Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "Connected POS Terminals - 7th Edition" report has been added to ResearchAndMarkets.com's offering.
Cellular connectivity has become a popular option for POS terminals and the installed base of cellular POS terminals reached 123 million worldwide in 2022. The report forecasts a CAGR of 8.9 percent between 2022 and 2027, resulting in a total of 189 million cellular POS terminals at the end of the forecast period. The market for NFC-ready POS terminals also continued to display strong momentum in 2022 with annual shipments reaching an estimated 75 million units worldwide. The report also forecasts the mPOS market.
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 it is forecast 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. The report 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.
Highlights from the report:
- Detailed analysis of the payments industry.
- Summary of the latest industry trends and developments.
- Updated in-depth profiles of key players in the POS and mPOS terminal market.
- Reviews of vendor market shares and competitive dynamics.
- Perspectives on the impact of mobile wallet services.
- Extensive global and regional market forecasts lasting until 2027.
Key Questions Answered
- What is the potential market size for cellular IoT communication in the retail industry?
- Which trends and developments are shaping the market?
- How many smart Android POS terminals shipped in the past year?
- How will emerging mobile wallet services affect the market?
- What is the attach rate for cellular connectivity in POS terminals by region?
- What are the market shares for the leading POS terminal vendors?
Key Topics Covered:
1 Introduction
1.1 The card payments industry
1.1.1 The transaction process in card payments
1.1.2 Costs of a card payment transaction
1.1.3 Revenue distribution in the card payments industry
1.1.4 Card payments and household consumption expenditures
1.1.5 Breakdown of household consumption expenditures
1.1.6 Card payment volumes
1.2 The POS terminal market
1.2.1 POS terminal market data
1.2.2 POS terminal form factors
2 Cellular IoT and NFC Connectivity
2.1 Evolution of electronic payments
2.1.1 EMV migration
2.1.2 Adoption of cellular IoT communications
2.1.3 Rollout of NFC-ready terminals
3 POS Terminal Vendors
3.1 Vendor profiles and strategies
- Anfu
- BBPOS
- Bitel
- Castles Technology
- Centerm
- Dspread Technology
- Equinox Payments
- Fiserv
- ID Tech
- Ingenico
- Itron Electronics
- JTact
- Landi
- MoreFun
- Newland Payment Technology
- New POS
- Nexgo (Xinguodu)
- PAX Technology
- Sunmi
- SZZT Electronics
- TopWise
- UIC Payworld
- Vanstone Electronic
- VeriFone
4 Forecasts and Conclusions
4.1 Market trends and drivers
4.1.1 Steady uptake of cellular IoT connectivity
4.1.2 NFC has become ubiquitous
4.1.3 POS terminal app stores are a potential game-changer
4.1.4 Android payment terminals gain traction
4.1.5 New technologies can transform the shopping experience
4.1.6 The mPOS market segment is growing fast
4.1.7 Is the advent of SoftPOS a possible threat to POS terminal hardware sales?
4.2 Market forecasts
4.2.1 Cellular POS terminal market forecast
4.2.2 NFC-ready POS terminal market forecast
4.2.3 NFC-ready mPOS terminal market forecast
For more information about this report visit https://www.researchandmarkets.com/r/j8a43h
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