According to a new report titled “Crypto ATM Market – Forecasts from 2019 to 2024,” the global market for 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 ATM market sat at $18.503 million USD, according to .
This booming growth is expected to be led by the increasing popularity of like (), which will increase demand for ATMs, in turn. The hospitality industry is also expected to be a leading driver of ATM .
The main roadblock to ATM is government , of course.
Increased Demand in the Asia Pacific
The report finds that North America and Europe unsurprisingly garner a large market share of the 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 popularity of .”
Some of the major ATM companies examined in the report are Genesis Coin, Inc., General Bytes, Lamassu, Inc., Bitaccess, Coinsource, Covault, and Mainstreet Automaten GmbH.
Cryptocurrency ATMs Already Spreading Like Wildfire
The report only confirms what many in the industry already know — or, at least, suspect.
Chicago has recently seen a significant increase in ATMs, thanks to Atlanta-based Lux Vending. The US population center now .
New York recently issued a precious BitLicense to Cottonwood Vending LLC, which has provided New Yorkers with where they can purchase the market leader using cash.
Overseas, one of the largest banks in the Philippines, Union Bank, has collaborated with the Southeast Asian country’s central bank to — which will afford the abilities to both buy and sell bitcoins for cash.
What do you think of the proliferation of and ATM machines around the world? How many ATMs do you think will exist in 2024? Let us know your projections in the comments below!
Images courtesy of Shutterstock.
Published at Tue, 26 Mar 2019 05:11:58 +0000
