Increasing demand for quick trades and simpler trading options is expected to drive market expansion in the near future at a CAGR of 55.50% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Bitcoin ATM Machine Market”.

The bitcoin ATM machine market is estimated to register a CAGR of 55.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global bitcoin ATM machine market - GENERAL BYTES s.r.o. (Czech Republic), CoinMarketCap (U.S.), Genesis Coin Inc. (U.S.), Lamassu Industries AG (U.S.), Bitaccess (Canada), Coinme (U.S.), Coinsource  (U.S.), Coin ATM Radar (U.S.), Orderbob (Austria), RUSbit (Russia), Schlandt Automaten GmbH (Germany), Bitstop (U.S.), Kurant Services GmbH. (Germany), RockitCoin. (U.S.), Bitcoin Depot. (U.S.), BCASH (India), Byte Federal, Inc.(U.S.), Invity.io (India), Cryptomathic (Denmark), and AnkerPlatfom (U.S.).

Market Highlights

The global bitcoin ATM machine market is accounted to register a CAGR of 55.50% during the forecast period and is estimated to reach USD 0.664 billion by 2032.

The increasing use of cryptocurrencies by those who would rather use cash than have a bank account is responsible for the market's expansion. Bitcoin ATMs are a growingly popular option where users may buy bitcoins with cash. Additionally, users of bitcoin ATMs can convert cryptocurrency into fiat money, withdraw cash from ATMs, and send money overseas without the requirement for a bank account. The fact that cryptocurrencies have been made legal in a number of nations is another important element that is encouraging for the expansion of the market for bitcoin ATMs.

Segment Analysis

The global bitcoin ATM machine market has been segmented into type, offerings, component, application, and deployment.

On the basis of type, the market is segmented into One Way and Two Way. The one way segment was attributed to holding the largest market share in 2022. The most common one-way ATMs for cryptocurrencies only let users buy cryptocurrency. Due to their ability to facilitate quick and safe money transfers, these ATMs are becoming more and more popular. In that they are easy to operate and don't require a lot of operational knowledge, one-way cryptocurrency ATMs are similar to traditional ATMs.

Based on offerings, the global bitcoin ATM machine market has been segmented into Hardware (Display, ATM printer, Printer and Quick Response (QR) Scanner, Others) and Software. The hardware segment was expected to hold the largest market share in 2022. The increasing installation of bitcoin ATMs, the rise in investor interest, and the increasing public knowledge of cryptocurrency currencies are driving the need for bitcoin ATM manufacture.

On the basis of component, the market is segmented into Solution and Services. The services segment was attributed to holding the largest market share in 2022. The services provided by Bitcoin ATM manufacturers may include transaction processing, maintenance, customer assistance, and software updates to ensure smooth operation and regulatory compliance. Other services that some suppliers offer are wallet services, API connection, and reporting tools to assist operators in efficiently managing their machines.

Based on application, the global bitcoin ATM machine market has been segmented into Commercial spaces, Restaurants, Transportation hubs, and Standalone units. The restaurants segment was expected to hold the largest market share in 2022. Bars and restaurants are spending more and more money on bitcoin ATMs so they can host the machines and generate extra income. Because it lets users purchase and sell cryptocurrency just like traditional ATMs that accept fiat money, the bitcoin ATM encourages people to visit public places like cafes, bars, and restaurants.

On the basis of deployment, the market is segmented into On-premise and Cloud-based. The cloud-based segment was attributed to holding the largest market share in 2022. This could incorporate functions like updates, remote management, and real-time transaction processing. Operators can monitor and manage their Bitcoin ATMs more effectively, increase security, and offer scalability with cloud-based technologies.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Bitcoin ATM Machine Market Research Report

Regional Analysis

The global bitcoin ATM machine market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe bitcoin ATM machine market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The bitcoin ATM machine market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World bitcoin ATM machine market comprises of Middle East, Africa, and Latin America.

The largest market share for bitcoin ATM machine was maintained by the North American regional sector. The region's dominance can be due to several factors, including the wide adoption of bitcoin automated teller machines (ATMs) by various industries, the rise in investment in the cryptocurrency market, the presence of significant critical players among its member nations, and the preference for sophisticated IT infrastructure.

Moreover, the Europe market has been persistently growing over the forecast period. The general uptake of cryptocurrencies, legal clarity, and public awareness are some of the factors that often influence the growth of the Bitcoin ATM sector in Europe. Compared to other countries, Austria, the UK, and Switzerland have the most Bitcoin ATMs.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the acceleration of the digitization of the economy. Furthermore, over the course of the forecast period, the Asia Pacific market is expected to develop at the fastest rate due to consumers' increased awareness of cryptocurrencies.

Furthermore, the rest of the world's bitcoin ATM machine market is divided into the Middle East, Africa, and Latin America. Due to the rising use of cryptocurrencies in the region, the market for Bitcoin ATMs in the rest of world is expanding quickly. Additionally, as more and more individuals learn about and become proficient with cryptocurrencies, their popularity is growing throughout rest of world.

Key Findings of the Study

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  The global bitcoin ATM machine market is expected to reach USD 0.664 billion by 2032, at a CAGR of 55.50% during the forecast period.

  
  


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  The Asia-Pacific region accounted for the fastest-growing global market because the economy's digitization is accelerating.

  
  


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  Based on application, the restaurants segment was attributed to holding the largest market in 2022, with an approximate market share of 45%.

  
  


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  GENERAL BYTES s.r.o. (Czech Republic), CoinMarketCap (U.S.), Genesis Coin Inc. (U.S.), Lamassu Industries AG (U.S.), Bitaccess (Canada), Coinme (U.S.), Coinsource  (U.S.), Coin ATM Radar (U.S.), Orderbob (Austria), RUSbit (Russia), Schlandt Automaten GmbH (Germany), Bitstop (U.S.), Kurant Services GmbH. (Germany), RockitCoin. (U.S.), Bitcoin Depot. (U.S.), BCASH (India), Byte Federal, Inc.(U.S.), Invity.io (India), Cryptomathic (Denmark), and AnkerPlatfom (U.S.).