Connected POS Terminals 7th Edition

Connected POS Terminals 7th Edition

Connected POS Terminals is the seventh consecutive report from Berg Insight analysing the latest developments on the global POS and mPOS terminal market. This strategic research report from Berg Insight provides you with 50 pages of unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.

Connected POS Terminals 7th Edition

The world is continuously shifting from coin and paper-based payments such as cash and cheques to electronic forms such as payment cards and mobile phone payments. This development accelerated in the past years due to the COVID-19 pandemic. As a part of this evolution, POS terminals are becoming more and more common in all parts of the world. The global installed base of POS terminals grew to almost 258 million units in 2022. Market growth is 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, the mPOS terminal market is today growing fast and Berg Insight forecasts that the installed base of mPOS terminals worldwide will grow from 100 million units in 2022 to reach 143 million units by 2027.

Cellular connectivity has become a very popular option for POS terminals and was incorporated in 50 percent of the devices shipped in 2022. The wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments and parts of the world where the fixed line telecommunications infrastructure is less developed. The installed base of cellular POS terminals reached 123.2 million in 2022. Berg Insight forecasts a CAGR of 8.9 percent between 2022 and 2027, resulting in a total of 188.9 million cellular POS terminals at the end of the forecast period.

The market for NFC-ready POS terminals continued to display strong momentum in 2022 with annual shipments reaching an estimated 90.7 million units worldwide. The attach rate for NFC was highest in EU27+3 and North America, where 99 percent of the POS terminals shipped featured NFC. NFC was also a very popular feature in many other major markets worldwide including Brazil, Turkey and China.

The Android POS terminal category has become very popular lately. About 27 percent of the POS terminals sold in 2022 were Android POS terminals. The top manufacturers of Android smart POS devices were Sunmi, Vanstone Electronic, Pax Technology, Landi and Newland Payment Technology. SoftPOS is a new growth POS category and is a type of software-based payment system that enables merchants to accept debit and credit card payments using a tablet or smartphone.