Global Bitcoin ATM Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Bitcoin ATM Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global bitcoin ATM market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global bitcoin ATM market report has been segmented on the basis of type, ATM hardware, application, and region.
Bitcoin ATM is Bitcoin Automated Teller Machines. Bitcoin is an Internet protocol for exchanging value on the Internet in a decentralized and distributed fashion. Bitcoin is a form of digital or virtual currency that is held electronically. Bitcoin relies on cryptographic software protocols, in order to generate the currency and validate transactions. Bitcoin ATM is similar to the traditional ATM that dispenses currencies and convert bitcoins into fiat currencies such as USD, EUR, INR etc.
Key factors expected to drive growth of the global bitcoin ATM market include increasing awareness and adoption of bitcoin and altcoins, coupled with rapidly increasing digitalization across the globe. In addition, rising disposable income levels, growing investors interest in bitcoin, regulated policies for bitcoin usage, technological advancements enabling financial transactions to be conducted over wireless devices, favorable support by government in terms of investment in various developed countries are among some major factors expected to drive growth of the global bitcoin ATM market. However, several risks associated with ATM machines such as thefts, online frauds, connectivity, and operational issues may hamper growth of the global bitcoin ATM market to a certain extent. In addition, lack of awareness and technical understanding of cryptocurrencies among population in developing countries is expected to restraint the growth of the global bitcoin ATM market over to forecast year to certain extent.
Major players are focusing on carrying out various studies in order to understand customers shifting preferences for payment methods, with more customers now choosing electronic forms of payment over traditional physical banknotes. Government of various countries are formulating various policies as well as taking initiatives to support the target market. Established players are focusing on increasing their installation bases for bitcoin ATM, in order to expand their geographical presence. For instance, in August 2018, CoinATMRadar has installed nearly 1500 Bitcoin ATMs installed worldwide.
The market in North America is expected to dominate the global bitcoin ATM market, owing to presence of a large number of players offering hardware and software components of bitcoin ATM, as well as a favorable investment environment in countries in the region. In addition, in 2017, Ontario-based Bitcoin (BTC) and Ethereum (ETH) ATM manufacturer LocalCoinATM installed a batch of ETH ATMs in three different locations in Canada, including Toronto, Brampton and Etobicoke. In contrast, the market in Europe is expected to be an emerging market for the global bitcoin ATM market, and is expected to register highest CAGR over the forecast period, due to high adoption of bitcoin by variety of businesses - such as cafes, co-working spaces, and cinemas. For instance, in 2018, General Bytes announced installation of its BATMTwo machines at ten metro stations in central Prague in the Czech Republic. Moreover, the markets in Asia Pacific, Latin America and Middle East & Africa are expected to register moderate growth rate over the forecast period.
GLOBAL BITCOIN ATM MARKET SEGMENTATION:
Segmentation by type:
- One Way
- Two Way
Segmentation by ATM hardware:
- QR scanner
- Others (rollers and belts, etc.)
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- General Data Company, Inc.
- Covault Corporation
- Bitaccess Inc.
- Coinme Inc.
- Genesis Coin Inc.
- Byte Federal
- General Bytes
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