(Rejected) Growth of Crypto ATM Market Projected to Reach $472m by 2027: Report

The growth and adoption of the crypto ATM market is expected to drive the global crypto ATM market to $472 million in 2027, according to Research and Markets, a firm that provides market research services.

The study projects the growth of the crypto ATM market's annual growth rate (CAGR) will reach 59% from 2022 to 2027 during the forecast period.

The market is currently valued at $46.4 million.

Escalating transfers, especially in emerging economies, are considered a springboard for further growth in the crypto ATM market.

The data shows that the volatility of currency regulation and the increase in the number of encrypted ATM installations around the world are the main drivers of high growth in the future.

The study analyses the global encrypted ATM market in the direction of four evaluation strategies of market development, market penetration, product development and diversification based on the Ansoff Matrix, a strategic tool for designing company growth strategies.

The report shows that the regulatory environment in various countries is uncertain and that a lack of education and technical understanding of cryptocurrencies, security and privacy issues, and technical challenges in terms of installation scalability are cited as barriers to growth.

The report also delves into a detailed analysis of the market’s competitors, including financial analysis of listed companies including Bcash Greece Inc, Bitaccess Inc, Bitcoin Depot, Bitstop, Bitxatm, and more.

CoinATM radar data shows the United States ranks at the top of the list in terms of Bitcoin ATMs, accounting for 33,245 units, accounting for about 87.9% of all ATMs in the world. Canada occupies the second-highest number of crypto ATMs in the world.

In general, there are 35,961 ATMs in North America, accounting for 95.1% of the total number of ATMs in the world.

During the first 10 days of July 2022, about 641 crypto ATMs were in operation in the United States.

Europe was close behind with 3.8% of Bitcoin ATMs installed, with 1,419 installed. Asia, North America, Oceania, and Africa all account for less than 1% of the total remaining supply.

The ongoing “crypto winter” is reflected in the number of bitcoin automated teller machine (ATM) installations worldwide – a steady decline in the rate of new installations throughout 2022.