Connected POS Terminals 8th Edition

Connected POS Terminals is the eighth consecutive report from BergInsight analysing the latest developments on the global POS andmPOS terminal market. This strategic research report from BergInsight provides you with 50 pages of unique business intelligenceincluding 5-year industry forecasts and expert commentary on whichto base your business decisions.

The world is continuously shifting from coin and paper-based payments such as cash andcheques to electronic forms such as payment cards and mobile phone payments. Thisdevelopment accelerated in the past years due to the COVID-19 pandemic. As a part of thisevolution, POS terminals are becoming more and more common in all parts of the world. Theglobal installed base of POS terminals grew to almost 292 million units in 2023. Market growthis primarily fuelled by the increasing adoption of electronic payments in emerging markets.

Developed markets are relatively saturated in terms of POS terminal adoption. In addition, themPOS terminal market is today still growing and Berg Insight forecasts that the installed base ofmPOS terminals worldwide will grow from 110 million units in 2023 to reach 152 million units by2028.

Cellular connectivity has become a very popular option for POS terminals and was incorporatedin 53 percent of the devices shipped in 2023. The wireless technology has an important role infacilitating the global adoption of electronic payments, as it enables the rollout of POS terminalsto many new market segments and parts of the world where the fixed line telecommunicationsinfrastructure is less developed. The installed base of cellular POS terminals reached 146.1million in 2023. Berg Insight forecasts a CAGR of 9.4 percent between 2023 and 2028, resultingin a total of 229.3 million cellular POS terminals at the end of the forecast period.

The market for NFC-ready POS terminals continued to display strong momentum in 2023 withannual shipments reaching an estimated 110.7 million units worldwide. The attach rate for NFCwas highest in Europe and North America, where 99 percent of the POS terminals shippedfeatured NFC. NFC was also a very popular feature in many other major markets worldwideincluding Brazil, Turkey and China.

The Android POS terminal category has become very popular lately. About 40 percent of thePOS terminals sold in 2023 were Android POS terminals. The top manufacturers of Android smartPOS devices were Sunmi, Tianyu, Pax Technology, Verifone, Castles Technology, Ingenico,Landi and Newland Payment Technology. SoftPOS is a new growth POS category and is a typeof software-based payment system that enables merchants to accept debit and credit cardpayments using a tablet or smartphone. The number of smartphones running SoftPOS is stillless than 10 million.