Crypto ATM Market Forecast and Growth by 2031

Coverage: Crypto ATM Market covers analysis By Component (System, Services); Type (One Way, Two Way); Coin Type (Bitcoin, Dogecoin, Ethereum, Litecoin, Others); and Geography

  • Report Code : TIPRE00003351
  • Category : Banking, Financial Services, and Insurance
  • Status : Upcoming
  • No. of Pages : 150
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The crypto ATM market size is expected to grow at a CAGR of 59.1% from 2023 to 2031. The crypto ATM market includes growth prospects owing to the current crypto ATM market trends and their foreseeable impact during the forecast period. The crypto ATM market is growing due to factors such as the growing adoption of cryptocurrencies, increasing installations of crypto ATMs, and government initiatives to support cryptocurrency adoption.

Crypto ATM Market Analysis

The crypto ATM refers to the automated teller machines (ATMs) that allow users to buy or sell cryptocurrencies using cash or credit/debit cards. These machines function similarly to traditional ATMs, but instead of dispensing or accepting fiat currency, they deal with digital currencies like Bitcoin, Ethereum, or Litecoin. Crypto ATMs are used by individuals who want to quickly and conveniently exchange cash for cryptocurrencies or vice versa. They provide a physical point of access to the crypto market, making it easier for people to enter or exit the digital currency space.

Crypto ATM Market Overview

  • The crypto ATM market is gaining traction as more people are getting interested in cryptocurrencies. Crypto ATMs make it easy for individuals to join the digital currency space.
  • Crypto ATMs can help expand the adoption of cryptocurrencies by reaching individuals who may not have easy access to online exchanges or prefer in-person transactions.
  • Many crypto ATM operators comply with regulatory requirements, such as identity verification and anti-money laundering (AML) measures, which can help build trust and legitimacy in the market.

REGIONAL FRAMEWORK

Crypto ATM Market Driver

Growing Adoption Of Crypto Currencies To Drive The Crypto ATM Market

  • Cryptocurrencies have brought transformative changes to the global economic landscape. Cryptocurrency adoption has been significantly increasing as more and more people are turning to digital assets as a viable form of payment. For instance, according to Gitnux, there were over 13,000 cryptocurrencies in existence as of October 2021. Bitcoin is the world’s first cryptocurrency, used by ~101 million users as of Q3 of 2021.
  • With more people embracing digital currencies like Bitcoin, Ethereum, and others, the demand for convenient ways to buy and sell these assets is increasing rapidly. For instance, according to CoinATMRadar estimates, the number of crypto ATMs worldwide will reach over 30,000 by 2023.
  • As the adoption of cryptocurrencies continues to expand, the demand for crypto ATMs is expected to surge, driving the growth of the market.

Crypto ATM Market Report Segmentation Analysis

  • Based on type, the crypto ATM market is segmented into one-way and two-way. The one-way segment is expected to hold a substantial crypto ATM market share in 2023.

Crypto ATM Market Share Analysis By Geography

The scope of the crypto ATM market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant crypto ATM market share. According to Bitcoin.com, North America has the highest number of crypto ATMs in the world, with 37,081 machines. The US alone accounts for over 87% of all crypto ATMs in North America, reaching 34,299 machines, and Canada has 6.3% of the worldwide crypto ATMs, reaching 2,461 crypto ATMs. Such huge adoption of crypto ATMs in the North American region contributes to the crypto ATM market growth.

Crypto ATM Market Report Scope

The "Crypto ATM Market Analysis" was carried out based on component, type, coin type, and geography. On the basis of component, the market is segmented into systems and services.  On the basis of type, the market is segmented into one-way and two-way. Based on coin type, the market is segmented into Bitcoin, Dogecoin, Ethereum, Litecoin, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Crypto ATM Market Report Analysis

Crypto ATM Market
  • CAGR
    CAGR (2023 - 2031)
    XX%
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • Bitaccess
  • BitXatm Technology Limited
  • COINME
  • Coinsource
  • COVAULT
  • GENERAL BYTES S.R.O.
  • Genesis Coin Inc.
  • Lamassu Industries AG.
  • Orderbob

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market Segment By Type
  • One Way and Two Way
Market Segment By Hardware
  • Display
  • Printer
  • QR Scanner
MARKET PLAYERS

Crypto ATM Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the crypto ATM market. A few recent key market developments are listed below:

  • In April 2024, RockItCoin announced the expansion of its network via its partnership program. Under this, the company plans to deploy over 100 new Bitcoin ATMs across several states, including Arkansas, Colorado, Georgia, Texas, and Tennessee. This expansion brings RockItCoin's total to nearly 2,500 Bitcoin ATM locations nationwide, further enhancing the public's access to buying and selling Bitcoin with cash.

[Source: Hyundai, Press Release]

  • In September 2023, Olliv announced expansion into New Zealand becoming the first bitcoin ATM operator in the country. The company has a network of 4,500 Bitcoin ATMs. It planned to expand its footprint within Aotearoa throughout 2023, furthering its mission to lift people to achieve their full potential by connecting them to the global digital economy.

[Source: Skoda Auto, Press Release]

Crypto ATM Market Report Coverage & Deliverables

The crypto ATM market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Crypto ATM Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

  • Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
  • Market dynamics such as drivers, restraints, and key opportunities.
  • Key future trends.
  • Detailed PEST & SWOT analysis
  • Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
  • Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
  • Detailed company profiles.

Crypto ATM Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • One Way and Two Way
By Hardware
  • Display
  • Printer
  • QR Scanner
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Bitaccess
  • BitXatm Technology Limited
  • COINME
  • Coinsource
  • COVAULT
  • GENERAL BYTES S.R.O.
  • Genesis Coin Inc.
  • Lamassu Industries AG.
  • Orderbob
    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset
    Report Coverage

    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered

    Segment Covered

    This text is related
    to segments covered.

    Regional Scope

    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope

    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What is the growth rate of the global crypto ATM market over the forecast period?

    The global crypto ATM market is expected to grow at a CAGR of 59.1% during 2023 - 2031.

    What are the driving factors impacting the global crypto ATM market?

    Growing adoption of cryptocurrencies, and increasing installations of crypto ATMs are the major factors that propel the global crypto ATM market.

    What are the future trends of the global crypto ATM market?

    The increasing prevalence of Bitcoin ATMs is anticipated to play a significant role in the global crypto ATM market in the coming years.

    Which are the key players holding the major market share of the crypto ATM market?

    The key players holding majority shares in the global crypto ATM market are GENERAL BYTES s.r.o.; Genesis Coin Inc.; Lamassu Industries AG; Covault; and Bitaccess Inc.

    Which region is expected to register a high growth rate during the forecast period?

    North America is anticipated to grow with a high growth rate during the forecast period.

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    The List of Companies

    1.Bitaccess
    2.BitXatm Technology Limited
    3.COINME
    4.Coinsource
    5.COVAULT
    6.GENERAL BYTES S.R.O.
    7.Genesis Coin Inc.
    8.Lamassu Industries AG.
    9.Orderbob
    10.RusBit