Crypto ATM Market Size By Component (Hardware [Display, Printer, Scanner], Software, Services), By Type (One-Way, Two-Way), By Coin Type (Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Com

Crypto ATM Market Size By Component (Hardware [Display, Printer, Scanner], Software, Services), By Type (One-Way, Two-Way), By Coin Type (Bitcoin (BTC), Litecoin, Ethereum (ETH), Dogecoin), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The crypto ATM market is slated to observe exponential growth by 2028 owing to rising awareness among people about cryptocurrencies. In addition, increasing fund transfers and prevalent deployment of crypto exchanges in developed nations are anticipated to further support industry expansion through the forecast period.

Recently, the presence of cryptocurrencies, such as Bitcoin and others, has increased tremendously, improving the infrastructure of the cryptocurrency market across the world. A cryptocurrency ATM is an autonomous system that allows people to sell and purchase crypto easily. These ATMs are witnessing soaring demand as they have strong internet connection and use QR codes to scan and receive tokens in the digital wallet of the user.

Notably, crypto ATMs can complete the transaction in few minutes. The number of bitcoin ATMs has observed a huge surge in leading regions globally, wherein deployment of these ATM units across the United States had almost doubled to reach around 38,000 machines by the end of 2021.

Furthermore, companies in the crypto ATM market are implementing strategic collaborations and partnerships to gain a competitive edge in the industry and bolster the adoption of these ATMs. Numerous countries are also increasingly investing in cryptocurrency startups to accelerate the growth of cryptocurrency exchange. For instance, by July 2020, the Central Bank of Philippines had approved over 15 regulated cryptocurrency exchanges to function as transfer and remittance firms in the country.

Overall, the crypto ATM market has been bifurcated in terms of component, type, and region. With reference to component, the market has been divided into display, printer, scanner, and others.

The display segment is speculated to witness considerable growth over the study timeframe because of increasing introduction of interactive and immersive displays that allow easy purchase and sale of cryptocurrencies. The printer segment is primed to expand at a robust CAGR over the analysis timeline as printing devices perform QR scanning functions that eliminate the need to deploy more components.

Based on type, the crypto ATM market has been classified into one-way and two-way. The two-way segment is poised to record lucrative growth through 2028 owing to escalating demand for enhanced security as well as safer digital payment and conversion functions.

From the regional standpoint, the Latin America crypto ATM industry is speculated to showcase notable growth up to 2028 owing to increasing financial technology developments in the LATAM region. Meanwhile, the Middle East & Africa crypto ATM market is pegged to exhibit substantial growth over the forecast timespan supported by rising market capitalization of cryptocurrencies across MEA.