68.3 F
New York
HomeCryptoCryptocurrency ATM Market to grow by USD 2.37 billion from 2021 to...

Cryptocurrency ATM Market to grow by USD 2.37 billion from 2021 to 2026 | Growth Driven by the increasing number of installations- Technavio

NEW YORK, Sept. 14, 2023 /PRNewswire/ — The “cryptocurrency ATM market by type (one way and two way) and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2022-2026″ report has been added to the Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cryptocurrency ATM market from 2021 to 2026 is USD 2.37 billionaccording to Technavio. The increasing number of installations is a key factor driving market growth. To develop new products and emerging technologies that are used around the world in crypto ATMs, companies active in the worldwide market will make significant investments in research and development. Furthermore, with a view to making transactions more efficient, providers are putting in place different technologies with the aim of increasing hash rates and reducing energy consumption. Falling cryptocurrency values have encouraged providers to launch affordable crypto ATMs to expand their presence in this growing sector. For example, in May 2021, Bitcoin Depot announced the launch of over 350 new crypto ATMs in the US. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and more. Buy the full report here

Market Challenge 

  • Limited acceptance of cryptocurrencies as a legal trend is a significant challenge restricting market growth. Cryptocurrencies are seen as posing a threat to current currency systems because of their volatility and decentralized nature. Consequently, cryptocurrencies are not considered legal tender in countries such as India, Bangladesh, and China. Furthermore, in some countries, digital currencies have been banned, but others are attempting to limit the flow of support from banks and financial systems with major implications for their trading and use. Cryptocurrency‘s association with illegal activities such as drug trafficking and money laundering was one of the factors that led to its ban. Hence, these factors are expected to restrict market growth during the forecast period.

Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The cryptocurrency ATM market has been segmented by type (one way and two way) and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

  • The cryptocurrency ATM market share growth by the one way segment will be significant during the forecast period. One-way cryptocurrency ATM allows the users to either buy or sell cryptocurrency as they are unidirectional. These ATMs are a safe way of buying, sending, and selling cryptocurrencies. This is due to its vast technological innovations; it helps protect the volatility of Bitcoin by providing quick transaction functions. One-way crypto ATMs are more affordable than two-way crypto ATMs. Hence, these factors are expected to drive market growth during the forecast period.
  • North America is estimated to contribute 43% to the growth of the global market during the forecast period. 

View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Cryptocurrency ATM market:

ATM OPS LLC, Bitaccess Inc., Cash Cloud Inc., ChainBytes LLC, Clark, Sharp, and Reynolds LLC, Coinme Inc., Express Systems USA Inc., General Bytes SRO, Genesis Coin Inc., GFT Technologies SE, Kurant GmbH, Lamassu Industries AG, Lux Vending LLC, ORDERBOB, RockItCoin LLC, and RusBit Ltd.

Related Reports:

The building automation software market size is estimated to grow at a CAGR of 14.22% between 2022 and 2027. The market size is forecast to increase by USD 25.46 billion.

The electronic design automation (EDA) market size is estimated to grow at a CAGR of 9.76% between 2022 and 2027. The market size is forecast to increase by USD 7,504.13 million.

Cryptocurrency ATM Market Scope

Report Coverage

Details

Base year

2021

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 53.09%

Market growth 2022-2026

USD 2.37 billion

Market structure

Concentrated

YoY growth 2022-2023 (%)

40.05

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 43%

Key countries

US, Canada, China, Japan, Germany, and France

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ATM OPS LLC, Bitaccess Inc., Cash Cloud Inc., ChainBytes LLC, Clark, Sharp, and Reynolds LLC, Coinme Inc., Express Systems USA Inc., General Bytes SRO, Genesis Coin Inc., GFT Technologies SE, Kurant GmbH, Lamassu Industries AG, Lux Vending LLC, ORDERBOB, RockItCoin LLC, and RusBit Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/cryptocurrency-atm-market-to-grow-by-usd-2-37-billion-from-2021-to-2026–growth-driven-by-the-increasing-number-of-installations–technavio-301928449.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv