- Grand View Research predicts that the crypto ATM market will surge by 2030.
- The research platform reported a 60% growth prediction for the ATM market.
- However, the crypto market continues to be dormant due to macroeconomic factors.
Despite the crypto market melting down, reports show that there is a prediction that the crypto ATM market will soar by 2030. In detail, market analysis platform Grand View Research reported that by 2030, a 60% compound annual growth rate (CAGR) could be expected in the ATM market that will be more than worth $5 million.
In a report, the Grand View Research team noted that there has been a “rising awareness and adoption of crypto among retailers” including Walmart and Circle K. This leap in crypto adoption is expected to make the crypto ATM market grow higher in the upcoming years.
Furthermore, the report read:
In addition, several businesses, including restaurants and commercial spaces, are involved in installing crypto ATMs to earn extra revenues, which is expected to further fuel the market’s growth.
Besides, the research platform focused that this expected market expansion can be enrooted to the lucrative benefits offered by crypto ATMs. Another core reason for this growth as noted by the platform is due to “legalization of cryptocurrency across several countries”.
According to the analysis, North America is predicted to witness ATM market growth, followed by Europe and Asia Pacific, in terms of regions. Meanwhile, the least growth in the market could be in regions such as Latin America, Africa, and the Middle East.
Notably, the value of the global crypto ATM market was $75 million in 2021. As per a report by Bitcoin ATM map Coin ATM Radar, over 602 crypto ATM operators installed nearly 38,609 ATMs across 78 countries in September 2022. Additionally, several governments are involved in installing crypto ATMs in public places.
Significantly, Grand View Research analysis read: the Covid-19 pandemic boosted Bitcoin and other virtual asset investments as people are finding ways to keep afloat financially.
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