Before we get to the main point of this article, which explains all about the market research forecasts on the cryptocurrency ATM market increasing in value, let us take a look at some key points.
- By 2027, there is a chance that the value of the cryptocurrency ATM market might be worth 472 million dollars, per new data.
- The global cryptocurrency ATM market is expected to grow at a fast rate over the next five years, and this is according to market research predictions.
- The market research forecast involves a lot of primary research and in-depth analysis of the main factors that will drive the estimated growth of the crypto ATM market, the barriers to change in some particular countries, etc.
- The United States is the largest market for cryptocurrency ATMs in the world as it has about 88% of crypto ATM installations. Canada comes in second as it has the second largest amount.
Crypto market value is expected to increase in value and reach $472 million by 2027 – all you need to know
Yes, you read the title of this article, right, there is a possibility that the value of the crypto ATM market will be worth 472 million dollars by 2027. Market research shows that, per new data, that the global crypto ATM market is likely to be worth 472 million dollars by 2027, which is a result of growing adoption and developing markets.
Due to the market research prediction that the worldwide cryptocurrency ATM market will hit about 472 million dollars by 2027 which is about half a billion. The market is expected to grow at a fast rate from 2022 to 2027 (five years). A new report was published by Research and Market, and this report approximates that the industry will have an annual growth rate (compound of about 59 percent) from 2022 to 2027.
Currently, the cryptocurrency ATM market value sits at 46.4 million dollars which is quite impressive, and this value is expected to increase to 472 million in the next five years (2027). Some of the main factors that will affect and drive the estimated growth of the crypto ATM market include:
- Fund transfers in countries that are developing and growing remittances.
- A rise in the installation of cryptocurrency ATMs all around the world.
- An irregular rise and fall of monetary regulations.
There was a lot of primary research put into this estimation (surveys, interviews and observations that involved market participants), and an in-depth qualitative analysis propelled every insight. Also, every piece of data that was used to create projections about the rising of the cryptocurrency ATM market is verifiable.
Furthermore, the reports also cover restraints on growth in some particular countries – for example, in different countries, there are uncertain regulatory environments where they lack the proper and technical understanding (and education) of cryptocurrencies. Not everyone knows so much about cryptocurrencies and what they entail.
As a crypto ATM service provider, you can benefit from significant growth opportunities in every developing market, but this is something not most people know. One will also benefit from the wide and growing acceptance of cryptocurrencies across several industries. Also, privacy concerns, security and technical challenges around the installation of cryptocurrency ATMs are some of the barriers to growth in these countries.
The United States is a significant market for cryptocurrency ATMs as it has the highest number of installed cryptocurrency ATMs worldwide (88 percent), and that is very impressive. From the first of July to the tenth, the United States commissioned (for use) 641 crypto ATMs. After the United States, Canada comes next as it is also a significant market for cryptocurrency ATMs – Canada has a large number of crypto ATMs, though not as large as the United States.
There has been a major slump in the cryptocurrency markets, somewhat like a recession, which has significantly affected the installation of new cryptocurrency ATMs. Throughout the year 2022, the rate of new cryptocurrency ATM installations shows a steady decline. This makes North America the most productive adopter of the cryptocurrency ATM service.
With all the information written above, as a crypto market player and an onlooker, do you believe that the value of the Crypto ATM market will increase to 472 million dollars by 2027?