Global Crypto ATM Market, By Type (One Way and Two Way), Automated Teller Machine Hardware (Display, Printer, QR Scanner), Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Market Analysis: Global Crypto ATM Market
The Global Crypto ATM Market is expected to reach USD 147.9 million by 2025 from USD 7.1 million in 2017 and is projected to grow at a CAGR of 56.9% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Crypto ATM Market
Cryptocurrency is defined as digital or virtual money in the form of tokens or “coins. It is an Internet-connected kiosk that allows customers to purchase bitcoins with deposited cash. A crypto ATM is not the same as an ATM backed by a traditional financial institution or bank. The cryptocurrencies have ventured into credit cards or other projects. The “crypto” in cryptocurrencies refers to complicated cryptography for a particular digital token to be stored, transacted and generated securely. Cryptocurrencies is designed to get free from government control and manipulation and the rising demand of cryptocurrency getting more popular this foundational aspect of the industry has come under fire. The crypto ATM include various currency such as Litecoin (LTC), Ethereum (ETH), Zcash (ZEC), Dash (DASH), Ripple (XRP), Monero (XMR), Bitcoin Cash (BCH), NEO (NEO) and others. Cryptocurrency ATMs also offer an innovative solution to solve one of the world’s biggest problems and approximately 2 billion people worldwide and roughly 59% of adults in the developing world don’t have a bank account and using Cryptocurrency ATMs.
In 2017 Exotel launched crypto ATM services for stockbrokers to be SEBI-compliant. It is a crypto ATM platform records every single conversation. It helps in business phone system via a virtual phone system.
In July 2018, the Bulgaria will be the next nation to have two-way crypto ATM machines. A local Bulgarian crypto exchange, DG Cash, announced the news on social media that they are launching the new machine on Monday in one of Sofia’s most popular shopping centers.
In September, 2018, Bitcoin Depot launches 20 Crypto ATMs in Southern California. It will increase demand for crypto-ATMs are looking to convert physical fiat into decentralized cryptocurrency, money that puts the power into the hands of the people rather than institutions.
Market Drivers and Restraints:
- Increasing fund transfers in developing countries
- Fluctuating monetary regulations
- Increasing installations of crypto ATMs in restaurants, bars, general stores, and gas stations.
- Uncertain regulatory status of cryptocurrencies.
- Lack of awareness and technical understanding regarding cryptocurrency
Market Segmentation: Global Crypto ATM Market
- The market is segmented based on type , automated teller machine hardware and geographical segments
- Based on type, the market is segmented into one way and two way.
- Based on automated teller machine hardware, the market is segmented into display, printer, QR scanner.
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Crypto ATM Market
The global crypto ATM market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of crypto ATM market for global, Europe, North America, Asia Pacific and South America. In 2017 Lamassu launched the cryptomats industry by creating the world's first crypto ATM. cryptomats support Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash and Zcash It contain various coins sintra, sintra Forte, Douro II and others.
Key Players: Global Crypto ATM Market
The renowned players in crypto ATM market are GENERAL BYTES (Czech Republic), Genesis Coin (US), Lamassu (UK), COVAULT (US), Bitaccess (Canada), Coinme (US), Coinsource (US), Bitxatm (German), Orderbob (Austria), and RUSbit (Russia) and many more.
Research Methodology: Global Crypto ATM Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.