Crypto ATM market value to hit $472 million by 2027 per new data

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 that estimates a 59% compound annual growth rate for the industry between 2022 and 2027. The market for crypto ATMs is currently valued at $46.4 Million. It expects that this value will rise to $472,000,000 over 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.

Related: Dozens of Bitcoin ATMs are installed at the largest EU electronics retailer

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.

The United States is still a major market for crypto ATMs. It accounts for 88% worldwide. In the first 10 days in July 2022, 641 crypto ATMs were commissioned by 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 fact, the rate at which new installations are being made is steadily declining through 2022.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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