report include BITCOIN DEPOT, Cash Cloud, Inc, RockitCoin, GENERAL BYTES s.r.o., Coinsource, Covault, LLC, Bitstop, Genesis Coin Inc., Kurant GmbH, and Lamassu Industries AG. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.