April 25, 2023 06:18 ET | Source: Research and Markets Research and Markets
Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Connected POS Terminals - 6th Edition" report has been added to ResearchAndMarkets.com's offering. Cash Register
This report forecasts a CAGR of 10.2 percent between 2021 and 2026, resulting in a total of 168 million cellular POS terminals at the end of the forecast period.
Cellular connectivity has become a popular option for POS terminals and the installed base of cellular POS terminals reached 104 million worldwide in 2021.
The market for NFC-ready POS terminals also continued to display strong momentum in 2021 with annual shipments reaching an estimated 75 million units worldwide. The report also forecasts the mPOS market. Get up to date with the latest information about vendors, products and markets.
According to the report, the market for NFC-ready POS terminals continued to show strong momentum in 2021 with annual shipments reaching an estimated 75.3 million units worldwide.
The attach rate for NFC was highest in EU27+3 and North America, where 98 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.
On a global basis, about 80 percent of the POS terminals shipped in 2021 included NFC. The analyst projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 11.6 percent from 168.7 million units in 2021 to 291.9 million units in 2026. As a result, more than 93 percent of the world's POS terminals will be NFC-ready in 2026, up from 73 percent in 2021.
"The mPOS terminal market is growing at about the same rate as the traditional POS terminal segment and there are more than 70 vendors active on the global market today" said Johan Fagerberg, Principal Analyst.
mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The attach rate for NFC in the mPOS segment was 72 percent in 2021 as NFC-ready mPOS terminal shipments reached 29.4 million units.
The analyst forecasts that global shipments of NFC-ready mPOS terminals will grow at a compound annual growth rate (CAGR) of 11.2 percent in the next five years to reach 50.1 million units by 2026.
"The growth is driven by the increase in mPOS terminal shipments from 40.9 million units in 2021 to 53.0 million units in 2026, as well as by a growth in the attach rate from 72 percent to 95 percent", concludes Mr Fagerberg.
This report answers the following questions:
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 3.1.1 BBPOS 3.1.2 Bitel 3.1.3 Castles Technology 3.1.4 Centerm 3.1.5 Dspread Technology 3.1.6 Equinox Payments 3.1.7 Fiserv 3.1.8 ID Tech 3.1.9 Ingenico 3.1.10 Itron Electronics 3.1.11 JTact 3.1.12 MoreFun 3.1.13 Newland Payment Technology 3.1.14 New POS 3.1.15 Nexgo (Xinguodu) 3.1.16 PAX Technology 3.1.17 SZZT Electronics 3.1.18 TopWise 3.1.19 UIC Payworld 3.1.20 Vanstone Electronic 3.1.21 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 4.2 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/xjf9is
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