Industry Background:
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. 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.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | GENERAL BYTES (Czech Republic), Genesis Coin (United States), Lamassu (United Kingdom), COVAULT (United States), Bitaccess (Canada), Coinme (United States), Coinsource (United States), Bitxatm (German), Orderbob (Austria) and RUSbit (Russia) |
According to AMA, the market for Bitcoin ATMs is expected to register a CAGR of 56.9% during the forecast period to 2028. This growth is primarily driven by Increasing fund transfers in developing countries and Fluctuating monetary regulations.
Globally, a noticeable market trend is evident Increasing installations of crypto ATMs in restaurants, bars, general stores, and gas stations The Specialized Finance sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as GENERAL BYTES (Czech Republic), Genesis Coin (United States), Lamassu (United Kingdom), COVAULT (United States), Bitaccess (Canada), Coinme (United States), Coinsource (United States), Bitxatm (German), Orderbob (Austria) and RUSbit (Russia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
Influencing Trend:
Increasing installations of crypto ATMs in restaurants, bars, general stores, and gas stations
Market Growth Drivers:
Increasing fund transfers in developing countries and Fluctuating monetary regulations
Challenges:
Lack of awareness and technical understanding regarding cryptocurrency and Concern Regarding Security and Privacy
Restraints:
The uncertain regulatory status of cryptocurrencies and Technical Challenges Pertaining to Scalability
Opportunities:
Significant Growth Opportunities in Developed Markets and Acceptance of Cryptocurrency Across Industries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Bitcoin ATMs Market
- Analysis about New Entrants in Bitcoin ATMs Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Bitcoin ATMs Study Sheds Light on
The Bitcoin ATMs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bitcoin ATMs industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bitcoin ATMs industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.