According to market research, the global cryptocurrency ATM market will be worth $472million by 2027. This is due to growth in emerging markets and increasing adoption.
Market research projects that the global cryptocurrency ATM market will grow rapidly over the next five year. It is estimated that the market will be worth half of a billion dollars by 2027.
Research and Markets has published a new Report. It estimates that the industry will experience a 59% compound annual growth rate between 2022 and 2027. The crypto ATM market is valued at $46.4 million, and it expects that this value will rise to $472million over the next five years.
Projected growth is driven by a rise in remittances to developing countries and funds transfers, fluctuating monetary regulations, and an increase in crypto ATM installation around the globe.
These insights are based on in-depth qualitative analyses and verifiable information to make projections about the market. Interviews, surveys, and observations were all part of primary research.
The report also examines the barriers to growth, including uncertain regulatory environments in different countries and a lack of education. Barriers to growth include security and privacy concerns, technical difficulties around scaling installations, and technical challenges.
Service providers of crypto ATMs could also reap the benefits of significant growth opportunities in emerging markets and growing acceptance for cryptocurrencies across all industries.
America is a major market for cryptocurrency ATMs. It accounts for 88% worldwide crypto ATM installation. In the first ten days of July 2022, 641 crypto ATMs were commissioned in the country. Canada is home to the second most crypto ATMs. North America is the largest adopter of the service.
The general downturn in cryptocurrency markets has had an impact on the rollout of new crypto ATMs. In 2022 , the rate of new installations showed a steady decline.
