Market for Crypto-ATMs to be worth almost half a billion in 5 years' time

The global market for Crypto-ATMs is set for five big years, according to a new study. The study shows that the market will be worth around half a billion euros by 2027. This prediction is based on a growth rate of 59 percent per year between 2022 and 2027.

Currently around €46 million

The EUR 467 million forecast means that the market for Crypto-ATMs will be worth around 10 times over the next five years. In fact, the total value of the market is currently estimated at around €46 million.

According to the research, the main drivers of adoption are a growing number of international remittances in developing countries, fluctuating legislation and an increase in installations of ATMs across the globe.

The research underpins its insights with deep qualitative analysis and verifiable data to make predictions on the overall market size. This included interviews, surveys and observations of market participants.


America as market leader


The major market leader in Crypto-ATMs is America. Approximately 88 per cent of all machines are currently found in the United States. The fact that Crypto-ATMs are popular in the USA is evident from the first 10 days of July. In that period 641 Crypto-ATMs were installed in the country.

Canada is the number two on the list, making North America by far the largest continent in this field. The ailing exchange rates have also had an impact on the number of installations of new machines. Indeed, the number of installations has been slowly declining as 2022 progresses. In this respect, the industry could also use a price boost.


Especially 2021 a huge boost


Looking at the figures, the bull run from 2020 to 2021 seems to have done the ATM market especially good. For that period, we see an enormous peak in the number of installations, which then creeps back to the previous level in 2022.

We are now well below the 1,000 installations per month mark again, which is not surprising given the state of the market. The explosive growth of the past year was also certainly related to the adoption of bitcoin as legal tender in El Salvador. Indeed, the third largest ATM network was created in El Salvador shortly thereafter.


Total number of machines


The growth may be off for the moment, but looking at the totals it still looks impressive. The total number of Crypto-ATMs will have grown to 37,062 machines by 2022. This equates to approximately one machine for every 209,540 people in the world.

The new report from Research and Markets thus expects a growth by a factor of 10 over the next five years, which could bring the total number of Crypto-ATMs in the world to 370,620. This would mean that approximately 1 in 20,000 people would have a Crypto-ATM.

With numbers like that, the adoption of bitcoin and crypto in general starts to take more serious shape. But anyway, these are still predictions that the market will have to live up to in the next five years.
https://www.indexuniverse.eu/market-for-crypto-atms-to-be-worth-almost-half-a-billion-in-5-years-time/