According to a new report titled “Crypto ATM Market – Forecasts from 2019 to 2024,” the global market for cryptocurrency automated teller machines (ATMs) is expected to explode at a compound annual growth rate (CAGR) of 46.61 percent — reaching $183.779 million USD by 2024.
Last year, the global cryptocurrency ATM market sat at $18.503 million USD, according to the report.
This booming growth is expected to be led by the increasing popularity of cryptocurrencies like Bitcoin (BTC), which will increase demand for cryptocurrency ATMs, in turn. The hospitality industry is also expected to be a leading driver of cryptocurrency ATM adoption.
The main roadblock to cryptocurrency ATM adoption is government regulation, of course.
Increased Demand in the Asia Pacific
The report finds that North America and Europe unsurprisingly garner a large market share of the cryptocurrency ATM market, but the Asia Pacific region is expected to see an increase demand for the machines on account of “rising disposable income and growing…